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L4M6 Exam Dumps : Supplier Relationships

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Supplier Relationships Questions and Answers

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Question 1

Which of the following statements are true regarding the characteristics of a restricted market? Select TWO that apply.

    The marketplace is heavily regulated by Governments and legislation

    Existing suppliers within the marketplace offer excellent services

    There are many suppliers already in operation within the marketplace

    High financial investment is required to enter the marketplace

Options:

A.

1 and 2 only

B.

2 and 3 only

C.

1 and 4 only

D.

2 and 4 only

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Question 2

Kinky Boots Ltd provides high heeled shoes in large sizes. Their target market are Drag Queens. There are a couple of rival shoe manufacturers in this market and Kinky Boots Ltd offer the cheapest high heels. What strategy is Kinky Boots Ltd employing in terms of competitive advantage?

Options:

A.

cost leadership

B.

differentiation

C.

cost focus

D.

differentiation focus

Question 3

Fashion buyer Kamal Sumai is working closely with a key overseas supplier and is monitoring and forecasting cost volatility within the fabric market. Kamal has decided it is the right time to raise a purchase order with his supplier for a greater quantity of fabric than he currently needs. Kamal is attempting to avoid an imminent price increase. What is this tactic known as?

Options:

A.

Spot buying

B.

Forward buying

C.

Derivative buying

D.

Hedging buying

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