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2.BUSML 3250 Exam 3 Questions and Answers
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2.BUSML 3250 Exam 3 Questions and Answers
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2.BUSML 3250 Exam 3 Questions andAnswers
Marketing Channel - Answer-Consists of 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 type of business that buys goods in large amounts and resells
them to other businesses in smaller lots.
Transactional Functions - Answer-contacting/promotion, negotiating, risk taking
Logistical Functions - Answer-physically distributing, storing, sorting
Facilitating Functions - Answer-financing, grading, marketing information and research
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 / 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. Sometimes called omnichannel marketing.
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-A level of distribution density whereby a firm tries to
place its products and services in as many outlets as possible.
Exclusive Distribution - Answer-A level of distribution density whereby only one retailer
in a specific geographic area carries the firm's products.
Selective Distribution - Answer-A level of distribution density whereby a firm selects a
few retailers in a specific geographic area to carry its products.
Buyer Requirements - Answer--Information
-Variety
-Convenience
-Pre- or Post-Sale Service
Channel Conflict - Answer-Arises when one channel member believes another channel
member is engaged in behavior that prevents it from achieving its goals.
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-A source of channel conflict that occurs when a channel
member bypasses another member and sells or buys products direct.
Horizontal Conflict - Answer-a channel conflict that occurs among channel members on
the same level
Channel Captain - Answer-a member of a marketing channel that exercises authority
and power over the activities of other channel members
Logistics - Answer-Those activities that focus on getting the right amount of the right
products to the right place at the right time at the lowest possible cost.
Supply Chain - Answer-The various firms involved in performing the activities required
to create and deliver a product or service to consumers or industrial users.
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.
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