Marketing and Business Concepts Quiz

Individuals and firms involved in the process of making a product or service available for use or consumption by consumers or industrial users are considered members of:

• a product life cycle.

• a marketing channel.

• an administration system.

• a cartel.

• a facilitating channel.

My Pillow sells pillows, mattress toppers, and sheets made of cotton sourced in Egypt. My Pillow presents its promise of "the best night's sleep in the whole wide world or your money back" using nontraditional marketing channels such as mail order, television or video channels, and infomercials. Which of the following is true of My Pillow's nontraditional channels?

• They increase a brand's coverage in the market.

• They are used to sell stolen or counterfeit products.

• They lead to competition between distribution channels through cannibalization.

• They may help differentiate a firm's product from the competition.

Sounds Inc., a distributor of audio equipment, component parts, and supplies, takes title to all its products. It operates a few warehouses where it stores the finished goods and reships them to its clients, resellers, and other vendors. Sounds Inc. is an example of a _______.

• sales agent

• merchant wholesaler

• retailer

• broker

The Food Company hires and trains workers with disabilities, and as a result the company has increased productivity by up to 25%. This example shows that companies that employ people with disabilities________.

• benefit from social sustainability

• are unaffected by social sustainability

• incur additional costs from social sustainability

• have a high level of absenteeism

Red Oak Inc., a furniture manufacturing company, manufactures furniture only when an order is received. It coordinates and integrates the activities of its suppliers, designers, and carpenters to ensure an efficient production cycle. This enables Red Oak Inc. to deliver the products to customers within five working days. This is an example of_______ management.

• supply chain

• customer relationship

• returns

• asset lifecycle

Geraldo is a customer care executive at a telecommunications service provider. He receives a complaint from a customer about an unnecessary $20 charge on his phone bill. If the company follows the customer service management process, Geraldo is most likely to________.

• forecast whether such problems will arise in the future

• integrate the company's internal capabilities with the customer's needs

• provide a quick response to the customer using customer care software

• resolve the complaint only if the customer is highly valuable to the company

The types and number of intermediaries the producer should use are determined by all of the following EXCEPT ________.

• product characteristics

• buyer considerations

• market conditions

• cloud computing

Strategies to create the perception that multiple channels function as one channel in order to create a seamless shopping experience do NOT include________.

• purchasing an item through an app for in-store pickup

• checking a store's inventory online

• enabling mobile payment while shopping in a store

• adopting a selective distribution strategy

Craft Brewery Inc., a leading multinational beverage manufacturing company, coordinates with Waste Recycling Inc., a waste management company, to create a strategy to recycle and reuse beverage bottles. Craft Brewery Inc. will install hundreds of machines that would recycle empty bottles in several locations and reward consumers who recycle. The company believes that this initiative would help protect the environment. In this scenario, Craft Brewery Inc. is practicing________.

• sustainable supply chain management

• outsourcing

• mass production

• demand-supply integration

Isabella learned about a smartwatch when browsing a catalog. She then researched it on the company's website. Then she went to a retailer in the mall to try it on. Isabella finally purchased the watch using a mobile app. This example shows that_______.

• customers use a multichannel marketing strategy

• customers use a single channel marketing strategy

• retailers use intensive distribution as their marketing strategy

• retailers use exclusive distribution as their marketing strategy