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Marketing
Q:
What are some specific cost trade-offs that can be made in a logistics system?
Q:
Figure 1.
Figure 1. above depicts the four most common marketing channels for business products and services. "Y" represents
a. consumers.
b. industrial users.
c. dual distributors.
d. agents or brokers.
e. industrial distributors.
Q:
What specific decision areas are associated with the flow of goods and together make up total logistics cost?
Q:
Figure 1.
Figure 1. above depicts the four most common marketing channels for business products and services. "X" represents
a. consumers.
b. industrial users.
c. dual distributors.
d. agents or brokers.
e. industrial distributors.
Q:
What are the three steps used in choosing a supply chain?
Q:
International Products, a Burlington, New Jersey, firm that sells industrial cleansers and lubricants wanted to sell its product to factories, hospitals, and labs in China, but it did not have the necessary expertise. As a result, International Products hired Asia Marketing & Management to sell, stock, and deliver a full assortment of products to the Chinese market. Asia Marketing & Management is an example of a(n) __________.
a. agent
b. wholesaler
c. global agent
d. retailer
e. industrial distributor
Q:
Briefly explain the differences between the terms supply chain management and the marketing channel.
Q:
Industrial distributors perform functions that are most like which intermediary in the consumer goods marketing channel?
a. manufacturers
b. retailers
c. agents
d. wholesalers
e. brokers
Q:
What is a channel captain? What is its function when there is channel conflict?
Q:
An industrial distributor refers to
a. an intermediary that performs a variety of marketing channel functions involving selling, stocking, delivering a full product assortment, and financing.
b. an intermediary that maintains its own salesforce and performs all channel functions.
c. an intermediary that deals exclusively with the selling, stocking, and delivery of raw materials used by manufacturers in the production of its products.
d. an intermediary that deals with a single product line within a single industry.
e. an intermediary that performs functions involving selling, stocking, and delivery of industrial goods but is unable to provide financing due to the normally large expenditures.
Q:
Channels are typically designed to satisfy one or more of four consumer interests. What are they and why are they important?
Q:
In marketing channels for business products, an intermediary that performs a variety of marketing channel functions including selling, stocking, delivering a full product assortment, and financing is referred to as a(n) ___________.
a. agent
b. industrial distributor
c. wholesaler
d. retailer
e. channel captain
Q:
What are the three questions marketing executives consider when choosing a marketing channel and intermediaries?
Q:
A small electronics company manufactures a line of low- to moderate-quality stereo components that are distributed through wholesalers to mass-market retailers such as Walmart. The electronics company has begun production of a small line of high-quality, professional studio-model components. How should the small electronics company best distribute its new products?
a. use its established indirect marketing channel
b. distribute directly to mass market consumers
c. distribute through agents who sell to specialty electronics stores that will feature the new line
d. sell directly to specialty electronics stores that will feature the new line
e. establish its own chain of electronics retail stores
Q:
There are four types of franchising arrangements. List the systems and provide a brief description of each.
Q:
The most indirect marketing channel is employed where many small manufacturers and many small retailers and other intermediaries are used to help coordinate a large supply of the product. This channel is represented in Channel "D" in Figure 1. above. Which of the following products would most likely be marketed using this kind of channel?
a. dental services
b. automobiles
c. pool supplies
d. rugs made in India
e. candy bars
Q:
There are three types of contractual vertical marketing systems (VMS). List the systems and provide a brief description of each.
Q:
Figure 1.
Figure 1. above depicts four common marketing channels for consumer products and services that differ by the kind and number of intermediaries. Channel "C" would be an appropriate marketing channel for __________.
a. candy bars
b. automobiles
c. car insurance
d. dental services
e. tickets to a rock concert
Q:
List and define the three major types of vertical marketing systems.
Q:
Figure 1.
Figure 1. above depicts four common marketing channels for consumer products and services that differ by the kind and number of intermediaries. Channel "B" would be an appropriate marketing channel for which of the following?
a. insurance products
b. direct-to-home food products
c. automobiles
d. construction machinery
e. candy
Q:
Cereal Partners Worldwide (CPW) Cheerios Photo
The photo above shows a Cheerios box that carries the Nestl name rather than the familiar General Mills brand name. Explain the channel that is being used and the importance of Cereal Partners Worldwide (CPW).
