A general term for a middleman that actually buys from producers or other middlemen and then resells goods to consumers is a _____.
A. functional middleman
B. broker
C. retailer
D. sales agent
E. merchant middleman
Answer: C
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When the customers become active participants in the innovation process, it is known as:
A) democratizing. B) multilearning. C) customerization. D) co-creation.
When Alex, the marketing manager of FrontStreet Inc., realized that his plan to increase sales levels was not producing the results he desired, he took quick action to make necessary adjustments. According to this scenario, Alex was exercising the management function of
A. planning. B. controlling. C. organizing. D. communicating. E. leading.
Many of the so-called new products that are launched each year are in fact line extensions.
Answer the following statement true (T) or false (F)
Which of the following statements about problems arising from the use of a coinsurance clause is (are) true?
I. The amount of insurance should be periodically evaluated to avoid a coinsurance penalty because of inflation. II. An agreed value coverage option is one method used to solve the problem of values that fluctuate throughout the policy term. A) I only B) II only C) both I and II D) neither I nor II