For the long-term success of the business, Stacey's Steamers has decided to add a self-serve laundromat.
Which describes the business activity Stacey's Steamers is likely involved in?
a) Organizing itself for meeting its objectives
b) Establishing a system for retrieving information
c) Promoting its new service to potential customers
d) Determining what will put it in reach of its goals - correct answer ✔✔d) Determining what will put it
in reach of its goals
Effective corporate branding involved creating
a) New products on an ongoing basis
b) Emotional connections with customers
c) Many different advertising messages
d) Direct channels of distribution - correct answer ✔✔b) Emotional connections with customers
Channel members' sharing inventory and order-processing information through databases and computer
systems is an example of the use of technology in:
a) Pricing
b) Planning
c) Distribution
d) Promotion - correct answer ✔✔c) Distribution
Which of the following is a benefit of the business-format franchise arrangement:
,a) Strict operating hours
b) Reduced risk of failure
c) Limited number of vendors
d) Uniform store appearance - correct answer ✔✔b) Reduced risk of failure
Co-branding works best when two brands are:
a) In the same industry segment
b) Complementary and more or less equal in stature
c) Owned by the same parent company
d) Fierce competitors - correct answer ✔✔b) Complementary and more or less equal in stature
Purchasing insurance to cover business risks is an example of business risks' being handled through
a) Retention
b) Avoidance
c) Transfer
d) Prevention - correct answer ✔✔c) Transfer
What do many businesses often use to promote products and increase awareness?
What is the main purpose of most food safety laws and regulations?
A. To prevent contamination
, C. To monitor production
B.To organize distribution
D. To eliminate bacteria - correct answer ✔✔A. To prevent contamination
Efficient inventory control can keep a convenience store from having too much of its __________ tied up
in stock.
A. accounts receivable
B. capital
C. sales volume
D. utility - correct answer ✔✔B. Capital
The use of intermediaries enables food producers to make larger profits because intermediaries
A. enable producers to use direct distribution.
B. may sell more than the producer could sell on its own.
C. increase the number of retailer to producer contacts.
D.help to reduce the per-unit costs of goods. - correct answer ✔✔B) May sell more than the producer
could sell on its own.
By using intermediaries, a food producer may be able to increase the size of its sales force by sharing the
selling activities with other businesses. Although the use of intermediaries may help to reduce the per-
unit cost of a good, this does not automatically increase the profits of the producer. By using
intermediaries, producers are unable to deal directly with ultimate consumers or industrial users. The
use of intermediaries decreases the number of retailer to producer contacts
Tying agreements between food producers and distributors might be considered illegal if they
substantially limit
A. profitability.
B. competition.
C. management.
D. technology. - correct answer ✔✔B. Competition.
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