QUESTION Which of the following has caused proprietary software solutions to implement electronic data interchange systems become obsolete? A. Just-in-time inventory system B. Flexible machine technology C. The Internet D. Dynamic capabilities E. Social Networking ANSWER C
Date: September 3rd, 2020
QUESTION Which of the following is a consequence of an electronic data interchange system? A. Increased in production costs B. Reduction in paperwork between suppliers, shippers, and the purchasing firm C. Helps a firm centralize materials management decisions D. Decrease in flexibility and responsiveness of the supply system E. Leaves a firm without a buffer […]
Date: September 3rd, 2020
QUESTION A global marketing strategy that views the world’s consumers as similar in their preferences is consistent with the mass production of a standardized output. Indicate whether the statement is true or false. ANSWER TRUE A global marketing strategy that views the world’s consumers as similar in their tastes and preferences is consistent with […]
Date: September 3rd, 2020
QUESTION Which of the following was pioneered by Japanese firms during that country’s remarkable economic transformation during the 1960s and 1970s? A. Lean production B. Flexible manufacturing technology C. Dynamic capabilities D. Just-in-time inventory systems E. Global learning ANSWER D
Date: September 3rd, 2020
QUESTION A critical aspect of the marketing function is identifying gaps in the market so that a firm can develop new products to fill those gaps. Indicate whether the statement is true or false. ANSWER TRUE A critical aspect of the marketing function is identifying gaps in the market so that the firm can […]
Date: September 3rd, 2020
QUESTION Which of the following is true about firms using just-in-time (JIT) inventory system? A. A company is more likely to have excess unsold inventory that it has to write off against earnings. B. Parts enter the manufacturing process immediately; they are not warehoused. C. It is difficult to spot and fix defective inputs. D. […]
Date: September 3rd, 2020
QUESTION Firms vary their marketing mix from country to country depending on differences in national culture. Indicate whether the statement is true or false. ANSWER TRUE The marketing mix is a set of choices that a firm offers to its targeted markets. Many firms vary their marketing mix from country to country, depending on […]
Date: September 3rd, 2020
QUESTION Which of the following is an objective of logistics? A. Increase the cost of value creation B. Manage a firm’s global supply chain at a low cost C. Reduce inventory turnover D. Reduce a firm’s customer responsiveness E. Increase inventory holding costs ANSWER B
Date: September 3rd, 2020
QUESTION Markets can be segmented by geography, demography, sociocultural factors, and psychological factors. Indicate whether the statement is true or false. ANSWER TRUE Markets can be segmented in numerous ways: by geography, demography (e.g., gender, age, income, race, education level), sociocultural factors (e.g., social class, values, religion, lifestyle choices), and psychological factors (e.g., personality).
Date: September 3rd, 2020
QUESTION The basic philosophy behind just-in-time (JIT) inventory systems is to: A. economize on inventory holding costs. B. reduce inventory turnover. C. create a buffer stock of inventory. D. reduce costs by reducing quality. E. increase the total working capital requirement. ANSWER A
Date: September 3rd, 2020
