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.



a.

facilitating agency or place member

b.

marketing mix intermediary

c.

selective distribution channel

d.

marketing channel or channel of distribution

e.

transportation channel or channel of movement

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:



a.

overcoming spatial discrepancies

b.

contact expertise

c.

specialization and division of labor

d.

overcoming temporal discrepancies

e.

overcoming discrepancies of quantity

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:



a.

possession

b.

assortment

c.

quantity

d.

spatial

e.

temporal

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.



a.

space

b.

quantity

c.

assortment

d.

accumulation

e.

possession

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.



a.

communication network

b.

channel of distribution

c.

supply pyramid

d.

materials-handling network

e.

demand chain

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:



a.

discrepancy of assortment

b.

discrepancy of quantity

c.

spatial discrepancy

d.

temporal discrepancy

e.

discrepancy of possession

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:



a.

discrepancy of quantity

b.

discrepancy of assortment

c.

spatial discrepancy

d.

temporal discrepancy

e.

discrepancy of possession

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:



a.

spatial discrepancy

b.

discrepancy of quantity

c.

discrepancy of assortment

d.

demand discrepancies

e.

discrepancy of possession

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:



a.

spatial discrepancy

b.

discrepancy of quantity

c.

discrepancy of assortment

d.

demand discrepancies

e.

discrepancy of possession

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.



a.

quantity

b.

supply

c.

possession

d.

temporal

e.

assortment

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.



a.

assortment

b.

spatial

c.

possession

d.

quantity

e.

temporal

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

12. Vicobello is a major manufacturer of outdoor fountains that are currently popular in gardens. Even though fountains represent a product category that does not sell year round due to inclement weather, Vicobello's sales remain steady all year because it sells to wholesale distributors that stock the product. Its wholesale distributors are primarily helping to overcome a(n) _____ discrepancy.

a.

assortment

b.

spatial

c.

possession

d.

quantity

e.

temporal


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.



a.

spatial

b.

temporal

c.

assortment

d.

quantity

e.

ownership

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

14. YKK slide fasteners (zippers) are made in Macon, Georgia, yet manufactures all over the world use zippers to manufacture, clothes, luggage, shoes, and other items. Wholesalers around the world primarily help to overcome a(n) _____ discrepancy.

a.

creation

b.

temporal

c.

assortment

d.

spatial

e.

ownership


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:



a.

forward integration

b.

contact efficiency

c.

elimination of temporal discrepancies

d.

sorting

e.

reciprocity

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:



a.

install exchange barriers such as location, time, and quantity

b.

prevent specialization of labor

c.

decrease economies of scale

d.

take title to the products they sell

e.

raise profit margins for independent middlemen

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:



a.

take title to a product

b.

create temporal and spatial discrepancies

c.

use consumer promotions

d.

do not benefit from any economies of scale

e.

are accurately described by all of these statements

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):

a.

agent or broker

b.

merchant wholesaler

c.

retailer

d.

consumer market

e.

hypermarket intermediary


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):

a.

agent or broker

b.

merchant wholesaler

c.

retailer

d.

consumer market

e.

hypermarket intermediary


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.



a.

merchant wholesaler

b.

agent

c.

drop shipper

d.

channel cooperative

e.

marketing cooperative

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?



a.

Products typically carried by merchant wholesalers are technically simple.

b.

Customers of merchant wholesalers are typically concentrated.

c.

The buyer is generally satisfied with a long lead time when the merchant wholesaler is acting as the facilitating intermediary.

d.

Frequent ordering is commonplace with a merchant wholesaler.

e.

Merchant wholesalers tend to carry products with low gross margin.


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