T/F. Place decisions make goods and services available in the right quantities and locations, when customers want them.

(T/F). Many types of retailers are now establishing a presence on the Internet.

(T/F). A marketing manager who sets prices to achieve a given level of market share is using a profit-oriented pricing objective.

(T/F). At zero output, total variable cost is zero.

(T/F). Semi-Pro Ballplayers is one of Maru Batting Center's four customer segments.

Dividing large quantities into smaller quantities as products get closer to the final market is called _____.

A. accumulating
B. bulk-breaking
C. sorting
D. assorting
E. dividing

Which of the following could be considered a part of a retailer's "Product"?

A. Advice from salespeople.
B. After-sale service.
C. Convenient parking.
D. Width and depth of product assortment.
E. All of these are parts of a retailer's "Product."

Which of the following is true of a trade-in allowance?

A. It is a price reduction to stimulate sales of newly introduced products.
B. It allows managers to reduce the effective price without reducing the list price.
C. It forces managers to reduce the list price.
D. It is used to save old products from being removed from the market.

The text says "markup" means percent of:

A. "mark-on."
B. selling price-unless otherwise stated.
C. fixed cost.
D. delivered cost-unless otherwise stated.
E. cost of sales.

Which of the following retailers experienced sales growth in 2016?

A. Home Depot
B. Best Buy
C. Macy's
D. Sears

Nature Fresh Cereal does not feel satisfied with the location and amount of shelf space it is given at Sunshine Health Food Markets. This creates a source of _______.

A. vertical conflict
B. horizontal conflict
C. parallel conflict
D. diagonal conflict

When a supermarket manager decides to set up an end-of-aisle display for 12-pack containers of Coke Zero, this is a decision about:

A. Product
B. Place
C. Promotion
D. Price

Trying to get the "cream" of a market (i.e., the top of a demand curve) at a high price before aiming at the more price-sensitive customers is consistent with a(an):

A. flexible-price policy.
B. sales-oriented pricing policy.
C. skimming pricing policy.
D. introductory price dealing policy.
E. penetration pricing policy.

The production cost of an automobile component is $45. The producer takes a 10 percent markup and sells the product to the wholesaler. What is the wholesaler's cost?

A. $45
B. $5
C. $10
D. $50
E. $60

"The Multichannel Imperative" refers to:

A. Shopping on television channels
B. Selling online
C. Retailing on multiple distribution channels
D. Treating individual channels as independent silos

For homogeneous shopping goods, marketers favor low-cost retailers primarily because:

A. customers focus on low prices.
B. customers focus on low quality.
C. customers focus on broad product assortments.
D. low-cost retailers provide extensive customer support.

Compared to conventional retailers, which of the following types of retailers offer a wider product assortment but less service?

A. Convenience stores.
B. Supermarkets.
C. Telephone order retailers.
D. Department stores.
E. Limited-line stores.

A profit maximization pricing objective:

A. is a sales-oriented pricing objective.
B. does not always lead to high prices.
C. can never be socially responsible.
D. is often stated as percentage of market share.
E. is a status quo oriented pricing objective.

At break-even point:

A. the firm's total revenue will equal its variable costs.
B. the firm's total sales will equal its total production.
C. the firm's total cost will equal its total revenue.
D. the firm's total profits will equal its total cost.
E. the firm's total variable costs equal its total fixed cost.

(T/F). Brands are an Effect, not a Cause

Throughout the world, Sony sells its televisions through retailers. Which of the following is probably a reason for using this indirect distribution strategy?

A. Sony's customers prefer to buy direct from Sony.
B. Sony's customers do not know which intermediaries sell its televisions.
C. Sony has limited financial resources.
D. Sony could more effectively serve customers by selling to them through its website.
E. Sony believes that some intermediaries can serve customer needs better than Sony and at lower cost.

A new grocery store features a bank, a pharmacy, a flower shop, a full-service bakery, a café, photo processing, and equipment rentals, in addition to its normal grocery product lines. The store is engaging in:

A. The wheel of retailing.
B. Retailing strategy.
C. Scrambled merchandising.
D. The retail life cycle.
E. Merchandising strategy.

Which of the following pricing policies involves entering a market with a single low price and not significantly increasing the price even upon gaining a major market share?

A. Introductory price dealing
B. Temporary price cut policy
C. Skimming price policy
D. Penetration price policy
E. Zone pricing policy

A company has total fixed cost of $400,000. its fixed-cost contribution per unit is $10.00. What is the break-even quantity?

A. 1,000
B. 10,000
C. 20,000
D. 40,000
E. 4,000,000

Which of the following are NOT factors that Customer Lifetime Value depends on?

A. Annual profit generated by each customer
B. Number of years the customer is likely to stay with the firm
C. Cost to acquire a new customer
D. All of these are factors