Podcast
Questions and Answers
Which activity is a primary responsibility of buyers in a retail setting?
Which activity is a primary responsibility of buyers in a retail setting?
- Providing customer service and resolving complaints.
- Analyzing sales data to forecast future demand and trends. (correct)
- Managing in-store displays and visual merchandising.
- Developing marketing campaigns to attract new customers.
What is a key aspect of price negotiation that buyers must consider?
What is a key aspect of price negotiation that buyers must consider?
- Avoiding any form of negotiation to maintain consistent pricing.
- Focusing solely on achieving the lowest possible price without considering other factors.
- Building long-term relationships with suppliers based on mutual benefit. (correct)
- Prioritizing short-term gains over sustainable partnerships.
How do buyers contribute to joint promotional activities?
How do buyers contribute to joint promotional activities?
- By delegating all promotional responsibilities to the marketing department.
- By collaborating with suppliers to create mutually beneficial promotional campaigns. (correct)
- By avoiding promotional activities to maintain brand exclusivity.
- By independently setting promotional prices without consulting suppliers.
What is the significance of buyers notifying manufacturers of shipments?
What is the significance of buyers notifying manufacturers of shipments?
Which action exemplifies effective customer information collection by a buyer?
Which action exemplifies effective customer information collection by a buyer?
A buyer discovers a supplier consistently delivers late shipments. Which action best addresses this issue while maintaining a positive relationship?
A buyer discovers a supplier consistently delivers late shipments. Which action best addresses this issue while maintaining a positive relationship?
During price negotiations, a supplier offers a discount for a larger order quantity. Which consideration is MOST crucial for the buyer before accepting?
During price negotiations, a supplier offers a discount for a larger order quantity. Which consideration is MOST crucial for the buyer before accepting?
How does a buyer's role in arranging joint promotions benefit both the retailer and the supplier?
How does a buyer's role in arranging joint promotions benefit both the retailer and the supplier?
A buyer receives negative customer feedback about a newly introduced product. What is the MOST appropriate course of action?
A buyer receives negative customer feedback about a newly introduced product. What is the MOST appropriate course of action?
To optimize inventory management, what data should a buyer prioritize when analyzing past sales?
To optimize inventory management, what data should a buyer prioritize when analyzing past sales?
Flashcards
Collecting customer information
Collecting customer information
Collecting customer information is the responsibility of buyers to understand customer needs and preferences.
Negotiating prices
Negotiating prices
Negotiating prices is the responsibility of buyers to get the best deals for their company.
Notifying manufacturers of shipments
Notifying manufacturers of shipments
Notifying manufacturers of shipments is the responsibility of buyers to ensure timely delivery.
Study Notes
- Buyers are responsible for:
- Collecting customer information
- Arranging joint promotions
- Notifying manufacturers of shipments
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
