For consumers unfamiliar with a product, price can act as a cue to what?
a. quality
b. value
c. desirability
d. availability
Question 2A 1,000 increase in planned reductions for the month would:
a. raise EOM inventory by 2,000.
b. lower this month's OTB by 1,000.
c. increase BOM inventory by 1,000.
d. increase this month's OTB by 1,000.
e. lower planned purchases by 1,000 for this month.
Question 3_____ is the process of locating or identifying potential customers that have the ability and willingness to purchase your product.
a. Prospecting
b. Suggestion selling
c. Sales presentation
d. Closing the sale
e. Approach
Question 4Strategic planning:
a. requires a short-term commitment of resources by the retailer.
b. is concerned with maximizing the efficiency of the retailer's use of resources and with how the retailer converts these resources into sales and profits.
c. involves managing the buying and handling of merchandise, pricing, advertising and promotion, customer services and selling, and facilities.
d. is concerned with how the retailer responds to the environment in an effort to establish a short-term course of action.
e. involves adapting the resources of the firm to the opportunities and threats of an ever-changing retail environment.
Question 5An example of coercive power is a manufacturer's:
a. refusal to sell merchandise to any retailer who sells to diverters.
b. offer to increase the cash discounts if the retailer meets a sales quota.
c. offer a co-op promotional plan to all retailers in a key city.
d. payment for a prominent display area in a retailer's store.
e. act of sending the retailer a Christmas card without a year-end bonus.
Question 6Switching costs that penalize consumers can lead to greater customer _________.
a. loyalty
b. sensitivity
c. inaction
d. resentment
Question 7If a buyer lowers planned reductions by 7,000 for the month, this will:
a. reduce planned reductions for the following month by one half that amount; 3,500.
b. reduce BOM inventory by 7,000.
c. lower this month's OTB by 7,000.
d. raise planned purchases by 7,000 for this month.
e. raise this month's OTB by 7,000.
Question 8A local stockbroker spent two hours explaining the benefits of owning IBM stock to a middle-aged couple. After listening to stockbroker, the couple decided not to buy IBM stock. The two hours the stockbroker spent with the couple would be considered:.
a. wasted time.
b. idle time.
c. nonselling time.
d. unproductive time.
e. selling time.
Quick Reply
