exam 3 pt 2
Which of the following represents the four major classifications of retail organizations? A. Corporate chains, voluntary chains, wholesalers, and franchise organizations B. Corporate chains, wholesalers, superstores, and franchise organizations C. Corporate chains, voluntary chains, retailer cooperatives, and wholesalers D. Corporate chains, voluntary chains, retailer cooperatives, and franchise organizations E. Discount stores, service retailers, superstores, and supermarkets
Corporate chains, voluntary chains, retailer cooperatives, and franchise organizations
Which of the statements is TRUE regarding media and message decisions? A. Media and message decisions are independent of each other. B. Media and message decisions have no relationship to budgeting. C. Message decisions are now more important than media decisions. D. Media and message decisions have no impact on results. E. Media and message decisions should be closely coordinated.
Media and message decisions should be closely coordinated.
Which of the following types of wholesalers are Independently owned businesses that take title to all merchandise handled? A. Merchant wholesalers B. Rack jobbers C. Brokers D. Manufacturers' agents E. Industrial distributors
Merchant wholesalers
Which of the following represents a new trend in logistics to save costs, increase efficiencies, and gain faster and more effective access to global markets? A. Just-in-time logistics B. Outsourcing logistics functions C. Vendor managed inventory D. Electronic data exchange E. RFID and barcode tracking
Outsourcing logistics functions
Retailers must decide on which three major product variables? A. Product assortment, services mix, and store atmosphere B. Product assortment, price, and location C. Product assortment, store atmosphere, and price D. Product assortment, services mix, and location E. Product assortment, services mix, and price
Product assortment, services mix, and store atmosphere
___________________is used to build and maintain national or local community relationships and is one of the functions of public relations. A. Press relations B. Public affairs C. Investor relations D. Lobbying E. Development
Public affairs
Which consumer promotion tool is like coupons, except that the price reduction occurs after the purchase rather than at the retail outlet? A. Rebates B. Contests C. Digital coupons D. Premiums E. Samples
Rebates
Which advertising objective is best suited to maintaining customer relationships and for more mature products? A. Humorous B. Reminder C. Informative D. Persuasive E. Attack
Reminder
Which of the following retail trends is making differentiation more difficult? A. Retail global expansion B. Value-seeking consumers C. Omni-channel retailing D. The demise of brick-and-mortar retail E. Retail convergence
Retail convergence
Which of the following is TRUE regarding omni-channel buyers? A. They purchase online but tend to purchase more in-store. B. They prefer the online environment. C. They always shop in-store channels, then order online. D. They do not shift easily across online and in-store channels. E. They shift easily across online and in-store channels.
They shift easily across online and in-store channels.
After the presentation and demonstration step in the sales process, a salesperson should next be prepared to _______. A. approach qualified customers B. handle objections C. prospect the customer D. follow up with the customer E. immediately close the sale
handle objections
The goal of a push strategy is to _____________________________. A. give channel members additional media incentives to carry the product B. save money by only focusing on consumers C. build trade demand D. increase sales calls to distributors E. induce channel members to carry and promote the product
induce channel members to carry and promote the product
Personal selling can be more effective than advertising in complex selling situations because it is ______________________________. A. nonpersonal B. less engaging than advertising C. designed to reach large groups of consumers D. only used for face-to-face customer interactions E. interpersonal
interpersonal
Marketing logistics addresses not only outbound logistics but also inbound logistics and reverse logistics, which means it ____________________________. A. involves the entire supply chain management B. enables producers, manufacturers, and distribution to maximize cost savings C. it is the centerpiece for quicker times to market and enhanced cost reductions D. is the solution for managing costs and customer satisfaction E. focuses on just-in-time inventory management
involves the entire supply chain management
Which of the following accurately describes a company's efforts to engage customers, persuasively communicate customer value, and build customer relationships? A. Advertising and public relations mix B. Direct and digital marketing mix C. Personal and direct selling mix D. Promotion mix E. Marketing mix
marketing mix
The massive shift in how and where people buy calls for __________________________. A. massive spending increases in advertising and sales promotion B. massive spending in social media for brick-and-mortar retailers C. massive shifts to online-only environments for brick-and-mortar retailers D. massive shifts in how store retailers operate E. massive shifts in pricing strategies
