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Question;321.;A national grocery;store chain has decided to sell an assortment of hobby, gardening, and cook;books. Buyers in the chain's main office are not certain what to stock;because they think that consumers in different areas of the country will;probably be interested in different books. The store managers have said they;don't know what to order either. The chain should probably get help from;a;A.;broker.;B.;cash-and-carry;wholesaler.;C.;specialty;wholesaler.;D.;rack jobber.;E.;manufacturers;agent.;322.;Meg O'Brien is just;starting as a rack jobber. She will;A.;do what a lot;of grocery store managers don't want to do.;B.;need a lot of;money to get started, since all her customers will expect 30 days to pay;their bills.;C.;not have to;know very much about the preferences of the consumers who buy the products;she handles.;D.;never;actually handle or deliver the products in her line.;E.;probably get;tired of visiting farmers' markets.;323.;Capitol Periodical;Distributors is a wholesaler providing assistance to retailers that want to;carry books and magazines. A retailer provides Capitol with a certain amount;of floor space, and Capitol uses the space to install display racks. Capitol;fills the racks with magazines and books that would be suitable for the;retailer's target market. Every week a representative from Capitol comes in;to remove any outdated publications and refill the racks. This practice helps;the retailer serve its customers better than if the retailer tried to manage;the books and magazines itself. Capitol Periodical Distributors is a;A.;Specialty;wholesaler.;B.;Drop-shipper.;C.;Catalog;wholesaler.;D.;Rack jobber.;E.;Cash-and-carry;wholesaler.;324.;Will Bishop sells a;wide assortment (in small quantities) of "emergency" home repair;items (fuses, electrical tape, small packets of nails) to grocery and;convenience stores. He owns the products he handles, and displays them for;his customers. Bishop is a;A.;manufacturers;agent.;B.;selling;agent.;C.;rack jobber.;D.;cash-and-carry;wholesaler.;E.;truck;wholesaler.;325.;A grocery store;chain has decided to sell a small assortment of fast moving auto repair;items--but is not certain what stock to carry in which stores and does not;want to leave the decision to the local store manager. The chain should;probably get help from a;A.;broker.;B.;cash-and-carry;wholesaler.;C.;specialty;wholesaler.;D.;rack jobber.;E.;manufacturers;agent.;326.;sell;hardware, jewelry, and sporting goods out of a catalog to small industrial or;retail customers that other wholesalers may not call on.;A.;Specialty;wholesalers;B.;Cash-and-carry;wholesalers;C.;Selling;agents;D.;Catalog;wholesalers;E.;Truck;wholesalers;327.;Which of the;following statements about limited-function wholesalers is TRUE?;A.;Cash-and-carry;wholesalers serve small retailers but don't provide credit.;B.;Truck;wholesalers sell perishable products which other wholesalers prefer not to;carry.;C.;Rack jobbers;specialize in nonfood products that sell in small quantities.;D.;Catalog;wholesalers sell hardware, jewelry, sporting goods, and general;merchandise--often catering to small industrial or retailer customers.;E.;All of these;statements about limited-function wholesalers are TRUE.;328.;Agent wholesalers;are;A.;mainly;concerned with buying and selling.;B.;used by small;companies that want a wholesaler to assume all of the risk of carrying;inventory.;C.;specialists;in certain geographic areas, rather than specializing by product or;customer type.;D.;at a;disadvantage because manufacturers expect them to pay for products before;they are shipped.;E.;None of these;alternatives are correct for agent wholesalers.;329.;The main difference;between agent wholesalers and merchant wholesalers is;A.;the kind of;selling they do.;B.;that agent;wholesalers do not own the products they sell--while merchant wholesalers;do.;C.;that no agent;wholesalers physically handle products--while all merchant wholesalers do.;D.;their;attitudes regarding the marketing concept.;E.;There is no;difference--an agent wholesaler IS a merchant wholesaler.;330.;Agent;wholesalers;A.;Own the;products they sell.;B.;Provide more;functions than merchant wholesalers.;C.;Focus on;buying and selling merchandise.;D.;Have higher;costs of operation than merchant wholesalers.;E.;All of these;alternatives are correct for agent wholesalers.;331.;Which of the;following statements about agent wholesalers is FALSE?;A.;Agent;wholesalers do not own the products they sell.;B.;Their main;purpose is to help in buying and selling.;C.;They normally;specialize by customer type and by product or product line.;D.;They are more;common in international trade than in domestic trade.;E.;They usually;provide a larger number of functions than limited-function wholesalers.;332.;Which of the;following is a characteristic of agent wholesalers?;A.;They are more;common in domestic trade than in international trade.;B.;They operate;at relatively high costs.;C.;They own the;products they sell.;D.;They normally;specialize by customer type and by product or product line.;E.;None of these;is a characteristic of agent