If Italy limits the number of coach bags that can be imported during a period of
one-year, since coach bags are made in New York, USA. This would be an example of
a(n)____ .
a. exchange control limit
b. embargo
c. quota
d. import tariff
e. supply limit
Which of the following best describes wholesalers?
a. Organizations that buy products from producers and sell them to retailers
b. Individuals or organizations that purchase products and then resell them to other
businesses and consumers
c. Organizations or individuals who buy products for resale to government, reseller,
producer, and institutional users
d. Organizations or entities that buy products from government, reseller, and producers
and sell them to customers in bulk
e. Companies that make products that have a general appeal and are resold to retailers
for a profit
Walmart has its own fleet of trucks and works directly with producers to take care of the
ordering, delivery, and handling of goods. In addition, Walmart works directly with
suppliers through its advanced system of inventory control and data processing.
Walmart is:
a. able to eliminate many of the functions typically performed by wholesalers.
b. performing many of the critical functions of wholesalers through its own system.
c. successfully using wholesalers to run its venerable chain of discount stores.
d. using information technology to eliminate the need to perform typical wholesale
functions.
e. vertically integrated in order to produce and distribute all products itself.
The objective of maintaining or increasing market share depends on growth in industry
sales.
a. True
b. False
Monique reads through her emails containing advertisements for sweaters from H&M,
purses from JC Penney, and tennis shoes from Foot Locker. Later while at the mall, she
remembers only the shoe ad, thanks to the recent tear
in her own Reeboks. Monique has engaged in selective:
a. distortion.
b. exposure.
c. analysis.
d. retention.
e. organization.
Mike Stevens wonders whether the creative idea of using the character “Tom T. Turtle”
as an image for marketing a new line of running shoes will be successful. He should
suggest to his account representative that a(n)______ be used to pretest the campaign.
a. storyboard
b. survey
c. experiment
d. GSR test
e. consumer jury
Retailing is best characterized as:
a. large organizations that carry wide and deep product mixes.
b. transactions in which a buyer intends to consume a product through personal, family,
or household use.
c. arrangements whereby a supplier grants a dealer the right to sell its products.
d. the use of telephone, Internet, and nonpersonal media to communicate product and
organizational information to customers.
e. exchanges that take place only in a store or service establishment.
The assessment of an organization’s strengths, weaknesses, opportunities, and threats is
called .
a. a SWOT analysis
b. benchmarking
c. total quality management
d. a PEST analysis
e. a portfolio analysis
Use of the product is the most important means of distinguishing consumer products
from business products.
a. True
b. False
Reba Vincent is employed as a consultant for Mary Kay Cosmetics. This illustrates:
a. personal selling.
b. retailing.
c. public relations.
d. advertising.
e. sales promotion.
Chandra has extensive contacts in the real estate business and brings together buyers
and sellers. Although she assumes no risks, she can offer specialized knowledge about
real estate. Chandra is a______.
a. commission merchant
b. selling agent
c. broker
d. specialty salesperson
e. sales branch agent
A missionary salesperson is most likely employed by:
a. a retailer.
b. a wholesaler.
c. an order getter.
d. a manufacturer.
e. an independent intermediary.