TEST

Question 1

drop shipper

Answer 1

will buy mdse but does not inventory it

Question 2

manufacturer’s agent

Answer 2

works only as a sales rep and works on contract for a single or multi mfrs

Question 3

commission merchant

Answer 3

does not buy the mdse it sells

Question 4

full service wholesaler

Answer 4

firm that buys mdse from a mfr, inventories it, fills orders and delivers mdse to retailer

Question 5

selling agent

Answer 5

like commission merchant, does not buy mdse it sells

Question 6

illiteracy

Answer 6

demographic factor

Question 7

political

Answer 7

factors include local content rules for products and tariffs

Question 8

Sociocultural

Answer 8

factors include religion or multiplicity of languages &/or dialects

Question 9

Technological

Answer 9

factors might include lack of infrastructure to move goods

Question 10

economic factors

Answer 10

lack of viable economic market

Question 11

objective characteristics of consumers

Answer 11

segment includes: age, stage in life cycle, sex, class

Question 12

brand loyatly

Answer 12

situation specific characteristic of consumers

Question 13

mktg concept philosophy

Answer 13

emphasizes the role of the buyer in product development and uses mkt research extensively to anticipate what the buyer wants. Looks at both short and long term goals. Focuses on the benefits of the product

Question 14

convenience goods

Answer 14

candy & mags bought at checkout along w/staples like milk & bread….bought from habit or on impulse & are inexpensive

Question 15

concentrated strategy

Answer 15

also call niche, it focuses on one segment

Question 16

micromarketing

Answer 16

variant of concentrated mktg which focuses on a local or submarket of a segment

Question 17

differentiated strategy

Answer 17

uses many types of mktg mixes for a variety of products sold to a variety of mkt segments

Question 18

SMSA

Answer 18

Standard Metropolitan Statistical Area = analyzes geographic demographics

Question 19

logistics dept

Answer 19

responsible for transportation & storage of raw materials, supplies and finished goods

Question 20

positional influence

Answer 20

someone who has a close relationship w/a buyer has influence

Question 21

reverse logistics

Answer 21

the process of recycling and reuse of materials by a mfr

Question 22

direct channel

Answer 22

where the mfr/supplies sells to customer w/o intermediary

Question 23

promotional allowance

Answer 23

an offer the mfr extends to retailer which the wholesale price is discounted so that the product can be promoted by retailer