massive shifts in how store retailers operate
One of the primary advantages of marketing logistics is __________________. A. cost savings in inventory management B. being the solution for maximizing costs and customer satisfaction C. improved customer satisfaction and faster time to market D. maximizing inbound, outbound, and reverse logistics E. potentially high cost savings and improved customer satisfaction
potentially high cost savings and improved customer satisfaction
Most companies today want their salespeople to _______, which means demonstrating and delivering superior customer value and capturing a return on that value that is fair for both the customer and the company. A. practice value selling B. capture short-term business C. use a transaction-oriented sales approach D. close sales E. cut prices to make the sale
practice value selling
One consumer promotion tool is _______, which are goods offered either free or at low cost as an incentive to buy a product. A. advertising specialties B. premiums C. coupons D. point-of-purchase promotions E. rebates
premiums
GE Healthcare employs different sales forces for diagnostic imaging, life sciences, and integrated IT products and services. GE Healthcare has adopted a ______ sales force structure. A. territorial B. complex C. customer D. market E. product
product
Press releases, sponsorships, events, and web pages are promotional tools used in _____________. A. direct and digital marketing B. advertising C. sales promotion D. public relations E. personal selling
public relations
By performing the channel function of ________, wholesalers' sales forces help manufacturers reach many small customers at a low cost. A. buying and assortment building B. selling and promoting C. bulk-breaking D. risk bearing E. financing
selling and promoting
Hotels and motels, banks, airlines, restaurants, colleges, hospitals, movie theaters, tennis clubs, bowling alleys, repair services, hair salons, and dry cleaners are all examples of ________. A. franchises B. non-retailers C. specialty stores D. wholesalers E. service retailers
service retailers
Focusing the entire marketing process toward turning shoppers into buyers as they approach the point of sale is known as ______________________. A. showrooming B. internal marketing C. warehousing D. shopper marketing E. retailing
shopper marketing
The fastest-growing sales trend today is ______________. A. product selling B. outside sales C. inside sales D. social selling E. team selling
social selling
More than a territory, compensation, and training, new salespeople need ________________. A. reasonable sales goals B. product knowledge C. customer relationship management skills D. supervision and motivation E. ongoing customer sales support
supervision and motivation
When setting marketing channel objectives, companies should state the objective in terms of ______. A. the length of the channel B. exclusive distribution arrangements C. expected profitability D. competitors' objectives E. targeted levels of customer service
targeted levels of customer service
During the presentation step in the personal selling process, the salesperson ______________. A. handles objections B. closes the deal C. meets the buyer for the first time D. tells the buyer a "value story" E. attempts to "razzle-dazzle" the buyer
tells the buyer a "value story"
Justin, Inc., a U.S.-based watch manufacturer, sells its products in China, Russia, France, and India. To manage sales, Justin appoints a number of sales representatives to each location. Justin has adopted a ________ sales force structure. A. complex B. customer C. territorial D. product E. market
territorial
Best Buy, Home Depot, Petco, and Bed Bath & Beyond, which are actually giant specialty stores characterized by immense size and deep assortments of merchandise, are sometimes called _______________. A. supermarkets B. service retailers C. category killers D. discount stores E. off-price retailers
category killers
Which of the following describes layers of intermediaries performing some of the work to bring the product and its ownership closer to the final buyer? A. Channel levels B. Marketing channels C. Supply chains D. Value delivery networks E. Networking contacts
channel levels
Marketers now have a richer mix of media and content approaches with consumers being bombarded by many brand messages. The result is that _________________________. A. companies do not target successfully or efficiently. B. companies fail to integrate their various communication channels. C. consumers may believe similar brands are all the same. D. companies fail to integrate brand messages and positioning. E. consumers don't distinguish between content sources the way marketers do.
consumers don't distinguish between content sources the way marketers do.
Which of the following statements is TRUE about public relations and a company's overall integrated marketing communications efforts? A. PR should be planned first, then advertising second. B. PR should have a separate budget from marketing communications. C. PR is now the more dominant media than other forms. D. PR has no value within a social media context. E. PR should be blended smoothly with promotion activities.
PR should be blended smoothly with promotion activities.
