Question 1

Describe the four steps in market logistics planning.

Accepted Answer

Market logistics includes planning the infrastructure to meet demand,then implementing and controlling the physical flows of materials and final goods from points of origin to points of use,to meet customer requirements at a profit.Market logistics planning has four steps:
Deciding on the company's value proposition to its customers.(What on-time delivery standard
should we offer? What levels should we attain in ordering and billing accuracy?).
Selecting the best channel design and network strategy for reaching the customers.(Should the company serve customers directly or through intermediaries? What products should we source from which manufacturing facilities? How many warehouses should we maintain and where should we locate them?).
Developing operational excellence in sales forecasting,warehouse management,transportation management,and materials management.
Implementing the solution with the best information systems,equipment,policies,and procedures.

Question 2

Department stores only face competition from other department stores as other retailing forms are not a threat to their sales and profitability.

Accepted Answer

A) True 
 B)False  False

Question 3

Discount stores usually stock leftover goods,overruns,and irregular merchandise,sold at less than retail.

Accepted Answer

A) True 
 B)False  False

Question 4

Staples is a giant retailer that concentrates on selling office supplies.Staples is an example of a(n)________.

Accepted Answer

A) ambush marketer 
B) supercenter 
C) megamarketer 
D) category killer 
E) guerilla marketer 
A) ambush marketer 
B) supercenter 
C) megamarketer 
D) category killer 
E) guerilla marketer

Question 5

List some differentiation strategies retailers can use to compete successfully in the market.

Accepted Answer

To better differentiate themselves and g

Question 6

The ________ marketing sales system works by recruiting independent businesspeople who act as distributors.

Accepted Answer

A) catalog 
B) multilevel 
C) direct-response 
D) corporate 
E) direct 
A) catalog 
B) multilevel 
C) direct-response 
D) corporate 
E) direct

Question 7

A retailer or retail store is any business enterprise whose sales volume comes primarily from wholesaling.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following is a postpurchase service offered by retailers?

Accepted Answer

A) accepting orders over the telephone 
B) advertising and window displays 
C) delivery to the customer's doorstep 
D) general information 
E) interior decoration of the retail outlet 
A) accepting orders over the telephone 
B) advertising and window displays 
C) delivery to the customer's doorstep 
D) general information 
E) interior decoration of the retail outlet

Question 9

Give one example of a retailer that uses stand-alone stores as opposed to stores located in malls.Why do you think retailers opt for this channel?

Accepted Answer

Student answers may vary.
Retailers may

Question 10

The Body Shop and Giordano carry mostly own-brand merchandise.These are examples of ________.

Accepted Answer

A) generic product 
B) national brand 
C) franchise 
D) copy-cat brand 
E) private labels 
A) generic product 
B) national brand 
C) franchise 
D) copy-cat brand 
E) private labels

Question 11

The franchisor owns a trade or service mark and licenses it to franchisees in return for royalty payments.

Accepted Answer

A) True 
 B)False

Question 12

________ encompass sales forecasting,production planning,and inbound materials transportation.

Accepted Answer

A) Market logistics 
B) Containerization 
C) Transportation 
D) Nonstore retailing 
E) Wholesaling 
A) Market logistics 
B) Containerization 
C) Transportation 
D) Nonstore retailing 
E) Wholesaling

Question 13

As inventory draws down,management must know at what stock level to place a new order.This stock level is called the order point.

Accepted Answer

A) True 
 B)False

Question 14

Skincare company E&OE has realized that its customers are very loyal to the brand and play a large part in popularizing it by word of mouth.E&OE wants to leverage this customer loyalty by using it to generate sales outside its store format.How can E&OE achieve this?

Accepted Answer

Student answers may vary.
E&OE can opt f

Question 15

The lower price of generics is made possible by lower-cost labeling and packaging and minimal advertising,and sometimes lower-quality ingredients.

Accepted Answer

A) True 
 B)False

Question 16

As inventory draws down,management must know at what stock level to request additional stock.This stock level is called the ________.

Accepted Answer

A) reorder point 
B) least fixed point 
C) point of divergence 
D) inflection point 
E) critical point 
A) reorder point 
B) least fixed point 
C) point of divergence 
D) inflection point 
E) critical point

Question 17

Mass merchandisers are usually high-markup,lower-volume stores.

Accepted Answer

A) True 
 B)False

Question 18

Some high-volume products may have such high handling costs that they are less profitable and deserve less shelf space than low-volume products.

Accepted Answer

A) True 
 B)False

Question 19

A store selling expensive artwork and luxury goods typically falls into the ________ group with respect to margins and volume.

Accepted Answer

A) mixed markup,high-volume 
B) low-volume,mixed markup 
C) low-volume,low-markup 
D) high-volume,low-markup 
E) high-markup,low-volume 
A) mixed markup,high-volume 
B) low-volume,mixed markup 
C) low-volume,low-markup 
D) high-volume,low-markup 
E) high-markup,low-volume

Question 20

Most retailers will put low prices on some items in order to increase traffic to the store.These low-priced products are known as ________.

Accepted Answer

A) loss leaders 
B) price ceilings 
C) price skimmers 
D) price floors 
E) cold calls 
A) loss leaders 
B) price ceilings 
C) price skimmers 
D) price floors 
E) cold calls

Exam 16: Managing Retailing,wholesaling,and Logistics

Describe the four steps in market logistics planning.

Department stores only face competition from other department stores as other retailing forms are not a threat to their sales and profitability.

Discount stores usually stock leftover goods,overruns,and irregular merchandise,sold at less than retail.

Staples is a giant retailer that concentrates on selling office supplies.Staples is an example of a(n)________.

List some differentiation strategies retailers can use to compete successfully in the market.

The ________ marketing sales system works by recruiting independent businesspeople who act as distributors.

A retailer or retail store is any business enterprise whose sales volume comes primarily from wholesaling.

Which of the following is a postpurchase service offered by retailers?

Give one example of a retailer that uses stand-alone stores as opposed to stores located in malls.Why do you think retailers opt for this channel?

The Body Shop and Giordano carry mostly own-brand merchandise.These are examples of ________.

The franchisor owns a trade or service mark and licenses it to franchisees in return for royalty payments.

________ encompass sales forecasting,production planning,and inbound materials transportation.

As inventory draws down,management must know at what stock level to place a new order.This stock level is called the order point.

Skincare company E&OE has realized that its customers are very loyal to the brand and play a large part in popularizing it by word of mouth.E&OE wants to leverage this customer loyalty by using it to generate sales outside its store format.How can E&OE achieve this?

The lower price of generics is made possible by lower-cost labeling and packaging and minimal advertising,and sometimes lower-quality ingredients.

As inventory draws down,management must know at what stock level to request additional stock.This stock level is called the ________.

Mass merchandisers are usually high-markup,lower-volume stores.

Some high-volume products may have such high handling costs that they are less profitable and deserve less shelf space than low-volume products.

A store selling expensive artwork and luxury goods typically falls into the ________ group with respect to margins and volume.

Most retailers will put low prices on some items in order to increase traffic to the store.These low-priced products are known as ________.

Defining Marketing for the New Realities

Developing Marketing Strategies and Plans

Gathering Information and Forecasting Demand

Conducting Marketing Research

Creating Customer Value,satisfaction,and Loyalty

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning

Competitive Dynamics

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Marketing Channels and Value Networks

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, sales Promotions, events, and Public Relations

Managing Digital Communications: Online, social Media, and Mobile

Managing Personal Communications: Direct and Database Marketing and Personal Selling

Introducing New Market Offerings

Tapping Into Global Markets

Managing a Holistic Marketing Organization

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