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.

Average customers are most valued because they give the most value and benefits to the service provided by the business, This serves as a guideline for employees who are selling or representing the product or the service to the customers and gives the moderate rating about their serving. Average customers also help in improving awareness and recognition and also builds trust and loyalty that creates a good bond between the sellers and customers.

Answer 2 (Q.8)

Option A - Many strong and committed suppliers.

Explanation

There should be strong and committed suppliers to maximize the effectiveness of the contracts by assuring that the elements are sourced to the best suppliers or providers possible out there as this can have a great impact if the suppliers are good enough to carry out a particular task. The focus is being maintained so that there are fewer chances of having risks in the enterprises and that the quality is being improved so provide with betterment.

Answer 3 (Q.9)

Option B - Quality.

Explanation

If the quality is good then there will be more customers which will increase the value and enhance the business image with higher profitability. There will be more customer focus and satisfaction that will bring a high rate of support to the business by the increased amount of benefits and better cost maintenance would be seen. Quality makes an important contribution to long-term income and profitability.

Answer 4 (Q.10)

Option C - Push supply chain

Explanation

In the push supply chain, the products are being promoted and presented by pushing them onto people and it requires a lot of approachment as it is a promotional strategy where the business attempts to portray their messages in front of the potential customers to attract them. A push strategy uses trade promotions to push a product or service through to the sales channel to be presentable enough to promote their products.

Answer 5 (Q.11)

Option D - Reverse logistics.

Explanation

Reverse logistics refer to the usage and recycling of goods and supplies. It is the process of moving goods from their usual ultimate purpose to capture the value. After the sale, any management or business includes reverse logistics to improve the outcomes. To retain any use from the defective product, the product would travel in reverse through the supply chain network and such matters are referred to as reverse logistics.

Remaining Answers are in the attachment