_______________ software systems enable companies to coordinate their whole-channel marketing efforts. A. Partner relationship management B. Distribution C. Customer relationship management D. Logistics E. Channel management
Partner relationship management
Which of the following uses promotional tools such as presentations, trade shows, and incentive programs to engage customers, make sales, and build customer relationships? A. Advertising B. Personal selling C. Sales promotion D. Direct and digital marketing E. Public relations
Personal selling
__________________ advertising is the type of advertising objective used when attempting to build brand preference and prompting customers to purchase now. A. Reminder B. Informative C. Comparative D. Persuasive E. Attack
Persuasive
It's time for the Super Bowl, and the end-of-the-aisle displays at the supermarket feature chips, dips, and soft drinks. What type of sales promotion tool is this? A. Sample B. Point-of-purchase C. Premium D. Allowance E. Sponsorship
Point-of-purchase
Which of the following makes up the retail marketing mix? A. Product and services assortment, price, promotion and store differentiation B. Product and services assortment, price, promotion, and retail segmentation C. Product and services assortment, prices, promotion, and store positioning D. Product and services assortment, price, promotion, and location E. Product and services assortment, price, promotion, and retail targeting
Product and services assortment, price, promotion, and location
Sherwin-Williams sells its paint and other branded products exclusively through company-owned retail stores. Sherwin-Williams has established a(n) _________. A. conventional distribution channel B. vertical marketing system C. administered VMS D. corporate VMS E. contractual VMS
corporate VMS
When the company has defined its channel objectives, it should next identify its major channel alternatives in terms of the types of intermediaries, the number of intermediaries, and __________________. A. economic criteria B. the responsibilities of channel members C. the profitability of the channel D. consumer needs E. whether to use intensive or exclusive distribution
the responsibilities of channel members
A(n) _____ consists of producers, wholesalers, and retailers acting as a unified system. A. vertical marketing system B. distribution center C. channel level D. administered vertical marketing system E. conventional distribution channel
vertical marketing system
To set its sales force size, a company can first group accounts into different classes according to size, account status, or other factors related to the amount of effort required to maintain the account. It then determines the number of salespeople needed to call on each class of accounts the desired number of times. This is called the ______ approach. A. workforce B. field C. inside D. complex E. workload
workload
As companies become more market-centered, a customer-focused sales force __________________. A. only needs to coordinate its efforts with marketing planners B. is less important than the results advertising and sales promotion can reap C. has greater incentives to produce revenue D. becomes more focused on profit and less on the customer E. works to produce both customer satisfaction and company profit
works to produce both customer satisfaction and company profit
Which of the following are common trade promotion tools? A. Discounts, free goods, allowances, and price packs B. Discounts, free goods, allowances, and free advertising specialty items C. Discounts, free goods, coupons, and rebates D. Rebates, samples, coupons, and price packs E. Rebates, discounts, free goods, and allowances
Discounts, free goods, allowances, and free advertising specialty items
________________ is an example of horizontal channel conflict. A. A retailer complaining about receiving damaged goods from a wholesaler B. A consumer complaining to a retailer about the service he received C. A retailer complaining about a producer's pricing D. A consumer complaining to a producer about the quality of a product E. A Subaru dealer complaining that another Subaru dealer is advertising in its territory
A Subaru dealer complaining that another Subaru dealer is advertising in its territory
What potential risk do marketers incur by using richer but more fragmented media and promotional mixes? A. The inability to use mass and traditional media B. Greater efficiency but less control over marketing messaging C. Mixed communications messaging and higher costs D. Better targeting but at a higher cost per consumer E. A communications hodgepodge for consumers
A communications hodgepodge for consumers
The four elements of a compensation plan for salespeople are __________. A. A fixed amount, a variable amount, stock ownership, and fringe benefits B. A fixed amount, a variable amount, expenses, and commission C. A fixed amount, a variable amount, expenses, and salary D. A fixed amount, a variable amount, expenses, and fringe benefits E. A fixed amount, a variable amount, salary, and commission
A fixed amount, a variable amount, expenses, and fringe benefits
___________________ direct(s) its marketing activities (primarily advertising, consumer promotion, and direct and digital media) toward final consumers to induce them to buy the product. A. Personal selling B. A push strategy C. A pull strategy D. Product communications E. Integrated communications
A pull strategy
A. A pull strategy B. A push strategy C. A personal selling strategy D. Integrated communications E. Product communications
A push strategy