wholesalers.;333.;Which of the;following is NOT an agent wholesaler?;A.;A;drop-shipper;B.;An auction;company;C.;A selling;agent;D.;A broker;E.;A;manufacturers' agent;334.;Which of the;following wholesalers own (take title to) the products they sell?;A.;Selling;agents;B.;Combination;export managers;C.;Brokers;D.;Manufacturers;agents;E.;None of these;wholesalers owns the products they sell.;335.;A manufacturers;agent;A.;sells;noncompeting products for several manufacturers in a limited territory.;B.;is often;replaced by a manufacturer's own sales force when sales rise.;C.;is paid a;commission on sales.;D.;can be;especially useful to a small manufacturer with a narrow line of new;products.;E.;All of these;alternatives are correct for a manufacturers' agent.;336.;Manufacturers;agents usually work for;A.;manufacturers;sales branches.;B.;only one;manufacturer.;C.;selling;agents.;D.;several;manufacturers of noncompeting lines.;E.;service;wholesalers.;337.;A manufacturers;agent sells;A.;similar;products for several noncompeting producers for a commission on what is;actually sold.;B.;different products;for several noncompeting producers for a commission on what is actually;sold.;C.;similar;products for several competing producers for a commission on what is;actually sold.;D.;different;products for several competing producers for a commission on what is;actually sold.;E.;different;products for several competing producers for a fixed salary irrespective of;sales.;338.;Which of the;following wholesalers would be most helpful to a small manufacturer of;computer components who wants to obtain distribution in several major markets;and still retain control of the marketing of its products?;A.;Manufacturers;agents;B.;Rack jobbers;C.;Selling;agents;D.;Brokers;E.;Manufacturers;sales branches;339.;Manufacturers' agents;A.;are;frequently used by manufacturers to help introduce a new product.;B.;typically;have a temporary relationship with a manufacturer, until a specific item is;sold.;C.;usually;handle products for only a few companies since the cost of adding;additional lines is quite high.;D.;usually;handle a full assortment of products from competing manufacturers.;E.;buy large;inventories from small manufacturers--helping them acquire working capital.;340.;Manufacturers;agents;A.;don't cost;the producer anything until something sells.;B.;aren't very;useful for introducing new products.;C.;usually;perform storing and transporting functions.;D.;usually;handle the competing lines of several manufacturers.;E.;All of these alternatives;are correct for manufacturers' agents.;341.;Jason Everson;represents producers of several noncompeting industrial product lines. When;he visits his clients, he carries a catalog from each one of the producers he;represents. He goes through the catalogs with his clients and then places;orders on their behalf with the producers, who pay Jason a commission based;on what he sells. Jason is a(n);A.;Auctioneer.;B.;Broker.;C.;Selling;agent.;D.;Rack jobber.;E.;Manufacturer's;agent.;342.;Debbie Wood sells;food products to grocery wholesalers and large supermarket chains in;Tallahassee. She sells for several manufacturers with noncompeting lines of;food products--earning a 5 percent sales commission. She neither handles nor;owns the products she sells. Debbie is a;A.;manufacturers;agent.;B.;rack jobber.;C.;broker.;D.;truck;wholesaler.;E.;selling;agent.;343.;Dolly Westin calls;on the many gift shops in Savannah and sells a variety of unique decorative glass;items, wind chimes, and picture frames produced by the companies that she;represents. The store owners can order from Dolly rather than from the three;different producers she represents. Apparently, Dolly is a;A.;selling;agent.;B.;rack jobber.;C.;drop-shipper.;D.;broker.;E.;manufacturers;agent.;344.;are;basically manufacturers' agents who specialize in international trade.;A.;Selling;agents;B.;Auction;companies;C.;Brokers;D.;Export or;import agents;E.;Drop-shippers;345.;A broker's;Product" is;A.;financial;skills--and perhaps credit.;B.;market;contacts for new products.;C.;information;about what buyers need and what supplies are available.;D.;good storage;and transportation facilities.;E.;All of these;are included in a broker's "Product.;346.;All of the following;are true of brokers except;A.;they bring;buyers and sellers together.;B.;they are;especially useful when buyers and sellers do not come into the market very;often.;C.;they usually;have a permanent relationship with the buyer and seller.;D.;the broker's;product is information about what buyers need and what supplies are;available.;E.;they earn;commissions based on completion of transactions between buyers and sellers.;347.;Until recently;Triad Equipment, Inc. took trade-ins when it sold new equipment to;manufacturers. Now, Triad has a new owner who wants to sell the inventory of;used equipment quickly to the best available buyer. He should look for;A.;a;manufacturers' sales branch.;B.;a broker.;C.;a selling;agent.;D.;a;manufacturers' agent.;E.;a sales;finance company.;348.;Sebastian and Clere;Franklin bought a tire recapping facility from a man who had decided to;retire. They were