general business data bank

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general business data bank

Question # 00003619 Posted By: spqr Updated on: 11/16/2013 01:33 PM Due on: 11/30/2013

Subject Marketing Topic Marketing Tutorials:

Question

321.

A national grocery store chain has decided to sell an assortment of hobby, gardening, and cook books. Buyers in the chain's main office are not certain what to stock because they think that consumers in different areas of the country will probably be interested in different books. The store managers have said they don't know what to order either. The chain should probably get help from a

A.

broker.

B.	cash-and-carry wholesaler.

C.	specialty wholesaler.

D.	rack jobber.

E.	manufacturers' agent.

322.

Meg O'Brien is just starting as a rack jobber. She will:

A.	do what a lot of grocery store managers don't want to do.

B.	need a lot of money to get started, since all her customers will expect 30 days to pay their bills.

C.	not have to know very much about the preferences of the consumers who buy the products she handles.

D.	never actually handle or deliver the products in her line.

E.	probably get tired of visiting farmers' markets.

323.

Capitol Periodical Distributors is a wholesaler providing assistance to retailers that want to carry books and magazines. A retailer provides Capitol with a certain amount of floor space, and Capitol uses the space to install display racks. Capitol fills the racks with magazines and books that would be suitable for the retailer's target market. Every week a representative from Capitol comes in to remove any outdated publications and refill the racks. This practice helps the retailer serve its customers better than if the retailer tried to manage the books and magazines itself. Capitol Periodical Distributors is a:

A.	Specialty wholesaler.

B.	Drop-shipper.

C.	Catalog wholesaler.

D.	Rack jobber.

E.	Cash-and-carry wholesaler.

324.

Will Bishop sells a wide assortment (in small quantities) of "emergency" home repair items (fuses, electrical tape, small packets of nails) to grocery and convenience stores. He owns the products he handles, and displays them for his customers. Bishop is a:

A.	manufacturers' agent.

B.	selling agent.

C.	rack jobber.

D.	cash-and-carry wholesaler.

E.	truck wholesaler.

325.

A grocery store chain has decided to sell a small assortment of fast moving auto repair items--but is not certain what stock to carry in which stores and does not want to leave the decision to the local store manager. The chain should probably get help from a

A.

broker.

B.	cash-and-carry wholesaler.

C.	specialty wholesaler.

D.	rack jobber.

E.	manufacturers' agent.

326.

______________ sell hardware, jewelry, and sporting goods out of a catalog to small industrial or retail customers that other wholesalers may not call on.

A.	Specialty wholesalers

B.	Cash-and-carry wholesalers

C.	Selling agents

D.	Catalog wholesalers

E.	Truck wholesalers

327.

Which of the following statements about limited-function wholesalers is TRUE?

A.	Cash-and-carry wholesalers serve small retailers but don't provide credit.

B.	Truck wholesalers sell perishable products which other wholesalers prefer not to carry.

C.	Rack jobbers specialize in nonfood products that sell in small quantities.

D.	Catalog wholesalers sell hardware, jewelry, sporting goods, and general merchandise--often catering to small industrial or retailer customers.

E.	All of these statements about limited-function wholesalers are TRUE.

328.

Agent wholesalers are:

A.	mainly concerned with buying and selling.

B.	used by small companies that want a wholesaler to assume all of the risk of carrying inventory.

C.	specialists in certain geographic areas, rather than specializing by product or customer type.

D.	at a disadvantage because manufacturers expect them to pay for products before they are shipped.

E.	None of these alternatives are correct for agent wholesalers.

329.

The main difference between agent wholesalers and merchant wholesalers is:

A.	the kind of selling they do.

B.	that agent wholesalers do not own the products they sell--while merchant wholesalers do.

C.	that no agent wholesalers physically handle products--while all merchant wholesalers do.

D.	their attitudes regarding the marketing concept.

E.	There is no difference--an agent wholesaler IS a merchant wholesaler.

330.

Agent wholesalers:

A.	Own the products they sell.

B.	Provide more functions than merchant wholesalers.

C.	Focus on buying and selling merchandise.

D.	Have higher costs of operation than merchant wholesalers.

E.	All of these alternatives are correct for agent wholesalers.

331.

Which of the following statements about agent wholesalers is FALSE?

A.	Agent wholesalers do not own the products they sell.

B.	Their main purpose is to help in buying and selling.

C.	They normally specialize by customer type and by product or product line.

D.	They are more common in international trade than in domestic trade.

E.	They usually provide a larger number of functions than limited-function wholesalers.

332.

Which of the following is a characteristic of agent wholesalers?

