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Mizzou Marketing 3000 Final Exam With Complete Solutions Latest Update
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Mizzou Marketing 3000 Final Exam With Complete SolutionsLatest Update
Distribution Intermediary Functions - ANSWER -Transactional
-Logistical
-Facilitator
-Informing
Transactional - ANSWER -Buying and selling
-Risk taking
Logistical - ANSWER -concentration
-storing
-sorting
-physical distribution
Facilitator - ANSWER -Financing
-Grading
Informing - ANSWER -Marketing research to companies -Providing information to
consumers
channel members - ANSWER are also called distributors, intermediaries, or middlemen,
and membership includes wholesalers as well as reatailers
coverage or channel width - ANSWER the number of distributors offering
product/service
,channel depth - ANSWER -the levels of warehouses/distributors/brokers between
producer and consumer
-many smaller manufacturers often use deep channels to distribute their goods
particularly when they want to to distribute via small independent retailers
three coverage strategies - ANSWER -Intensive
-Selective
-Exclusive
intensive distribution - ANSWER -Provide offers in as many outlets as possible to
maximize exposure
-Sales are dependent on customers seeing an item and no sales effort at point of
purchase
-This is a routine decision and is lower priced items like a Hershey's bar
-most extreme example is vending machines
slective distribution - ANSWER -Provide offerings in selective outlets and to distribute in
areas based on performance capabilities
-This uses a limited decision and is like higher priced candy such as Lindor or medium
end cars like Audi
-some coverage and moderately priced
exclusive distribution - ANSWER -Using only one outlet in a geographic area and the
objective is the maximize the "push" of a distributer
-Maximum sales effort at point of purchase and little coverage, tend to carry one line,
excellent after sale service
-This uses extensive decision making and is for luxury things like Ferrari, Rolex watches,
and IKEA
Global Distribution - ANSWER -Decentralized distribution is often believed to optimize
, customer satisfaction
-Best forms of foreign market penetration are catalogs, convenience, self service,
discount and franchises
Retailing - ANSWER -the sale, and all activities directly related to the sale, of goods and
services to ultimate consumers for personal, nonbusiness use.
-There are more than 2.7 retail stores in the US
-Has the least globalized use but it changing quickly ex. german sales in foreign revenue
size of retailers - ANSWER -Most retail establishments are small, but there is a high
degree of concentration
-A small number of establishments account for a substantial share of retail trade
-The ten largest retailers have more than 15 percent of total retail trade in the US
-Small retailers typically succeed by:
1. Serving customers who seek benefits that small stores can provide better than large
stores (such as better service EX. The Tonys Restaurant example about the Ice Cream
Joel talked about)
2. Forming or joining a contractual vertical marketing system
Corperate Chain - ANSWER Centrally owned and managed by stores that carry similar
products
Independent - ANSWER Single unaffiliated store
contractual vertical marketing system - ANSWER retailer cooperative- small retailers
establish and operate wholesale warehouse
voluntary chain- wholesalers provide services to retailers
franchising- franchisor provides trademark and assistance in return to payments from
franchises like a baseball team
(except for supermarkets and department stores virtually everything is franchised)
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