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BUSML 3250 Exam 3 Questions with Correct Answers
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BUSML 3250 Exam 3 Questions with Correct Answers
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BUSML 3250 Exam 3 Questions withCorrect Answers
Marketing Channel - Answer-individuals and firms involved in the process of making a
product or service available for use or consumption by consumers or industrial users
Agent or Broker - Answer-any intermediary with legal authority to act on behalf of the
manufacturer
Wholesaler - Answer-a marketing intermediary that sells to other organizations
Transactional Functions - Answer-buying, selling, risk taking
Logistical Functions - Answer-assorting, storing, sorting, transporting
Facilitating Functions - Answer-researching, financing
Direct Channel - Answer-a distribution channel in which producers sell directly to
consumers
Indirect Channel - Answer-intermediaries are inserted between the producer and
consumers and perform numerous channel functions
Direct to Consumer Marketing Channels - Answer-allow consumers to buy products by
interacting with various print or electronic media without a face-to-face meeting with a
salesperson
Multichannel Marketing (Omnichannel Marketing) - Answer-the blending of different
communication and delivery channels that are mutually reinforcing in attracting,
retaining, and building relationships with consumers who shop and buy in traditional
intermediaries and online
Vertical Marketing Systems - Answer-professionally managed and centrally coordinated
marketing channels designed to achieve channel economies and maximum marketing
impact
Corporate Vertical Marketing System - Answer-a system in which the parent company
has complete control and can dictate the priorities and objectives of the supply chain; it
may own facilities such as manufacturing plants, warehouse facilities, retail outlets, and
design studios
Intensive Distribution - Answer-stocking the product in as many outlets as possible
, Exclusive Distribution - Answer-giving a limited number of dealers the exclusive right to
distribute the company's products in their territories
Selective Distribution - Answer-a form of distribution achieved by screening dealers to
eliminate all but a few in any single area
Buyer Requirements - Answer-information, convenience, variety, and pre or post sale
services
Channel Conflict - Answer-disagreements among marketing channel members on
goals, roles, and rewards - who should do what and for what rewards
Vertical Conflict - Answer-a channel conflict that occurs between different levels in a
marketing channel, most typically between the manufacturer and wholesaler or between
the manufacturer and retailer
Disintermediation - Answer-the cutting out of marketing channel intermediaries by
product or service producers or the displacement of traditional resellers by radical new
types of intermediaries
Horizontal Conflict - Answer-a channel conflict that occurs among channel members on
the same level
Channel Captain - Answer-a manager who helps direct the activities of a whole channel
and tries to avoid or solve channel conflicts
Logistics - Answer-the management of the details of an operation
Supply Chain - Answer-the connected chain of all of the business entities, both internal
and external to the company, that perform or support the logistics function
Supply Chain Management - Answer-a management system that coordinates and
integrates all of the activities performed by supply chain members into a seamless
process, from the source to the point of consumption, resulting in enhanced customer
and economic value
Consumer Utilities - Answer-time, place, form, possession
Form of Ownership - Answer-distinguishes retail outlets based on whether independent
retailers, corporate chains, or contractual systems own the outlet
Level of Service - Answer-used to describe the degree of service provided to the
customer
Merchandise Line - Answer-how many different types of products a store carries and in
what assortment
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