Marketing Exam 2 Review Chapter 10&11
Which of the following sets of characteristics correctly classifies retailers?
Amount of service offered, the breadth and depth of product lines, relative prices they charge, and how they are organized
What are the four steps to designing marketing channels, in the correct order?
Analyzing consumer needs, setting channel objectives, identifying major channel alternatives, and evaluating the alternatives
Many small grocers cannot afford to buy great volumes of products for their shelves. They often order less than whole cases of product because for some product categories, the stock takes time to sell and they do not have the space to store the excess product (shelf or stockroom). The idea that a wholesaler will sell the small grocers individual quantities (less than a case) is performing which function?
Bulk Breaking
__________________ are often described as giant specialty stores characterized by immense size and deep assortments of merchandise.
Category killers
Which of the following represents the four major classifications of retail organizations?
Corporate chains, voluntary chains, retailer cooperatives, and franchise organizations
What is the overall goal when retailers choose their product assortment?
Differentiate the retailer while matching target shoppers' expectations
Which of the following recognizes that improved logistics mandates teamwork across the company and the entire supply chain?
Integrated supply chain management
Which of the following is a reason that producers use marketing channels and channel intermediaries?
Marketing channel members are able to transform the assortments of products made by producers into the assortments wanted by consumers.
The Ouleot Creek Sheep Farm is located Western Maryland and harvests wool from their sheep herd twice a year. The wool is bagged and taken to a distributor, where it's graded and then sold off to clients who will make/create various garments, household products, etc. Of the choices listed, which of the following best describes how the distributor adds value for the Ouleot Creek Sheep Farm VMS?
Matching
Which utility for distribution should be focused on more than others when Marketing a Specialty-Type product?
Possession
Which of the following statements is TRUE regarding the selection of qualified channel members?
Producers vary in their ability to attract qualified marketing intermediaries.
Retailers must decide on which three major product variables?
Product assortment, services mix, and store atmosphere
Which of the following statements about retailer marketing decisions is correct?
Retailers identify three critical factors for retail success: location, location, and location.
Which of the following describes the activities that play an important role in connecting brands to consumers in the final phases of the buying process?
Retailing
_______________________ entails managing upstream and downstream value-added flows of materials, final goods, and related information among suppliers, the company, resellers, and final consumers.
Supply chain management
Progressive wholesalers recognize that their only reason for existing is to ____________________.
add value
Which type of channel arrangement is exemplified when large and powerful retailers wield control (often upon producers)?
administered VMS
The number of final intermediary levels in a channel indicates which of the following?
channel length
After segmenting and defining their target markets, retailers must then ____________________.
decide how they will differentiate and position themselves
Marketing logistics addresses not only outbound logistics but also inbound logistics and reverse logistics, which means it ____________________________.
involves the entire supply chain management
Intermediaries are used by most producers to bring products to market. These intermediaries are known as _________________________.
marketing channels
The three major groups of wholesalers are ________.
merchant wholesalers, brokers and agents, and manufacturers' and retailers' branches and offices
Most companies today see their intermediaries as first-line customers and focus on ________ to forge long-term relationships with channel members.
partner relationship management
One of the primary advantages of marketing logistics is __________________.
potentially high cost savings and improved customer satisfaction
During lecture it was discussed that Marketing logistics should, provide a cost savings, variety and choice for consumers, create MIS opportunities and _________________________
provide a competitive advantage
The trend of ________ has resulted in different types of retailers now selling the same products at the same prices to the same consumers.
retail convergence
By performing the channel function of ________, wholesalers' sales forces help manufacturers reach many small customers at a low cost.
selling and promoting
Focusing the entire marketing process toward turning shoppers into buyers as they approach the point of sale is known as ______________________.
shopper marketing
When setting marketing channel objectives, companies should state the objective 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
Companies today see channel members as ______________ and practice strong partner relationship management.
first-line partners
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, exclusive, and selective
The four major functions of marketing logistics are __________________________.
warehousing, inventory management, transportation, and logistics information management