Channels often involve long-term commitments, and companies have many alternatives. What type of criteria should be used if the company wants to keep the channel flexible so that it can respond to environmental changes? A. Control criteria B. Profitability criteria C. Sales criteria D. Adaptability criteria E. Investment criteria
Adaptability criteria
Large retailers like Walmart have enormous channel control due to their size and power. Which type of channel arrangement does this represent? A. Administered VMS B. Corporate VMS C. Contractual VMS D. Manufacturer-sponsored retailer franchise system E. Conventional distribution channel
Administered VMS
_______________________ is the first step in marketing channel design. A. Setting channel objectives B. Identifying the types of intermediaries to use C. Analyzing consumer needs D. Identifying the number of intermediaries to use E. Evaluating major channel alternatives
Analyzing consumer needs
At which step in the personal selling process does a salesperson meet the customer for the first time? A. Prospecting B. Presentation C. Approach D. Qualifying E. Preapproach
Approach
Which of the following are used to generate business leads, stimulate purchases, reward customers, and motivate salespeople? A. Trade promotions B. Sales force promotions C. Consumer promotions D. Clutter promotions E. Business promotions
Business promotions
What are the two major elements in developing advertising strategy? A. Determining the target audience and selecting advertising media B. Creating advertising messages and setting the advertising budget C. Creating advertising messages and selecting advertising media D. Determining the advertising budget and determining ROI E. Creating advertising messages and selecting advertising agencies
Creating advertising messages and selecting advertising media
What is the overall goal when retailers choose their product assortment? A. Differentiate the retailer while matching target shoppers' expectations B. Offer the same products as their competitors C. Only choose products that will maximize profits D. Offer products that will appeal to as many segments as possible E. Offer as many products as they can fit on the shelves
Differentiate the retailer while matching target shoppers' expectations
_______________________ uses tools that engage directly with carefully targeted individual consumers and customer communities to both obtain an immediate response and build lasting customer relationships. A. Public relations B. Personal selling C. Direct and digital marketing D. Sales promotion E. Advertising
Direct and digital marketing
Advertising decisions involve multiple steps culminating in the measurement of the sales effects of advertising or brand content. Which of the following considers return on investment? A. Defining reach B. Evaluation C. Impact D. Engagement goals E. Frequency
Evaluation
Companies such as Breitling watches and Pandora charm bracelets use which of the following types of distribution strategy? A. Intensive B. Direct C. Exclusive D. Franchise E. Selective
Exclusive
________________ is a retailing technique of carefully orchestrating the store's layout and displays, background music, colors, and smells. A. Interior design B. Environmental retailing C. Experiential retailing D. Omni-channel retailing E. Wholesaling
Experiential retailing
What is the final step in the seven-step personal selling process? A. Closing B. Qualifying C. Prospecting D. Follow-up E. Presentation
Follow up
In which of the following is vertical conflict, conflict between different levels of the same channel, common? A. Supplier channels B. Wholesalers C. Channel intermediaries D. Franchise organizations E. Independent retailers
Franchise organizations
_________________________ are the objectives of trade promotions. A. Urging short-term customer buying and gaining customer loyalty B. Getting more sales force support for current or new products and getting salespeople to sign up new accounts C. Getting retailers to carry new items and more inventory, buy ahead, or promote the company's products and give them more shelf space D. Generating business leads, stimulating purchases, rewarding customers, and motivating salespeople E. Boosting consumer brand involvement and short-term buying
Getting retailers to carry new items and more inventory, buy ahead, or promote the company's products and give them more shelf space
Which of the following recognizes that improved logistics mandates teamwork across the company and the entire supply chain? A. Just-in-time logistics management B. Reverse logistics management C. Integrated supply chain management D. Logistics information management E. Electronic data exchange
Integrated supply chain management
Producers of a strong brand sometimes sell it to dealers only if the dealers will take some or all of the rest of its line. This is known as full-line forcing. Which of the following statements is true regarding full-line forcing? A. It is only illegal in Europe. B. It is always illegal. C. It may or may not be legal. D. It is always legal. E. It is only legal in New York, California, and Texas.
It may or may not be legal.
The Great Recession of 2008-2009 had a profound effect on the economy and consumers. Of the following, which represents one of the major consumer trends resulting from the Great Recession? A. It forced consumers to become omni-channel shoppers. B. It created a trend away from consumer spending on well-known brands. C. It turned brick-and-mortar retailers into Internet-only retailers. D. It turned free-spending consumers into value-seeking ones. E. It restricted retail expansion domestically and internationally.
It turned free-spending consumers into value-seeking ones.
