Marketing Exam 2 Review Chapter 10&11

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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


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