The goal of inventory management is to:
a. minimize inventory levels while maintaining an adequate supply of goods to meet customer demands.
b. maximize inventory levels to prevent any possibility of stockouts.
c. determine order timing and order quantity.
d. estimate proper usage rates.
e. integrate JIT to reduce risks of obsolescence, theft, and damage.
ANSWER: a
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Marketing Chapter 13
- QuantPro, a manufacturer of electronic goods, sells its products exclusively through its website. It allows shoppers to purchase products while keeping the prices low. This enables the company to avoid any transactions with intermediaries in its marketing channel. According to this scenario, which of the following channels does Quantico use for the distribution of its products?
- Which of the following statements is true of a wholesaler channel?
- In the context of channel functions performed by intermediaries, _____ functions typically include transportation and storage of assets as well as their sorting, accumulation, consolidation, and/or allocation for the purpose of conforming to customer requirements.
- Which of the following statements is a similarity between retailers and wholesalers?
- Which of the following is true of marketing channels?
- Which of the following statements is true of exchange utility?
- Wallace Inc., a stationery manufacturing firm, analyzed the purchasing patterns of its customers and segregated customers according to their frequency of purchase. From the data, it was inferred that the customers who made frequent purchases contributed the most to the firm's revenue. In order to retain valuable customers and build good relationships with them, Wallace Inc. started providing them with customized services. In the context of business processes, this scenario is an example of
- Which of the following is a characteristic of supply chain-oriented firms?
- Andrew, a product developer at the industrial technology firm Magnira Solutions, designs a new tool which has extremely high energy efficiency. The product is proclaimed as a noteworthy invention by many researchers and scientists. In order to improve its image among its consumers, Magnira Solutions communicates the new tool's efficiency to the community and its suppliers. This is an example of _____.
- In the context of the AIDA (attention, interest, desire, and action) model, a marketing message can arouse the desire of consumers by:
- The main function of a marketer's promotional strategy is:
- Which of the following statements is true of earned media?
- A pull strategy is defined as a marketing strategy that:
- Bookworm, a small retailer of books, offers old books to its customers at a discounted price. It has a huge collection of books in a small room. This gives the impression that the owners are giving away the books for free. According to this scenario, which of the following factors has led to this perception of the store's atmosphere?
- Which of the following is true of franchisees?
- Which of the following is true of the retail operation model of a specialty shop?
- When we shop for groceries, hair care, clothes, books, or other products and services, we are doing business with _____.
- Which of the following is true of anchor stores?
- Unlike profit maximization, satisfactory profits:
- Which of the following pricing tactics is used by companies as a way to protect their market share and fight off competition by locking customers into a group of services?
- Which of the following is a disadvantage of rebates?
- A(n) _____ is a private electronic network that links a company with its suppliers and customers.
- Magnira Inc., a retailer, wants to double its sales in the following year. To achieve this, Magnira Inc. should:
- _____ means setting prices so that total revenue is as large as possible relative to total costs.
- Which of the following statements is true of status quo pricing?