MKTG 350 EXAM 4 || QUESTIONS AND 100%
ACCURATE ANSWERS.
supply chain management correct answers set of a approaches and techniques that firms use to
integrate suppliers, manufacturers, warehouses, stores, and transportation intermediaries so that
products are distributed in the right quantity to the right location at the right time while managing
costs.
logistics management correct answers customer service, demand forecasting, distributor
communication, inventory control, materials handling, order processing, parts and service
support, plant and site selection, procurement, packaging, handle return of goods, transportation,
warehousing & storage
EDI correct answers computer-to-computer exchange of business documents from a retailer to a
vendor and back; reduces cycle time
Examples of EDI correct answers sales data, purchase orders, invoices, and data about returned
merchandise
RFID correct answers are tiny computer chips that automatically transmit to a special scanner all
the information about a container's contents or individual products.
Advantage of RFID correct answers reduces overall inventory via efficiency, eliminates the need
to handle items individually
JIT System (Just in Time) correct answers inventory management systems designed to deliver
less merchandise on a more frequent basis than traditional inventory systems.
QR System (quick response) correct answers deliver less merchandise on a more frequent basis
than traditional inventory systems (same as JIT)
Costs of JIT system correct answers more complicated, frequent deliveries, smaller deliveries
which are more expensive to transport, require strong commitment from firm and vendors to
share data and communicate
independent vertical marketing system correct answers manufacturer is completely independent
of any relationship with the wholesaler and retailer, they will each try to make as much
money/maximize their margins, retailer getting short end of stick
corporate vertical marketing system correct answers one level of the channel actually owns other
levels of the channel
forward integration correct answers when manufacturer buys retailer downstream, Lilly Pulitzer
backward integration correct answers retailer buys wholesalers, grocery stores
, contractual vertical marketing system correct answers independent firms at different levels of the
marketing channel join together through contracts to obtain economies of scale and coordination
and to reduce conflict, franchising
administered vertical marketing system correct answers dominant channel member controls or
holds the balance of power
aspects of supply chain correct answers manufacturer, wholesaler, retailer, consumer
retailing correct answers the business activities that add value to products and services sold to
consumers for their personal non-business use
intensive distribution correct answers sell your product in as many outlets as possible, people
aren't willing to shop around for these products (convenience)
selective distribution correct answers select certain retailers in a geographic region, "good fit",
more control over retailers (shopping)
exclusive distribution correct answers product is so well known that you can get away with only
selling in one location in a geographic region (specialty)
convenience stores correct answers often connected to gas station, located near neighborhoods
specialty stores correct answers limited merchandise with service in small store, well trained
sales associates
department stores correct answers broad variety, deep assortment, decreasing in size
category killers correct answers category specialist, discount with narrow but deep assortment,
specialty store on steroids, monopolized category (Babies R Us, Lowe's, Barnes and Noble)
extreme value retailers correct answers full line, limited, very low prices, (Dollar General)
off price retailers correct answers inconsistent assortment of brand name at low prices, buying
opportunistically (TJ Maxx)
share of wallet correct answers the percentage of customer's purchases made by a certain retailer
customer relationship management correct answers system with a centralized customer data
warehouse that houses a complete history of each customer's interaction with the retailer,
regardless of where it was purchased
benefits or internet and multichannel retailing correct answers deeper and broader selection,
personalization, gain insights into consumer shopping and behavior, increase share of wallet,
