Question 1

Selling agents are agents that

Accepted Answer

The answer of Selling agents are agents that
...

Question 2

A unique broker that acts in many ways like a manufacturer's agent is a food broker, representing buyers and sellers in the grocery industry. Food brokers differ from conventional brokers because they act on behalf of producers on a permanent basis and

Accepted Answer

Food brokers act as permanent representatives for producers and receive a commission for their services. They do not typically receive flat fees, separate payments from both buyer and seller, or bonuses based on increased sales.

Question 3

A grocery manufacturer that is seeking an agent that would act on its behalf on a permanent basis and receive a commission should use a

Accepted Answer

The answer of A grocery manufacturer that is seeking an...

Question 4

Similar to the West Edmonton Mall in Alberta, Canada, with shopping, restaurants, hotels, and a theme park, the Mall of America is a variation of

Accepted Answer

The answer of Similar to the West Edmonton Mall in...

Question 5

Freightfinder.com is an Internet company that is called a "go-between." If a trucker needs to find a load for a particular trade lane, he or she can visit this site, list the price and available truck space, and find a company that needs a shipment moved. Since the purpose of this website is to put buyer and sellers together so that a single sale can be made, this website can be categorized as

Accepted Answer

Freightfinder.com acts as a mediator between the trucker who is looking for a load and the company that needs the shipment moved, making them a broker. They do not manufacture or represent any products, nor do they administer any services.

Question 6

Brokers are independent firms or individuals who

Accepted Answer

Brokers are intermediaries who bring buyers and sellers together to facilitate a transaction. They do not take title to merchandise or own it. Instead, they earn a commission for their services in facilitating the transaction between the buyer and seller.

Question 7

Intermediaries that represent a single producer and are responsible for designing promotional plans, setting prices, determining distribution policies, and making recommendations on product strategy are referred to as

Accepted Answer

Selling agents are intermediaries who represent a single producer and are responsible for all aspects of the marketing mix, including designing promotional plans, setting prices, determining distribution policies, and making recommendations on product strategy. Unlike brokers or manufacturer's agents, selling agents have more control and responsibility over the marketing of their client's products. Line brokers primarily focus on buying and selling products on behalf of their clients, while distribution brokers specialize in finding distribution channels for manufacturers.

Question 8

A business in Kansas City, Missouri, looking to rent office space should use ________ to help it locate the most suitable space at the best possible rate.

Accepted Answer

A broker would be the best choice to help the business locate the most suitable office space at the best possible rate. A broker has expertise in the local real estate market and can provide guidance and assistance in finding the right space based on the business's needs and budget. They can also negotiate lease terms and help with paperwork.

Question 9

Carla's Cards uses a ________ to sell and market the entire line of greeting cards. It designs promotional plans, sets prices, determines distribution policies, and makes recommendations to Carla on product strategy.

Accepted Answer

A selling agent is an independent salesperson who contracts with manufacturers to sell their products. They are responsible for selling and marketing the entire line of products, developing promotional plans, setting prices, determining distribution policies, and making recommendations on product strategy. This description corresponds most closely with Carla's Cards' business model.

Question 10

Wholly owned extensions of the producer that perform wholesaling activities are referred to as

Accepted Answer

Wholly owned extensions of the producer that perform wholesaling activities are referred to as manufacturer's branch or sales offices. Option A (general merchandise wholesalers) and E (merchant wholesalers) refer to independent businesses that perform wholesaling activities. Option B (cash and carry wholesalers) refers to a specific type of wholesaler that requires customers to pay in cash and carry out their own products. Option C (agents and brokers) are intermediaries that facilitate sales transactions between buyers and sellers.

Question 11

Originally, filters for Mr. Coffee electric-drip coffeemakers were sold through appliance and mass merchandise stores. If the company decided to sell the filters in grocery stores where customers purchased their coffee, what type of intermediaries would the company most likely hire?

Accepted Answer

A food broker would be the most suitable intermediary for selling filters in grocery stores as they specialize in selling food-related products to grocery stores and have established relationships with them. A full-line wholesaler, drop shipper, or truck jobber may not have the necessary connections to sell directly to grocery stores, while a manufacturer's representative typically works with retailers rather than intermediaries.

Question 12

A manufacturer's branch office

Accepted Answer

A manufacturer's branch office carries the inventory of the producer and performs the functions of a full-service wholesaler. They sell to retailers and sometimes directly to consumers. They also provide after-sales services like repairs and replacements.

Question 13

Mall of America has three ________ stores: Macy's, Nordstrom, and Sears.

Accepted Answer

Anchor stores are large department stores or retail chains that are key attractions in a shopping mall, drawing in customers and supporting smaller stores. Macy's, Nordstrom, and Sears are examples of such anchor stores.

Question 14

A manufacturer's sales office

Accepted Answer

The answer of A manufacturer's sales office
...

Question 15

Unlike merchant wholesalers, agents, and brokers, manufacturers' branches and sales offices are ________ that perform wholesaling activities.

Accepted Answer

Manufacturers' branches and sales offices are wholly owned extensions of the producer, meaning they are part of the same company as the manufacturing operations. Therefore, they are not independent, and they perform wholesaling activities.

Question 16

Intermediaries that represent a single producer and are responsible for the entire marketing function of that producer are referred to as

Accepted Answer

Selling agents represent a single producer and are responsible for the entire marketing function of that producer, including advertising, sales promotion, and distribution. They act as an extension of the producer's sales force and are compensated through commission or a fixed fee.

Question 17

A wholly owned extension of the producer that does not carry inventory, typically performs only a sales function, and is an alternative to agents and brokers is referred to as a

Accepted Answer

The answer of A wholly owned extension of the producer...

Question 18

Another name for a manufacturer's agent is a

Accepted Answer

A manufacturer's representative is also commonly known as a manufacturer's agent. The other options, such as desk jobber, transport vendor, wholesaler, and rack jobber, refer to different roles and functions within the supply chain and do not accurately describe the role of a manufacturer's agent.

Question 19

Independent firms or individuals whose principal function is to bring buyers and sellers together to make sales are referred to as

Accepted Answer

Brokers are intermediaries who bring buyers and sellers together to make sales. They do not take ownership of the products being sold and earn a commission on the sale. Manufacturers' agents, selling agents, manufacturer's branches, and manufacturer's sales offices all relate to the manufacturer's role in the sales process.

Question 20

Intermediaries that work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory are referred to as

Accepted Answer

Manufacturers' agents work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory.

Quiz 13: Retailing and Wholesaling