Q:
Figure 1.
Figure 1. above depicts four common marketing channels for consumer products and services that differ by the kind and number of intermediaries. Channel "A" would be an appropriate marketing channel for which of the following?
a. automobiles
b. jewelry
c. construction machinery
d. candy
e. insurance products
Q:
Define and describe at least one similarity and one difference between dual distribution and a strategic channel alliance.
Q:
Figure 1.
Figure 1. above depicts the four most common marketing channels for consumer products and services. "Z" represents
a. consumers.
b. industrial users.
c. wholesalers.
d. agents or brokers.
e. retailers.
Q:
With respect to consumer product and service marketing channels, what are the key differences between a direct and an indirect channel?
Q:
Figure 1.
Figure 1. above depicts the four most common marketing channels for consumer products and services. "Y" represents
a. consumers.
b. industrial users.
c. wholesalers.
d. agents or brokers.
e. retailers.
Q:
What are the utilities created by marketing intermediaries? How do intermediaries create these utilities?
Q:
Figure 1.
Figure 1. above depicts the four most common marketing channels for consumer products and services. "X" represents
a. consumers.
b. industrial users.
c. wholesalers.
d. agents or brokers.
e. retailers.
Q:
What are the functions performed by intermediaries?
Q:
Figure 1.
Figure 1. above depicts the four most common marketing channels for consumer products and services. "W" represents
a. consumers.
b. industrial users.
c. wholesalers.
d. agents or brokers.
e. retailers.
Q:
What is a marketing channel? Define each of the four types of marketing channels.
Q:
The most indirect channel for consumer products incorporates agents, wholesalers, and retailers and is most commonly used when there
a. are only a few large manufacturers but many small retailers.
b. are low-cost, low unit volume goods.
c. is too large an inventory to be carried by wholesalers.
d. are many small manufacturers and many small retailers.
e. are many manufacturers with a limited inventory competing for a small group of retailers.
Q:
Amazon uses supply chain and logistics management to
a. make sure that it maintains the authority that comes with being the channel captain.
b. avoid having to use quick response replenishment.
c. manage the flow of customer orders from the distribution centers to individual's homes.
d. lessen the amount of communication that is necessary between it and its suppliers.
e. implement its market divestment strategies.
Q:
A commonly used indirect channel moves product from producer to retailer to consumer. This channel is used when
a. the cost of maintaining inventory is low.
b. the cost of inventory makes it too expensive to use a wholesaler.
c. there is little if any seasonal demand.
d. the risk lies solely with the manufacturer.
e. the retail outlets are regionally located.
Q:
Amazon uses supply chain and logistics management to
a. make sure that it maintains the authority that comes with being the channel captain.
b. avoid having to use quick response replenishment.
c. lessen the amount of communication that is necessary between it and its suppliers.
d. manage the flow of products from its suppliers to its distribution centers.
e. implement its market divestment strategies.
Q:
A commonly used indirect channel moves product from producer to retailer to consumer. This channel is used when
a. the retail outlets are regionally located.
b. the cost of maintaining inventory is low.
c. there is little if any seasonal demand.
d. the risk lies solely with the manufacturer.
e. the retailer is large and can buy in large quantities from a producer.
Q:
One of the sales growth strategies Amazon considered early on is __________.
a. sales of books
b. sales of consulting services
c. sales of original paintings and wall art
d. selling Amazon's distribution centers
e. sales of greeting cards and invitations
Q:
Indirect channels for consumer products
a. occur when one firm's marketing channels are used to sell another firm's products.
b. include producers and end-users dealing directly with each other.
c. include intermediaries that are between the producer and consumer and perform numerous channel functions.
d. are arrangements whereby a firm reaches different buyers by employing two or more different types of channels for the same basic product.
e. occurs when a retailer sells its product in a store and on the Internet.
