UTK MKT 300 Final

Supply chain management refers to a relatively new business phenomenon meaning:

The management of up and downstream relationships with suppliers and customers to deliver superior customer value at less cost to the supply chain as a whole

What enables highly specific machining on site quickly and at a low cost with the potential to revolutionize the form/time/place mix in some industries, for example, spare parts, prosthetics, etc.?

additive manufacturing and 3D printing

Advertising is __________.

any paid form of non-personal presentation and promotion of ideas, goods, or services by an identified sponsor

The __________ shows how a product fits in with a particular way of life.

lifestyle style

The __________ builds an image or mood around the product or service, such as beauty, love, intrigue, or serenity.

mood or image style

The __________ is setting the promotion budget at a certain percentage of current or forecasted sales or as a percentage of the unit sales price.

percentage-of-sales method

A(n) __________ coordinates successive stages of production and distribution through the size and power of one of the parties.

administered vertical marketing system

A(n) __________ is a channel consisting of one or more independent producers, wholesalers, and retailers, each a separate business seeking to maximize its own profits, perhaps even at the expense of profits for the system as a whole.

conventional distribution channel

The __________ shows people or cartoon characters singing about the product.

musical style

A(n) __________ consists of independent firms at different levels of production and distribution joining together through contracts.

contractual vertical marketing system

Which of the following approaches would NOT help a business deal with the great divide?

creating a production-oriented focus across the supply chain

The __________ is developing the promotion budget by 1) defining specific promotion objectives, 2) determining the tasks needed to achieve these objectives, and 3) estimating the costs of performing these tasks. The sum of these costs is the proposed promotion budget.

objective-and-task method

__________ is setting a price for products that must be used along with a main product, such as blades for a razor and games for a video-game console.

Captive-product pricing

__________ is a layer of intermediaries that performs some of the work in bringing the product and its ownership closer to the final buyer.

Channel level

As Delta invests in luggage tracking-it is switching to baggage tags with radio-frequency ID chips embedded, Delta will now be able to accurately track customers' baggage in real time! Even though the new technology costs a great deal, Delta could save on fewer luggage claims and deliveries. What does this example imply?

Companies need to evaluate cost-to-serve versus the perceived benefits.

__________ is based on a buyer's perceptions of value rather than on the seller's cost.

Customer value-based pricing

Who does the Great Divide in supply chain occur between:

Demand focused activities and supply focused activities

__________ is the first step in cost-based pricing.

Designing a good product

__________ is the fourth step in value-based pricing.

Designing products to deliver the desired value at a target price

Which emerging megatrends will greatly challenge supply chain managers?

Disruptive technology, talent requirements and social changes

__________ is giving a limited number of dealers the exclusive right to distribute the company's products in their territories.

Exclusive distribution

__________ is/are costs that do not vary with production or sales level.

Fixed costs

Which geo-political and social patterns will alter the conduct of supply chain management?

Global unrest, and complexity in trade laws

__________ is offering just the right combination of quality and good service at a fair price.

Good-value pricing

__________ is the logistics concept that emphasizes teamwork—both inside the company and among all the marketing channel organizations—to maximize the performance of the entire distribution system.

Integrated logistics management

__________ is building and maintaining relationships with legislators and government officials to influence legislation and regulation.

Lobbying

__________ is setting a high price for a new product to skim maximum revenues layer by layer from the segments willing to pay the high price; the company makes fewer but more profitable sales.

Market-skimming pricing

__________ is planning, implementing, and controlling the physical flow of materials, final goods, and related information from points of origin to points of consumption to meet customers' requirements at a profit.

Marketing logistics

__________ is setting the price steps between various products in a product line based on cost differences between the products, customer evaluations of different features, and competitors' prices.

