COB 300 Marketing Final Exam Questions Verified Answers New Update (A+ Pass)
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COB 300
COB 300 Marketing Final Exam Questions Verified Answers New Update (A+ Pass)
Marketing Channel - Answers - individuals and firms involved in the process of making a product or service available for use or consumption by consumers or industrial users
Intermediaries - Answers - firms or individ...
COB 300 Marketing Final Exam
Questions Verified Answers New
Update (A+ Pass)
Marketing Channel - Answers -✔✔ individuals and firms involved in the process of
making a product or service available for use or consumption by consumers or industrial
users
Intermediaries - Answers -✔✔ firms or individuals who move a product to the next step
in the chain (more connected with re-seller and consumer part)
Three basic functions of intermediaries - Answers -✔✔ transactional, logistical, and
facilitating
How do intermediaries make selling goods/services more efficient? - Answers -✔✔
They minimize the number of sales contracts necessary to reach a target market
Transactional Function - Answers -✔✔ buying, selling, and risk taking
Logistical function - Answers -✔✔ assorting (providing variety), storing, sorting
(breaking down into bulk), and transporting
Facilitating Function - Answers -✔✔ financing, grading, and marketing information and
research
What are other benefits intermediaries provide to consumers? - Answers -✔✔ Time,
Place, Form, Possession
Direct Channel - Answers -✔✔ Producer to consumer
What do Direct channels do? - Answers -✔✔ - Producer can replicate or improve upon
value added by other channel members
- Improve sales & profits
- Better control of brand and customer relationships
When does the retailer add value? - Answers -✔✔ - Can better handle small
transactions
- Local/on-site service is required
- Tactile product (needs to be touched, taste)
,Indirect channel (C) - Answers -✔✔ Producer --> Wholesaler --> Retailer --> Consumer
(when retailer doesn't want to do business directly with you)
When is a wholesaler required? - Answers -✔✔ When widespread distribution is
desired/required for large retailers, mom-and-pop stores, convenience stores
When do wholesalers provide services that the producer does not want to take on? -
Answers -✔✔ Retailers buy in small quantities and retailers require service, training,
etc.
How does an agent add value to the distribution channel? - Answers -✔✔ - similar to
previous channels in that widest distribution possible is desired with minimum financial
risk or outlay (large chains through vending machines)
- Geographic expansion with minimal financial outlay
Direct Channel (e) - Answers -✔✔ Producer to Organizational buyer
In a direct channel (b2b), when does the buyer insist? - Answers -✔✔ when product is
expensive and/or requires significant training or service
In a direct channel (b2b), when does the producer prefer? - Answers -✔✔ better
margins, more customer/brand control
What is the value of indirect channel (f) ? - Answers -✔✔ - simple and/or standardized
items requiring little training or service
- easily stocked and bought in small lots
- rapid delivery times required
What are the B2B intermediaries? - Answers -✔✔ Industrial Distributor and MFG
Agents
What is an industrial distributor? - Answers -✔✔ Independent business that TAKES
TITLE to business products & carries inventory
What is a manufacturers' agent? - Answers -✔✔ Independent businessperson who
sells on commission, products of several products
, What happens when you give up the title? - Answers -✔✔ You lose control of the price
What is the value of indirect channel (g)? - Answers -✔✔ - expand geographic
coverage with minimal investment
- take advantage of agent's complimentary lines to more easily reach potential
customers
What is the value of indirect channel (h)? - Answers -✔✔ Expand geographic coverage
of seasonal products with minimal investment
Direct marketing channels: - Answers -✔✔ Allows consumers to buy products by
interacting with various advertising media without a face-to-face meeting with a
salesperson
What are examples of direct marketing channels? - Answers -✔✔ Direct-mail sales,
catalog sales, mail-order selling, telemarketing, interactive media, televised home
shopping
Multichannel Marketing: - Answers -✔✔ The blending of different communications and
delivery channels that are mutually reinforcing in attracting, retaining, and building
relationships with consumers who shop and buy in traditional intermediaries and online
Dual Distribution: - Answers -✔✔ An arrangement whereby a firm reaches different
buyers by employing two or more different types of channels for the same basic product
and target market
Strategic channel alliance: - Answers -✔✔ One firm's marketing channel is used to sell
another firm's product?
Starbucks agreement with Pepsi to distribute Frappucciono drinks to retailers and
others is an example of.... - Answers -✔✔ Strategic channel alliance
What are the factors that affect channel choice, selection, and management? - Answers
-✔✔ - Environmental
- Consumer
- Product
- Company
Intensive Distribution coverage: - Answers -✔✔ Means that a firm tries to place its
productive and service in as many outlets as possible
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