If you are seeking new product ideas for your business, your ______ are a good s

Question

If you are seeking new product ideas for your business, your ______ are a good source.

Select the correct answer

salespeople

production people

intermediaries customers

All of these would be good sources for new product ideas.

Selling through only one wholesaler or retailer in a particular geographic area is called:

Select the correct answer

Selective distribution

Exclusive distribution

Equivalent distribution

Intensive distribution

Ideal market distribution

Which of the following is NOT a Place decision?

Select the correct answer

Customer service level desired.

Types of intermediaries needed.poly.

Degree of market exposure desired.

Recruiting, selecting and managing the sales force.

Type of distribution channel to use.

Most physical distribution decisions involve trade-offs between ________.

Select the correct answer

sales and consumer service levels only

availability and speed of delivery only

transportation costs and inventory carrying costs only

costs, consumer service levels, and sales

the total cost of physical distribution and consumer service levels only

If Wilkinson were to sell Norelco the exclusive rights to produce and sell its brand of shavers in Japan for a 5 percent royalty on all sales, it would be using:

licensing.

direct investment.

exporting.

joint venturing.

management

contracting.

___________ stores are usually strong in customer services, including credit, merchandise return, delivery, and sales help.

Department

General

Limited-line luxury

Specialty

The complete set of firms, facilities and logistics activities that are involved in procuring materials, transforming them into intermediate or finished products, and distributing them to customers is called the ________.

physical distribution

group supply chain

logistics partnership

Strategic logistics partnership

just-in time team

Mass-merchandisers

usually operate with low margins on individual items.

operate on the "buy low, sell high" philosophy.

try to reduce costs by reducing inventory turnover.

face a bright future and increasing profits-because of decreasing competition.

None of these alternatives is correct for mass-merchandisers.

Which of the following types of retailers has not yet reached market maturity?

Variety stores

Department stores

Catalog showrooms

Internet merchants

Supercenters

Explanation / Answer

1. The correct answer is "ALL OF THESE WOULD BE GOOD SOURCES FOR NEW PRODUCT IDEA" this is because while developing a new idea one needs to be aware of all the factors which would be reponsible in developing the new product.The salespeople are in direct contact with the customers which helps in gaining information about the cutomer needs,requirements and their wants. The production people will help in gaining knowledge about the requirements for the development of the product and will they be able to fulfill all the criteria for the development. The intermediaries customers like retailers, wholesalers also play an important role in the collecting knowledge and idea about the customers which could help in developing the product according to the tastes and market trends.
2. The correct answer is " EXCLUSIVE DISTRIBUTION". This refers to the assigning certain specific dealers to sell the product in the market or in a particular territory. It is a legal agreement between the producer and the seller but it can vary according to the situation.
3. The correct answer is " RECRUITING, SELECTING AND MANAGING THE SALES FORCE". A place decision may be done where there is a need to provide customer service to the desired customers who are in need of customer service related to any product, the type of intermediaries which are required and are neded at a particular place and the degree of market exposure is required at which place are all related to place decision but recruiting, selecting and managing the sales force are not decisions related to place.
4. The correct answer is " COST, CUSTOMER SERVICE LEVELS, AND SALES". Trade-off analysis refers to the managing physical movement of goods which involves trade-off between various costs, service level of customers and the sales.
5. The correct answer is " LICENSING". According to the situation given above Wilkinson were to sell Noreco, the exclusive rights to produce and sell its brand od shavers in Japan t 5% royalty this may be done through Licensing which refers to a permission to do a business by one party to another party on the basis of ageemene between the two parties.
6. The correct answer is " DEPARTMENT STORES". These are stores that provide customers with different lines of products which are divided into many different departments or sections, so they have a strong customer service, which provides with the credit facilities , home delivery and sales help.
7. The correct answer is " GROUP SUPPLY CHAIN". Supply chain refers to the movement of goods and services from the suppliers to the end users, through people, activities, information and resources which play an important role in supply chain. The supply chain includes the processing of raw material into finished goods for end users.
8. The correct answer is " USUALLY OPERATE WITH LOW MARGINS ON INDIVIDUAL ITEMS". These are stores that have many different departments that follow discounts on lower margins to get faster turnover.
9. The correct answer is " INTERNET MERCHANTS" . It refers to the stage when the market has reached a state of equilibrium, which means there is absence of growth and lacks in innovation.

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