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Question 1 of 205.0 PointsConsumers judge the benefits the product delivers against the __________ necessary to obtain it.A. price B. profit C. sacrifice D. total return Reset Selection Mark for Review What's This?Question 2 of 205.0 PointsIf a marketer prices their product too low, it may:A. result in lower costs. B. signal poor quality. C. increase contribution per unit. D. result in inelastic demand. Reset Selection Mark for Review What's This?Question 3 of 205.0 PointsUsing "keystoning" as a pricing strategy:A. maximizes the difference between total cost and total variable cost. B. avoids having to participate in pure competition. C. ignores consumers' sensitivity to changes in prices. D. allows marketers to estimate substitution cross-price elasticity. Reset Selection Mark for Review What's This?Question 4 of 205.0 PointsWhich of the following is NOT one of the Five C's of pricing?A. Customers B. Channel members C. Cost D. Collaboration Reset Selection Mark for Review What's This?Question 5 of 205.0 PointsWhen the media and messages in a promotional campaign are not aligned with the company strategies or when the channels are not appropriate for the selected price levels, it indicates something is wrong with:A. cost-benefit price ratio. B. promotional mix. C. break-even analysis. D. the pricing strategy. Reset Selection Mark for Review What's This?Question 6 of 205.0 PointsNaomi tells her sales representatives the goal is to generate at least a 20 percent return on investment for all of the industrial building supplies they sell. Naomi is using a __________ pricing strategy.A. sales orientation B. target profit C. target return D. status quo Reset Selection Mark for Review What's This?Question 7 of 205.0 PointsA __________ strategy involves accurately measuring all the factors needed to predict sales and profits at various price levels.A. sales orientation B. target profit C. target return D. maximizing profits Reset Selection Mark for Review What's This?Question 8 of 205.0 PointsThe fact that millions of consumers are using online search engines for comparison shopping has:A. reduced overall demand. B. increased consumers' price sensitivity. C. increased the number of oligopoly markets. D. reduced the contribution per unit cross-pricing elasticity. Reset Selection Mark for Review What's This?Question 9 of 205.0 PointsA demand curve shows the relationship between __________ in a period of time.A. price and quantity demanded B. demand and cost C. price and elasticity D. profit and price Reset Selection Mark for Review What's This?Question 10 of 205.0 PointsPrice elasticity of demand is the ratio of:A. percentage change in quantity demanded divided by the percentage change in price. B. percentage change in price divided by percentage change in quantity demanded. C. change in price divided by change in quantity demanded. D. change in quantity demanded divided by the change in price. Reset Selection Mark for Review What's This?Question 11 of 205.0 PointsThe more substitutes that exist in a market:A. the lower the price elasticity for each product. B. the greater the income elasticity for each product. C. the easier it will be to utilize a status quo price elasticity strategy. D. the more sensitive consumers will be to changes in the price of a particular product. Reset Selection Mark for Review What's This?Question 12 of 205.0 PointsAt the break-even point:A. contribution per unit is zero. B. price is maximized. C. profits are zero. D. fixed costs are reduced to zero. Reset Selection Mark for Review What's This?Question 13 of 205.0 PointsThe break-even point is estimated by:A. multiplying revenue per unit times the quantity sold. B. dividing fixed contribution per unit by variable costs. C. multiplying fixed costs by contribution per unit. D. dividing fixed costs by contribution per unit. Reset Selection Mark for Review What's This?Question 14 of 205.0 PointsIf a 1 percent decrease in price results in more than a 1 percent increase in quantity demand, demand is:A. conditionally inelastic. B. price inelastic. C. price elastic. D. conditionally elastic. Reset Selection Mark for Review What's This?Question 15 of 205.0 Points__________ is an attempt by a manufacturer, vendor or supplier to set a minimum possible price, to control the image of the product or dictate the price, which amounts to a legal form of what would otherwise be price fixing.A. Conditional pricing B. Controlled pricing support C. Channel enforcement D. Retail price maintenance Reset Selection Mark for Review What's This?Question 16 of 205.0 PointsIn addition to knowing more about the products, services, manufacturers and retailers Internet users know more about prices. These consumers are becoming more:A. price insensitive. B. price observant. C. price neutral. D. price sensitive. Reset Selection Mark for Review What's This?Question 17 of 205.0 PointsFor marketers to advertise a price as their __________, the Better Business Bureau recommends that at least 50 percent of the sales of a product occur at that price.A. fixed price B. zone price C. regular price D. leader price Reset Selection Mark for Review What's This?Question 18 of 205.0 Points__________ pricing tactics lower the price of a product below cost.A. Fixed B. Zone C. Regular D. Loss leader Reset Selection Mark for Review What's This?Question 19 of 205.0 Points__________ is the practice of colluding with other firms to control prices.A. Competitive favoritism B. Industry tightening C. Slacking D. Price fixing Reset Selection Mark for Review What's This?Question 20 of 205.0 PointsLabor, materials, and energy are typically __________ costs.A. fixed B. incidental C. variable D. inelastic Reset Selection Mark for Review What's This?Online Exam 7_07
Table of Contents
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Part 1 of 1 -
Question 1 of 20
5.0 Points
Supply chain management systems include manufacturers, warehouses, stores, and:
A. customers.
B. competitors.
C. buying centers.
D. suppliers. Reset Selection
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Question 2 of 20
5.0 Points
__________ is an element of supply chain management that concentrates on the movement and control of the physical products.
