MKTG Ch. 15

A ______________ vertical marketing system allows for a firm to own and control all of its supply chain.

Corporate

Distribution systems use which of the following to make the process of checking merchandise more efficient?

EDI, RFID, ASN.

True or False: A direct (manufacturer to consumer) supply chain is a poor choice in a simple economy.

False

Computer chips that automatically transmit to a special scanner all the information about a container's contents or individual products are known as:

RFID tags

Which of the following activities take place at distribution centers?

Storage of goods, Shipment of goods, Receipt of goods.

Which of the following is an example of horizontal channel conflict?

Walmart is often accused of putting local discount stores out of business by selling at lower prices.

Which of the following is the best example of vertical conflict?

a computer manufacturer angers its retailers by selling its products at a discount online.

A wholesaler is:

a firm that buys products from manufacturers and resells them to retailers.

Each participant in a marketing channel:

adds value

A vertical system in which there is no common ownership and no contractual relationships, but the dominant channel member controls the relationship, is known as a _________ vertical system.

administered

Different types of VMSs, vertical marketing systems, include:

administered

When marketing channels are more closely aligned, conflicts:

are less likely

The process of going through goods upon receipt to make sure that the merchandise ordered was the merchandise received, and in good condition, is known as:

checking

The franchisor:

collects royalties, develops new products and services, does advertising.

Supply chains members must have __________ in order for a successful relationship to develop.

common goals

Mutual trust helps partners in strategic relationship to:

communicate efficiently, clarify goals and problems, and share ideas.

Conflicting goals of channel members can often lead to channel _________________.

conflict

Channel conflict arises because of supply chain members who have:

conflicting goals

In a ______________, members of the channel attempt to reach their own objectives and maximize their own profits, sacrificing other channel members.

conventional marketing channel

The purchase data collected at the point of sale goes into a huge database known as a:

data warehouse

A _______________ marketing channel is one in which products are sold from a manufacturer to a consumer without going through a retailer.

direct

A ___________ coordinates deliveries to distribute centers.

dispatcher

The sales department must coordinate its delivery promises directly with the:

distribution center

Open communication is vital to a strategic relationship because members need to understand:

each others strategies, problems that might arise, each others businesses.

A specialized role is played by ____________ a marketing channel.

every member of

If a car stereo specialty retailer has extremely knowledgeable salespeople and installers, car stereo manufacturers may be motivated to work with the retailer. This is an example of ________________ power.

expertise

The most common type of a contractual vertical marketing system is known as:

franchising

To whom are a lump sum and royalties paid when franchise opens?

franchisor

A ______________ marketing channel is one in which one or more intermediaries (such as a retailer) help to provide goods and services to consumers.

indirect

Manufacturers often try to find ways to engage directly with customers on the websites in order to learn more about their customers, thus becoming less dependent on the retailers who actually sell the product for customers insights. The manufacturers are seeking to limit the ___________ power held by the retailers.

information

A firms ability to satisfy customer demand by having stock on hand impacts its ____________________.

inventory investment

Getting merchandise floor-ready:

involves hanging garments on hangers, involves ticketing and marking.

Because firms using just-in-time systems do not need to forecast sales as far into the future, their inventory investment:

is further reduced

Merchandise in the cross-docking process:

is prepackaged by a vendor for a specific store, is routed to the loading dock for a truck going to a specific store.

The amount of time between the recognition that an order needs to be placed and the arrival of the needed merchandise at the sellers store, ready for sale is known as:

lead time

The set of approaches and techniques firms use to effectively and efficiently integrate suppliers, manufacturers, warehouses, stores, and transportation intermediaries is called ________________ management.

marketing channel

Each member of the supply chain ____________ what drives the other members in order to minimize conflict.

must understand

Strategic relationships rely on which of the following to succeed?

mutual trust

Relationships in supply chains:

occur because the parties want something different from each other.

A document or display on a forklift indicating how much of a specific item to get from a specific storage area is known as a

price ticket

Information transmitted back and fourth between retailers and vendors include:

purchase orders, data about returned merchandise, invoices.

Just-in-time systems are also known as:

quick response systems

Merchandise is stored or cross-docked after it is:

received and checked

The process of recording the arrival of merchandise at a distribution center is known as:

receiving

The benefits of a JIT system include:

reduced lead time, increased product availability.

For the past several years, it has been easy for Apple to find retailers to carry the iPad because of the brands popularity, illustrating ___________ power.

referent

A contractual vertical marketing system is one in which:

relationships between channel members are governed through contracts.

Manufacturers may offer discounts to retailers who run special promotions featuring the manufacturers product. This is an example of _________ power.

reward

Shipping merchandise from a distribution center to stores has become increasingly:

sophisticated

A __________ relationship is one in which the supply chain members are committed to maintaining the relationship over the long term and investing in opportunities that are mutually beneficial.

strategic

A marketing channel in which the members act as a unified system is known as:

vertical marketing system

A marketing channel is which the members act as a unified system is known as:

vertical marketing system