Marketing chapter 12 & 13

A ________ is a wholesaler-sponsored group of independent retailers that engages in group buying and common merchandising. A) voluntary chain B) retailer cooperative C) franchise D) wholesale club E) warehouse club

A

As discount stores traded up, ________ have filled the ultra low-price, high-volume gap by buying at less-than-regular wholesale prices and charging consumers less than retail. A) off-price retailers B) specialty stores C) convenience stores D) chain stores E) supercenters

A

When the seller allows only certain outlets to carry its products, this strategy is called ________. A) exclusive distribution B) subjective dealing C) selective distribution D) exclusive pricing E) disintermediation

A

Which of the following is a type of flow that connects all institutions in a marketing channel? A) payment flow B) ownership flow C) physical flow D) promotion flow E) information flow

A

Which of the following would be the most logical way for Indiana Wood to expand? A) establishing an online presence B) pursuing retail convergence C) implementing RFID inventory tracking D) establishing a community-gathering environment in the store E) joining a producers' cooperative

A

Which type of wholesaler sells to manufacturers rather than to retailers? A) industrial distributor B) full-service wholesaler C) cash-and-carry wholesaler D) wholesale merchant E) limited-service wholesaler

A

When McDonald's offers its products inside of a Walmart store, it is using a(n) ________. A) conventional marketing system B) corporate VMS C) contractual VMS D) administered VMS E) horizontal marketing system

E

A ________ is a group of retail businesses built on a site that is planned, developed, owned, and managed as a unit. A) warehouse club B) franchise C) shopping center D) supermarket E) hypermarket

C

________ includes all activities involved in selling goods and services to those buying for resale or business use. A) Wholesaling B) Retailing C) Franchising D) Discounting E) Showrooming

A

) Which of the following is a conventional consumer marketing channel? A) producer to business distributor to end consumer B) producer to wholesaler to retailer to end consumer C) producer to end consumer to business customer D) producer to retailer E) producer to business distributor to business customer

B

A(n) ________ consists of one or more independent producers, wholesalers, and retailers, each seeking to maximize its own profits, sometimes even at the expense of the system as a whole. A) multitiered supply chain B) conventional distribution channel C) intrinsic market matrix D) resource bank E) product platform

B

From the economic system's point of view, the role of ________ is to transform the assortments of products made by producers into the assortments wanted by consumers. A) upstream partners B) marketing intermediaries C) third-party logistics D) price consultants E) factory supervisors

B

In-store demonstrations, displays, sales, and loyalty programs are examples of ________. A) direct marketing B) sales promotion C) public relations D) personal selling E) affinity marketing

B

Retail online sites, mobile apps, and social media influence ________. A) overall retail sales B) in-store buying C) the number of likes and subscribers companies earn D) customers and their followers E) the number of products a company manufactures

B

Reusing, recycling, refurbishing, or disposing of broken, unwanted, or excess products returned by consumers or resellers is known as ________. A) cross merchandising B) reverse logistics C) disintermediation D) diverse logistics E) inbound logistics

B

The term supply chain is considered limited because it ________. A) ignores the make-and-sell aspect of the market B) suggests that planning begins with raw materials and factory capacity C) takes a step-by-step, linear view of purchase-production-consumption activities D) takes a sense-and-respond view of the market E) suggests that planning starts with identifying the needs of target customers

B

Which of the following questions is NOT of major concern regarding marketing channels? A) What role do physical distribution and supply chain management plan in attracting and satisfying customers? B) What impact do marketing channels have on the profitability of the firm and its partners? C) How do channel firms interact and organize to do the work of the channel? D) What problems do companies face in designing and managing their channels? E) What is the nature of marketing channels, and why are they important?

B

Which of the following terms best describes a large, low-cost, low-margin, high-volume, self-service store that carries a wide variety of grocery and household products? A) convenience store B) supermarket C) specialty store D) warehouse club E) factory outlet

B

Which type of store carries a wide variety of product lines and has been squeezed in recent years between more focused and flexible specialty stores on the one hand and more efficient, lower-priced discounters on the other? A) warehouse clubs B) department store C) factory outlet D) merchant wholesaler E) category specialist

B

________ are complex behavioral systems in which people and companies interact to accomplish individual, company, and channel goals. A) Customer relationship management systems B) Distribution channels C) Partner relationship systems D) Consumer bases E) Buying centers

B

________ are huge unenclosed shopping centers consisting of a long strip of retail stores, including at least one large, freestanding anchor store like Walmart. Each store has its own entrance with parking directly in front for shoppers who wish to visit only one store. A) Shopping malls B) Power centers C) Superstores D) Chain stores E) Regional shopping centers