going to convert the building to a studio for dance;lessons--so they wanted to sell off the inventory of recapped tires and;equipment for whatever they could get. The Franklins don't know any buyers;who might be interested in these products. Which of the following types of;wholesalers would be most helpful?;A.;Rack jobbers;B.;Brokers;C.;Specialty;wholesalers;D.;Selling;agents;E.;Manufacturers;agents;349.;Which of the;following is unique to export-import brokers, differentiating them from;general brokers?;A.;They usually;have a temporary relationship with the buyer and seller while a particular;deal is negotiated.;B.;They;specialize in bringing together buyers and sellers from different;countries.;C.;They are;especially useful when buyers and sellers do not come into the market very;often.;D.;They earn a;commission from whichever party hired them when the transaction is;completed.;E.;The broker's;product is information about what buyers need and what supplies are;available.;350.;take;over the whole marketing job of producers, not just the selling;function.;A.;Brokers;B.;Selling;agents;C.;Auction;companies;D.;Export and;import brokers;E.;Service;wholesalers;351.;A wholesaler who;takes over the whole marketing job NATIONALLY for one or a few manufacturers;is called a;A.;merchant;wholesaler.;B.;manufacturers;agent.;C.;broker.;D.;specialty;wholesaler.;E.;selling;agent.;352.;Which of the following;statements about selling agents is FALSE?;A.;They take;over the whole marketing job for a producer.;B.;They may;handle the entire output of one or more producers, even competing;producers.;C.;They may;provide a producer with working capital.;D.;They may even;take over the affairs of the producer's whole business.;E.;None of these;statements about selling agents is FALSE.;353.;A producer is most;likely to use a "selling agent" if;A.;he lacks;marketing know-how and working capital.;B.;he produces a;broad product line.;C.;he mainly;needs aggressive selling.;D.;his target;customers are concentrated in a small geographic area.;E.;he sells a;technical product that needs a lot of follow-up service.;354.;Sandi Barefoot sells;the entire output of several small companies based in Silicon Valley. Each of;the companies designs and produces remote control devices. Sandi has almost;complete control of pricing and selling--because the engineers who started;the companies are mainly interested in inventing things. In addition, Sandi;often provides working capital to the producers, who have very limited;financial resources. Sandi is paid a substantial commission on all sales.;Sandi is a;A.;broker.;B.;selling;agent.;C.;field;warehouser.;D.;manufacturers;agent.;E.;factor.;355.;Regarding;wholesalers, which of the following descriptions is TRUE?;A.;MANUFACTURERS;AGENT: does not own the products, usually carries stocks, represents;several competing manufacturers within a geographic area.;B.;MERCHANT;WHOLESALER: does not take title to products, takes possession, provides;full service, and usually handles a broad variety of products.;C.;BROKER: does;not own the products, does not take possession, major function is selling;and does not anticipate customer needs.;D.;SELLING;AGENT: does not own the products, does the whole marketing job nationally;and may handle competing lines.;E.;All of these;descriptions of different wholesalers are TRUE.;356.;A(n) _____ is a;blend of manufacturers' agent and selling agent--handling the entire export;function for several producers of similar but noncompeting lines.;A.;import broker;B.;auction;company;C.;export broker;D.;combination;export manager;E.;export or;import agent;357.;Which of the;following statements about agent wholesalers is FALSE?;A.;Agent;wholesalers based in a foreign market can be helpful in working through;government red tape because they know the local business customs.;B.;Export and;import brokers bring together buyers and sellers from different countries.;C.;Manufacturers;agents can call on international customers at no cost to the producer until;something sells.;D.;Export and import;agents are basically selling agents who specialize in international trade.;E.;Agent;wholesalers are common in international trade.;358.;If a small U.S.;producer with limited financial resources and little marketing know-how wants;to sell its products in international markets, it should use;A.;an export;commission house.;B.;a factor.;C.;an export;agent.;D.;a combination;export manager.;E.;an export;broker.;359.;The major function;of auction companies is to;A.;deliver the;products they handle.;B.;help finance;by owning products.;C.;take title to;the products they sell.;D.;provide a;place where buyers and sellers can complete a transaction.;E.;All of these;are major functions of auction companies.;360.;Auction;companies;A.;Take over the;whole marketing job of producers.;B.;Work almost;as members of a company's sales force.;C.;Take title to;the products they resell.;D.;Provide a;place where buyers bid to complete a transaction with a seller.;E.;All of these;alternatives are correct for auction companies.

 

Paper#47216 | Written in 18-Jul-2015

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