Q:
Hewlett-Packard is taking a proactive role in reducing the amount of electronic merchandise dumped in landfills by using __________ to reclaim recyclable and reusable materials.
a. reverse materials handling
b. reverse logistics
c. cause-related marketing
d. vendor-managed inventory
e. materials transformation
Q:
A channel that includes intermediaries that are between the producer and consumer and perform numerous channel functions is referred to as a(n)
a. indirect channel.
b. direct channel.
c. multilevel channel.
d. full-service channel.
e. limited-service channel
Q:
Butler-McDonald, an Indianapolis firm, recycles outdated computers to reclaim reusable materials such as plastics, copper, zinc, silver, and gold. Butler-McDonald is implementing
a. salvage marketing.
b. materials transformation.
c. reverse materials handling.
d. reverse logistics.
e. cause-related marketing.
Q:
In an episode of the Glee television series, members of the glee club sold home-baked cupcakes at school to raise money. The students selling their cupcakes without any intermediary would be an example of a(n)
a. personalized distribution.
b. non-permanent distribution.
c. informal channel of distribution.
d. direct channel of distribution.
e. indirect channel of distribution.
Q:
Reverse logistics refers to
a. the collection of used goods donated from to nonprofit organizations by ultimate consumers to be restored, cleaned, repaired, and resold back to ultimate consumers.
b. deconstructing products that failed to pass quality inspection standards on the production line and reusing workable parts instead of throwing out the entire unit.
c. the process of reclaiming recyclable and reusable materials, returns, and reworks from the point-of-consumption or use for repair, remanufacturing, redistribution, or disposal.
d. organizing a cost-effective flow of raw materials, in-process inventory, finished goods, and related information from point of origin to point of consumption to satisfy customer requirements.
e. the donation of old or broken automobiles to nonprofit organizations that can be recycled or turned into scrap with the profits applied to the organization's operating expenses.
Q:
Schwan's Sales Enterprises of Marshall, Minnesota, markets a full line of frozen foods in 49 states and parts of Canada using door-to-door salespeople who sell from its refrigerated trucks. This particular method of distribution is referred to as a(n)
a. indirect channel.
b. direct channel.
c. facilitated channel.
d. customer-service channel.
e. truck-jobber channel.
Q:
The process of reclaiming recyclable and reusable materials, returns, and reworks from the point-of-consumption or use for repair, remanufacturing, redistribution, or disposal is referred to as
a. salvage marketing.
b. materials transformation.
c. reverse materials handling.
d. reverse logistics.
e. cause-related marketing.
Q:
When Dell Computer sells made-to-order PCs to customers online via its website, it is an example of which type of marketing channel?
a. indirect channel
b. strategic channel alliances
c. marketing channel
d. dual distributive channel
e. direct channel
Q:
At the end of a recent year, Solectron, a big Milpitas, California, electronics contractor, made half of its purchases under vendor-managed inventory programs. Solectron
a. had its suppliers perform all materials handing activities.
b. authorized its suppliers to eliminate as many wholesaling functions as possible from the supply chain.
c. used a system in which its suppliers determined the product amount and assortment that should be in stock.
d. authorized the use of distribution centers to provide quicker customer response times.
e. balanced its total logistics cost by eliminating the convenience service factor.
Q:
In a direct channel, all channel functions are performed by __________.
a. retailers
b. wholesalers
c. producers
d. brokers and agents
e. middlemen
Q:
A vendor-managed inventory system refers to an
a. inventory supply system that operates with very low inventories and requires fast on-time delivery.
b. inventory management system whereby the supplier determines the product amount and assortment a retailer needs and automatically delivers the appropriate items.
c. inventory management system that is designed to reduce the retailer's lead time for receiving merchandise, which then lowers a retailer's inventory investment, improves customer service levels, and reduces logistic expenses.
d. inventory supply system that relies on the "judgment" of individual warehouse managers based on daily reports from its retailer customers.
e. inventory system that guarantees delivery within 48 hours, and grants price reductions of 1 percent per hour if a shipment is delayed.