A.	They are more common in domestic trade than in international trade.

B.	They operate at relatively high costs.

C.	They own the products they sell.

D.	They normally specialize by customer type and by product or product line.

E.	None of these is a characteristic of agent wholesalers.

333.

Which of the following is NOT an agent wholesaler?

A.	A drop-shipper

B.	An auction company

C.	A selling agent

D.

A broker

E.	A manufacturers' agent

334.

Which of the following wholesalers own (take title to) the products they sell?

A.	Selling agents

B.	Combination export managers

C.

Brokers

D.	Manufacturers' agents

E.	None of these wholesalers owns the products they sell.

335.

A manufacturers' agent:

A.	sells noncompeting products for several manufacturers in a limited territory.

B.	is often replaced by a manufacturer's own sales force when sales rise.

C.	is paid a commission on sales.

D.	can be especially useful to a small manufacturer with a narrow line of new products.

E.	All of these alternatives are correct for a manufacturers' agent.

336.

Manufacturers' agents usually work for:

A.	manufacturers' sales branches.

B.	only one manufacturer.

C.	selling agents.

D.	several manufacturers of noncompeting lines.

E.	service wholesalers.

337.

A manufacturers' agent sells

A.	similar products for several noncompeting producers for a commission on what is actually sold.

B.	different products for several noncompeting producers for a commission on what is actually sold.

C.	similar products for several competing producers for a commission on what is actually sold.

D.	different products for several competing producers for a commission on what is actually sold.

E.	different products for several competing producers for a fixed salary irrespective of sales.

338.

Which of the following wholesalers would be most helpful to a small manufacturer of computer components who wants to obtain distribution in several major markets and still retain control of the marketing of its products?

A.	Manufacturers' agents

B.	Rack jobbers

C.	Selling agents

D.

Brokers

E.	Manufacturers' sales branches

339.

Manufacturers' agents:

A.	are frequently used by manufacturers to help introduce a new product.

B.	typically have a temporary relationship with a manufacturer, until a specific item is sold.

C.	usually handle products for only a few companies since the cost of adding additional lines is quite high.

D.	usually handle a full assortment of products from competing manufacturers.

E.	buy large inventories from small manufacturers--helping them acquire working capital.

340.

Manufacturers' agents:

A.	don't cost the producer anything until something sells.

B.	aren't very useful for introducing new products.

C.	usually perform storing and transporting functions.

D.	usually handle the competing lines of several manufacturers.

E.	All of these alternatives are correct for manufacturers' agents.

341.

Jason Everson represents producers of several noncompeting industrial product lines. When he visits his clients, he carries a catalog from each one of the producers he represents. He goes through the catalogs with his clients and then places orders on their behalf with the producers, who pay Jason a commission based on what he sells. Jason is a(n):

A.	Auctioneer.

B.

Broker.

C.	Selling agent.

D.	Rack jobber.

E.	Manufacturer's agent.

342.

Debbie Wood sells food products to grocery wholesalers and large supermarket chains in Tallahassee. She sells for several manufacturers with noncompeting lines of food products--earning a 5 percent sales commission. She neither handles nor owns the products she sells. Debbie is a:

A.	manufacturers' agent.

B.	rack jobber.

C.

broker.

D.	truck wholesaler.

E.	selling agent.

343.

Dolly Westin calls on the many gift shops in Savannah and sells a variety of unique decorative glass items, wind chimes, and picture frames produced by the companies that she represents. The store owners can order from Dolly rather than from the three different producers she represents. Apparently, Dolly is a

A.	selling agent.

B.	rack jobber.

C.	drop-shipper.

D.

broker.

E.	manufacturers' agent.

344.

___________ are basically manufacturers' agents who specialize in international trade.

A.	Selling agents

B.	Auction companies

C.

Brokers

D.	Export or import agents

E.	Drop-shippers

345.

A broker's "Product" is:

A.	financial skills--and perhaps credit.

B.	market contacts for new products.

C.	information about what buyers need and what supplies are available.

D.	good storage and transportation facilities.

E.	All of these are included in a broker's "Product."

346.

All of the following are true of brokers except

A.	they bring buyers and sellers together.

B.	they are especially useful when buyers and sellers do not come into the market very often.

C.	they usually have a permanent relationship with the buyer and seller.

D.	the broker's product is information about what buyers need and what supplies are available.

E.	they earn commissions based on completion of transactions between buyers and sellers.

347.

Until recently, Triad Equipment, Inc. took trade-ins when it sold new equipment to manufacturers. Now, Triad has a new owner who wants to sell the inventory of used equipment quickly to the best available buyer. He should look for:

A.	a manufacturers' sales branch.

B.

a broker.

