MAR255 Exam 2 Chapter 10

What are the four major functions of​ logistics?

​Warehousing, inventory​ management, transportation, logistics information management

​_______ involves​ reusing, recycling,​ refurbishing, or disposing of​ broken, unwanted, or excess products returned by consumers or resellers.

Reverse logistics

What are the four steps to designing marketing channels in their correct​ order?

Setting channel​ objectives, analyzing consumer​ needs, identifying major channel​ alternatives, and evaluating the alternatives

Under which type of system does the customer share​ real-time data on sales and current inventory levels with the​ supplier, and the supplier then takes full responsibility for managing inventories and​ deliveries?

Vendor-managed inventory

Large retailers like Walmart have enormous channel control due to their size and power. Which type of channel arrangement does this​ represent?

administered VMS

What is the first step in marketing channel​ design?

analyze consumer needs

​A(n)_______ is a layer of intermediaries that performs some work in bringing the product and its ownership closer to find the final buyer.

channel level

Which of the following statements is true regarding channel​ organization?

channel members are dependent on each other for the overall success of the channel

​A(n) _____ is made up of one or more independent​ producers, wholesalers,​ retailers, and consumers.

conventional distribution channel

​Sherwin-Williams sells its paint and other branded products exclusively through​ company-owned retail stores.​ Sherwin-Williams has established​ a(n) _________.

corporate VMS

Online marketers taking business from traditional​ brick-and-mortar retailers is an example of​ _____.

disintermediation

Producers of convenience products typically use​ ______ distribution.

intensive

When designing marketing​ channels, companies must determine the number of channel members to use at each level. The three strategies that are available to do this are​ ________ distribution.

intensive, selective, and exclusive

​Full-line forcing is a practice whereby a producer agrees to sell a brand to a dealer only if the dealer agrees to sell some or all of the rest of its line. Which of the following statements is true regarding​ full-line forcing?

it may or may not be legal

Which of the following statements regarding marketing logistics is​ true?

marketing logistics involve inbound logistics, outbound logistics, and reverse logistics

One key function performed by channel members is​ ___________, or shaping offers to meet the​ buyer's needs, including activities such as​ manufacturing, grading,​ assembling, and packaging.

matching

Companies now use​ ________ and supply chain management software to help​ recruit, train,​ organize, manage,​ motivate, and evaluate relationships with channel partners.

partner relationship management

Companies today see channel members as​ first-line customers and practice strong​ ________.

partner relationship management

Which of the following statements is true regarding the selection of qualified channel​ members?

producers vary in their ability to attract qualified channel members

Which technology could one day make the entire supply chain intelligent and​ automated?

radio frequency identification

what is a horizontal channel conflict?

refers to a disagreement among two or more channel members at the same level. For example, suppose a toy manufacturer has deals with two wholesalers, each contracted to sell products to retailers in different regions.

When setting channel​ objectives, companies should state the objectives in terms of​ ______.

targeted levels of customer service

When the company has defined its channel​ objectives, it should next identify its major channel alternatives in terms of the types of​ intermediaries, the number of​ intermediaries, and​ __________________.

the responsibilities of channel members

A​ ________ consists of​ producers, wholesalers, and retailers acting as a unified system.

vertical marketing system

What are the four major functions of marketing​ logistics?

warehousing, inventory management, transportation, and logistics information management

What is the most common type of a contractual​ VMS?

a franchise