MKG 460 CH 9 & 10 Studyguide

What does the term "Zombie Inventory" refer to?:

(inventory that just won't die). It sits unsold in storerooms, takes up space on store shelves, or creates bottlenecks in distribution centers, as workers try to determine what should be recycled, repaired, or discarded.

Cleary - _____________________________________ is not among the NEGOTIATION PROCESS considerations.

- Compromise on "Wannas" to Buy "Gottas" - Pick Up the Points for Doing So - Test Depth of Commitment - Layers of Interests (Everyone Has a Boss) - Take the Long View - Credibility Counts - Brainstorm: It's Your Job to Find a Solution

Cleary - _______________________________________________ was one of the PREPARATION observations Cleary made about preparation for negotiations.

- Espionage and Empathy - Principles - Priorities: "Gottas" vs. "Wannas" - Is this an Ongoing Relationship?

Cleary - ___________________________________ is not among the RULES

- Nothing is Ever Off the Table - Final Doesn't Mean Final Noise is Part of the Process - 50% Psychology and 50% Sales - Be Persistent - Don't Negotiate, Mediate - Be Patient: Negotiations Are Full of Ups and Downs - Momentum is in Favor of an Agreement - You Don't Have to Make a Bad Deal

Foreign-trade zones are:

Also called outward processing zones or export processing zones

What does LTL stand for in the transportation industry?

B. Less-Than-Truckload

According to the text, FOB destination pricing is typically preferred for all of the following EXCEPT:

C. Buyer is purchasing a reoccurring order

The first major transportation regulation in the U.S. was which of the following:

C. Granger Laws

Which of the following international intermediaries helps foreign buyers and sellers find each other and then handles all of the shipping arrangements and documentation preparation?

C. Trading Company

Which of the following would be considered an act of deregulation?

C. Trucking Industry Regulatory Reform Act-Motor carriers freed from filing rates with the Interstate Commerce Commission

Which of the following modes of cargo transport can be characterized as being the most inexpensive and very slow, yet good for transporting very heavy goods a long-distance?

C. Water Carriers

_____________________ is not one of the impacts of the Bullwhip effect identified by Hau Lee.

Causes: - Order Batching - Price Fluctuations - Demand Forecast Updating -Rationing and Shortage Gaming

Which of the following types of warehouses takes a large number of LTL shipments and repackages them in TL or CL quantities to a manufacturer or user-facility located in another area or region?

Consolidated Warehouse

The acts of receiving shipments, breaking down shipments, repackaging shipments, and distributing components to a manufacturing location or finished products to customers by a distribution center is referred to as:

Cross docking

The online retailer Ecatalog.com has decided to send consumers of the new John Grisham book an e-mail with suggestions for books with similar themes and has also offered them a 20% discount if those suggested books were purchased. This type of marketing/promotion is an example of:

Cross-selling

Companies work very hard to reduce the number of their present customers which never return. This customer defection is often referred to as:

Customer churn

Which of the following customer service elements can be classified as examples of posttransaction elements?

Customer complaint resolution

CRM can allow organizations to identify which customers have stopped purchasing products or services from the organization so that the organization can target those former customers for future promotions and/or perhaps to investigate why they stopped purchasing in the first place. The CRM attribute is called:

Customer defection analysis

Which of the following is NOT a characteristic of cost-of-service pricing?

D. Carriers price their services at the highest levels the markets will bear

Which of the following carriers typically transports goods for the company that owns the carrier, they are not subject to economic regulation, and since the fleets are rather large the cost of transport is very likely less than if the company had hired another company to provide the service?

D. Private Carrier

Which of the following legislative acts is NOT in support of transportation deregulation?

D. Reed-Bulwinkle Act

Which of the following is a U.S. law which requires compliance by all firms engaged in handling customer information:

Data Protection Act in the U.K., The Internet Privacy Law in the E.U., and the U.S. Patriot Act.

Users in a company can retrieve and study a large amount of information about consumers by housing that information in a centralized database that is commonly referred to as a:

Data warehouse

The following are all examples of lean warehousing capabilities EXCEPT:

Decreased assembly operations

When an organization attempts to offer the right products and services to customers at the right time through the offer of individual promotions tied to specific events, like birthdays and anniversaries, this is referred to as:

Event-based marketing

Why do so many CRM programs fail?