B

________ management is the logistics concept that emphasizes teamwork—both inside the company and among all the marketing channel organizations—to maximize the performance of the entire distribution system. A) Logistics inventory B) Integrated logistics C) Logistics information D) Independent logistics E) Group logistics

B

Distribution channel decisions frequently require long-term commitments between firms. A primary reason is that ________. A) advertising is not easy to change B) old products are difficult to discard and new products are difficult to introduce C) when they set up distribution through franchisees, independent dealers, or large retailers, they cannot readily replace these channels with company-owned stores or Internet sites if conditions change D) changing the manufacturing requirements is expensive and takes significant time E) management does not want to be constantly changing the method of selling and distributing its products

C

Roland is the logistics manager of Giant Beanstalks. Which of the following is NOT an area of responsibility for him? A) the transportation of the canned vegetables to Greenleaf B) the storage of the unprocessed vegetables C) the advertising of the final product D) product inventory management E) the packaging of the final product

C

The company's channel objectives are influenced by all of the following EXCEPT ________. A) the company's marketing intermediaries B) the company's competitors C) the age of the company D) the nature of the company E) the company's products

C

The term demand chain is considered limited because it ________. A) advocates a make-and-sell view of the market that relies on a responsive supply network B) suggests that planning starts with raw materials, productive inputs, and factory capacity C) takes a step-by-step, linear view of purchase-production-consumption activities D) ignores the evolution of the global marketplace E) overlooks the needs of target customers

C

Which of the following is most likely a manufacturer-sponsored retailer franchise system? A) international fast food chains like McDonald's and Pizza Hut B) Starbucks outlets operating within Target stores C) Toyota and its network of independent franchised dealers D) licensed bottlers that bottle and sell soft drinks to retailers E) hotel chains like the Ritz Carlton and Shangri-La

C

A ________ contains from 50 to 100 stores, is like a covered mini-downtown, and attracts customers from a wide area. A) community shopping center B) neighborhood shopping center C) central business district D) regional shopping center E) strip mall

D

A(n) ________ marketing system consists of producers, wholesalers, and retailers acting as a unified system. A) horizontal B) communal C) multitiered D) vertical E) equilateral

D

Changes to service differentiation include all of the following EXCEPT ________. A) smarter customers B) decreased services at department stores C) more price-sensitive consumers D) customers' willingness to pay more for identical brands E) increased services from discounters

D

Producing a product or service and making it available to buyers requires building relationships not only with customers but also with key suppliers and resellers in the company's ________. A) upstream partnerships B) marketing channels C) inventory providers D) supply chain E) downstream partnerships

D

The online and mobile equivalent of a pop-up store is ________. A) door buster deals B) Black Friday specials C) high-low pricing D) flash sales sites E) everyday low pricing

D

Until retailers ________ their markets, they cannot make consistent decisions about product assortment, services, pricing, or advertising. A) create B) communicate with C) divide up D) define and profile E) design products for Answer: D

D

Which of the following is NOT a type of off-price retailer? A) independent B) factory outlet C) warehouse club D) category killer E) wholesale club

D

Which of the following is NOT one of a wholesaler's channel functions? A) financing B) risk bearing C) transportation D) off-price retailing E) bulk breaking

D

Which of the following is the most effective way for a company to ship bulky, nonperishable products if its key requirement is low price? A) pipelines B) air transport C) trucks D) water carriers E) piggyback

D

Which of the following wholesaler's channel functions is demonstrated when a wholesaler holds inventories and thereby reduces inventory holding costs and risks of suppliers and customers? A) financing B) transporting C) buying and assortment building D) warehousing E) bulk breaking

D

________ are retailers that offer sales assistance because they carry more shopping goods about which customers might need information. A) Self-service retailers B) Full-service retailers C) Off-price retailers D) Limited-service retailers E) Specialty-service retailers

D

________ is known as the merging of consumers, products, prices, and retailers. A) Retail conglomeration B) Consumer convergence C) Price merging D) Retail convergence E) Retail clustering

D

________ were the main form of retail clusters until the 1950s. A) Strip malls B) Discount stores C) Independent off-price retailers D) Central business districts E) Regional shopping malls

D

T/F Retailers first must position themselves in a market and then decide how they will define the target customers in these markets.

False

T/F The life cycle of new retail forms is getting longer.

False

T/F The role of marketing intermediaries is to transform the assortments of products made by retailers into the assortments wanted by producers.

False