Marketing Final Exam

Fasteners zippers are made in macon georgia yet

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Unformatted text preview: ucer and the location of widely scattered markets represents a(n) _____ discrepancy. a. spatial b. temporal c. assortment d. quantity e. ownership ANS: A This is the definition of a spatial discrepancy. PTS: 1 REF: 203 Thinking KEY: CB&E Model Distribution OBJ: 13-1 TOP: AACSB Reflective MSC: BLOOMS Knowledge 15. YKK slide fasteners (zippers) are made in Macon, Georgia, yet manufactures all over the world use zippers to manufacture, clothes, luggage, shoes, and other items. Wholesalers around the world primarily help to overcome a(n) _____ discrepancy. a. creation b. temporal c. assortment d. spatial e. ownership ANS: D Markets are often scattered over large geographic regions, yet a manufacturer may only have one location in the country. This creates a spatial discrepancy. PTS: 1 REF: 203 Thinking KEY: CB&E Model Distribution OBJ: 13-1 TOP: AACSB Reflective MSC: BLOOMS Application 16. Marketing channels make distribution simpler by reducing the number of transactions required to get products from manufacturers to consumers. This is called: a. forward integration b. contact efficiency c. elimination of temporal discrepancies d. sorting e. reciprocity ANS: B Marketing channels provide contact efficiencies by reducing the number of stores customers must shop in to complete their purchases. PTS: 1 REF: 203 Thinking KEY: CB&E Model Distribution OBJ: 13-1 TOP: AACSB Reflective MSC: BLOOMS Knowledge 17. When an intermediary in the channel of distribution owns the merchandise and controls the terms of the sale, this is referred to as: a. complete control b. exclusive distribution c. taking title d. contact efficiency e. economies of scale ANS: C This is the definition of taking title. PTS: 1 REF: 204 Thinking KEY: CB&E Model Distribution OBJ: 13-2 TOP: AACSB Reflective MSC: BLOOMS Knowledge 18. The major characteristic that is used to differentiate among types of intermediaries is whether they: a. install exchange barriers such as location, time, and quantity b. create specialization of labor c. create economies of scale d. take title to the products they sell e. raise profit margins for independent middlemen ANS: D Taking title means they own the merchandise and control the terms of the sale. PTS: 1 REF: 204 Thinking KEY: CB&E Model Distribution OBJ: 13-2 TOP: AACSB Reflective MSC: BLOOMS Comprehension 19. Retailers and merchant wholesalers are examples of intermediaries that: a. take title to a product b. create temporal and spatial discrepancies c. use consumer promotions d. do not benefit from any economies of scale e. are accurately described by all of these statements ANS: A Retailers and merchant wholesalers own the merchandise and control the terms of its ultimate sale. PTS: 1 REF: 204 Thinking KEY: CB&E Model Distribution OBJ: 13-2 TOP: AACSB Reflective MSC: BLOOMS Comprehension 20. Which of the following intermediaries sell mainly to consumers? a. Retailers b. Merchant wholesalers c. Agents d. Brokers e. Spets ANS: A R...
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