MKT 411 Test 3t

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The development of functional silos within an organization is considered a key component to achieving successful supply chain process integration. a. True b. False

b. False

The goal of an efficient queuing system is that customers never have to wait in a queue. a. True b. False

b. False

The average transaction at an automatic teller can be completed in six minutes and customers arrive at the average rate of one every ten minutes. On average, how many customers are there in the queue? a. 0.900 Customers b. 0.375 Customers c. 4.000 Customers d. 1.160 Customers

a. 0.900 customers

Having connectivity and visibility to all partners in a firm's supply chain can be accomplished through the use of: a. Cloud-based communication systems b. Score-carding systems c. Legacy MRP systems d. Mobile Marketing

a. Cloud-based communication systems

A customer's lifetime value is calculated by: a. Finding the NPV of a customer's projected lifetime profits for the firm b. Summing the projected annual profitability of the customer c. The firm's MRP system d. Summing the annual sales of the customer and then dividing by the projected lifetime

a. Finding the NPV of a customer's projected lifetime profits for the firm

_______________ carry the majority of the world's water-transported manufactured goods. a. Containerships b. Barges c. Supertankers d. None of these choices are correct.

a. Containerships

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: a. Crossdocking b. Risk pooling c. Piggy backing d. Customs Brokering

a. Crossdocking

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: a. Data warehouse b. Social media site c. QR code site d. Clickstream cloud

a. Data warehouse

According to the text, the development of cleaner, more fuel-efficient affordable energy technologies and renewable energy technologies will: a. Decrease the costs in the supply chain b. Cause companies to shut down c. Increase the cost of production and distribution d. Not have an impact on the supply chain

a. Decrease the costs in the supply chain

Why do so many CRM programs fail? a. Firms concentrate more on the CRM software instead of taking care of customers b. Because of incompatible information and communication systems c. They are so expensive that it is hard to recover the investment d. They take the firm away from concentrating on their key suppliers

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

A ___________________ consolidates large numbers of small shipments to fill entire truck trailers or rail cars to achieve truckload or carload transportation rates. a. Freight forwarder b. Transportation broker c. Consolidation forwarder d. Load broker

a. Freight forwarder

The global process integration software market is expected to: a. Grow by about $100 billion from 2017 to 2021 b. Decrease slightly by the end of 2017 c. Remain constant through 2018 d. Double by the end of 2018

a. Grow by about $100 billion from 2017 to 2021

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: a. Knowledge management system b. Sales territory management system c. Lead management system d. Sales activity management system

a. Knowledge management system

________________ are the most flexible mode of transportation and account for 70 percent of all the freight tonnage moved in the U.S. a. Motor Carriers b. Rail Carriers c. Air Carriers d. Water Carriers

a. Motor Carriers

A product positioned strategy: a. Places warehouses close to the sources of supply b. Places warehouses close to customers c. Places warehouses midway between the sources of supply and the customers d. None of these choices are correct.

a. Places warehouses close to the sources of supply

Foreign-trade zones are: a. Secure sites within the U.S. where goods and materials can be assembled and exported without being levied domestic duties or excise taxes b. Markets in the U.S. where foreign countries set up and sell products c. Secure sites in foreign countries where goods wait for clearance by importing country d. Bodies of water where cargo ships are allowed to dock to deliver imported goods

a. Secure sites within the U.S. where goods and materials can be assembled and exported without being levied domestic duties or excise taxes

According to the text, which of the following would be an example of Coca-Cola's international bottling plants, each serving a small geographic region? a. Server factory b. Source factory c. Offshore factory d. Outpost factory

a. Server factory

Failing to see the big picture and acting only in regard to single firm in the supply chain can be referred to as: a. Silo mentality b. Balking c. Cross-selling d. Shortage gaming

a. Silo mentality

What type of firm would be most interested in using a third-party logistics service? a. Small firm with no logistics expertise b. Large integrated global manufacturing company c. A for-hire transportation company d. A freight forwarder

a. Small firm with no logistics expertise

Which of the following is NOT a reason for locating in a business cluster? a. Sophisticated retailers b. Competition c. Technology sharing d. Supply chain improvements

a. Sophisticated retailers

According to the text, poor planning is typically the cause of most unsuccessful CRM initiatives. a. True b. False

a. True

High tariffs encourage multinational corporations to set up factories to produce locally. a. True b. False

a. True

The European Union (EU) is considered a regional trade agreement. a. True b. False

a. True

The responsibility of transportation is to create both time utility and place utility, which means that products will be delivered at the right time to the desired location. a. True b. False

a. True

When demand exceeds a supplier's finished goods available, a supplier may allocate product in proportion to what buyers ordered. This rationing often results in shortage gaming by the suppliers' customers. a. True b. False

a. True

The average transaction at a single channel, single phase automatic teller can be completed in 7.5 minutes and customers arrive at the average rate of one every ten minutes. On average, what is the server utilization? (Choose the closest answer.) a. 0.167 b. 0.75 c. 1.33 d. 0.125

