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