Principles of Marketing: Quiz Unit 4 Review

Which of the following is an example of a wholesaler? a) Walmart b) Etsy.com c) Costco

Costco

What is a supply chain? a) It is a marketing channel where different channel partners are evaluated in regards to the value offered to the customer. b) It is a system of activities, people, organizations, and resources which provide feedback to companies for product enhancements and new product ideas. c) It is a system of activities, people, information, organizations, and resources participating in moving a service or product from supplier to customer.

It is a system of activities, people, information, organizations, and resources participating in moving a service or product from supplier to customer.

The Michael's Craft Store begins to offer classes in crafting, cake decoration, and scrapbook design. Which of the following best explains Michael's current approach? a) It is confusing customers because the classes are incongruent with the Michael's brand. b) It is overreaching its place as a retailer in customers' minds. c) It is expanding its offering to create greater contact efficiency for its customers.

It is expanding its offering to create greater contact efficiency for its customers.

Why is it important in supply chain management for suppliers to have visibility into a company's forecast and sales data? a) Suppliers can maintain their supply of products based on the original demand forecast numbers. b) Suppliers can build or deplete their inventory. c) Suppliers can adjust their supply of products depending on the market demand.

Suppliers can adjust their supply of products depending on the market demand.

If a channel manager is talking about the knowledge, instructions, messages, and communication that is happening with people up and down a distribution channel, she is speaking about which area of flow? a) promotion flow b) negotiation flow c) information flow

information flow

Which two additional marketing Ps help retailers deliver the best retail experience? a) production and proposals b) pacing and poise c) presentation and personnel

presentation and personnel

There is a need for a more sophisticated means of managing and tracking the complex movement of goods from place to place throughout a supply chain. Which of the following is one example of a mechanism used to manage and track inventory? a) inventory labels b) solar identification technology c) radio-frequency identification (RFID) technology

radio-frequency identification (RFID) technology

When considering the presentation of a retail store, which elements largely contribute to the visual experience for a consumer? a) store products and temperature b) store name and size c) store layout and atmosphere

store layout and atmosphere

Which three functions are necessary between channel partners for an efficient flow of title and product to a customer and for payment back to the product producer? a) facilitating, commercial, and institutional functions b) logistical, commercial, and transactional functions c) transactional, logistical, and facilitating functions

transactional, logistical, and facilitating functions

Which type of retail approach brings national chains to local ownership? a) malls and shopping centers b) online retailing c) franchises

franchises

Which of the following statements best describes how a supply chain differs from a marketing channel? a) Supply chains and marketing channels both deal mostly with the delivery of goods. b) Marketing channels and supply chains deal with customers and internally focused objectives equally. c) A supply chain is broader than marketing channels.

A supply chain is broader than marketing channels.

If a wine company decides to focus its specialty of creating its products to rely on other business partners to fill in the supply chain gaps, which strategy is this wine company creating? a) a marketing strategy b) a pricing strategy c) a channel strategy

a channel strategy

Which of the following is an example of a department store? a) Barnes & Noble b) Victoria's Secret c) Sears

Sears

What are service outputs in a marketing channel? a) They are the inputs in a marketing channel that consumers desire. b) They are the interplay in a marketing channel of additional areas of the marketing mix. c) They are the productive outputs in a marketing channel that consumers value and desire.

They are the productive outputs in a marketing channel that consumers value and desire.

There are four considerations for channel alternatives that need to be determined: number of levels, intensity at each level, specific types of intermediaries, and the application of selection criteria to channel alternatives. Which other questions about channel alternatives should be answered? a) When will will the channel implementation will take place? b) What intermediary will offer discounts? c) Who will be in charge of the selected channels?

Who will be in charge of the selected channels?

Sets of interdependent organizations participating in the process providing a payment mechanism for a provider while making a service or product accessible and available for use or consumption is the definition of ________. a) positioning and differentiation b) product marketing c) a channel of distribution

a channel of distribution

If a retail store focuses on price as its main sales appeal and has a broad selection of merchandise, which type of retail store is it? a) a supermarket retailer b) chain store retailer c) a discount retailer

a discount retailer

Which dimensions should a marketer consider when dealing with the human aspect of distribution channels? a) culture, content, education, and location b) demographics, orientation, objectives, and strategy c) communication, conflict, roles, and power

communication, conflict, roles, and power

Third-party sales are ________. a) straightforward because the product sells directly to the consumer b) generated by direct sales online c) conducted by anyone other than the producer of a product or service

conducted by anyone other than the producer of a product or service

The retail industry is designed to create ________. a) a master retail plan b) multiple market forces c) contact efficiency for consumers

contact efficiency for consumers