MGT 103 Ch. 15-16 Exam Questions with Complete Answers
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Course
MGT103
Institution
MGT103
what are the 4 C's? - Answer-1. customer solution
2. customer cost
3. convenience
4. communication
what are the 6 forces that surround the customer and affect the marketing mix? - Answer-1. economic
2. political
3. legal & regulatory
4. technological
5. socio-cultural
6. competitive
a...
MGT 103 Ch. 15-16 Exam Questions with
Complete Answers
what are the 4 C's? - Answer-1. customer solution
2. customer cost
3. convenience
4. communication
what are the 6 forces that surround the customer and affect the marketing mix? -
Answer-1. economic
2. political
3. legal & regulatory
4. technological
5. socio-cultural
6. competitive
are the 6 forces that surround customers and affect the marketing mix controllable or
uncontrollable? - Answer-uncontrollable; this is unlike the 4 P's of the marketing mix that
ARE controllable
what is the equation for value? (what - what)? - Answer-(customer benefits) - (customer
costs)
what is a distribution channel? - Answer-A set of interdependent organizations involved
in the process of making a product or service available for use by the consumer or
business user
what is a supply chain? - Answer-All of the activities necessary to turn raw materials
into a good or service and put it in the hands of
the consumer
in this distribution channel, which one(s) are the intermediates?
what is direct channel marketing? - Answer-manufacturer and end customer interact
directly with no intermediaries
example: insurance
¤ Advantages
- Not complex, possibly more effective distribution
-Possibly greater cost efficiency in long run (no middlemen)
- Greater control over environment in which offering is delivered
, - Closer contact with end user
¤ Disadvantages
- Takes time to establish
- Difficult to establish same breadth as you would with multiple
intermediaries
- Manufacturers may not have these competencies
- Large up-front fixed cost (insurance, rent, utilities)
are all characteristics of _____________ channeling? - Answer-direct channeling
ex) insurance
what is the main reason for using intermediates in a distribution channel? - Answer-they
increase efficiency
* offer the firm more than it can achieve on it's own
(Contacts, Experience, Specialization, Scale of
Operation)
¤*Advantages
- Rapid distribution can be implemented quickly
- Broad coverage to reach all customers
* Disadvantages
- Complex and maybe not as efficient?
- Loss of control over selling environment
- Loss of control over brand associations
- Diminished ability to communicate with end consumer
are all charachteristics of __________ channeling? - Answer-indirect
what is indirect channeling? - Answer-other intermediaries (wholesalers and or retailers)
are used in the distribution
ex) automobiles, 7 - Eleven, Staples, Safeway
what is a value chain? - Answer-is the full range of activities - including design,
production, marketing and distribution - businesses conduct to bring a product or
service from conception to delivery. For companies that produce goods, the value chain
starts with the raw materials used to make their products, and consists of everything
added before the product is sold to consumers.
Any intermediary between the manufacturer and end-user markets
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