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Merchandising Chapter 1
Iowa State University TC 275 Instuctor: Linda Niehm
10
Business
Undergraduate 2
02/09/2011

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Term
The text defines merchandising as _________ product lines for identified target market(s) with regard to pricing, assortment, styling, and timing.
Definition
Planning, developing, and presenting
Term
What are some examples of technologies adopted to facilitate quick response? (There are 3 of them)
Definition
Bar codes, EDI, RFID
Term
(T/F) The operations constituency manages the organization's resources of people and physical property.
Definition
True
Term
Which of the following is NOT an example of external coalitions? A)Customers
B)Shareholder
C)Supply chain
D)Community members
Definition
C)Supply Chain
Term
(T/F) Comparing to Theory X management style, Theory Y management style incoporates more interactive communication and employee emplowerment.
Definition
True
Term
What firm constituency should be responsible for the overall goals of the firm?
Definition
Executive
Term
In explaining a firm's decision making, economic theories of the firm emphasize ___________, whereas behavioral theoreis of the firm emphasize the role of _____.
Definition
profit maximization; human action
Term
The resources of a firm can include:
A)Only physical property B)Only money C)Only people D)All of the avove
Definition
D)
Term
The trade matrix includes four major component groups:
Definition
material manufacturers and suppliers, finished goods manufacturers, retailers, and consumers
Term
Which of the following statements are correct regarding production-driven and market-driven firms ?

A)Market-driven firms make and sell goods that can be produced conveniently and efficiently
B)Market-driven firms’ production schedules are planned based on sales forecasts and merchandising planning and development.
C)All of the above.
Definition
B)Market-driven firms’ production schedules are planned based on sales forecasts and merchandising planning and development.
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