MKTG Unit 4 Test Prep

Which type of inventory  is an example of a company's inventory?

• a rug that has already been purchased by a customer

• employees who perform accounting for the company

• boxes of noodles on a grocery store shelf

• a list of items that the company wants to order

What problem is a store likely to face if it orders too much inventory?

• running out of inventory when there is a demand

• paying too much in storage and insurance for the inventory

• losing customers to competitors that offer the same product

• missing the chance to get price breaks on large orders

The process and method of bringing a product or service to the consumer is known as __________.

• place utility

• economic utility

• price utility

• distribution

If you want to keep prices low and get products to consumers quickly, what should you do?

• Make the distribution chain longer.

• Avoid distributing the product.

• Use more distributors.

• Keep the distribution chain short.

Which method of tracking inventory is the most secure and expensive?

• RFID tags

• item numbers

• barcodes

• physically counting the items

When a product goes through other companies, such as wholesale and retail companies, before reaching the consumer, it is known as __________.

• direct distribution

• indirect distribution

What is the amount of satisfaction a consumer receives from a particular product or service?

• place utility

• distribution

• economic utility

• time utility

Details on how you plan to get your products or services into the hands of your customers is called __________.

• game plan

• distribution strategy

• marketing intermediary

• value added reseller

Common marketing intermediaries that work in distribution channels include all of these except?

• judges

• brokers

• wholesalers

• retailers

What businesses purchase products and add value to it by offering a service to go along with it and sell it to customers?

• brokers

• wholesalers

• retailers

• value added resellers