A discount store (for example, Target, Kohl's, or Walmart) sells standard merchandise at lower prices. To do this, discount stores accept which of the following two conditions? A. Lower margins and lower sales volume B. Lower margins and higher sales volume C. Higher sales volume and inefficient operations D. Operating at a loss and higher sales volume E. Higher margins and lower sales volume
Lower margins and higher sales volume
Many vital and key functions are performed by marketing channels. Of the following, which is NOT one of those key functions? A. Completion of transactions B. Physical distribution C. Distribution of persuasive communications D. Manufacturing and assembly E. Fulfillment of completed transactions
Manufacturing and assembly
Which of the following is a reason that producers use marketing channels and channel intermediaries? A. Marketing channel decisions only require a short-term commitment. B. Using channel intermediaries increases the number of contacts with customers. C. Marketing channel members are able to transform the assortments of products made by producers into the assortments wanted by consumers. D. Using marketing channels allows producers to retain control over how and to whom they sell their products. E. The reduced costs of using channel intermediaries offsets the inefficiencies of marketing channels.
Marketing channel members are able to transform the assortments of products made by producers into the assortments wanted by consumers.
Which of the following statements about retailer marketing decisions is correct? A. Stores do not need to differentiate and position themselves. B. Retailers do not have to segment and target their markets. C. Retailers do not differentiate themselves on their service mix. D. Most retailers seek either high markups on higher volume or low markups on lower volume. E. Retailers identify three critical factors for retail success: location, location, and location.
Retailers identify three critical factors for retail success: location, location, and location.
What does the phrase "omni-channel buying calls for omni-channel retailing" imply for retailers? A. Retailers should plan and budget for expansion of brick-and-mortar shopping experiences. B. Retailers should integrate all available supply-chain channels into their distribution systems. C. Retailers should make certain they focus on social and digital media as their main advertising vehicles. D. Retailers should attempt to attract omni-channel buyers to brick-and-mortar settings through experiential retailing. E. Retailers should integrate all available shopping channels and devices into a seamless customer shopping experience
Retailers should integrate all available shopping channels and devices into a seamless customer shopping experience
Which of the following describes the activities that play an important role in connecting brands to consumers in the final phases of the buying process? A. Retailing B. Warehousing C. Wholesaling D. Manufacturing E. Shopper marketing
Retailing
Which of the following statements about personal selling is correct? A. Salespeople represent the company to customers, but they do not represent customers to the company. B. The role of personal selling is very consistent from company to company. C. Salespeople are often the only direct contact with a customer. D. Personal selling is a fairly new profession. E. Personal selling is the nonpersonal arm of the promotional mix.
Salespeople are often the only direct contact with a customer.
Successful retailers of the future must adopt which type of buying experience that is both seamless and integrates multiple types of media? A. Off-price retailing B. Social shopping retailing C. Direct-to-consumer retailing D. Discount retailing E. Omni-channel retailing
Social shopping retailing
Which of the following does NOT represent one of the major trends and developments in retailing? A. A surge in green retailing B. Growing importance of retail technology C. Social e-tailing D. Retail convergence E. The rise of megaretailers
Social e-tailing
______________ entails managing upstream and downstream value-added flows of materials, final goods, and related information among suppliers, the company, resellers, and final consumers. A. Supply chain management B. Distribution networks management C. Reseller networks D. Business distribution management E. Wholesaling
Supply chain management
What characteristics are possessed by the best salespeople? A. The best salespeople are highly educated. B. The best salespeople make a sale and then move on. C. The best salespeople are excellent at proposals and quotes. D. The best salespeople consistently exceed their sales goals. E. The best salespeople are the ones who work closely with customers for mutual gain.
The best salespeople are the ones who work closely with customers for mutual gain.
Which of the following statements about sales promotions is correct? A. Companies that use sales promotions usually do not use any other promotional mix tools. B. Sales promotions offer long-term incentives to buy a product. C. The heavy use of sales promotions has resulted in promotion clutter. D. Sales promotions are only offered to consumers. E. The use of sales promotions has declined in recent years.
The heavy use of sales promotions has resulted in promotion clutter.
Which of the following statements about public relations is correct? A. The lines between advertising and public relations are becoming more blurred. B. Public relations cannot be used to engage consumers. C. Trade associations do not use public relations. D. Public relations is only used to promote products. E. The impact of public relations on public awareness comes at a much higher cost than advertising.
The lines between advertising and public relations are becoming more blurred.
