MARKETING GTAMINE Marketing management final exam bank questions and answers

MARKETING GTAMINE Marketing management final exam bank questions and answers 1. Producing a product or service and making it available to buyers requires building relationships not only with customers but also with key suppliers and resellers in the company's . A: supply chain 2. The sets of firms that supply companies with the raw materials, components, parts, information, finances, and expertise needed to create products or services are known as . A: upstream partners 3. Which of the following terms refers to the wholesalers and retailers that form a vital link between the firm and its customers? A: downstream partners 4. The term supply chain is considered limited because it . A: suggests that planning begins with raw materials and factory capacity 5. The term demand chain is considered limited because it . A: takes a step-by-step, linear view of purchase-production-consumption activities. 6. A view of the market that specifies that planning starts by identifying the needs of target customers, to which the company responds by organizing a chain of resources and activities with the goal of creating customer value is a(n) view. A: sense-and-respond 7. A is made up of the company, suppliers, distributors, and customers who partner to improve the performance of the entire system. A: value delivery network 8. play an important role in matching supply and demand by providing consumers with a broad assortment of products in small quantities. A: Intermediaries 9. Which of the following questions is NOT of major concern regarding marketing channels? A: What impact do marketing channels have on the profitability of the firm and its partners. 10. A is a set of interdependent organizations that help make a product or service available for use or consumption by the consumer or business user. A: marketing channel 11. Which of the following is most likely true of marketing channel decisions? A: They often involve long-term commitments to other firms. 12. Distribution channel decisions frequently require long-term commitments between firms. A primary reason is that . A: when they set up distribution through franchisees, independent dealers, or large retailers, they cannot readily replace these channels with company-owned stores or Internet sites if conditions change. 13. play an important role in efficiently making products available to target markets in the needed varieties and quantities. A: Intermediaries 14. From the economic system's point of view, the role of is to transform the assortments of products made by producers into the assortments wanted by consumers. A: marketing intermediaries 15. A is a layer of intermediaries that performs some work in bringing the product and its ownership closer to the final buyer. A: channel level 16. In a(n) channel, the same member both produces and distributes a product or service to consumers. A: direct 17. Which of the following companies uses a direct marketing channel? A: Holly Wreaths, a store that sells Christmas ornaments to customers via its online click-to-order catalogs 18. At its most basic form, a marketing channel consists of the producer and the . A: consumer 19. A marketing channel that consists of one or more intermediaries is known as a(n) marketing channel. A: indirect 20. Plasticine Palace supplies its products exclusively to Arts & Crafts, a chain of stationery stores across the country. The chain then makes the plasticine available to end consumers. This is an example of . A: an indirect marketing channel 21. Which of the following is an example of an indirect marketing channel? A: Wine & Dine, which sells its picnic baskets to select novelty stores across the country 22. Which of the following is a type of flow that connects all institutions in a marketing channel? A: payment flow 23. The greater the number of channel levels in a marketing channel, the . A: greater the channel complexity 24. Which of the following is a conventional consumer marketing channel? A: producer to wholesaler to retailer to end consumer 25. Which of the following is an indirect business marketing channel? A: producer to business distributor to business customer 26. Refer to the scenario below to answer the following question(s). Giant Beanstalks is a company based in Maryland that processes and cans vegetables. It has contracts with several large farms in Riverdale, 80 miles away from the factory, that agree to sell their produce to Giant Beanstalks. The company's products are available to the public only through Greenleaf, a grocery chain with 38 stores in the country. Which of the following is Giant Beanstalks' upstream partner? A: the farmers of Riverdale 27. Downstream marketing channel partners, such as wholesalers and retailers, form a vital link between the firm and its customers. A: TURE 28. A company's channel decisions directly affect the prices of its products. A: TURE 29. Producers use intermediaries because they create greater efficiency in making goods available to target markets. A:TURE 30. The role of marketing intermediaries is to transform the assortments of products made by retailers into the assortments wanted by producers. A: FULSE 31. Each layer of marketing intermediaries that performs some work in bringing the product and its ownership closer to the final buyer is a channel level A:TURE 32. It is more efficient for a company to keep the marketing channel functions---such as information gathering, promotion, contacting customers and matching their needs, negotiation, and physical Distribution---in-house as they are most skilled at those functions. A: FULSE 33. The number of products supplied indicates the length of a channel. A:FULSE 34. In a direct marketing channel, the producer sells directly to the intermediaries, who in turn sell directly to the customers. A:FULSE 35. are complex behavioral systems in which people and companies interact to accomplish individual, company, and channel goals. A: Distribution channels 36. Which of the following does NOT apply to channel systems? A: Intermediaries play interchangeable roles in the system. 37. Which of the following is true of channel members? A: They play specialized roles in the channel. 38. Conflict that occurs among firms at the same level of the marketing channel is known as conflict. A: horizontal 39. Conflict that occurs between different levels of the same marketing channel is known as conflict. A: vertical 40. Managers at the Imperial Hotel-Chicago complained that the chain's overall image was hurt because Imperial Hotel-Dallas was overcharging guests and providing poor service. The Imperial Hotel was experiencing conflict. A: horizontal 41. The management of two Panizza restaurants has an ongoing disagreement over the discount rate given to students from the local high school. This is an example of conflict. A: horizontal 42. When KFC came into conflict with its franchisees over the brand's Unthink KFC repositioning, which emphasized grilled chicken over its traditional Kentucky fried chicken, KFC experienced conflict. A: vertical 43. Conflict in the channel can be healthy because . A: the channel could become passive and non-innovative 44. A(n) consists of one or more independent producers, wholesalers, and retailers, each seeking to maximize its own profits, sometimes even at the expense of the system as a whole. A: conventional distribution channel 45. Which of the following is true of conventional distribution channels? A: Channel members seek to maximize their own profits. 46. A(n) marketing system consists of producers, wholesalers, and retailers acting as a unified system. A: vertical 47. Which of the following is true of vertical marketing systems? A: Producers, wholesalers, and retailers act as a unified system.