MKTG 101 Exam 3 (Ch 10)

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When it comes to price, payment terms, quality, and management style, what is the best choice?

- Price: moderately expensive - Payment Terms: 2% discount if paid in 10 days, due in 45 days - Quality: High - Management Style: Democratic (workers make their own decisions)

Name examples of warehousing, inventory management, transportation, and logistics info management

- Warehousing: distribution center - Inventory Management: stock outs - Transportation: trucking - Logistics Info Management: electronic data interchange (EDI)

What are the 5 key functions of a Marketing Channel?

1) promotion 2) contact 3) matching 4) information 5) negotiation

​_______________________ is an example of horizontal channel conflict

A Subaru dealer complaining that another Subaru dealer is advertising in its territory

Channels often involve​ long-term commitments, and companies have many alternatives. What type of criteria should be used if the company wants to keep the channel flexible so that it can respond to environmental​ changes?

Adaptability criteria

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

Administered VMS

________________________ is the first step in marketing channel design

Analyzing consumer needs

What is the differences between Conventional Distribution channels and Vertical Marketing Systems (VMS)?

CDC flows from producer -> wholesaler -> retailer -> and finally to the consumer VMS flows from the producer, wholesaler, and retailer (all 3 at once) -> consumer *CDC is also infamously known for lack of leadership and power and VMS is known for good channel leadership

What describes layers of intermediaries performing some of the work to bring the product and its ownership closer to the final​ buyer?

Channel levels

Companies such as Breitling watches and Pandora charm bracelets use which of the following types of distribution​ strategy?

Exclusive

What's an example of a common situation in vertical conflict?

Franchise organizations

What's an example of Horizontal Conflict?

Holiday Inn franchisees might complain about other Holiday Inn operators overcharging guests or giving poor service, hurting the overall Holiday Inn image

What's the best channel to utilize?

Indirect Channel (prioritizes the development of the indirect offline channels for the sales of the company)

Which concept recognizes that improved logistics mandates teamwork across the company and the entire supply​ chain?

Integrated supply chain management

Producers of a strong brand sometimes sell it to dealers only if the dealers will take some or all of the rest of its line. This is known as​ full-line forcing. Which of the following statements is true regarding​ full-line forcing?

It may or may not be legal

What is an example of a company that uses a Multichannel Distribution System?

John Deere sells its products through; John Deere retailers, Lowe's home improvement stores, and online

Many vital and key functions are performed by marketing channels. What is NOT one of those key​ functions?

Manufacturing and assembly

What 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

What's an example of Vertical Conflict?

McDonald's had too many franchisee discontentment which hurts McDonald's because franchisees operate more than 80% of the chain's restaurants

Which concept represents a new trend in logistics to save​ costs, increase​ efficiencies, and gain faster and more effective access to global​ markets?

Outsourcing logistics functions

What's an example of a Direct Marketing Channel?

Pampered Chef sells their products through home and office sales parties and online websites and social media

What's the best consumer demand to manage first?

Retailers

_______________________ 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

What indicates the length of a channel?

The number of intermediary levels in the channel

What most closely describes the method by which companies engage and create benefits for their​ customers?

Value delivery network

The goal of logistics is to provide a targeted level of service at the least or lowest possible cost. To achieve this​ goal, which of the following are logistical functional​ areas?

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

What is a Multichannel Distribution System?

a single firm that sets up two or more marketing channels to reach one or more customer segments

How do channel members add value?

by bridging the major time, place, and possession gaps that separate goods and services from those who use them

What is Vertical Conflict?

conflict between different levels of the same channel (is even more common)

What is Horizontal Conflict?

conflict that occurs among firms at the same level of the channel

What is unique about Contractual VMS?

consists of independent firms at different levels that join together to obtain a bigger sales impact than each could achieve alone

What does a Conventional Distribution Channel consist of?

consists of one or more independent producers, wholesalers, and retailers (each is a separate business seeking to maximize its own profits)

What does a Vertical Marketing System consist of?

consists of producers, wholesalers, and retailers acting as a unified system

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

corporate VMS

Companies today see channel members as​ ______________ and practice strong partner relationship management

first-line partners

What is unique about Corporate VMS?

integrates successive stages of production and distribution under single ownership

Marketing logistics addresses not only outbound logistics but also inbound logistics and reverse​ logistics, which means it​ ____________________________

involves the entire supply chain management

What is unique about Administered VMS?

leadership is assumed through the size and power of one or a few dominant channel members

What are Marketing Channels?

members who buy large quantities from many producers and break them down into smaller quantities

_____________________ software systems enable companies to coordinate their​ whole-channel marketing efforts

partner relationship management

One of the primary advantages of marketing logistics is​ __________________

potentially high cost savings and improved customer satisfaction

What 2 factors should be prioritized first when it comes to supplier decisions?

quality and price

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

What is unique about Indirect Marketing Channels?

they contain one or more intermediaries

What is unique about Direct Marketing Channels?

they have no intermediary levels—the company sells directly to consumers

A(n) _____ consists of​ producers, wholesalers, and retailers acting as a unified system

vertical marketing system


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