b. 0.75

When CRM applications are available 24/7 on smartphones, tablets, and desktops, this is referred to as: a. Smart CRM b. Continuous connectivity c. A high-service application d. All-time CRM

b. Continuous connectivity

For integrated supply chains, logistics is considered: a. Not at all important b. Critically important c. Somewhat important d. Important

b. Critically important

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: a. Personal holiday marketing b. Event-based marketing c. Segmented selling d. Extreme segmentation marketing

b. Event-based marketing

All of the following are recommended for designing and implementing a successful CRM program EXCEPT: a. Knowledge of the tools available to aid in CRM b. Expect employees to 'learn on the job' and adapt their way of working c. Continuous awareness of customers' changing requirements d. Support from the firm's top executives

b. Expect employees to 'learn on the job' and adapt their way of working

A firm is comparing two potential service layouts using the Closeness Desirability Rating. Option 1's closeness desirability score is 18. Option 2's closeness desirability score is 22. It can be concluded that Option 1 layout is better. a. True b. False

b. False

A primary advantage for motor carriers is the weather. a. True b. False

b. False

The three inputs for calculating Customer Lifetime Value are Average Annual Sales, Expected Lifetime and Forecasted Profits. a. True b. False

b. False They are the average value of a sale, average number of transactions, and the average customer retention period

Mapping the network of primary trading partners is something that should be done to: a. Assess and improve internal integration of key supply chain processes b. Help the firm decide which businesses to include in its supply chain management efforts c. Review and establish supply chain strategies d. Obtain point-of-sale information from customers

b. Help the firm decide which businesses to include in its supply chain management efforts

Which of the following is NOT a technique for managing customers' perceived waiting times: a. Grouping customers b. Hiding the wait time c. Starting the service quickly d. Keeping customers occupied

b. Hiding the wait time

The first step in the weighted-factor rating technique is to: a. Multiply each factor score by its weight and sum the weighted scores for each location b. Identify all factors considered important to the facility location decision c. Assign a performance score to each factor for each location d. Assign a weight to each factor

b. Identify all factors considered important to the facility location decision

It is argued that transportation deregulation is good because: a. It ensures adequate transportation service throughout the country b. It encourages competition c. It protects consumers in terms of monopoly pricing d. All of these choices are correct.

b. It encourages competition

According to the text, all of the following are considered key supply chain business processes EXCEPT: a. Supplier relationship management process b. Knowledge management process c. Product development and commercialization d. Manufacturing flow management process

b. Knowledge management process

A basic strategy for managing capacity is: a. Focus strategy b. Level demand strategy c. Differentiation strategy d. Queue management strategy

b. Level demand strategy

Service provided by multiple servers acting in parallel is referred to as: a. Multiple-phase queuing system b. Multiple-channel queuing system c. Multi-platform servicescape d. Multi-delivery servicescape

b. Multiple-channel queuing system

Which of the following has made external integration more difficult to achieve? a. Increased number of franchise operators b. Problems with internal integration efforts c. Lack of software applications to coordinate the effort d. Identifying key trading partners

b. Problems with internal integration efforts

Which of the following is a critical issue in sustainable development? a. Countertrade b. Supply base optimization c. Labor and legal problems d. Climate change

d. Climate change

All of the following are included in the five dimensions of service quality EXCEPT: a. Reliability b. Reasonability c. Responsiveness d. Assurance

b. Reasonability -The five service quality dimensions are: tangibility, reliability, responsiveness, assurance, and empathy

Reverse logistics can have a positive impact on the environment through activities such as? a. Data warehousing b. Recycling c. Reneging d. Risk pooling

b. Recycling

Substance disposal and recycling are part of which supply chain business process: a. Customer relationship management process b. Returns management c. Customer service management process d. Product development and commercialization process

b. Returns management

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: a. Sales activity management system b. Sales territory management system c. Lead management system d. Knowledge management system

b. Sales territory management system

The four primary activities of concern in service response logistics are the management of: a. Service capacity, visual workplace, waiting times and distribution channels b. Service capacity, waiting times, distribution channels and service quality c. Labor standards, distribution channels, waiting times and service quality d. Distribution channels, service quality, reputation and waiting times

b. Service capacity, waiting times, distribution channels and service quality

Assuming the number of arrivals per time period is Poisson distributed with a mean arrival rate of 3 customers per hour, determine the mean interarrival time. a. 60 minutes b. 3 minutes c. 20 minutes d. 12 minutes

c. 20 minutes

Which of the following is a direct benefit from the adoption of NAFTA? a. An increase in trade between U.S. and China b. A reduction in immigrants crossing the border from Mexico c. An increase in trade between U.S., Canada, and Mexico d. An increase in manufacturing job opportunities in the U.S.

c. An increase in trade between U.S., Canada, and Mexico

Examples of regional trade agreements include all of the following EXCEPT: a. European Union (EU) b. Southern Common Market (MERCOSUR) c. Association of Indian Markets (AIM) d. Association of Southeast Asian Nations (ASEAN)

c. Association of Indian Markets (AIM)

