Question 1

What is nondirect distribution? Describe the various distribution channels.

Accepted Answer

Wholesaler,retailers,agents,distributors are commonly referred to as intermediaries.Nondirect distribution uses these intermediaries to deliver products or services to the end users.Intermediaries-frequently small businesses themselves-provide the service of getting the product to the end consumer,including such functions as inventory control,advertising and promotion,delivery and warranty services,to name a few. Retailer: A middleman business which sells to consumers or end-users of a product (typically in single or small quantities). Wholesaler: A middleman business which buys (typically in large quantities)and sells (typically in smaller quantities)to businesses rather than consumers. Agent: A middleman business which represents a manufacturer's product or service to other business-to-business middleman firms.

Question 2

Wholesalers,retailers,distributors,agents are commonly referred to as ______.

Accepted Answer

A)  freight forwarders 
B)  intermediaries 
C)  born internationals 
D)  traffic generators 
A)  freight forwarders 
B)  intermediaries 
C)  born internationals 
D)  traffic generators B

Question 3

Distributors and wholesalers prefer taking on start-up products as there are no setup charges involved.

Accepted Answer

A) True 
 B)False  False

Question 4

________ is probably the most widely used of the many pricing methods available.

Accepted Answer

A)  Prestige pricing 
B)  Skimming 
C)  Partitioned pricing 
D)  Markup pricing 
A)  Prestige pricing 
B)  Skimming 
C)  Partitioned pricing 
D)  Markup pricing

Question 5

When pricing your product,the optimum price is the highest price that will produce your desired level of sales in your intended market.

Accepted Answer

A) True 
 B)False

Question 6

A _____ is an example of a low customer contact business.

Accepted Answer

A)  retail establishment 
B)  medical or legal office 
C)  restaurant 
D)  manufacturing business 
A)  retail establishment 
B)  medical or legal office 
C)  restaurant 
D)  manufacturing business

Question 7

Setting the price for an item relatively low and then charging much higher prices for the expendables it uses is called ________.

Accepted Answer

A)  price lining 
B)  premium pricing 
C)  price skimming 
D)  captive pricing 
A)  price lining 
B)  premium pricing 
C)  price skimming 
D)  captive pricing

Question 8

Guerilla marketing is a form of communication that encourages the customer to act immediately,such as coupons,sales,or contests.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following can be exercised only when presented with specified shipping records?

Accepted Answer

A)  A documentary draft 
B)  A letter of credit 
C)  A mail order 
D)  A codicil 
A)  A documentary draft 
B)  A letter of credit 
C)  A mail order 
D)  A codicil

Question 10

A(n)_____ refers to the practice of purchasing and accepting delivery of inventory only after it has been sold to the final customer.

Accepted Answer

A)  just-in-time inventory 
B)  macro inventory 
C)  micro inventory 
D)  in-process inventory 
A)  just-in-time inventory 
B)  macro inventory 
C)  micro inventory 
D)  in-process inventory

Question 11

Which of the following is not one of the four key factors considered when determining an optimum price?

Accepted Answer

A)  Value delivered to the customer 
B)  Supply chain costs 
C)  Your business strategy and product placement 
D)  Prices set my competing firms 
A)  Value delivered to the customer 
B)  Supply chain costs 
C)  Your business strategy and product placement 
D)  Prices set my competing firms

Question 12

Face-to-face meetings with the client are infrequent if the services are provided at the client's location.

Accepted Answer

A) True 
 B)False

Question 13

When finally setting the actual price of your product or service,there are several contextual factors including your company objectives,your marketing strategy,competition,channels of distribution,and legal and regulatory issues to consider.Which of the following statements is not true when considering these factors?

Accepted Answer

A)  The customer's end price is usually higher than your price due to price escalation. 
B)  Pricing off a competitor's price is as easy as picking a percent,say 80%,and charging that price for your product or service. 
C)  Some forms of price discrimination are illegal. 
D)  Firms that compete on price may experience negative growth. 
A)  The customer's end price is usually higher than your price due to price escalation. 
B)  Pricing off a competitor's price is as easy as picking a percent,say 80%,and charging that price for your product or service. 
C)  Some forms of price discrimination are illegal. 
D)  Firms that compete on price may experience negative growth.

Question 14

Explain the pros and cons of direct response advertising forms.

Accepted Answer

The pros and cons of your media choice a

Question 15

Which of the following statements is true of a direct mail approach?

Accepted Answer

A)  It is a challenge to find the right market using this method. 
B)  It involves major inventory investments. 
C)  It is seen by most customers as a form of home invasion. 
D)  It does not need adequate preparation before selling a product. 
A)  It is a challenge to find the right market using this method. 
B)  It involves major inventory investments. 
C)  It is seen by most customers as a form of home invasion. 
D)  It does not need adequate preparation before selling a product.

Question 16

Which of the following statements is true of pricing strategy?

Accepted Answer

A)  Small businesses should have smaller prices too. 
B)  Most consumers decide on a product using price as the number one factor. 
C)  An entrepreneur's first goal in pricing is to set the price as high as they think they can. 
D)  Avoid sale prices as they lead to price wars. 
A)  Small businesses should have smaller prices too. 
B)  Most consumers decide on a product using price as the number one factor. 
C)  An entrepreneur's first goal in pricing is to set the price as high as they think they can. 
D)  Avoid sale prices as they lead to price wars.

