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Peggy's assignments
Peggy's final grade is 96/100, A (96%)
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This exam was turned in on time on Saturday, May 7 at 9:40 PM
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Peggy submitted this Attempt On time on Saturday, May 7 at 9:40 PM Peggy spent 2 hours 37 minutes taking the Attempt
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Exam
1)
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Identify the four stages of the product life cycle and give a product example of each cycle?
(5pts)
Peggy's answers
1)Market Introduction - a new product that has just been introduced in the market 2) Market Growth - the product has become popular and there are many competitors entering the market 3) Market Maturity - sales have leveled off & competiton gets tough 4) Sales Decline - product has lost it's new edge and sales have slowed down
Word count: 55 words
2)
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What is the Federal Trade Commissions' definition of  a " New" product?
(5pts)
Peggy's answers
A product must be entirely new or changed in a functionally significant or sustantial respect and it may only be called new for six months.
Word count: 25 words
3)
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Identify the five steps of the "New product development process". Which is the most important?
(5pts)
Peggy's answers
1) Idea Generation 2) Screening 3) Idea Evaluation 4) Development 5) Commercialization I think idea generation is the most important, because you would not have any of the other steps if you did not have a good idea to befgin with.
Word count: 37 words
4)
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Define benchmarking and give an example
(5pts)
Peggy's answers
Benchmarking is comparing your company's quality with etablished industry standards such as selling a laptop computer with an acceptable performance level.
Word count: 21 words
5)
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Discuss the social value of new-product development activities that seem to encourage people to discard products that are nto all worn out. Is this an econmic waste?  How worn out is worn out?
(5pts)
Peggy's answers
There can be ethical issues when companies plan to introduce new products soon after introducing a product. Some companies intentionally do this to increase sales and can lose customers in the long run if they are perceived by the public as being unethical. It makes me angry to buy a product and see a new improved edition on the market two months later.
Word count: 63 words
6)
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What is the difference between " selling direct' and direct marketing?
(5pts)
Peggy's answers
Selling direct is a consumer buying direct from the product producer and direct marketing is direct communication etween a seller and an individual customer using a promotion method other than face-to-face personal selling.
Word count: 33 words
7)
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Define discrepancy of assortment and give an example.
(5pts)
Peggy's answers
Discrepancy of assortment means the difference between the lines a typical producer makes and the assortment final consumers want. A golfer wants more than just golf balls. They also need shoes, gloves, clubs and a bag. They do not want to go to seperate stores for each item.
Word count: 48 words
8)
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List the the three types of marketing exposure?

(5pts)
Peggy's answers
1) Intensive Distribution 2) Selective Distribution 3) Exclusive Distribution
Word count: 7 words
9)
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List and explain the four types of regrouping activities that middlemen use to create a value for their service?
(5pts)
Peggy's answers
1) Accumulating involves collecting products from many small producers. 2) Bulk-breaking involves dividing larger quantities into smaller quantities. 3) Sorting means separating products into grades and qualities. 4) Assorting means putting together a variety of products.
Word count: 33 words
10)
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Give three advantages of a manufacturer using a dual distribution system

(5pts)
Peggy's answers
1) Increased sales 2) May reach a target market more effectively 3) May reach a different type of customer
Word count: 17 words
11)
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Define the total cost approach when evaulating Physical Distribution Systems. Give examples of how comflicts might occur  between different departments in an organization.
(5pts)
Peggy's answers
The total cost approach involves evaluating each possible PD system and identifying all of the costs of each alternative. There could be conflict if each department does it's own thing and don't think about the distribution system as a whole.
Word count: 40 words
12)
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List the 5 transport modes, and compare their cost and delivery speed to each other.
(5pts)
Peggy's answers
Truck..........High Cost..........Fast Delivery Rail..........Medium Cost..........Average Delivery Water..........Very Low Cost..........Very Slow Delivery Air..........Very High Cost..........Very Fast Delivery Pipeline..........Low Cost..........Slow Delivery
Word count: 15 words
13)
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Identify the 6 actual expenses incurred for total inventory cost.
(5pts)
Peggy's answers
1) Interest expense & opportunity cost of money tied up in inventory 2) Cost of storage facilities and maintaining them 3) Handling costs to put products in inventory & take them out 4) Costs of damage to products while in inventory 5) Costs of risks such as theft & fire 6) Costs of inventory becoming obsolete
Word count: 51 words
14)
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Clearly differentiate between a warehouse and  a distribution center. Explain how a specific product would be handled differently by each.
(5pts)
Peggy's answers
Private warehouses are storing facilities owned or leased by companies for their own use. Public warehouses are independent storing facilities. A distribution center is a special kind of warehouse designed to speed the flow of goods and avoid unnecessary storing costs. A warehouse stores large quantities of product until they are sold. A distribution center has goods going in and out more frequently, often being sent out the same day it goes in.
Word count: 73 words
15)
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If a retailer operates only from a website and ships orders by UPS, is it freed from the logistics issues that face traditional retailers? Expalin your thinking.
(5pts)
Peggy's answers
They do not have the same expenses or problems that traditional retailers have. A website costs money, but they don't have to have a store like a traditional retailer has. The internet seller cuts out a lot of expenses and problems that the traditional retailer has.
Word count: 46 words
Personalized Feedback:
Actually it is almost expensive to run an internet company anymore.
16)
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What is an agent middleman's marketing mix?
(5pts)
Peggy's answers
Product, Price, Promotion, Place
Word count: 4 words
17)
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Discuss a few changes in the marketing enviromnent that you think help to exlain why telephone, mail-order, and Interner retailing have been growing so rapidly
(5pts)
Peggy's answers
People are so busy these days that they don't have time to go shopping and browse until they find what they want. There are also a lot more choices today than ever before. It can even be dangerous to go to the city and shop these days. Life is just more complicated than it used to be. The internet brings information and opportunity to our livingroom. We can relax and shop in our pajamas.
Word count: 74 words
18)
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How do you think a retailer of Whirlpool washing machines would react if Whirlpool set up a website and sold direct to consumers, and shipped direct from its distribution center? Explain your thinking.
(5pts)
Peggy's answers
I think they would be upset to be competing with their own company. The same customer who may have walked into the store and bought the washing machine could now shop for it online and have it delivered without ever leaving their house.
Word count: 43 words
19)
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What is the difference between  an Agent Middleman and a Manufacturingt Agent?

(5pts)
Peggy's answers
An agent wholesalers do not own the products they sell. Their main purpose is to help in buying and selling. A manufacturing agent sells similar products for several noncompeting producers for a commission on what is actually sold.
Word count: 38 words
20)
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Idfentify three reasons why a company has to have some type of reverse channel policy.
(5pts)
Peggy's answers
1) Products may have to be recalled 2) If an error is made in an order it may have to be returned 3) Items under warranty must get to a repair center
Word count: 30 words

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