Question 1

Personal selling provides the link between seller and buyer, which adds to a firm's credibility.

Accepted Answer

A) True 
 B)False

Question 2

What is the fundamental difference between retailers and wholesalers?

Accepted Answer

The fundamental difference is that retai

Question 3

Frisell says: The most important online threat facing us today is identity theft. Consumers have to rely on online shopping today more than ever, and they are exposed to all kinds of dangers by people gaining access to credit cards, bank information, and Social Security numbers. Identity theft is a lucrative "business," and identity thieves will keep finding new ways to rip off consumers as long as online shopping and transactions are widespread. Scofield responds: Consumers have suffered from online theft, but the most far-reaching danger to people today from the Internet is viruses and malware. These have the capacity to take down entire networks, affecting both businesses and consumers. It's not clear that anti-virus measures will ever be able to keep up with all of the threats that are out there.
Which of the following statements would Frisell most likely agree with?

Accepted Answer

A)  Encryption software is the only way to protect consumers' identities. 
B)  Viruses do not pose a major problem to online security. 
C)  People have more choices in online shopping now than they used to. 
D)  Consumers should regularly check their credit reports and transactions. 
E)  Identity theft has always been a problem for consumers. 
A)  Encryption software is the only way to protect consumers' identities. 
B)  Viruses do not pose a major problem to online security. 
C)  People have more choices in online shopping now than they used to. 
D)  Consumers should regularly check their credit reports and transactions. 
E)  Identity theft has always been a problem for consumers.

Question 4

What are the advantages and disadvantages of publicity?

Accepted Answer

The major advantage is that publicity is

Question 5

Farrah explains why Superior Stereo Systems might not want to set prices for the Superior V at a level that maximizes profits. What do you expect that Farrah will tell Bill?

Accepted Answer

Farrah will likely explain that a firm m

Question 6

The communications vehicle that is inexpensive, that effectively segments the customers, but is not very long lasting is

Accepted Answer

A)  radio. 
B)  direct mail. 
C)  newspaper. 
D)  television. 
E)  magazines. 
A)  radio. 
B)  direct mail. 
C)  newspaper. 
D)  television. 
E)  magazines.

Question 7

Coupons, point-of-purchase displays, free samples, and trade shows are examples of

Accepted Answer

A)  advertising. 
B)  sales promotions. 
C)  publicity. 
D)  personal selling. 
E)  pricing. 
A)  advertising. 
B)  sales promotions. 
C)  publicity. 
D)  personal selling. 
E)  pricing.

Question 8

Briefly discuss each of the four channels of distribution.

Accepted Answer

- Channel 1: producer to end user
- Chan

Question 9

Many e-tailers, such as eBay and Priceline, use ________ pricing.

Accepted Answer

A)  penetration 
B)  skimming 
C)  dynamic 
D)  psychological 
E)  odd-even 
A)  penetration 
B)  skimming 
C)  dynamic 
D)  psychological 
E)  odd-even

Question 10

Which of the following pricing strategies best describes price lining?

Accepted Answer

A)  Setting an initial low price to establish a new product in the market 
B)  Setting an initial high price to cover new product costs and generate a profit 
C)  Setting individually negotiated prices for certain categories of products 
D)  Setting a limited number of prices for certain categories of products 
E)  Setting individually negotiated prices for all categories of products 
A)  Setting an initial low price to establish a new product in the market 
B)  Setting an initial high price to cover new product costs and generate a profit 
C)  Setting individually negotiated prices for certain categories of products 
D)  Setting a limited number of prices for certain categories of products 
E)  Setting individually negotiated prices for all categories of products

Question 11

Warriners is a family-owned grocery store that sells approximately 12 cases of canned potatoes per year. It orders one case a month from a local wholesaler. This is an example of a

Accepted Answer

A)  channel 4 distribution system. 
B)  channel 3 distribution system. 
C)  channel 2 distribution system. 
D)  channel 5 distribution system. 
E)  channel 1 distribution system. 
A)  channel 4 distribution system. 
B)  channel 3 distribution system. 
C)  channel 2 distribution system. 
D)  channel 5 distribution system. 
E)  channel 1 distribution system.

Question 12

.________ help Internet consumers by gathering and sorting information on comparison products and product features.

Accepted Answer

A)  Electronic retailers 
B)  Direct-response sellers 
C)  Syndicated sellers 
D)  E-intermediaries 
E)  Cybermalls 
A)  Electronic retailers 
B)  Direct-response sellers 
C)  Syndicated sellers 
D)  E-intermediaries 
E)  Cybermalls

Question 13

List four types of product line retailers.

Accepted Answer

Department stores, s

Question 14

What term identifies a company's policy of offering all items in certain categories (e.g., men's suits) at a limited number of prices?

Accepted Answer

A)  Price skimming 
B)  Boundary pricing 
C)  Discounting 
D)  Penetration pricing 
E)  Price lining 
A)  Price skimming 
B)  Boundary pricing 
C)  Discounting 
D)  Penetration pricing 
E)  Price lining

Question 15

The use of the telephone to sell directly to consumers is called

Accepted Answer

A)  telemarketing. 
B)  mail marketing. 
C)  mail order. 
D)  direct selling. 
E)  electronic retailing. 
A)  telemarketing. 
B)  mail marketing. 
C)  mail order. 
D)  direct selling. 
E)  electronic retailing.