C.	a selling agent.

D.	a manufacturers' agent.

E.	a sales finance company.

348.

Sebastian and Clere Franklin bought a tire recapping facility from a man who had decided to retire. They were going to convert the building to a studio for dance lessons--so they wanted to sell off the inventory of recapped tires and equipment for whatever they could get. The Franklins don't know any buyers who might be interested in these products. Which of the following types of wholesalers would be most helpful?

A.	Rack jobbers

B.

Brokers

C.	Specialty wholesalers

D.	Selling agents

E.	Manufacturers' agents

349.

Which of the following is unique to export-import brokers, differentiating them from general brokers?

A.	They usually have a temporary relationship with the buyer and seller while a particular deal is negotiated.

B.	They specialize in bringing together buyers and sellers from different countries.

C.	They are especially useful when buyers and sellers do not come into the market very often.

D.	They earn a commission from whichever party hired them when the transaction is completed.

E.	The broker's product is information about what buyers need and what supplies are available.

350.

____________ take over the whole marketing job of producers, not just the selling function.

A.

Brokers

B.	Selling agents

C.	Auction companies

D.	Export and import brokers

E.	Service wholesalers

351.

A wholesaler who takes over the whole marketing job NATIONALLY for one or a few manufacturers is called a:

A.	merchant wholesaler.

B.	manufacturers' agent.

C.

broker.

D.	specialty wholesaler.

E.	selling agent.

352.

Which of the following statements about selling agents is FALSE?

A.	They take over the whole marketing job for a producer.

B.	They may handle the entire output of one or more producers, even competing producers.

C.	They may provide a producer with working capital.

D.	They may even take over the affairs of the producer's whole business.

E.	None of these statements about selling agents is FALSE.

353.

A producer is most likely to use a "selling agent" if:

A.	he lacks marketing know-how and working capital.

B.	he produces a broad product line.

C.	he mainly needs aggressive selling.

D.	his target customers are concentrated in a small geographic area.

E.	he sells a technical product that needs a lot of follow-up service.

354.

Sandi Barefoot sells the entire output of several small companies based in Silicon Valley. Each of the companies designs and produces remote control devices. Sandi has almost complete control of pricing and selling--because the engineers who started the companies are mainly interested in inventing things. In addition, Sandi often provides working capital to the producers, who have very limited financial resources. Sandi is paid a substantial commission on all sales. Sandi is a:

A.

broker.

B.	selling agent.

C.	field warehouser.

D.	manufacturers' agent.

E.

factor.

355.

Regarding wholesalers, which of the following descriptions is TRUE?

A.	MANUFACTURERS' AGENT: does not own the products, usually carries stocks, represents several competing manufacturers within a geographic area.

B.	MERCHANT WHOLESALER: does not take title to products, takes possession, provides full service, and usually handles a broad variety of products.

C.	BROKER: does not own the products, does not take possession, major function is selling, and does not anticipate customer needs.

D.	SELLING AGENT: does not own the products, does the whole marketing job nationally, and may handle competing lines.

E.	All of these descriptions of different wholesalers are TRUE.

356.

A(n) _____ is a blend of manufacturers' agent and selling agent--handling the entire export function for several producers of similar but noncompeting lines.

A.	import broker

B.	auction company

C.	export broker

D.	combination export manager

E.	export or import agent

357.

Which of the following statements about agent wholesalers is FALSE?

A.	Agent wholesalers based in a foreign market can be helpful in working through government red tape because they know the local business customs.

B.	Export and import brokers bring together buyers and sellers from different countries.

C.	Manufacturers' agents can call on international customers at no cost to the producer until something sells.

D.	Export and import agents are basically selling agents who specialize in international trade.

E.	Agent wholesalers are common in international trade.

358.

If a small U.S. producer with limited financial resources and little marketing know-how wants to sell its products in international markets, it should use:

A.	an export commission house.

B.

a factor.

C.	an export agent.

D.	a combination export manager.

E.	an export broker.

359.

The major function of auction companies is to:

A.	deliver the products they handle.

B.	help finance by owning products.

C.	take title to the products they sell.

D.	provide a place where buyers and sellers can complete a transaction.

E.	All of these are major functions of auction companies.

360.

Auction companies:

A.	Take over the whole marketing job of producers.

B.	Work almost as members of a company's sales force.

C.	Take title to the products they resell.

D.	Provide a place where buyers bid to complete a transaction with a seller.

E.	All of these alternatives are correct for auction companies.

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Solution: general business data bank

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