Mktg 101
EDI
A customer transmits it order information directly to the suppliers computer and the suppliers computer immediately processes the order and schedules production order , assembly and transportation
The physical distribution concepts says or implies that
A firm should seek to minimize the total cost of transporting, storing, and product handling for a given level of customer service
Convenience food stores offer
A limited assortment of fill in terms like: bread milk beer gas
An online intermediary Such as Hulu scams and collects thousands of hours of programming each week. In this case Hulu's regrouping activity is known as... Then Hulu works with its customers to tag and rate programming, which is the regrouping activity known ass...
Accumulating; sorting
Regarding product classes
All products fit into one of two broad groups- consumers products and business products. The same product may be consumer and business product. Consumer product classes are based on how consumers think about and shop for products. Business product classes are based on how buyers think about products and how they'll be used
Which of the following business products are usually treated as expensive items
And expensive item is a product his total cost is treated as a business expense end of the year it's purchased for instants component parts and materials, raw materials, professional services, and supplies
Mass merchandisers
Are large, self service stores which dress low price to get faster turnover Ex: Walmart or winco
Business product
Based on how buyers think about products and how they'll be used
Consumer product
Based on how consumers think about and shop for products
The value of a brand overall strength in the market is called
Brand equity
Which of the following is true? Airfreight
Can reduce inventory costs by eliminating outline warehouses
Gradual "rollouts" are characteristics of which step of the new product development process
Commercialization
The product life cycle
Describe the stages a product idea or industry goes through from beginning to end
Compared to a warehouse and distribution center is
Design to speed the flow of products towards the consumer and illuminate storing cost
Regarding product life cycle as it is
Different marketing strategies may be needed at different stages of the product life
Which of the following is a condition favorable to successful branding
Favorable shelf locations or display spaces are available in stores
Marketing manager should recognize that
Firms that enter mature markets have to compete with establish firms for declining industry profits
Franchisors
Franchise holders sales account for about a third of retail sales. The franchise holder pays fees and commissions and the franchise's or develops a good marketing strategy, provides promotional support, training image/branding and buying power
Direct investment
Gives the parent firm complete control of marketing strategy planning
Which of the following statements about
Good packaging can be one of the most important methods a promotion because it is at the point of purchase
Which of the following is true regarding shopping products
Heterogeneous shopping products are shopping products that customer sees as different and wants to inspect for quality and suitability. Quality and style matter more than price and buyers usually expect more sales help or service. Homogeneous shoppers shop for the best price and the Internet has become a fast and efficient way of doing that
Which of the following is an unsought product
I'm Soppe products are products that potential customers don't yet want or no they can buy so they don't search for them at all consumers probably won't buy these products when they see them unless promotion can show their value. For instance grave stones, a new type of health food, life insurance aimed at college students, a new electronica device using revolutionary technology a few people are aware of
Exclusive distribution
Is used when the firm selects only one wholesaler or retailer in each geographic area
The nutrition labeling and education act of 1990, including its recent revisions, requires food manufacturers to
List the nutritional value of the food product, use a uniform format and the nutritional facts panel, list the fat content of the food product, List ingredients that trigger common food allergies, therefore all of these are apart of the nutrition labeling and education act
Do use a radio frequency identification tags can
Make it easier for computers to monitor inventory, order needed stock, track storing and shipping cost, and transmit detailed information about the contents of a cartoon
Selective distribution
Maybe suitable for all categories of products. Only the best intermediaries are used in the company is able to sell the product where it sounds best. Probably most suitable for a hetero generous shopping product
Quality
Means of products ability to satisfy customers need or requirements
Licensing
Means selling the right to use some process, trademark, patent or other right for a fee
Which of theFollowing best illustrates discrepancy of quantity?
Michelin made millions of tires last year but most customers but only one set. DQ means the difference between the quantity of product it is economical for a producer to make and quanitfy final users or consumers normally want
In the market introduction stage of the product life cycle
Most companies experience losses
Emergency Products
Need widespread distribution near probable points of use. While purchasing emergency products a customer does not have the time to shop and he's not very sensitive to price. A marketing manager should identify these factors and ensure that the product has widespread distribution near the probable point of need
Regarding alternative transporting mode
Trucks are good for speed frequency dependability and number of locations served
Drop-shippers
Type of limited function wholesaler that owns products they sell, but do not actually handle, stock, or deliver them
Channels of distribution
Usually require a longer-term planning and other market makes elements and channel decisions are more difficult to change quickly
Regarding automatic bending which of the following statements is true
Vending machine sales account for about 1.5% of total US retail sales vending machines can be costly to operate but convenient to consumers. Traditionally, soft drinks, candy bars, and snack foods are sold by vending machines
The main difference between retailing in wholesaling is that
Wholesaling involves selling mainly to other merchants in business consumers but retailing involve selling mainly to final consumers
Trademarks
Words, symbols, or logos that are legally registered for used by a single company
Sorting
Separating products into grades and qualities desired by different target markets
Concept testing
Six potential customers reactions and attitudes towards new product ideas before actual models are developed
Which of the following statements about channel systems is true
Some administer channel systems obtain the advantages of vertically integrated systems while still retaining flexibility
Regarding supermarkets which of the following statements is true
Supermarket net profit after taxes usually are about 1 to 2% of sales or less
Vertical arrangements
The legality of vertical arrangements between producers and a mediators is not clear-cut. Courts can with a possible good effects against the possible restrictions on
Which of the following are true about dealer brands as compared to manufacturbrands
There is plenty of motivation for intermediaries to develop dealer brands as they usually are in a better margin on the sale then compared to manufactured brands
Convenience products
Products a consumer is aware of and wants but isn't willing to spend much time and effort shopping for Products a consumer needs but isn't willing to spend too much time or effort shopping for these products are but often, require a little service and don't cost much
Justin time delivery
Reduce his customers physical distribution costs