Chapter 11 Marketing Quiz
Which of the following refers to a vertical marketing system in which channel members remain independent but voluntarily work together because of the power of a single channel member?
Administered VMS
Which of the following refers to the process in which distribution channel members divide larger quantities of goods into smaller lots in order to meet the needs of buyers?
Breaking Bulk
Which of the following refers to the series of firms or individuals that facilitates the movement of a product from the producer to the final customer?
Channels of Distribution
Which of the following refers to a multiple-level distribution channel in which channel members work independently of one another?
Conventional Marketing System
Which of the following refers to a vertical marketing system in which a single firm owns manufacturing, wholesaling, and retailing operations?
Corporate VMS
Which of the following refers to the process in which distribution channel members provide a variety of products in one location to meet the needs of buyers?
Creating Assortments
Which of the following refers to a process of developing distribution objectives, evaluating internal and external environmental influences on distribution, and choosing a distribution strategy?
Distribution Planning
A ________ is often one or more of the manufacturer's own regular customers that purposefully overbuys product when it is offered at special promotional prices, holds it in inventory until the promotion is over, and then sells the product within the channel.
Diverter
A(n) ________ distribution strategy limits distribution to a single outlet in a particular region.
Exclusive
Which of the following refers to activities performed by distribution channels that make the purchase process easier for customers and manufacturers?
Facilitating functions
A ________ market represents those channels of distribution that are not formally defined and authorized by the manufacturer for sale of the product.
Gray
Which of the following refers to an arrangement within a channel of distribution in which two or more firms at the same channel level work together for a common purpose?
Horizontal Marketing System
With a(n) ________, a firm that creates products relies on third parties to distribute those products to buyers.
Indirect channel
Which of the following refers to a practice in which a company contracts with a specialist firm to handle all or part of its supply chain operations?
Insourcing
Which of the following refers to an inventory management and purchasing process that manufacturers and resellers use to reduce inventory to very low levels and ensure that deliveries from suppliers arrive only when needed?
Just In Time (JIT)
_______ is a manufacturing approach intended to balance the inventory holding capabilities and production capacity constraints of a manufacturer for a particular product through the implementation of a consistent production schedule, employed both during and beyond periods of peak demand.
Level loading
Which of the following refers to the process of designing, managing, and improving the movement of products and includes purchasing, manufacturing, storage, and transport?
Logistics
Which of the following refers to the moving of products into, within, and out of warehouses?
Materials Handling
A ________ is a distribution intermediary that buys goods from manufacturers and sells them onward to retailers or other business-to-business customers.
Merchant wholesaler
Which of the following logistics functions refers to a series of activities that occurs between the time an order comes into the organization and the time a product goes out the door?
Order Processing
Which of the following refers to the activities that move finished goods from manufacturers to final customers, including order processing, warehousing, materials handling, transportation, and inventory control?
Physical Distribution
In some cases, products end up being sold through one or more channels that the manufacturer did not authorize. This is known as ________.
Product Diversion
________ is suitable for most shopping products, such as household appliances and electronic equipment for which consumers are willing to spend time visiting different retail outlets to compare alternatives.
Selective Distribution
A ________ is a fee paid in exchange for agreeing to place a manufacturer's products on a retailer's valuable shelf space.
Slotting Allowance
Which of the following refers to the coordination of flows among firms to maximize total profitability?
Supply Chain Management