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Reduces transit time

Using a freight forwarder usually

Electronic data interchange

A commonly used computerized means of integrating order processing with production inventory, accounting, and transportation is

Use premium pricing for its products

A company trying to position itself as value oriented should NOT

Unauthorized resellers acquire and sell products or counterfeits, violating the agreement between a manufacturer and its exclusive authorized dealers

A problem that can arise with exclusive (and selective) distribution is that

General-merchandise retailer

A retail establishment that offers a variety of product lines that are stocked in significant depth is best classified as a

An increase in lost sales

An inventory stock out results in

76.7%

Beats by Dr. Dre headphones are sold at target for $159.00 and target is able to purchase them for $90. What is the markup percentage of cost that target is using on this product

Considers cost to be secondary to competitors pricing You will set your price at or below competitor Common method among homogenous products

Competition based pricing is

Telemarketing

Which of the following is the performance of marketing-related activities by telephone

Cut out the tasks they do. This means you will have to do the tasks yourself which could eat up the money you would have saved

Cutting out the middleman will

Manufactures agent

Dawkins Industries wants to hire an intermediary to help with the distribution of its products. Management needs an intermediary that will represent the company as sellers, but also wants to retain control over pricing and promotion decisions. It should most likley hire a

Superstore

Elena goes to Walmart and buys some clothing, a Blu-ray disc, and all the groceries she needs for her family. What type of retailer is this particular Walmart

Captive pricing

Epson sells some of its color printers for about $100, but the refill cartridge's cost over $30 each. Epson's pricing strategy would be best labeled as

1167 units 175,000 / (250 - 100) = 1,166.6667 units

Hopper Industries determines that for its air compressors the following results are achieved at a price of $250: total costs = $250,000; variable costs per unit = $100; fixed costs = $175,000. Given these figures, Hopper would break even at _____ units

Fixed costs / (Selling price - Variable price) = Breakeven point

How is the breakeven point calculated?

Manufacturing Agent

If Craig Nelson helps clients to buy or to sell used portable water well or oil well drilling equipment and is compensated based on a commission he would be known as a

Direct

If a consumer were to approach a bakery in a grocery store to make a birthday cake, what channel of distribution does this represent?

increase the reorder point

If a retailer is reviewing its inventory and notices that the order lead time for one of the products it stocks has increased, the retailer should

5000 units Equation units to sell to attain target profit: (Fixed cost + Profit) / (Selling price - Variable cost per unit = units

If the owner of a business wishes to make an $80,000 profit, what is the number of units that must be sold under the following conditions.... Selling price = $100, Variable cost per unit = $60, Fixed cost = $120,000

A party plan or Direct selling

Jessica invites a sales rep from The Pampered Chef, a company that sells kitchen tools to her home. The representative brings sample products to Jessica and 10 other friends. Once the presentation is over, the rep takes orders from Jessica and the guests. This is an example of?

Cost

Mark up and cost plus are different types of _______ based pricing

Return on investment

Most pricing objectives based on _____ are achieved by trial and error because not all cost and revenue data are available when prices are set

Involves ending a price with certain numbers 4.99 is better than 5 to pay Odd makes you think you're getting a deal

Odd-Even pricing is

Category killer

Office Depot is an example of a

Multiple-unit pricing, lower per unit price

Product such as light bulbs, canned soft drinks, and ice cream sandwiches are usually priced using ____ which usually results in a _____

Non-price competition

Sellers that emphasize distinctive product features to encourage brand preferences among customers, rather than price, are practicing

Differential pricing

Some colleges charge a higher tuition for certain majors, such as business, engineering, and medicine. This pricing scheme is known as

Periodic discounting

Some retailers utilize ________ as a pricing strategy by offering discounts after Christmas or back-to-school offers to attract consumers to shop. However, this strategy may backfire as consumers may put off purchases in anticipation of a sale or reduced price offer

Off price retailers

Stores such as TJ Maxx, Burlington Coat Factory, and Marshalls, which buy manufactures' seconds, overruns, returns and off-season production runs at below wholesale price for resale to consumers at deep discounts are called?

Penetration

Taco Bell was the first fast food restaurant to reduce price while maintaining the same quality and quantity. This type of pricing strategy is best defined as

firms seek to benefit from economies of scale; Many manufacturers prefer mass production with its economies of scale - which means that as a company produces larger numbers of a particular product, the cost of each unit of the

The discrepancy in assortment exists because

Multichannel retailing

The use of multiple distribution channels that integrate organizations brick and mortar stores with websites, catalogs, and apps where consumers can research products, read other buyers reviews, and make actual purchases is known as

Price skimming

When Texas Instruments first introduced its line of graphing calculators, it set the price quite high, it has lowered the price as competitors have entered the market. The pricing strategy initially used by Texas Instruments is called

10 6 producers x consumers = 24 transactions 6 producers and 4 consumers 6 producers + 4 consumers = 10 transactions

When four buyers purchase the products of 6 producers, 24 transactions are required. If one intermediary serves both producers and buyers the number of possible transactions is

Buying a printer for computer and needing to buy print cartridges for that model Razor and razor blades

Which of the following is an example of captive pricing

Elasticity Market share, Profit, Competitive effect, and Image enhancement are all pricing objectives

Which of the following is not a type of pricing objective?

A major advantage of price competition is flexibility

Which of the following is true about price competition

When calculating the break-even point, income taxes play no role. It is calculated using variable costs, the unit price, and fixed costs

Which of the following statements are true about breakeven analysis

Periodic discounting

You are the marketing manager for a multistate auto dealership in the southeast United States. It is that time of year when your company experiences a model year change. You are putting the final touches on your pricing strategy to facilitate this change in your inventory of autos. Which of the following pricing strategies will you use to facilitate this model year change?

Third party logistics firm

_____ have special expertise in core physical distribution activities such as warehousing, transportation, inventory management, and information technology and can often perform these activities more efficiently

Discount retailing

______ developed on a large scale in the early 1950s, when postwar production caught up with strong consumer demands for goods