Which of the following statements regarding social class is true?
A) A social class is a closed aggregate of people with similar social ranking.
B) The criteria used to group people into social classes do not vary from one culture to another.
C) A social class is an open aggregate of people with similar social ranking.
D) A social class is a ranking of people by other members of society into positions of social respect.
E) A social class is an open aggregate of people with different social rankings.
Question 2Shampoo manufacturers sometimes run a promotion in which they shrink-wrap two plastic bottles of shampoo for the price of one. They most often use this buy-one-get-one-free tactic when they want to
a. stimulate repeat purchases and add to their loyal customer base.
b. build a better brand image and create emotional bonds with consumers.
c. introduce a new brand and gain new buyers.
d. stimulate larger purchases of a product and reduce inventory.
Question 3Martin owns and operates a wholesale hardware business that supplies small hardware parts to various manufacturers in the area. He takes title to the hardware and assumes all risks associated with ownership. Martin is a
A) rack jobber.
B) merchant wholesaler.
C) wholesaler agent.
D) drop shipper.
E) sales branch.
Question 4An opinion leader is likely to be most effective under all of the following conditions except when the
A) follower has high product involvement.
B) follower has low product knowledge.
C) follower has values and attitudes similar to the opinion leader.
D) product details are numerous and complicated.
E) follower has attitudes and values that are different from those of the opinion leader.
Question 5Sales promotion tools can accomplish several objectives. For example, when a firm wants to make a push to ____, these tools can reduce the consumer's risk of trying something new.
a. change the IBP
b. stimulate repeat purchases
c. combat competitors' strategies
d. stimulate trial purchases
Question 6Sherri McRae wants to establish a fashion wholesaling firm. Because of the risks involved in the rapid obsolescence of high-fashion items, Sherri does not want to establish an organization in which she has title to the garments. Which of the following types of wholesale establishments has she ruled out?
A) Merchant wholesaler
B) Agent
C) Broker
D) Functional middleman
E) Commission merchant
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