Question 17

Which of the following layouts is most appropriate for low-volume,flexible manufacturing?

Accepted Answer

A)  Process layout 
B)  Production line layout 
C)  Free-form layout 
D)  Grid layout 
A)  Process layout 
B)  Production line layout 
C)  Free-form layout 
D)  Grid layout

Question 18

Skimming,odd-even pricing,and price lining are three possible pricing strategies available to small businesses.

Accepted Answer

A) True 
 B)False

Question 19

Identify the layout that is very efficient and organized but lacks some visual impact.

Accepted Answer

A)  Production line layout 
B)  Process layout 
C)  Grid layout 
D)  Free-form layout 
A)  Production line layout 
B)  Process layout 
C)  Grid layout 
D)  Free-form layout

Question 20

E-tailers have high overhead and limited shelf space.

Accepted Answer

A) True 
 B)False

What is nondirect distribution? Describe the various distribution channels.

Wholesalers,retailers,distributors,agents are commonly referred to as ______.

Distributors and wholesalers prefer taking on start-up products as there are no setup charges involved.

________ is probably the most widely used of the many pricing methods available.

When pricing your product,the optimum price is the highest price that will produce your desired level of sales in your intended market.

A _____ is an example of a low customer contact business.

Setting the price for an item relatively low and then charging much higher prices for the expendables it uses is called ________.

Guerilla marketing is a form of communication that encourages the customer to act immediately,such as coupons,sales,or contests.

Which of the following can be exercised only when presented with specified shipping records?

A(n)_____ refers to the practice of purchasing and accepting delivery of inventory only after it has been sold to the final customer.

Which of the following is not one of the four key factors considered when determining an optimum price?

Face-to-face meetings with the client are infrequent if the services are provided at the client's location.

Explain the pros and cons of direct response advertising forms.

Which of the following statements is true of a direct mail approach?

Which of the following statements is true of pricing strategy?

Which of the following layouts is most appropriate for low-volume,flexible manufacturing?

Skimming,odd-even pricing,and price lining are three possible pricing strategies available to small businesses.

Identify the layout that is very efficient and organized but lacks some visual impact.

E-tailers have high overhead and limited shelf space.

Small Business: Its Opportunities and Rewards

Small Business Entrepreneurs: Characteristics and Competencies

Small Business Environment: Managing External Relations

Small Business Ideas: Creativity, opportunity, and Feasibility

Small Business Entry: Paths to Part-Time Entrepreneurship

Small Business Entry: Paths to Full-Time Entrepreneurship

Small Business Strategies: Imitation With a Twist

Business Plans: Seeing Audiences and Your Business Clearly

Small Business Marketing: Product and Pricing Strategies

Small Business Promotion: Capturing the Eyes of Your Market

Small Business Accounting: Projecting and Evaluating Performance

Cash: Lifeblood of the Business

Small Business Finance: Using Equity, debt, and Gifts

Assets: Inventory and Operations Management

Small Business Protection: Risk Management and Insurance

Legal Issues: Recognizing Your Small Business Needs

Human Resource Management: Small Business Considerations

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Exam 11: Small Business Distribution and Location

What is nondirect distribution? Describe the various distribution channels.

Wholesalers,retailers,distributors,agents are commonly referred to as ______.

Distributors and wholesalers prefer taking on start-up products as there are no setup charges involved.

________ is probably the most widely used of the many pricing methods available.

When pricing your product,the optimum price is the highest price that will produce your desired level of sales in your intended market.

A _____ is an example of a low customer contact business.

Setting the price for an item relatively low and then charging much higher prices for the expendables it uses is called ________.

Guerilla marketing is a form of communication that encourages the customer to act immediately,such as coupons,sales,or contests.

Which of the following can be exercised only when presented with specified shipping records?

A(n)_____ refers to the practice of purchasing and accepting delivery of inventory only after it has been sold to the final customer.

Which of the following is not one of the four key factors considered when determining an optimum price?

Face-to-face meetings with the client are infrequent if the services are provided at the client's location.

Explain the pros and cons of direct response advertising forms.

Which of the following statements is true of a direct mail approach?

Which of the following statements is true of pricing strategy?

Which of the following layouts is most appropriate for low-volume,flexible manufacturing?

Skimming,odd-even pricing,and price lining are three possible pricing strategies available to small businesses.

Identify the layout that is very efficient and organized but lacks some visual impact.

E-tailers have high overhead and limited shelf space.

Small Business: Its Opportunities and Rewards

Small Business Entrepreneurs: Characteristics and Competencies

Small Business Environment: Managing External Relations

Small Business Ideas: Creativity, opportunity, and Feasibility

Small Business Entry: Paths to Part-Time Entrepreneurship

Small Business Entry: Paths to Full-Time Entrepreneurship

Small Business Strategies: Imitation With a Twist

Business Plans: Seeing Audiences and Your Business Clearly

Small Business Marketing: Product and Pricing Strategies

Small Business Promotion: Capturing the Eyes of Your Market

Small Business Accounting: Projecting and Evaluating Performance

Cash: Lifeblood of the Business

Small Business Finance: Using Equity, debt, and Gifts

Assets: Inventory and Operations Management

Small Business Protection: Risk Management and Insurance

Legal Issues: Recognizing Your Small Business Needs

Human Resource Management: Small Business Considerations

Filters