Q:
A direct channel is when
a. producers and end-users deal with each other on a one-on-one basis.
b. the producer and consumer and perform numerous channel functions.
c. a firm reaches different buyers by employing two or more different types of channels for the same basic product.
d. an intermediary sells to other intermediaries, usually to retailers in consumer markets.
e. an agent or broker brings ultimate consumers to manufacturers.
Q:
An inventory-management system whereby the supplier determines the product amount and assortment a retailer needs and automatically delivers the appropriate items is referred to as __________.
a. supplier-managed inventory
b. supply chain inventory
c. logistics-managed inventory
d. just-in-time inventory management
e. vendor-managed inventory
Q:
When producers and ultimate consumers deal with each other one-on-one, it is referred to as a(n)
a. strategic channel alliance.
b. marketing channel.
c. direct channel.
d. indirect channel.
e. dual distribution channel.
Q:
Convenience refers to the concept that
a. there should be a minimum of effort on the part of the buyer in doing business with the seller.
b. all products or services should be available 24 hours a day, 7 days a week, and 365 days a year.
c. all tasks required to make an exchange are the sole responsibility of the seller.
d. an exchange requires equal effort by both the buyer and seller.
e. all logistical services are provided by a supplier network.
Q:
A(n) __________ exists when producers and ultimate consumers deal one-on-one with each other.
a. strategic channel alliance
b. direct channel
c. marketing channel
d. indirect channel
e. dual distribution channel
Q:
Which of the following statements regarding communication is most accurate?
a. Communication as a function of customer service refers to oral rather than written exchange of information.
b. Communication as a function of customer service refers to written rather than oral exchange of information.
c. Communication as a function of customer service refers exclusively to exchanges between the retailer and the ultimate consumer.
d. There should be little if any communication between an ultimate consumer and the manufacturer.
e. Improvement in transportation carrier information has improved the ability to trace information and schedule shipments.
Q:
As the number of intermediaries between a producer and buyer increases, the channel is viewed as increasing in __________.
a. variety
b. scope
c. depth
d. scale
e. length
Q:
A two-way link between buyer and seller that helps in monitoring service and anticipating future needs is referred to as
a. honesty.
b. reliability.
c. communication.
d. being well-informed.
e. accountability.
Q:
An example of __________ utility involves intermediaries shipping goods to buyers of a product.
a. time
b. form
c. place
d. possession
e. transactional
Q:
Dependability is the consistency of replenishment. This is important to all firms in a supply chain and to consumers. It can be broken into three elements: consistent lead time, safe delivery, and __________.
a. complete delivery
b. honest and accurate pricing
c. quality products
d. product warranties
e. a well-informed delivery staff
Q:
A textile artist can buy fabric, thread, and batting, create an heirloom quilt, and then sell the finished work to customers in a kiosk decorated with some of the quilts produced to entice customers who shop at the local strip mall. By designing the quilts and kiosk with aesthetic value, the artist creates __________ utility.
a. application
b. possession
c. time
d. place
e. form
Q:
Dependability is the consistency of replenishment. This is important to all firms in a supply chain and to consumers. It can be broken into three elements: consistent lead time, complete delivery, and __________.
a. honest and accurate pricing
b. quality products
c. a well-informed delivery staff
d. product warranties
e. safe delivery
Q:
Enhancing a product or service to make it more appealing to buyers is __________ utility.
a. time
b. place
c. possession
d. form
e. transactional
Q:
Dependability is the consistency of replenishment. This is important to all firms in a supply chain and to consumers. It can be broken into three elements: safe delivery, complete delivery, and __________.
a. honest and accurate pricing
b. quality products
c. consistent lead time
d. a well-informed delivery staff
e. product warranties
Q:
Having a product or service where consumers want it is __________ utility.
a. form
b. place
c. time
d. possession
e. transactional
Q:
Another name for efficient consumer response systems is __________.
a. customer logistics factors
b. order replenishment systems
c. minimum-inventory systems
d. quick response systems
e. web-based response systems
Q:
A snack vending machine located in a university building that students use between classes when hungry creates both __________ utility.
a. time and place
b. place and form
c. form and creation
d. possession and form
e. application and place
Q:
Another name for quick response systems is __________.
a. order replenishment systems
b. customer logistics factors
c. minimum-inventory systems
d. web-based response systems
e. efficient consumer response systems
Q:
Marketing channels help create value for consumers through four utilities. These utilities are
a. product, price, promotion, and place.
b. form, function, risk taking, and selling.
c. time, place, form, and possession.
d. transactional, logistical, facilitating, and marketing.
e. buying, selling, storing, and transporting.
