Understanding The Basics Of The Flooring Industry

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| By Jeffer4205

Jeffer4205

Community Contributor

Quizzes Created: 3 | Total Attempts: 1,405

Questions: 6 | Attempts: 121 | Updated: Mar 26, 2024

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Questions and Answers

1.

What are the three primary ways in which flooring moves from the manufacture to retailer?
- A.
  
  Distributor
- B.
  
  Catalog
- C.
  
  Agent
- D.
  
  Manufacture Direct
- E.
  
  Trucking Company
Correct Answer(s)
C. Agent
D. Manufacture Direct

Explanation
The three primary ways in which flooring moves from the manufacture to retailer are through agents, manufacturer direct, and distributors. Agents act as intermediaries between the manufacturer and retailer, facilitating the sale and distribution process. Manufacturer direct refers to when the manufacturer sells and delivers the flooring directly to the retailer without involving any intermediaries. Distributors are companies that purchase flooring from manufacturers and then sell it to retailers. These three methods ensure that flooring products reach the retailer and ultimately the end consumer efficiently and effectively.

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2.

One of the key differences in shipping carpet vs hard-surface order is the number of accesories, trim, and adhesives that must accompany hard-surface orders?
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

Explanation
The statement is true because when shipping a hard-surface order, there are typically more accessories, trim, and adhesives that need to be included compared to shipping a carpet order. This is because hard-surface materials often require additional components for installation and finishing, such as trim pieces, adhesives for bonding, and accessories like transition strips or underlayment. In contrast, carpet installation usually requires fewer additional items, as the carpet itself is the main component.

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3.

When shipping a smaller hard-surface order LTL, the freight cost can be extremely high, and the speed of delviery could be inconsistent?
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

Explanation
When shipping a smaller hard-surface order LTL (Less Than Truckload), the freight cost can be extremely high due to the fact that the cost is shared among multiple shipments. Additionally, the speed of delivery could be inconsistent because LTL shipments often involve multiple stops and transfers along the way, which can result in delays. Therefore, it is true that when shipping a smaller hard-surface order LTL, the freight cost can be extremely high, and the speed of delivery could be inconsistent.

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4.

There are four primary industry market events each year, what are they?
- A.
  
  Neocon
- B.
  
  ASCAM
- C.
  
  Coverings
- D.
  
  Building & Construction
- E.
  
  Domotex
- F.
  
  Surfaces
Correct Answer(s)
A. Neocon
C. Coverings
E. Domotex
F. Surfaces

Explanation
The given answer lists four industry market events: Neocon, Coverings, Domotex, and Surfaces. These events are considered primary industry market events, which suggests that they are significant and influential in their respective industries. These events likely attract a large number of industry professionals, showcase new products and innovations, and provide networking and business opportunities for participants.

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5.

There are three primary channels within the flooring industry, what are they?
- A.
  
  Retail
- B.
  
  Apartments
- C.
  
  Builder
- D.
  
  Malls
- E.
  
  Commercial
Correct Answer(s)
A. Retail
C. Builder
E. Commercial

Explanation
The three primary channels within the flooring industry are retail, builder, and commercial. Retail refers to the sales of flooring materials to individual customers through stores or online platforms. Builders are involved in the construction industry and purchase flooring materials for new construction or remodeling projects. Commercial refers to the sales of flooring materials to businesses, offices, and other commercial establishments. These channels represent the main avenues through which flooring products are distributed and sold in the industry.

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6.

There is a substantial difference in gross profit margins between doing a markup off cost, vs a gross profit markup
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

Explanation
When doing a markup off cost, the gross profit margin is calculated by subtracting the cost from the selling price and then dividing it by the selling price. On the other hand, when using a gross profit markup, the gross profit margin is calculated by subtracting the cost from the selling price and then dividing it by the cost. The difference lies in the denominator used for the calculation, which leads to a substantial difference in the resulting gross profit margin. Therefore, the statement is true.

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Current Version
Mar 26, 2024

Quiz Edited by
ProProfs Editorial Team
Nov 29, 2012

Quiz Created by
Jeffer4205

Understanding The Basics Of The Flooring Industry

What are the three primary ways in which flooring moves from the manufacture to retailer?

One of the key differences in shipping carpet vs hard-surface order is the number of accesories, trim, and adhesives that must accompany hard-surface orders?

When shipping a smaller hard-surface order LTL, the freight cost can be extremely high, and the speed of delviery could be inconsistent?

There are four primary industry market events each year, what are they?

There are three primary channels within the flooring industry, what are they?

There is a substantial difference in gross profit margins between doing a markup off cost, vs a gross profit markup