Logistics and Distribution Quiz
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Questions and Answers

Which type of carrier does not have to publish its freight rates?

  • Intermodal carrier
  • Contract carrier (correct)
  • Common carrier
  • Private carrier

    • Direct distribution is the most commonly used channel in both consumer and industrial markets.

    False

    What is the primary benefit of using an in-house sales force for a company?

    Increased control over its products.

    The _____ Product Code is demanded by retailers to save time.

    <p>Universal</p> Signup and view all the answers

    Match the following terms with their corresponding descriptions:

    <p>Extra dating = Encourages buyers to purchase new merchandise Centralized buying = Saves money and presents a unified image Advance dating = Arranging shipping dates before merchandise is needed Real-time inventory = Essential for e-business operations</p> Signup and view all the answers

    Which statement about intermodal transportation is correct?

    <p>It combines multiple transportation modes.</p> Signup and view all the answers

    The Federal Aviation Administration oversees freight charges for air shipments.

    <p>False</p> Signup and view all the answers

    What is an industrial user in terms of product distribution?

    <p>A final user who purchases products for operational use in a business.</p> Signup and view all the answers

    Which statement concerning UPC codes is true?

    <p>UPC codes replace the need for marking merchandise with a pricing machine.</p> Signup and view all the answers

    Some staple items in retail businesses rarely have price changes and can be marked by the preretailing marking method.

    <p>False</p> Signup and view all the answers

    What type of pricing strategy encourages volume sales and aims to attract a broader customer base?

    <p>penetration pricing</p> Signup and view all the answers

    Bartering involves the exchange of goods or services for a mutually agreed-on amount of __________.

    <p>money</p> Signup and view all the answers

    Match the following statements with their corresponding judgments:

    <p>Retailers using loss leader techniques = Prohibited in states with minimum price laws Trade discounts = Based on the manufacturer's price E-tailing = Increases popularity of flexible pricing Outdated technology = Growth stage in other global markets</p> Signup and view all the answers

    A retailer who discounts an item's retail price will also decrease their markup on that item.

    <p>True</p> Signup and view all the answers

    What act outlawed the practice of punishing retailers in 1975?

    <p>Robinson-Patman Act</p> Signup and view all the answers

    Which of the following statements about flexible pricing is true?

    <p>E-tailing has increased the popularity of flexible pricing.</p> Signup and view all the answers

    Which type of transportation accounts for the smallest percentage of total ton-miles of freight shipped?

    <p>Rail</p> Signup and view all the answers

    Electronic data interchange (EDI) is primarily used to transact purchase orders between businesses.

    <p>True</p> Signup and view all the answers

    What type of purchasing situation involves regularly ordering staple goods from a familiar vendor?

    <p>Straight-rebuy</p> Signup and view all the answers

    A store's ______ stock is the figure on which all other sales projection figures in a merchandise plan are based.

    <p>BOM</p> Signup and view all the answers

    Match the following business activities with their relevant descriptions:

    <p>Materials Requirement Planning = Purchasing Stock Shortage = Difference between recorded sales and physical inventory Stock-to-Sales Ratio = Indicator of inventory efficiency Spot Check Method = Quick inspection of received merchandise</p> Signup and view all the answers

    What distribution channel would be best for Sabrina's Textiles, which manufactures fabric for furniture?

    <p>Manufacturer sells to agent who sells to wholesaler who sells to industrial user</p> Signup and view all the answers

    The Baker and Roberti 29 Flavors ice cream company uses a direct distribution method.

    <p>False</p> Signup and view all the answers

    What type of distribution channel involves a mortgage broker?

    <p>Indirect</p> Signup and view all the answers

    Brigette works as a _____ at Rising Bakery Company, managing the bakery's inventory at 25 supermarkets.

    <p>rack jobber</p> Signup and view all the answers

    What is the least expensive means of product transportation?

    <p>Water</p> Signup and view all the answers

    Match the transportation methods with their advantages:

    <p>Rail = Specialized long-distance transport Trucking = Flexible and door-to-door delivery Pipeline = Best safety record Water = Least expensive transportation</p> Signup and view all the answers

    What is the main focus of a distribution center?

    <p>Sorting and moving products</p> Signup and view all the answers

    The transportation system with the best safety record is trucking.

    <p>False</p> Signup and view all the answers

    Which industry faced negative impacts due to price wars?

    <p>The fast-food industry</p> Signup and view all the answers

    The law of diminishing marginal utility states that an increase in the price of a basic necessity will significantly decrease its demand.

    <p>False</p> Signup and view all the answers

    What law prohibits companies from engaging in price fixing?

    <p>Sherman Antitrust Act</p> Signup and view all the answers

    A store is giving a 50 percent discount on select items during a holiday sale, this is an example of a __________ discount.

    <p>promotional</p> Signup and view all the answers

    Match the pricing strategies with their descriptions:

    <p>Everyday low pricing = A strategy aimed at ensuring consistent low prices Odd-even pricing = Setting prices slightly below a round number to create a perception of a deal Psychological pricing = Pricing strategies that impact consumer perception Promotional discount = Temporary reductions in price to boost sales</p> Signup and view all the answers

    What term describes the process of moving unsold summer merchandise to a warehouse in preparation for fall merchandise?

    <p>Inventory transfer</p> Signup and view all the answers

    Inventory costs only include expenses related to storage.