Q:
Inventory management systems that are designed to reduce the retailer's lead time for receiving merchandise, which then lowers its inventory investment, improves customer service levels, and reduces logistic expenses is referred to as __________.
a. efficient consumer response systems
b. order replenishment systems
c. customer logistics factors
d. minimum-inventory systems
e. web-based response systems
Q:
Before consumers see a movie, it is assigned a rating such as G or PG based on its language and content. This rating system is most closely related to which facilitating function activity performed by marketing intermediaries?
a. grading
b. sorting
c. risk taking
d. marketing
e. assorting
Q:
An efficient consumer response system refers to
a. an order replenishment system that maintains a 10 percent inventory rate at all times in order to guarantee there will never be stockouts.
b. an online virtual inventory storage program that allows firms to enter in minute-by-minute information in order to avoid stockouts due to unforeseen environmental forces.
c. a computer program that allows even the smallest manufacturer to manage its inventory system.
d. an inventory management system that is designed to reduce the retailer's lead time for receiving merchandise, which then lowers its inventory investment, improves customer service levels, and reduces logistics expense.
e. an exclusive contractual agreement between delivery services such as FedEx or UPS to deliver expedited orders at a special low rate, regardless of the day and time.
Q:
Inspecting, testing, or judging products and assigning them quality grades would be an example of a __________ function.
a. transactional
b. logistical
c. storing
d. facilitating
e. risk taking
Q:
Inventory management systems that are designed to reduce the retailer's lead time for receiving merchandise, which then lower a retailer's inventory investment, improve customer service levels, and reduce logistics expense are referred to as
a. order replenishment systems.
b. quick response systems.
c. customer logistics factors.
d. minimum-inventory systems.
e. web-based response systems.
Q:
Extending credit to customers would be an example of a __________ function.
a. transactional
b. logistical
c. facilitating
d. buying
e. risk taking
Q:
The Limited employs a quick response system to order fast-moving fashion items. The Limited's point-of-sale scanner records each sale. When stock falls below a minimum level, the system automatically sends an electronic order to the manufacturer, which processes the order immediately. This system has effectively reduced
a. dependability.
b. product flow.
c. replenishment time.
d. supply lag.
e. logistical lag.
Q:
Intermediaries perform facilitating function activities, which assist producers in making goods and services more attractive to buyers. These activities include
a. producing, assembling, and distributing.
b. transportation and distribution.
c. buying, selling, and risk taking.
d. assorting, sorting, and storing.
e. financing, grading, and marketing information and research.
Q:
The typical order cycle include all of the following elements EXCEPT:
a. order processing.
b. transportation.
c. stockout reports.
d. documentation.
e. order transmittal.
Q:
In terms of distribution, when marketing channel members are engaged in financing, grading, and marketing information and research, they are performing the __________ function.
a. logistical
b. transformational
c. implementing
d. facilitating
e. transactional
Q:
Replenishment time refers to
a. the time lag from the inception of an idea until its initial commercialization.
b. the time lag from ordering an item until it is received and ready for use or sale.
c. the time between the commercialization of a product and general acceptance of the product as no longer "new."
d. the time lag between a new product entering the market and the market entry of the product's first competitor.
e. the time between when a new product is first promoted to its target market and when the product actually comes to the marketplace.
Q:
Facilitating function activities include
a. buying and selling.
b. assorting, sorting, and storing.
c. financing, grading, and marketing information and research.
d. risk taking.
e. transportation.