Tuesday, July 23, 2013

Marketing



Question 1
Traditional channels of distribution:
Answer
do not perform bulk-breaking activities.
are usually preferred to other distribution arrangements.
are easier to control than corporate channel systems.
may involve little or no cooperation among channel members.
Question 2
Ravi Singh is working his way through college as an independent distributor of the Rapier Knife Co. The Rapier product line includes kitchen knives, hunting knives, and special-purpose cutlery. Ravi makes sales presentations to potential customers in their homes. If a customer wants to make a purchase, Ravi buys the knives from Rapier and sells them to the customer at a markup. For example, Rapier’s most popular knife is a chef’s knife that Ravi buys for $25 and resells to the consumer for $50. Ravi:
Answer
is part of a direct-to-customer channel.
is engaged in direct marketing.
is engaged in indirect marketing.
is engaged in direct selling, but is part of an indirect channel.

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Question 3
It is difficult to maintain consistent quality in services because:
Answer
services are nonperishable.
as opposed to products, services are tangible in nature.
the server is inseparable from the service.
variability is reduced as more humans are involved in delivery.
Question 4
A computer manufacturer runs training programs for its cooperating retailers’ salespeople, as well as providing newspaper advertising layouts, point-of-purchase materials, and sales manuals. This is an example of:
Answer
a contractual channel system.
an administered channel system.
a traditional channel system.
a vertically integrated corporate channel system.
Question 5
Managers who use the TQM approach think of quality improvement as a __________ process.
Answer
branching
netting
sorting
benchmarking
Question 6
Ideas about potential new products should:
Answer
be encouraged from any and all sources, since only a few ideas will develop into successful products.
not be eliminated from consideration until they have been tested in the commercialization stage.
come primarily from employees of the firm–so that time won’t be wasted evaluating product ideas that are inconsistent with the firm’s objectives and resources.
come from outside the firm, since studies show that really new ideas require a fresh perspective.
Question 7
A publisher of photography books finds that it is cost-effective to print 10,000 or more at a time. But a bookstore orders only a few copies of each book since its customers want to select from a wide variety. This example shows:
Answer
why discrepancies of quantity occur.
why both discrepancies of quantity and assortment occur.
neither discrepancies of assortment or quantity.
multichannel distribution.

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Question 8
Midwest Tools, Inc. of Indianapolis, Indiana owns a plant in Poland for manufacturing and selling machine tools in Europe. This type of international involvement is called:
Answer
management contracting.
licensing.
a joint venture.
a direct investment.
Question 9
Seeking to stop declining sales for an established mouthwash, a sales manager suggests that new coloring be added to the product and a major promotion effort be started for the new product. The Federal Trade Commission would:
Answer
be concerned about the possibility of the firm getting a monopoly.
allow the company to call the product new for only six months.
probably not approve of this at all because the product doesn’t meet the FTC’s definition of new.
allow the promotion effort if it felt that consumers would think the coloring made it new.
Question 10
As a product moves through its product life cycle:
Answer
a firm should change its target market–but not its marketing mix.
the competitive situation moves toward monopoly.
industry profits keep increasing along with industry sales.
customers’ needs and attitudes may change.
Question 11
Compare and contrast exporting, management contracting and joint venturing as approaches to international market entry.If you wanted to expand your successful solar panel business to Mexico which approach would you use, and why?
Question 12
Explain in detail how you would use the new-product development process if you were thinking about offering some kind of summer service to residents in a beach resort town.
Your response should be at least 300 words in length. With references:

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