Chapter 14 Competing in Marketing & Supply Chain Management
_____ is the flow of products, services, finances, and information that passes through a set of entities from a source to the customer.
Supply chain
Which of the following factors leads to excessive bargaining in a supply chain?
Supply chain members of more or less equal standing
According to the VRIO (value, rarity, imitability, organization) criteria, which of the following marketing or supply chain activities must be avoided by companies?
Activities that are followed by other vendors
_____ refers to the ability to change supply chain configurations in response to longer-term changes in the environment and technology.
Adaptability
Which of the following examples best illustrates the effect of informal institutions on marketing and supply chain management?
Fitchell Corp. communicated new quality regulations to its vendors, which in turn changed the quality standard of the material supplied by the vendors to their domestic companies.
In the context of supply chain management, which of the following strategies will ensure success?
Focusing on agility, adaptability, and alignment
In the context of supply chain management, which of the following strategies will help in improving alignment?
Introducing a neutral middleman, like third-party logistics (3PL) providers
In the context of supply chain management, which of the following is true of adaptability?
It can be enhanced by making a series of make-or-buy decisions.
_____ refers to efforts to create, develop, and defend markets that satisfy individual and business customers.
Marketing
Which of the following statements is true of global agnostics?
They are most likely to lead anti-globalization demonstrations.
Which of the following statements is true of standardized promotions?
They reduce the costs incurred by companies for promotional efforts.
In the context of market segmentation, which of the following strategies should be adopted by multinational enterprises to target global agnostics?
They should market localized products and services under local brands.
Jane is a middle-aged woman fond of EpidermaNow's skincare products. These products are produced and marketed globally. EpidermaNow recently released a sun-screen lotion. Despite the lotion's high price and unproven effectiveness, Jane bought the lotion on the day of its release in the market. Given this information, Jane belongs to the segment of _____.
global citizens
Thumb Ink Inc. is a publishing company based in the United States. Its marketing and supply chain activities will add value when:
it switches to online media because they are widely used.
In the context of market segmentation, unlike global citizens, global dreamers:
may not be able to afford, but nevertheless admire, global brands.
Firms that thrive on agile supply chains:
quickly tackle the shocks that come up in supply chain.
In the context of marketing mix, localization can be adopted by:
selling products that appear to be locally adapted.
Which of the following statements is true of a distribution channel?
It traditionally encompasses outbound logistics.
Which of the following is one the components of the marketing mix?
Promotion
John works as a quality analyst at a technological firm. He wanted to buy a mobile phone for his wife. Though he was abreast of the latest mobile phone brands that were introduced in the global market, he bought a phone that was produced and marketed locally. He was skeptical about whether global brands deliver high-quality goods. In the context of market segmentation, it is evident that John falls under the segment of _____.
antiglobals
In the context of marketing mix, the term _____ refers to the expenditures that customers are willing to pay for a product.
price