7.which of the following customers are the most valued by a business? a. average b. major c. below-average d. loyal

8. regarding multiple sourcing, which of the following is preferred?

a. many strong and committed suppliers
b. few, strong, stable, and committed suppliers
c. many, weak, stable, and committed suppliers
d. few strong, few weak, and unpredictable suppliers

9. which of the following represents the costs associated with producing defective finished goods?

a. stock-out
b. quality
c. carrying
d. ordering

10. when expected customer sales data is driving the demand for products, it's called

a. reverse logistics.
b. push supply chain.
c. pull supply chain.
d. forward logistics.

11. last month, a restaurant used 50 pounds of vegetables. this month, the restaurant orders another 50 pounds of vegetables. this is an example of

a. a pull supply chain.
b. a push supply chain.
c. forward logistics.
d. reverse logistics.

12. a toy store has a new game in stock, but customers aren't buying it. which of the following types of inventory increases when customers aren't buying this game?

a. in-transit
b. work-in-process
c. raw materials
d. finished goods

13. which of the following pricing methods ignores competitors and establishes prices based on costs and profits?

a. cost-plus pricing
b. markup pricing
c. target-return pricing
d. perceived-value pricing

14. regarding service characteristics, refers to when a service is created and marketed simultaneously.

a. fluctuating demand
b. inseparability
c. intangibility
d. highly differentiated marketing systems

15. marketing management uses which of the following to find out relationships between data elements of interest and to draw meaningful conclusions about customers?

a. data mining
b. databases
c. data marts
d. data warehouses

16. regarding service characteristics, refers to changes by season, day of the week, or time of the day.

a. fluctuating demand
b. highly differentiated marketing systems
c. inseparability
d. intangibility

17. at which inventory level is operations management considered to be doing an excellent job?

a. absolute minimum level
b. absolute maximum level
c. below the minimum level
d. above the minimum level

18. assume that the unit cost of making a product is $1.32. for every unit sold, the firm wants 20% to represent profit. applying the standard markup approach, what should the selling price be?

a. $1.58
b. $2.38
c. $2.90
d. $1.65

19. selling an expensive antique car via electronic auction generally occurs between

a. one seller and many buyers.
b. one buyer and many sellers.
c. many buyers and many sellers.
d. one buyer and one seller

20. market research is useful in

a. performing baseline market segmentation methods.
b. niche markets, buying experiences, and segmentation.
c. understanding the consumers' buying experiences.
d. identifying niche markets.