Marketing Management Unit 6 Review

What are the 3 Purchasing Situations discussed in Unit 6?

• Straight Rebuy

• Organizational Rebuy

• Modified Rebuy

• New Task Purchase

The resellers' market is found in wholesaling and retailing operations where the person responsible for purchasing is simply called a:

• Seller

• Wholesaler

• Retailer

• Buyer

A person responsible for purchasing Goods for Business Purposes is called what?

• Retail Buyer

• Organizational Buyer

• Wholesale Buyer

• Industrial Buyer

What is Merchandise Planning?

• a  systematic approach that is aimed at maximizing return on investment, through planning sales and inventory in order to increase profitability by maximizing sales potential and minimizing losses from mark-downs and stock- outs

• a  systematic approach that is aimed at maximizing return on investment, through planning sales and inventory in order to increase profitability by maximizing sales potential and minimizing losses from theft and stock- outs

• a  systematic approach that is aimed at maximizing return on investment, through planning sales and inventory in order to increase profitability by maximizing sales potential and minimizing losses from damage and stock- outs

• a  systematic approach that is aimed at maximizing return on investment, through planning sales and inventory in order to increase profitability by maximizing sales potential and minimizing losses from shrinkage and stock- outs

A typical retail clothing business will lose about ______ of its turnover in markdown.

• 10%

• 25%

• 20%

• 15%

What does EOM stand for?

• End Of Meeting

• End of May

• End of Month

• End of Monitoring

What does EOD stand for?

• End of Day

• End of December

• End of Diagram

• End of Distance

A financial budget for retail merchandise that is most appropriate for seasonal merchandise where goods are brought in at the beginning of the season and need to be managed down to pre-determined levels at the end of the season is called:

• Open to Merchandise

• Open to Buy

• Open to Mark Down

• Open to Sell

Part of the criteria for selecting suppliers and vendors includes:

• Product Quality

• Special Services

• Past Experiences

• Negotiated Terms such as employment

Thinking of the Product Development Cycle, what stage would product features be enhanced to differentiate from competitors?

• Introduction

• Growth

• Maturity

• Decline