    <p>False</p> Signup and view all the answers

    What is the anticipated consumer satisfaction placed on a product called in terms of pricing?

    <p>value</p> Signup and view all the answers

    To achieve a profit, the community organization needs to sell __________ calendars.

    <p>625</p> Signup and view all the answers

    What was the total cost of bath towels that Richard bought after the 33% markdown?

    <p>$58.83</p> Signup and view all the answers

    The maintained markup in dollars for the tape recorder is $12.28.

    <p>False</p> Signup and view all the answers

    Match the following items with their corresponding stock list categories:

    <p>Writing paper = Stationery Calendars = Special promotional item Envelopes = Office supplies Pens = Stationery</p> Signup and view all the answers

    What is the first step in determining an item's retail price based on its cost?

    <p>Divide the cost by the decimal equivalent of the cost percentage of the retail price.</p> Signup and view all the answers

    Vending service companies are a type of merchant intermediary called a(n) __.

    <p>retailer</p> Signup and view all the answers

    What maintained markup percentage is expected for a refrigerator that costs the retailer $365 and sells for $690 with a 30% markdown?

    <p>24 percent</p> Signup and view all the answers

    What is e-commerce?

    <p>The selling of goods and services through the Internet.</p> Signup and view all the answers

    Match the following distribution types with their definitions:

    <p>Selective = Uses a limited number of outlets in a geographic area Direct = Sells directly to consumers without intermediaries Agent = Paid a commission to facilitate buyer and seller interaction Broker = Represents multiple manufacturers and sells their products</p> Signup and view all the answers

    Distributors add __ utility to a product.

    <p>place</p> Signup and view all the answers

    What is the retail price of the volleyball sold at Spike's Sporting Goods?

    <p>$12.35</p> Signup and view all the answers

    The wholesaler price of the sofa from The Settee Company is $850.

    <p>False</p> Signup and view all the answers

    What percentage discount do professional gardeners receive at Pleasant Valley Gardening Center?

    <p>22%</p> Signup and view all the answers

    The cost of the indoor latex paint at Rainbow Paint Store is $______/gallon.

    <p>4.75</p> Signup and view all the answers

    Match the following companies/products with their respective discounts or prices:

    <p>Settee Company = 30% discount Pathfinder Camping Equipment = 8% discount for early orders Pleasant Valley Gardening Center = 22% discount for gardeners Toy Car Manufacturer = Price for orders over 144 cars: $5.75</p> Signup and view all the answers

    What pricing strategy is illustrated by Savco Drugs offering three tubes of sunblock for $15?

    <p>Multiple-Unit Pricing</p> Signup and view all the answers

    Penetration pricing involves setting high prices initially to capture a market.

    <p>False</p> Signup and view all the answers

    What term describes offering different prices to different customers for the same product?

    <p>Price Discrimination</p> Signup and view all the answers

    The demand for chocolate becomes inelastic when you urgently need it for your guests because it is considered a _____ item.

    <p>necessary</p> Signup and view all the answers

    What is one advantage of odd-even pricing?

    <p>It encourages purchases by appealing to consumer psychology.</p> Signup and view all the answers

    Inelastic demand means that consumers' purchasing behavior is highly responsive to price changes.

    <p>False</p> Signup and view all the answers

    What is the rate of return on investment for Hilda and Eugene's jelly and jam business?

    <p>36%</p> Signup and view all the answers

    What is the fastest and most expensive form of transportation?

    <p>Air</p> Signup and view all the answers

    Pretty Crafty sells exclusively to consumers.

    <p>False</p> Signup and view all the answers

    What is the marketing function of moving goods from a seller to a buyer called?

    <p>Transportation</p> Signup and view all the answers

    A _______ is used to transport oil and natural gas.

    <p>pipeline</p> Signup and view all the answers

    Match the following waterways with their geographic locations:

    <p>Atlantic Ocean = East of the United States Indian Ocean = South of Asia Nile River = Africa Rio Grande = Border between USA and Mexico</p> Signup and view all the answers

    Which of the following describes the shipping from Omaha to Kansas City?

    <p>Intrastate shipping</p> Signup and view all the answers

    Inventory refers to the items a business has in stock.

    <p>True</p> Signup and view all the answers

    What are factories with poor treatment and conditions called?

    <p>Sweatshops</p> Signup and view all the answers

    The planned purchase amount for Sato is $_______ in merchandise.

    <p>9,500</p> Signup and view all the answers

    Match the type of products with their characteristics:

    <p>Craft store = Pretty Crafty Retail buyer = Purchases merchandise for stores Lightly Lively shampoo = Item requested but unavailable BOM stock figure = Corresponds to March's EOM stock</p> Signup and view all the answers

    What does the acronym OTB stand for in Sato's planned purchases?

    <p>On the books</p> Signup and view all the answers

    The US Postal Service ships packages ranging from 1 to 50 pounds.

    <p>False</p> Signup and view all the answers

    What type of distribution is involved in moving goods from Dallas to Houston?

    <p>Intrastate shipping</p> Signup and view all the answers

    Jars of honey stored in a warehouse waiting to be sold are called _______.

    <p>inventory</p> Signup and view all the answers

    Match the following job roles with their responsibilities:

    <p>Retail buyer = Buys merchandise for retail stores Private carrier = Operates own transportation equipment Consumer = Purchases products for personal use Industrial user = Purchases products for business use</p> Signup and view all the answers

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