Marketing 350 Worsham Exam 4 || with 100% Error-free
Solutions.
Supply Chain Management correct answers Set of approaches and techniques
that firms use to integrate
suppliers, manufacturers, warehouses so that products are distributed in the
right quantity
right location
right time
while minimizing costs
Marketing Channels correct answers Direct Channel
Direct Channel One Intermediary
Direct Channel Two Intermediaries
Direct Channel correct answers Manufacturer to customer
Direct Channel One Intermediary correct answers Manufacturer to retail customer
Direct Channel Two Intermediaries correct answers Manufacturer to wholesaler to retailer to
customer
EDI (Electronic Data Interchange) correct answers computer-to-computer exchange of business
documents from a retailer to a vendor and back, reduces cycle time
Ex: sales data, purchase orders, invoices, and data about returned merchandise
RFID (Radio Fréquency Identification) correct answers Tags, tiny computer chips that
automatically transmit to a special scanner all the into about a product/container.
Advantage: reduces overall inventory via efficiency
eliminates the need to handle items individually
Just In Time vs Quick Response Systems correct answers Just in Time: reduced lead time,
increase product availability with lower inventory investment
Quick Response Systems: Deliver less merchandise on a more frequent basis
Just-In-Time (JIT) correct answers Manufacturing terms, raw materials are coming in just the
right amount to make a finished product.
Merchandise = fresher, neater when you are getting less
Merchandize more frequently
Lowering cost for manufacturer
, Quick Response Systems correct answers the exact same thing as just in time but for the retail
world
Ex: Dillards does not have to stock lots of merchandise on shelf, has automatic system gets in
new shipment
Customer Benefits: from getting fresher merchandise
Retailer Benefits: because they don't pay for weeks worth but pay for days worth.
4 Vertical Marketing Systems correct answers Independent
Administered
Contractual
Corporate
Indépendant Marketing System correct answers Several independent members (a manufacturer,
wholesaler, and retailer) attempt to *satisfy their own objectives* and *maximize their profits*,
often at the expense of other members.
None of the participants have any control over the other.
Administered Marketing System correct answers No common ownership or contractual
relationships, but the dominant channel member controls or holds the balance of power.
Contractual Marketing System correct answers Firms at different levels of the supply chain join
together through contracts to obtain economics of scale and coordination to reduce conflict.
Corporate Marketing System correct answers Parent company has complete control and can
dictate the priorities and objectives of the marketing channel because it owns multiple segments
of the channel.
Forward Integration correct answers when manufacturer buys retailer downstream, Lilly Pulitzer
Backward Integration correct answers retailer buys wholeslaers, grocery stores
Retailing correct answers Business activities that add value to products or services that are sold
to consumers for their personal use.
Retailing Unique Features correct answers breaking bulk, assortment, atmospherics, provide
services
Breaking Bulk correct answers Refers to the way wholesalers achieve savings for their customers
THROUGH buying merchandise in large lots and breaking the bulk into smaller units.
Assortment correct answers Different types of products that a business makes or a retailer offers
for sale: breadth, length, depth, consistency
Atmospheric correct answers Physical characteristics and surrounding influence of a retail store
that is used to create and image in order to attract customers
Solutions.
Supply Chain Management correct answers Set of approaches and techniques
that firms use to integrate
suppliers, manufacturers, warehouses so that products are distributed in the
right quantity
right location
right time
while minimizing costs
Marketing Channels correct answers Direct Channel
Direct Channel One Intermediary
Direct Channel Two Intermediaries
Direct Channel correct answers Manufacturer to customer
Direct Channel One Intermediary correct answers Manufacturer to retail customer
Direct Channel Two Intermediaries correct answers Manufacturer to wholesaler to retailer to
customer
EDI (Electronic Data Interchange) correct answers computer-to-computer exchange of business
documents from a retailer to a vendor and back, reduces cycle time
Ex: sales data, purchase orders, invoices, and data about returned merchandise
RFID (Radio Fréquency Identification) correct answers Tags, tiny computer chips that
automatically transmit to a special scanner all the into about a product/container.
Advantage: reduces overall inventory via efficiency
eliminates the need to handle items individually
Just In Time vs Quick Response Systems correct answers Just in Time: reduced lead time,
increase product availability with lower inventory investment
Quick Response Systems: Deliver less merchandise on a more frequent basis
Just-In-Time (JIT) correct answers Manufacturing terms, raw materials are coming in just the
right amount to make a finished product.
Merchandise = fresher, neater when you are getting less
Merchandize more frequently
Lowering cost for manufacturer
, Quick Response Systems correct answers the exact same thing as just in time but for the retail
world
Ex: Dillards does not have to stock lots of merchandise on shelf, has automatic system gets in
new shipment
Customer Benefits: from getting fresher merchandise
Retailer Benefits: because they don't pay for weeks worth but pay for days worth.
4 Vertical Marketing Systems correct answers Independent
Administered
Contractual
Corporate
Indépendant Marketing System correct answers Several independent members (a manufacturer,
wholesaler, and retailer) attempt to *satisfy their own objectives* and *maximize their profits*,
often at the expense of other members.
None of the participants have any control over the other.
Administered Marketing System correct answers No common ownership or contractual
relationships, but the dominant channel member controls or holds the balance of power.
Contractual Marketing System correct answers Firms at different levels of the supply chain join
together through contracts to obtain economics of scale and coordination to reduce conflict.
Corporate Marketing System correct answers Parent company has complete control and can
dictate the priorities and objectives of the marketing channel because it owns multiple segments
of the channel.
Forward Integration correct answers when manufacturer buys retailer downstream, Lilly Pulitzer
Backward Integration correct answers retailer buys wholeslaers, grocery stores
Retailing correct answers Business activities that add value to products or services that are sold
to consumers for their personal use.
Retailing Unique Features correct answers breaking bulk, assortment, atmospherics, provide
services
Breaking Bulk correct answers Refers to the way wholesalers achieve savings for their customers
THROUGH buying merchandise in large lots and breaking the bulk into smaller units.
Assortment correct answers Different types of products that a business makes or a retailer offers
for sale: breadth, length, depth, consistency
Atmospheric correct answers Physical characteristics and surrounding influence of a retail store
that is used to create and image in order to attract customers