Firms concentrate more on the CRM software instead of taking care of customers

A transportation intermediary used to consolidate large numbers of small shipments to fill entire truck trailers or rail cars to achieve truckload or carload transportation rates is referred to as:

Freight forwarder

Which of the following is similar to a travel agent for cargo since they provide services like documentation completion, special rate handling, and customs clearance, in addition to their consolidating of small shipments to fill entire truckloads?

Freight forwarder

Which of the following was NOT mentioned in the textbook as being one of the more popular logistics management software applications?

Freight management systems

Hau Lee's research does not identify the ___________________ evolutionary stage for Implementation of Technological Innovation when they use the Internet for their Supply Chain management activities.

Identifies: - Substitution - Scale - Structural

It is argued that transportation deregulation is good because:

It encourages competition and allows prices to adjust as demand and negotiations dictate

Your top sales executive leaves your company to work for a competitor. Fortunately, all of her notes regarding prior dealings with customers have been captured in a:

Knowledge management system

All of the following are recommended for designing and implementing a successful CRM program EXCEPT:

Knowledge of the tools available to aid in CRM

The process of planning, implementing, and controlling procedures for the efficient and effective transportation and storage of goods including services, and related information from the point of origin to the point of consumption for the purpose of conforming to customer requirements is also referred to as:

Logistics

Which of the following is NOT consistent with a decentralized warehousing system?

Lower total operating costs

The use of quick response codes (QR Codes) to retrieve marketing information is a type of:

Mobile marketing

You are a manager at Sunnydale Appliances. A customer who recently purchased a dishwasher contacts you with a problem and requests warranty information. According to the text, this is an example of:

Posttransaction customer service

The element of a CRM program in which a customer's lifetime value is calculated is referred to as:

Predicting customer behaviors

The element of a CRM program involved with the use of data-mining software and customer behavior analytics is:

Predicting customer behaviors

Federal Arbitrator Patrick Cleary identified elements or activities that are part of negotiations. ___________________________ is not one of the PROCESS elements or issues he recognized as part of Negotiations.

Process Elements: - Ego - Saving Face - Power - "Being Right" - Goal: Make a Deal

Which of the following is a direct benefit from the adoption of NAFTA?

Procurement

According to the text, a warehouse location strategy that proposes locating a warehouse closest to the sources of supply is referred to as:

Product positioned strategy

Your company's marketing efforts allow customers to "opt-out" of receiving email advertisers. This is referred to as:

Relationship marketing

A system which allows sales managers to obtain current information and reporting capabilities regarding each salesperson's activities on each customer's account is referred to as a:

Sales territory management system

Which of the following are required elements of an effective CRM initiative?

Segmenting customers

Which of the following is one of the most basic and very important activities of CRM?

Segmenting customers

You work for a company that segments customers by demographic information markets specifically to those customers who are located in the Los Angeles area. This is an example of:

Target marketing

All of the following are required elements for the development of an effective CRM initiative EXCEPT:

Utilization of MRP

Transportation Management systems enhance their supply chain management effectiveness by:

allow firms to find carriers, select the best mix of transportation services and pricing to determine the best use of containers or truck trailers, better man- age transportation contracts, rank transportation options, clear customs, track fuel usage and product movements, and track carrier performance.

According to the text, firms are using social media for all of the following EXCEPT:

create user forums where technical support and other customer questions are answered by other customers.

Logistics affects the supply chain function by:

logistics is what creates the flow of goods between supply chain partners, such that costs, service requirements, competitive advantage, and profits can be optimized.

Cloud based CRM services are particularly useful for:

offers access to the application via Web-based tools (or Web browser) logins where the CRM system administrator has previously defined access levels across the organization. Employees can log in to the CRM system, simultaneously, from any Internet-enabled computer or device.

A practical independent measure firms can take to improve information security is:

to develop a privacy policy and post it on the company website as well as on other information-gathering forms; allow customers to opt-in and out of mailing lists and promotional campaigns; allow customers to access their accounts online so they can view the information collected about them; require customers to state their privacy preferences, build this into their profiles, and use these preferences when developing one-to-one promotions; make someone in the firm responsible for enforcing privacy policies and communicating these to employees and customers; and continuously monitor employee desktop applications, website activity, e-mails, instant messages, and phone calls.