Question 16

What is the purpose of using break-even analysis when attempting to set prices?

Accepted Answer

A)  To determine the total costs of the product 
B)  To show the cost, volume, and profit relationships 
C)  To compare demand and supply 
D)  To reflect the markup needed to make a profit 
E)  To show the costs which must be considered in setting prices 
A)  To determine the total costs of the product 
B)  To show the cost, volume, and profit relationships 
C)  To compare demand and supply 
D)  To reflect the markup needed to make a profit 
E)  To show the costs which must be considered in setting prices

Question 17

List five sales promotion tools.

Accepted Answer

Coupons, point-of-purchase dis

Question 18

Which of the following is most directly related to differences in transportation cost from mode to mode?

Accepted Answer

A)  Packing necessary for the product 
B)  Fuel efficiency of the carrier 
C)  Regularity of use of a given carrier 
D)  Discount agreements with the carriers 
E)  Delivery speed 
A)  Packing necessary for the product 
B)  Fuel efficiency of the carrier 
C)  Regularity of use of a given carrier 
D)  Discount agreements with the carriers 
E)  Delivery speed

Question 19

Eliminating intermediaries in the channel of distribution means that prices to consumers decline because the intermediaries no longer need to be paid.

Accepted Answer

A) True 
 B)False

Question 20

The two major categories of physical distribution are

Accepted Answer

A)  transportation and materials handling. 
B)  production and operations. 
C)  inventory control and quality control. 
D)  materials handling and inventory control. 
E)  warehousing and transportation. 
A)  transportation and materials handling. 
B)  production and operations. 
C)  inventory control and quality control. 
D)  materials handling and inventory control. 
E)  warehousing and transportation.

Personal selling provides the link between seller and buyer, which adds to a firm's credibility.

What is the fundamental difference between retailers and wholesalers?

What are the advantages and disadvantages of publicity?

Farrah explains why Superior Stereo Systems might not want to set prices for the Superior V at a level that maximizes profits. What do you expect that Farrah will tell Bill?

The communications vehicle that is inexpensive, that effectively segments the customers, but is not very long lasting is

Coupons, point-of-purchase displays, free samples, and trade shows are examples of

Briefly discuss each of the four channels of distribution.

Many e-tailers, such as eBay and Priceline, use ________ pricing.

Which of the following pricing strategies best describes price lining?

Warriners is a family-owned grocery store that sells approximately 12 cases of canned potatoes per year. It orders one case a month from a local wholesaler. This is an example of a

.________ help Internet consumers by gathering and sorting information on comparison products and product features.

List four types of product line retailers.

What term identifies a company's policy of offering all items in certain categories (e.g., men's suits) at a limited number of prices?

The use of the telephone to sell directly to consumers is called

What is the purpose of using break-even analysis when attempting to set prices?

List five sales promotion tools.

Which of the following is most directly related to differences in transportation cost from mode to mode?

Eliminating intermediaries in the channel of distribution means that prices to consumers decline because the intermediaries no longer need to be paid.

The two major categories of physical distribution are

Understanding the Canadian Business System

The Environment of Business

Conducting Business Ethically and Responsibly

Entrepreneurship, Small Business, and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Organizing the Business Enterprise

Managing Human Resources and Labour Relations

Motivating, Satisfying, and Leading Employees

Operations Management, Productivity, and Quality

Understanding Accounting

Understanding Marketing Principles and Developing Products

Money and Banking

Finacial Decisions and Risk Management

Filters

Exam 13: Pricing, Promotion, and Distributing Products

Personal selling provides the link between seller and buyer, which adds to a firm's credibility.

What is the fundamental difference between retailers and wholesalers?

What are the advantages and disadvantages of publicity?

Farrah explains why Superior Stereo Systems might not want to set prices for the Superior V at a level that maximizes profits. What do you expect that Farrah will tell Bill?

The communications vehicle that is inexpensive, that effectively segments the customers, but is not very long lasting is

Coupons, point-of-purchase displays, free samples, and trade shows are examples of

Briefly discuss each of the four channels of distribution.

Many e-tailers, such as eBay and Priceline, use ________ pricing.

Which of the following pricing strategies best describes price lining?

Warriners is a family-owned grocery store that sells approximately 12 cases of canned potatoes per year. It orders one case a month from a local wholesaler. This is an example of a

.________ help Internet consumers by gathering and sorting information on comparison products and product features.

List four types of product line retailers.

What term identifies a company's policy of offering all items in certain categories (e.g., men's suits) at a limited number of prices?

The use of the telephone to sell directly to consumers is called

What is the purpose of using break-even analysis when attempting to set prices?

List five sales promotion tools.

Which of the following is most directly related to differences in transportation cost from mode to mode?

Eliminating intermediaries in the channel of distribution means that prices to consumers decline because the intermediaries no longer need to be paid.

The two major categories of physical distribution are

Understanding the Canadian Business System

The Environment of Business

Conducting Business Ethically and Responsibly

Entrepreneurship, Small Business, and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Organizing the Business Enterprise

Managing Human Resources and Labour Relations

Motivating, Satisfying, and Leading Employees

Operations Management, Productivity, and Quality

Understanding Accounting

Understanding Marketing Principles and Developing Products

Money and Banking

Finacial Decisions and Risk Management

Filters