A advantage of the cost method of inventory valuation is that it is difficult to cost out each sale.
Indicate whether the statement is true or false
Question 2Dorothy Lane Market offers weekly cooking classes. These demonstrations are an example of the retailer providing its customers with:
a. transaction service.
b. convenient hours.
c. informational aids.
d. personal selling.
e. pretransaction service.
Question 3Retailers need only to pay close attention to the behavior of consumers and not worry about other environmental factors.
Indicate whether the statement is true or false
Question 4There are three types of primary marketing institutions: manufacturers, retailers and:
a. transporters.
b. agents/brokers.
c. wholesalers.
d. advertisers.
e. warehouses.
Question 5Companies that are slow to bring products to markets risk a drop in what?
a. standards
b. profits
c. employees
d. research
Question 6A retailer can grow quickly and be profitable on its income statement but still face financial problems due to an inadequate cash flow.
Indicate whether the statement is true or false
Question 7_____ are services provided to the customer prior to entering the store.
a. Promotional management
b. Pretransaction services
c. Advertising expenditures
d. Posttransaction services
e. Promotional services
Question 8Retail managers must be skillful at managing changes that occur in their markets.
Indicate whether the statement is true or false
Question 9The major difference between primary marketing institutions and facilitating marketing institutions is that facilitating members:
a. do not take title to the goods.
b. are paid only a percentage of profits made.
c. take title to the goods.
d. perform all eight functions in all channels situations.
e. are always paid by the manufacturer.
Question 10Effective loyalty programs can include both short-term and long-term rewards.
Indicate whether the statement is true or false
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