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general business data bank




Question;1. Beyond the optimal order quantity, total;cost per unit increases because ________.;a. inventory-carrying cost per unit increases;b. inventory-carrying cost per unit decreases;c. order-processing cost per unit rises;d. order-processing cost per unit falls more;rapidly;e. order-processing cost per unit falls more;slowly;2. Companies are reducing their inventory;costs by treating inventory items differently, positioning them according to;risk and opportunity. High-risk;low-opportunity items are known as ________.;a. nuisance items;b. bottleneck items;c. commodities;d. critical items;e. containerized items;3. ________ consists of putting goods in boxes;or trailers that are easy to transfer between two transportation modes.;a. Containerization;b. Private labeling;c. Inventory carrying;d. Order processing;e. Warehousing;4. If the shipper owns its own truck or air;fleet, it becomes a ________.;a. containerized carrier;b. private carrier;c. contract carrier;d. common carrier;e. diversified carrier;5. In deciding on the method or means of;transportation, shippers consider such criteria as speed, frequency;capability, availability, traceability, and costs.;a. air versus ground;b. gypsy truckers;c. dependability;d. branded name truckers;e. costs per mile;6. Today customers want more frequent;deliveries, shorter order-cycle times, direct store deliveries, mixed pallets;tighter promised times, and ________ packaging, price tagging, and display;building.;a. colorful;b. childproof;c. custom;d. easy opening;e. theftproof;7. Market-logistics strategies must;be derived from ________, rather than solely from cost considerations.;a. competitive analysis;b. low-cost considerations;c. cost strategies;d. business strategies;e. marketing strategies;Answer: d;True/False;8. Retailing includes all the activities;involved in selling goods or services directly to final consumers for personal;nonbusiness use.;9. Any organization selling to the final;consumers is doing retailing. However, it matters howthe goods or;services are sold and where they are sold.;10. Retailers can position themselves as;offering one of four levels of service.;However, self-selection and self-service are the same in discount;retailers.;11. An off-price;retailer is one in which the retailer has a broad selection of;high-markup, fast-moving, brand-name goods in stock.;12. Full service;retailers have salespeople who are ready to assist the customers in every phase;of their shopping trip.;13. Nonstore;retailinghas not been;growing as fast as traditional store retailing.;14. Corporate retail organizations achieve;economies of scale, greater purchasing power, wider brand recognition, and;better-trained employees.;15. All of the benefits in a franchising system;accrue to the franchisor because the franchisor is able to concentrate the risk;and effort associated with running a store in the hands of the franchisee.;16. The two models of the traditional;department store?s responses to competition is to develop a store with strong;retail brand approaches and the ?showcase? store.;17. Department stores today are exclusively;worried about competition from other department stores. Other retailing forms are not a threat to;department stores? sales and profitability.;18. One of the up and coming trends in;retailing is the growth of giant;retailers,knownas category killers and supercenters.;19. Today, growth in the retail market is;centered firmly in the middle market, leaving luxury retailers and discounting;specialists struggling.;20. The retailer?s product assortment does not;need to match the target market?s shopping;expectations.;21. A retailer?s real challenge begins after;defining the store?s product assortment, and that is to develop a;product-differentiation strategy.;22. Retailers are generally eager to;stock new products, making it difficult for manufacturers to keep older, but;proven brands on the shelves.;23. Because of the high cost of retail;space, most retailers are highly attuned to which of the products they stock;generate profit.;24. Prices are a key positioning;factor to retailers and must be decided in relation to the target market.;25. The amount of time shoppers spend in a;store is perhaps the single most important factor in determining how much they;will buy.;26. Paco Underhill;suggests that retailers, to increase sales volume, make their shoppers hunt for;the merchandise. His logic is this: While ?hunting,? the shopper will be;exposed to more and more products, thus the likelihood increases that the;shopper will purchase ?impulse? items, thus increasing their overall purchase;total.;27. One of a retailer?s most important;decisions is ?location, location, location.?;28. There is generally a relationship;between high customer traffic and high rents in choosing a retail location.;29. Private-label merchandise is also;known as store, house, or distributor brands.;30. Retailers develop their own ?store brands?;to differentiate themselves from other retailers and the national branded;merchandise.;31. The lower price of generics is made;possible by lower-quality ingredients, lower-cost labeling and packaging, and;minimal advertising.;32. The growing power of store brands is not;weakening the national brands due to the national brands? increases in;advertising and research and development.;33. Wholesaling includes all the;activities involved in selling goods or services to those who buy for resale or;business use. Wholesaling includes manufacturers and farmers who sell directly;to consumers.;34. Wholesaler-distributors have not;faced the pressures in recent years from new sources of competition, demanding;customers, new technologies, or more direct-buying programs.;35. Because wholesalers do not;actually manufacture a product, they are unable to effectively manage asset;productivity.;36. Supply chain management starts;when the product comes off the factory floor and enters the;distribution/transportation channels.;37. Market logistics involves planning the;infrastructure to meet demand, then implementing and controlling the physical;flows of materials and final goods from points of origin to points of use, to;meet customer requirements at a profit.;38. Integrated logistics systems involves;materials management, material flow systems, and electronic distribution.;39. Today information systems play a;critical role in managing market logistics, especially computers, satellite;tracking, and electronic funds transfers.;40. Choosing a market-logistics system calls;for examining the total cost (M) associated with different proposed systems and;selecting the system that minimizes it, where T (total freight costs) + FW;(total fixed warehouse cost) + VW (total variable warehouse costs) is expressed;as M = T + FW + VW.;41. One of the four major decisions that must;be made about market logistics is: How much inventory do we keep in the;warehouse?;42. The order-to-payment;cycleis the elapsed time between an order?s receipt, delivery, and payment;by the customer.;43. Order-processing costs must be compared;with inventory-carrying costs because as the amount of stock carried;increases, the higher the inventory-carrying costs.;44. Inventory costs increases at a decreasing;rate as customer-service levels approach 100% fulfillment.;45. The choice of transportation;methods of distribution have negligible effects on the prices charged for the;product and therefore marketers need not be overly involved in this process.;46. The logistics system must be information;intensive and establish electronic links among all the significant parties.;47.;In;shipping goods to its warehouses, dealers, and customers, the company can;choose between five transportation modes: rail, air, truck, waterway, and;pipeline.;Essay;101.;The ?wheel-of-retailing?;hypothesis explains one reason that new store types emerge. Explain this;hypothesis and delineate the four service levels available to retailers.;102.;Although;the overwhelming bulk of goods and services are sold through stores, nonstore;retailing has been growing much faster than store retailing. Nonstore;retailing falls into four major categories. List and briefly define each;category.


Paper#47264 | Written in 18-Jul-2015

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