A. Dispatcher decision-making
B. Strategic relationship management
C. Logistics management
D. Corporate vertical marketing Reset Selection
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Question 3 of 20
5.0 Points
Manufacturers use wholesalers and retailers because:
A. they have no other choice.
B. they do not cost much.
C. they create value through convenience and lower prices.
D. wholesalers control retailers. Reset Selection
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Question 4 of 20
5.0 Points
In the 1990s before the widespread use of the Internet, the typical, well-organized order-to-delivery process included order creation using a telephone, fax or mail, order processing, credit authorization and warehousing and deliver often took:
A. a month or more.
B. six to eight weeks.
C. up to a week.
D. 15-30 days. Reset Selection
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Question 5 of 20
5.0 Points
Ticketing and marking refers to:
A. quantifying JIT reliability and assessing its impact.
B. booking shipping routes and marking the distribution destination.
C. creating and placing price and identification labels.
D. determining discounts and marking them into the computerized EDI. Reset Selection
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Question 6 of 20
5.0 Points
Typically, manufacturers and retailers exchange business documents through a(n) __________ system.
A. cross-docking Internet
B. electronic data interchange
C. floor-ready intranet
D. vertical conflict reduction Reset Selection
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Question 7 of 20
5.0 Points
CPFR refers to __________ inventory management systems.
A. centralized, planning, factoring, and receiving
B. collection, partnering, franchising, and receiving
C. collaborative, planning, forecasting, and replenishment
D. corporate, partnering, facilitation, and replenishment Reset Selection
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Question 8 of 20
5.0 Points
__________ can improve supply chain efficiency by allowing manufacturers to sell on consignment, which shifts the cost of maintaining inventory from the retailer to the manufacturer, and shifting the time of sales personnel from writing orders to selling new items and developing relationships
A. JIT systems
B. Value-added supply chains
C. The Internet
D. Vendor-managed inventory Reset Selection
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Question 9 of 20
5.0 Points
In a(n) __________ supply chain, none of the participants has any control over the others.
A. cooperative
B. corporate
C. contractual
D. conventional Reset Selection
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Question 10 of 20
5.0 Points
There are a number of different kinds of supply chains, but when there is a great deal of volume and a powerful channel participant, you are likely to find a(n) __________ supply chain.
A. cooperative
B. conventional
C. contractual
D. administered Reset Selection
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Question 11 of 20
5.0 Points
Today, __________ dominate their supply chains.
A. large retailers
B. manufacturers
C. distributors
D. wholesalers Reset Selection
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Question 12 of 20
5.0 Points
Generally, the larger and more sophisticated the channel member, the less likely that they will:
A. use intermediaries.
B. rely on marketing research.
C. use multi-channel marketing.
D. use intensive distribution. Reset Selection
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Question 13 of 20
5.0 Points
__________ are combating competitive pressures by offering fresh food and healthy fast food, tailoring assortments to local marketing, opening locations closer to where consumers work and shop, and adding new services.
A. Warehouse clubs
B. Supercenters
C. Convenience stores
D. Department stores Reset Selection
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Question 14 of 20
5.0 Points
Category killers are also known as:
A. full-line discount stores.
B. category specialists.
C. specialty stores.
D. warehouse clubs. Reset Selection
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Question 15 of 20
5.0 Points
Consumers visiting __________ often comment that they feel like they are on a treasure hunt, searching for a bargain.
A. department stores
B. off-price retailers
C. discount stores
D. lower value stores Reset Selection
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Question 16 of 20
5.0 Points
Retailers use __________ to get customers into their stores.
A. in-store promotions
B. specialty product displays
C. mass media advertising
D. off-price wholesaling Reset Selection
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Question 17 of 20
5.0 Points
For brick-and-mortar retailers, a key ingredient to place decisions is:
A. product placement promotion.
B. convenient locations.
C. private-label places.
D. off-price placement. Reset Selection
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Question 18 of 20
5.0 Points
Benefits of __________ as a channel include matching or exceeding the convenience of catalogs, providing a great deal of information about products, and collecting information about how customers shop.
A. the store
B. mail order
C. direct mail
D. the Internet Reset Selection
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Question 19 of 20
5.0 Points
__________ communities are networks of social shoppers who see an enhanced emotional connection with other participants during an Internet shopping experience.
A. Self-actualizing
B. Virtual
C. Innovator
D. Gen-Y Reset Selection
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Question 20 of 20
5.0 Points
__________ provide a consistent experience for on-line customers who cannot touch and feel merchandise prior to purchasing it.
A. Shopping bots
B. Price guarantees
C. Reduced shipping costs
D. Brands Reset Selection
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