Product line pricing

__________ is the second step in value-based pricing.

Setting a target price to match the customer's perceived value

__________ is a short-term incentive to encourage the purchase or sale of a product or service.

Sales promotion

Press relations is a function in which companies __________.

create and place newsworthy information in the news media to attract attention to a person, product, or service

A(n) __________ is a channel arrangement in which two or more companies at one level join together to follow a new marketing opportunity.

horizontal marketing system

A(n) __________ is a marketing channel containing one or more intermediary levels.

indirect marketing channel

__________ performs any or all of the functions required to get a client's product to market.

A third-party logistics provider

What is NOT an innovation related to disruptive technology?

Automotive Distribution

__________ is building and maintaining national or local community relationships.

Public affairs

__________ is building good relations with the company's various publics by obtaining favorable publicity, building up a good corporate image, and handling or heading off unfavorable rumors, stories, and events.

Public relations

Which of the following is NOT a component of a supply chain as listed in SCM1?

Retail Management

__________ is the use of more than one but fewer than all of the intermediaries who are willing carry the company's products.

Selective distribution

__________ is 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

__________ is/are pricing that starts with an ideal selling price, then targets costs that will ensure that the price is met.

Target costing

The separation between demand-focused activities and supply-focused activities is sometimes referred to as:

The Great Divide

__________ is/are costs that vary directly with the level of production.

Variable Cost

Supply Chain Management:

extends the linking and coordination of materials management, manufacturing management and distribution upstream to suppliers and downstream to customers

The __________ creates an imaginary situation around the product or its use.

fantasy style

With ________, the price is used to say something about the product.

psychological pricing

__________ uses a single firm sets up two or more marketing channels to reach one or more customer segments.

A multichannel distribution system

__________ uses a single firm to set up two or more marketing channels to reach one or more customer segments.

A multichannel distribution system

__________ is a promotion strategy that calls for spending a lot on consumer advertising and promotion to induce final consumers to buy the product, creating a demand vacuum that "pulls" the product through the channel.

A pull strategy

__________ is the third step in value-based pricing.

Determining costs that can be incurred

__________ is setting a low price for a new product in order to attract a large number of buyers and a large market share.

Market-penetration pricing

The coordination of forecasting, finished goods inventory management, warehousing, customer service, outbound transportation and production scheduling describe which activity in Porter Value Chain?

Outbound Logistics

__________ is personal presentation by the firm's sales force for the purpose of making sales and building customer relationships.

Personal selling

__________ is a measure of the sensitivity of demand to changes in price.

Price elasticity

__________ is an activity of public relations that involves the publicizing of specific products.

Product publicity

__________ is/are the sum of the fixed and variable costs for any given level of production.

Total costs

__________ is attaching features and services to differentiate a company's offers and charging higher prices.

Value-added pricing

Intensive distribution is __________.

stocking the product in as many outlets as possible

The __________ is setting the promotion budget to match competitors' outlays.

competitive-parity method

__________ shows the number of units the market will buy in a given time period, at different prices that might be changed.

A demand curve

A push strategy is __________.

a promotion strategy that calls for using the sales force and trade promotion to move the product through channels

Multichannel marketing is __________.

selecting, managing, and motivating individual channel members and evaluating their performance over time

The affordable method is __________.

setting the promotion budget at the level management thinks the company can afford

The __________ shows one or more typical people using the product in a normal setting.

slice of life style

A(n) __________ is a channel structure in which producers, wholesalers, and retailers act as a unified system.

vertical marketing system

__________ is the cutting out of marketing channel intermediaries by product or service producers or the displacement of traditional resellers by radical new types of intermediaries.

Disintermediation

What is at the center of the Integrated Supply Chain in SCM1?

the customer experience

A marketing channel is __________.

a set of interdependent organizations that help make a product or service available for use or consumption by the consumer or business user

Direct marketing is __________.

direct connections with carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships

A(n) __________ is a marketing channel that has no intermediary level.

direct marketing channel

Price is __________.

the amount of money charged for a product or service, or the sum of the values that customers exchange for the benefits of having or using the product or service