Those Activities That Focus on Getting the Right Amount of the Right

question 255

Multiple Choice

Those activities that focus on getting the right amount of the right products to the right place at the right time at the lowest possible cost are referred to as

• A)strategic distribution.
• B)distribution management.
• C)tactical marketing planning.
• D)value chain optimization.
• E)logistics.

---

Definitions:

Market Wage Rate

The prevailing rate of pay for specific jobs in the labor market, determined by supply and demand for labor in that field.

Profit-maximizing

The method a company employs to identify the price and production volume that maximizes profit.

Pure Monopolist

A market status where a single seller dominates the market with no close substitutes for the product or service offered.

Discriminating Monopolist

A monopolist that charges different prices to different groups of consumers for the same product or service, maximizing profit by exploiting the differences in willingness to pay.