Final exam pool items (Chs. 9, 11, 12, 13, 14, 15 & 17 not 18)
Chapter 12—Marketing Channels and Supply Chain Management
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| Chapter 12—Marketing Channels and Supply Chain Management
MULTIPLE CHOICE 1. A _____ is a business structure of interdependent organizations that reaches from the point of product origin to the consumer.
ANS: D PTS: 1 REF: 171 OBJ: 12-1 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Distribution 2. Marketing channels can achieve economies of scale through:
ANS: C PTS: 1 REF: 171-172 OBJ: 12-1 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Distribution 3. Distribution channels aid in overcoming barriers to exchange that are created in the production process by overcoming all of the following types of discrepancies EXCEPT:
ANS: A
Channels facilitate the end goal of possession of the goods, but they do not help to overcome a discrepancy of possession. PTS: 1 REF: 172 OBJ: 12-1 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Distribution 4. A discrepancy of _____ is the difference between the amount of product produced and the amount an end user wants to buy.
ANS: B PTS: 1 REF: 172 OBJ: 12-1 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Customer | TB&E Model Product 5. To facilitate manufacturing in China, Ingersoll-Rand uses 18 different local suppliers of key component parts. These suppliers are part of the _____ for Ingersoll-Rand.
ANS: B PTS: 1 REF: 171 OBJ: 12-1 TYPE: App TOP: AACSB Diversity | TB&E Model Distribution | TB&E Model International Perspective 6. If a retail outlet does not offer all the items necessary in order for the buyer to use or to receive full satisfaction from a product purchased there, there is a:
ANS: A PTS: 1 REF: 172 OBJ: 12-1 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Product 7. A manufacturer may only produce one product, yet additional products may be required to actually use the first product. This creates a:
ANS: B PTS: 1 REF: 172 OBJ: 12-1 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Product 8. McKesson Company provides health care products to pharmacies. For example, it purchases bandages, gauze, antibacterial cream, and ointments (or anything else you would need to treat a cut or scrape) from a variety of different manufacturers. Its goal is to provide each pharmacy with every item a customer might want to treat a cut. McKesson is aiding consumers by overcoming:
ANS: C
A manufacturer may only produce one product, yet additional products may be required to actually use the first product. This creates a discrepancy of assortment. PTS: 1 REF: 172 OBJ: 12-1 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Product 9. Certified Grocers Midwest, Inc., the Chicago-based grocery wholesale cooperative, provides all kinds of meats, cereals, canned and fresh fruits and vegetables, beauty aids, health care items, and pet products to the supermarkets in its channel. Certified Grocers is aiding consumers by overcoming:
ANS: C
By providing the central buying function on behalf of its customers, Certified overcomes the discrepancy of assortment and is able to offer many different brands of similar items. PTS: 1 REF: 172 OBJ: 12-1 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Product 10. A(n) _____ discrepancy is created when a product is produced but a consumer is not ready to purchase it.
ANS: D PTS: 1 REF: 172 OBJ: 12-1 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Customer | TB&E Model Product 11. Cutter & Buck is a high-end fashion sportswear company. Even though swimwear is a product category that does not sell year round, its sales remain steady all year because Cutter & Buck sells to wholesale distributors that stock the product. Its wholesale distributors are helping to overcome a(n) _____ discrepancy.
ANS: E
A temporal discrepancy is created when a product is produced but a consumer is not ready to purchase it. PTS: 1 REF: 172 OBJ: 12-1 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Distribution
ANS: E A temporal discrepancy is created when a product is produced but a consumer is not ready to purchase it. Several of those discrepancies are being partially overcome, but the MAIN one is temporal. PTS: 1 REF: 172 OBJ: 12-1 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Distribution 13. Markets are often scattered over large geographic regions, yet a manufacturer may only have one location in the country. This creates a(n) _____ discrepancy.
ANS: A
Several of those discrepancies are being partially overcome, but the MAIN one is spatial. PTS: 1 REF: 172 OBJ: 12-1 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Strategy
ANS: D Markets are often scattered over large geographic regions, yet a manufacturer may only have one location in the country. This creates a spatial discrepancy. PTS: 1 REF: 172 OBJ: 12-1 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Distribution 15. Marketing channels make distribution simpler by reducing the number of transactions required to get products from manufacturers to consumers. This is called:
ANS: B PTS: 1 REF: 172-173 OBJ: 12-1 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Distribution 16. The major characteristic that is used to differentiate between types of intermediaries is whether they:
ANS: D
Marketing channels increase the efficiency of the buying and exchange process by reducing the number of contacts between buyers and sellers. PTS: 1 REF: 173 OBJ: 12-2 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Distribution | TB&E Model Product 17. Retailers and merchant wholesalers are examples of intermediaries that:
ANS: A
Retailers and merchant wholesalers own the merchandise and control the terms of its ultimate sale. PTS: 1 REF: 173 OBJ: 12-2 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Product 18. W.W. Grainger, Inc., is one of the world's largest business-to-business distributors of equipment, component parts, and supplies in the United States and Canada. It has ownership title to over 220,000 products, which are stocked in one national and nine regional warehouses to guarantee product availability and quick service to the many manufacturers who are its customers. W.W. Grainger is an example of a(n):
ANS: B A merchant wholesaler is an institution that buys goods from manufacturers and resells them to other wholesalers and retailers. Merchant Wholesalers receive and take title to the goods, own warehouses, and ship the products they sell. PTS: 1 REF: 173 OBJ: 12-2 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Customer | TB&E Model Distribution 19. Long Island Lefty provides retailers and other businesses with the latest and the best products for left-handed consumers. It buys all types of products from a variety of manufacturers and stores the merchandise in its New York warehouse until purchased by buyers. Long Island Lefty does not sell to end users and is an example of a(n):
ANS: B A merchant wholesaler is an institution that buys goods from manufacturers and resells them to other wholesalers and retailers. Merchant wholesalers receive and take title to the goods, own warehouses, and ship the products they sell. PTS: 1 REF: 173 OBJ: 12-2 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Customer | TB&E Model Distribution 20. A(n) _____ is an institution that buys goods from manufacturers, takes title to these goods, and resells them to businesses, government agencies, and/or other wholesalers or retailers.
ANS: A PTS: 1 REF: 173 OBJ: 12-2 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Product 21. Which of the following statements about merchant wholesalers is true?
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