Which of the following indicates the length of a channel? A. The number of producers in the channel B. The number of retailers in the channel C. The number of intermediary levels in the channel D. The number of final consumers in the channel E. The number of wholesalers in the channel
The number of intermediary levels in the channel
Macy's, Kohl's, and JCPenney practice a retailing pricing strategy called "high-low pricing." Which of the following correctly describes high-low pricing? A. Some products are priced high, others are priced low, and still others are priced at bargain-basement levels. B. Retailers charge an everyday low price with no special promotions. C. The retailer charges higher prices on an everyday basis, coupled with frequent sales and other price promotions. D. The retailer does not have to run sales on selected items. E. Retailers do not have to use promotions.
The retailer charges higher prices on an everyday basis, coupled with frequent sales and other price promotions.
Which of the following accurately represents the three characteristics of advertising appeals? A. To be meaningful, to be distinctive, and to use persuasive claims B. To be meaningful, to be believable, and to be memorable C. To be believable, to be distinctive, and to be ethical D. To be meaningful, to be believable, and to generate revenue E. To be meaningful, to be believable, and to be distinctive
To be meaningful, to be believable, and to be distinctive
What is the goal of advertising? A. To define a product's value B. To create interest and consumer hype C. To provide feedback on products and services D. To help move consumers through the buying process E. To create consumer communities
To help move consumers through the buying process
After recruiting and selecting salespeople, what is the next major step in sales force management? A. Compensating salespeople B. Evaluating salespeople C. Supervising salespeople D. Designing sales force strategy and structure E. Training salespeople
Training salespeople
Of the following, which most closely describes the method by which companies engage and create benefits for their customers? A. Supply chain B. Customer relationship management C. Marketing channel D. Value delivery network E. Channel level
Value delivery network
Which of the following statements about wholesaling is true? A. Wholesalers must make decisions regarding their marketing mix. B. Wholesalers do not need to segment their markets. C. Wholesalers do not need to differentiate themselves. D. Wholesalers do not need to define a target market. E. Wholesalers do not make positioning decisions.
Wholesalers must make decisions regarding their marketing mix.
In place of traditional media, marketers are using __________________________ to engage smaller customer segments with more personalized, interactive content. A. increased amounts of public relations, trade shows, special events, and social media B. narrow but highly targeted media C. a broad selection of more specialized and highly targeted media D. less social media and more traditional but targeted media E. more integrated social media
a broad selection of more specialized and highly targeted media
Progressive wholesalers recognize that their only reason for existing is to ____________________. A. bear the risk of sales and distribution B. add value C. provide selling support D. automate distribution E. finance retailing transactions
add value
After segmenting and defining their target markets, retailers must then ____________________. A. decide how they will differentiate and position themselves B. decide on the store atmosphere and shopping experience C. decide on the level of service they will provide D. decide on the product assortment and volume they will stock E. decide on pricing by product line and assortment
decide how they will differentiate and position themselves
The goal of integrated marketing communications is to __________________________________. A. have different media carry different messages about a brand in an integrated way B. lower overall marketing expenditures while delivering increased results C. integrate communications via online and mobile technologies at a lower cost per impression D. maximize return on investment with increased revenue across all brands E. deliver clear, consistent, and compelling messages about the organization and its brands
deliver clear, consistent, and compelling messages about the organization and its brands
The first decision a manager must make in sales force management is _______________. A. evaluation of salespeople B. recruitment and selection processes for salespeople C. designing sales force strategy and structure D. sales force compensation E. sales training
designing sales force strategy and structure
Working with donors or members of nonprofit organizations to gain financial or volunteer support represents which public relations function? A. Investor relations B. Press relations C. Lobbying D. Public affairs E. Development
development
Catalogs, online and social media, and mobile marketing are some of the specific promotional tools used in _________________________. A. personal selling B. sales promotion C. direct and digital marketing D. sales presentations E. public relations
direct and digital marketing
The goal of logistics is to provide a targeted level of service at the least or lowest possible cost. To achieve this goal, which of the following are logistical functional areas? A. Inventory management, transportation, shipping, and warehousing B. Warehousing, inventory management, retailing, and logistics information management C. Warehousing, inventory management, transportation, and retailing D. Retailing, inventory management, transportation, and logistics information management E. Warehousing, inventory management, transportation, and logistics information management
Warehousing, inventory management, transportation, and logistics information management
Companies today see channel members as ______________ and practice strong partner relationship management. A. trade promotions B. first-line partners C. discount pricing D. consumer advertising E. B2B selling
first-line partners
The seven-step selling process takes a __________ approach to selling. In other words, its aim is to help salespeople close a specific sale with a customer. A. value-oriented B. profit-oriented C. customer-oriented D. transaction-oriented E. relationship-oriented
transaction-oriented