Kolokwium 1

Question 0

Any of the pieces or parts that make up a product or machine

Answer 0

A component

Question 1

Company’s reserves of raw materials, parts, work in progress, and finished products

Answer 1

Inventory

Question 2

The maximum rate of output that can be achieved from a production process

Answer 2

Capacity

Question 3

A collective word for all the buildings, machines, equipment and other facilities used in the production process

Answer 3

Plant

Question 4

The geographical situation of a factory or other facility

Answer 4

Location

Question 5

A network of organizations involved in producing and delivering goods or a service

Answer 5

Supply chain

Question 6

Means buying products or processed materials from other companies rather than manufacturing them

Answer 6

Outsourcing

Question 7

The cost saving arising from large-scale production

Answer 7

Economies of scale

Question 9

The time needed to perform an activity such as manufacturing a product or delivering it to a customer

Answer 9

Lead time

Question 10

able to move quickly and easily

Answer 10

agile

Question 11

correct, exact, and without any mistakes

Answer 11

accurate

Question 12

a statement of what is expected to happen in the future

Answer 12

forecast

Question 13

a guess of what the size or amount of sth might be

Answer 13

estimate

Question 14

done with the hands

Answer 14

manual

Question 15

to fill sth up again

Answer 15

replenish

Question 16

(of production) using small quantities and avoiding any waste

Answer 16

logistics

Question 17

customers who buy various competing products rather than being loyal to a particular brand

Answer 17

brand switchers

Question 18

the sales of a company expressed as a percentage of total sales in a given market

Answer 18

market share

Question 19

surface in a store on which gods are displayed

Answer 19

shelves

Question 20

the extent to which consumers are aware of a brand and know its name

Answer 20

recognition

Question 21

wrappers and containers used to enclose and protect a product

Answer 21

packaging

Question 22

a graphic image or symbol specially created to identify a company or a product

Answer 22

logo

Question 23

businesses that sell goods or merchandise to individual consumers

Answer 23

retailers

Question 24

all the different products, brands and items that a company sells

Answer 24

product mixes

Question 25

all the companies or individuals ("middlemen") involved in moving goods or services from producers to consumers

Answer 25

distribution channel

Question 26

dividing a market into distinct groups of buyers who have different requirements or buying habits

Answer 26

market segmentation

Question 27

making a product appear to be different from similar products offered by other sellers, by product differences, advertising, packaging

Answer 27

product differentation

Question 28

possibilities of filling unsatisfied needs in sectors in which a company can profitably produce goods or services

Answer 28

market opportunities

Question 29

setting a high price for a new product, to make maximum revenue before competing products appear on the market

Answer 29

market skimming

Question 30

someone who contacts existing and potential customers, and tries to persuade them to buy goods

Answer 30

sales representatives

Question 31

an intermediary that stocks manufacturers; goods or merchandise, and sells it to retailers and professional buyers

Answer 31

wholesaler

Question 32

the attributes or characteristics of a product, such as size, shape, quality, price, reliability

Answer 32

product features

Question 33

the extent to which supply or demand of a product responds to change of price

Answer 33

price elasticity

Question 34

the strategy of setting a low price to try to sell a large volume and increase market share

Answer 34

market penetration

Question 35

The Dell's Theory of Conflict Prevention

Answer 35

no two countries that are part of a global supply chain will ever fight against each another; people don't want to make old-time wars; they want to make on time deliveries and enjoy rising standards of living; being part of global supply chain is like striking oil that never runs out; dropping from such a chain by starting a war is like having your oil wells go dry

Question 36

Push strategies

Answer 36

Production is based on estimates of future demand, and begins according to the planned production lead time

Question 37

Pull strategies

Answer 37

A company manufactures according to current demand, which is satisfied from (a small) inventory. When pieces are removed from stock, replacements are automatically ordered from suppliers

Question 38

Kanban system

Answer 38

Signal that items need to be replaced

Question 39

Wal-Mart symphony

Answer 39

When a customer takes a product from their shelf and the cashier scan it, the supplier automatically gets a signal that the product has to be replaced

Question 40

Quality is free

Answer 40

Products should be made properly in the first time. In other way, the company has to spend many on many quality- related costs and it's detrimental for their reputation

Question 41

Total Quality Managment (TQM)

Answer 41

An attitude to provide customers with products and services that satisfy their needs. TQM requires all staff to be involved in the search for the continuously improving quality.

Question 42

Product line, product mixes

Answer 42

Product is everything that can be offered to a market. Manufacturers divide their products into product lines- groups of closely related products, sold to the same customer group

Question 43

Branding

Answer 43

Companies use logos, symbols to make consumers remember product or service. Key of branding is to create a relationship of trust. Brand should me more than just a product or service; it should also be some kind of lifestyle and way of living

Question 44

Branding strategies

Answer 44

Some brands give various names to the companies they manage. So on the market there is a variety of products but all in all profits go to the same brand

Question 45

Brand value

Answer 45

It might be, and often is bigger than its books.

Question 46

Henry Ford

Answer 46

Modern production life; paid huge salaries to his employees- everyone of them could afford a car; a manufacturer was a king and he decided about his products; the real goal of marketing is to own the market; smart marketing means defining the whole pie as yours; marketing is everything and everything is marketing

Question 47

Guarantees; written promises to repair or replace products that develop a fault

Answer 47

Warranties

Question 48

Getting rid of things which are no longer useful or wanted

Answer 48

Scrapping

Question 49

Providing a large amount of good things

Answer 49

Bountiful

Question 50

Things that cause difficulties

Answer 50

Headaches

Question 51

Official rules or act of controlling sth

Answer 51

Regulation

Question 52

Changing or improving a product or service

Answer 52

Reworking

Question 53

To examine a machine and repair any faulty parts

Answer 53

Service