Ag Marketing Final

Time
What utility is created by the storage of food?
Place
What utility is formed when you request for home delivery pizza.
competition, freedom of choice, limited government regulation.
What are the advantages of a market economy.
Processing
Which of the following marketing functions will create a form utility: storage, advertising and market information, transportation, and processing.
Market economy
What kind of market has disadvantages such as the following: leads to resource waste, excess, and pollution. Doesn’t solve economy issues such as inflation, unemployment and recessions, . It provides for freedom of opportunity but not equal results for all.
D. financing the firm
All the points below describe the marketing intelligence function except:
a. Collecting data
B. Interpreting data
C. disseminating data
D. financing the firm
B. They add costs to farm foods
Which of these is true of food marketing functions:
A. They decrease the value of farm foods.
B. They add costs to farm foods
C. They can be eliminated.
D.They can’t be performed by farmers.
C. Institutional approach
Which of these approaches to studying food marketing discusses the various middlemen:
A. Functional Approach
B. Behavioral systems approach
C. Institutional approach
D. Marketing management approach
A. They are necessary and useful
Which of these best describes the role of middlemen in the food system:
A. They are necessary and useful
B. They exploit farmers and consumes
C. Farmers would be better off without them
D. They serve no useful function
A. risk bearing
Which of these marketing functions is caused by food price variability?
A. risk bearing
B. Storage
C. Processing
D. Transportation
C. Facilitation function
Which classification of functions is a marketing intelligence function part of?
A. Exchange function
B. Physical Function
C. Facilitating function
D. None of the above
B. Functional approach
Which of these approaches to studying food marketing discusses the functions that are performed in the food marketing?
A. Institutional Approach
B. Functional approach
C. Behavioral Systems approach
D. Marketing management approach
B. An increase in the population
All of these factors can lead to market risks except:
A. An unfavorable movement in prices might lead to high inventory losses.
B an increase in the population size.
C. A change in consumer taste might reduce the demand and price of the product.
D. A new marketing strategy of competitors might result in loss of customers.
D. Use of future contracts
Physical risks in production can be avoided by using all of these methods except:
A. Specialization
B. Crop Insurance
C. Diversification
D. Use of future contracts
Time utility
“A frozen meat for later use” creates what type of utility.
form utility
food processors and manufactures create what kind of utility.
possession utility
retailers such as supermarkets, grocery stores, convenience stores, and specialty stores create what kind of utility.
Cash payment, tax reduction, and crop insurance discount
three ways the government provides subsidies to farmers.
Using crop insurance
A way a farmer can avoid physical risks
Using future contracts
a way farmers can avoid market risks.
A speculative middleman
a middleman who buys and sells goods with the intention of making profit from the short-term price fluctuations is called?
The division of labor
The organization of “Subway” where one employee takes the customer’s order, another prepares the bread, another wraps the bread, and another cashes the money is an example of what concept we discussed in class?
A. Because they add value to the food products.
Why are there so many marketing functions in the food system?
A. Because they add value to the food product
B. Because it is a way for the middlemen to make money
C. Because they are inexpensive to perform.
D. All of the above
B. Processors and manufactures.
Which middlemen come before the wholesalers and warehouses in the flow of the food in the marketing system?
A. Assemblers and brokers
B. Processors and manufacturers
C. Producers
D.Retailers
D. All of the above
Facilitative organizations such as the fruit auctions and grain exchanges.
A. Provide the physical facilities for the handling of the products
B. Establish the hours of trading the terms of sale
C. Help in grading and arranging and transmitting payment.
D. All of the above
D. Consumers
All of these market participants are called middlemen except:
A. Assemblers
B. Brokers
C. Wholesales
D. Consumers
E. Processors and manufacturers.
False
T/F Micromarketing focuses on the big picture of the food marketing.
True
T/F You can eliminate the middlemen but cannot eliminate the marketing functions.
True
T/F The financing function involves the use of money to carry on the marketing activities
False
T/F The theory “the Invisible hand” of Adam Smith states that the government should intervene in the market at any time.
False
T/F Macro marketing involves individual decision makers in the food industry.
False
T/F One characteristic of the marketing functions is they can only be performed by the middleman.
True
T/F Another characteristic of the marketing functions is they affect the cost of marketing food as well as the values of food products to consumers.
False
T/F Another characteristic of the marketing function is they can be eliminated as long as they lead to high costs.
False
T/F On-farm activities are not part of the food marketing system.
False
T/F The merchant middlemen (i.e. Wholesalers and retailers) do not take title to the food products that they buy and sell. In another word, they do not own the product.
False
T/F The agent middlemen (i.e. Wholesalers and retailers) take title to the food products that they buy and sell. In another word, they own the product.
True
T/F Providing crop insurance is one way for the government to subsidize agriculture.
False
T/F A perishable product is often less costly to market than a less perishable one.
False
T/F Wholesaling is usually more costly than retailing because retailing involves a lot of advertising.
False
T/F Producers are considered as middlemen
True. One Reason why middlemen are important is they can perform the marketing functions more efficiently than producers.
T/F One Reason why middlemen are important is they can perform the marketing functions more efficiently than producers.