Security activities such as; Use of security badges and guards, conducting background check on applicants and using antivirus software and passwords, would be classified as: a. Reactive Initiatives b. Proactive Initiatives c. Basic Initiatives d. Advanced Initiatives

c. Basic initiatives

Interconnected companies and institutions from a particular field which are located in a single geographic location, are referred to is a(n): a. Metroplex b. Industrial point c. Business cluster d. Regional business center

c. Business cluster

A practical independent measure firms can take to improve information security is: a. Eliminate employee internet use at work b. Do not collect information about their customers c. Continuously monitor employee desktop applications, e-mails and phone calls d. None of these choices are correct.

c. Continuously monitor employee desktop applications, e-mails and phone calls

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: a. Target marketing b. Clickstream selling c. Cross-selling d. Segmented selling

c. Cross-selling

Which of the following are required elements of an effective CRM initiative? a. Preserving a traditional sales force that communicates with the supply-chain members b. Sending out promotional materials via e-mails and traditional mail to a large random group of a potential customers c. Cross-selling customers after an initial purchase d. All of these choices are correct.

c. Cross-selling customers after an initial purchase

A customer approaches a firm with a question regarding her order status and shipping date; the information the firm provides is an example of which of the eight key supply chain business processes: a. Demand management process b. Order fulfillment process c. Customer service management process d. Supply management process

c. Customer service management process

All of the following are considerations used in designing service layouts EXCEPT: a. Impulse purchasing b. Reduction of time to restock c. Ease of access to parking lot d. Speed up customer throughput

c. Ease of access to parking lot

Building, maintaining and strengthening beneficial relationships with suppliers and customers is accomplished through the use of: a. Expediting b. Data warehouses c. External process integration d. All of these choices are correct.

c. External process integration

The difference between customer expectations and customer perceptions of what was actually received during the service encounter is referred to as service quality ________. a. Breakeven point b. Blips c. Gaps d. Bloops

c. Gaps

____________________ tends to reduce safety stocks among supply chain members, generating even less variability in supply chain orders? a. Internal quality standards b. Forward Integration c. Information visibility d. All of these choices are correct.

c. Information visibility

In the text, Table 9.1 shows that for-hire logistics expenditures in the U.S., have _____________ in the past thirty-one years. a. Remained the same b. Slowly declined c. More than quadrupled d. Decreased for the first 10 years, then increased

c. More than quadrupled

When salespeople need to fill end-of-quarter or end-of-year sales quotas they might use ___________, which creates greater use of safety stock causing the bullwhip effect. a. Order fulfillment b. Bullwhip ordering c. Order batching d. Stockpiling

c. Order batching

Your company allows customers to "opt-out" of receiving email advertisements. This is referred to as: a. Customer churn b. Customer preference marketing c. Permission marketing d. Event-based marketing

c. Permission 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: a. Probable customer churn b. Transaction customer service c. Post transaction customer service d. Pre transaction customer service

c. Post transaction customer service

Which of the following secures the right of employees to decide whether to join or financially support a union? a. Ethical union initiatives b. Union planning forums c. Right-to-work laws d. Union shop laws

c. Right-to-work laws

Which of the following is one of the most basic and important activities of CRM? a. Increasing churn b. Finding customers c. Segmenting customers d. Cross-selling customers

c. Segmenting customers

As capacity utilization approaches 1.0, which of the following tends to happen? a. Perceived quality of service improves b. Wait times decrease c. Services become more congested d. Service times decrease

c. Services become more congested

Which of the following is a difference between goods and services? a. Goods are often unique b. Goods have high customer-service interaction c. Services cannot be inventoried d. All of these choices are correct.

c. Services cannot be inventoried

Influencing and increasing the capabilities of a firms own employees, as well as those of their trading partners, will help to eliminate which of the following obstacles to process integration? a. Lack of trust b. Lack of Knowledge c. Shortage Gaming d. Risk Pooling

c. Shortage Gaming

CRM systems today require less training because: a. The systems don't do as many things as they used to. b. Pre-purchase training sessions have become very sophisticated c. They are designed to be more user-friendly d. All of these choices are correct.

c. They are designed to be more user-friendly

Which of the following would NOT be considered an acceptable option in managing capacity when demand exceeds available service capacity? a. Cross-training and sharing employees b. Using customers to provide services c. Utilizing fewer facilitating products d. Utilizing technological tools like computers and automated systems

c. Using fewer facilitating products

If the average service rate is 12 minutes per customer, and assuming the negative exponential distribution is used to describe the randomness of the service time distribution, then determine the probability that the service time will be less than or equal to 10 minutes. a. 0.000 b. 0.624 c. 0.283 d. 0.565

d. 0.565

Facility location has ____________on the supply chain. a. Minimal impact b. A short-term impact c. No impact d. A long-term impact

d. A long-term impact

Regional trade agreements assist with which of the following? a. Handle trade disputes b. Monitor national trade policies c. Provide technical assistance for developing countries d. All of these choices are correct.