Question 1

A __________ is essentially a sequence of linked suppliers and customers in which every customer is, in turn, a supplier to another customer until a finished product reaches the ultimate consumer or industrial user.

Accepted Answer

A)  logistical flow
B)  demand chain
C)  supplier-customer alliance
D)  supply chain
E)  supply pipelineF) B) and C)
G) A) and E)

Question 2

Any intermediary with legal authority to act on behalf of the manufacturer is referred to as

Accepted Answer

A)  a dealer.
B)  an agent.
C)  a retailer.
D)  a wholesaler.
E)  a distributor.F) A) and D)
G) C) and D)

Question 3

Walmart can obtain cooperation from manufacturers in terms of product specifications, price levels, and promotional support, given its position as the world's largest retailer. Walmart is an example of

Accepted Answer

A)  a service-sponsored retail system.
B)  an administered vertical marketing system.
C)  a retailer-sponsored cooperative.
D)  an administered cooperative system.
E)  a manufacturer-sponsored cooperative.F) B) and E)
G) B) and C)

Question 4

Two sources of horizontal conflict are common, including when

Accepted Answer

A)  a manufacturer decreases its distribution coverage in a geographical area from intensive to selective.
B)  disagreements arise over how profit margins are distributed among channel members.
C)  manufacturers believe wholesalers or retailers are not giving their products adequate attention.
D)  a channel member bypasses another member and sells or buys products direct.
E)  dual distribution causes conflict when different types of retailers carry the same brands.F) A) and D)
G) B) and D)

Question 5

The Federal Trade Commission and the Justice Department monitor channel practices that __________, create monopolies, or otherwise represent unfair methods of competition under the Sherman Act (1890)  and the Clayton Act (1914) .

Accepted Answer

A)  suggest patent infringement
B)  restrain competition
C)  connect channel members
D)  use coercive or suggestive advertising
E)  manipulate public opinionF) A) and E)
G) A) and B)

Question 6

Several artists in Charleston, South Carolina, show and sell their work in an art gallery downtown. The gallery is owned by an art lover who does not buy the paintings but displays those from other artists. She only collects a percentage on each piece sold. In terms of the marketing channel, the gallery is

Accepted Answer

A)  an ultimate consumer.
B)  a manufacturer.
C)  a wholesaler.
D)  an agent.
E)  a dealer.F) D) and E)
G) A) and B)

Question 7

Dependability is the consistency of replenishment. This is important to all firms in a supply chain and to consumers. It can be broken into three elements: consistent lead time, safe delivery, and

Accepted Answer

A)  complete delivery.
B)  honest and accurate pricing.
C)  quality products.
D)  product warranties.
E)  a well-informed delivery staff.F) D) and E)
G) B) and C)

Question 8

Which of the following is an example of good communication between buyer and supplier?

Accepted Answer

A)  disintermediation
B)  selective distribution
C)  reverse logistics
D)  forward integration
E)  order status reportsF) C) and D)
G) A) and E)

Question 9

Firms that have designed a unique approach for performing a service and wish to profit by selling the franchise to others employ

Accepted Answer

A)  a customer-generated franchising system.
B)  a service-sponsored retail franchise system.
C)  a manufacturer-sponsored wholesale franchise system.
D)  a manufacturer-sponsored retail franchise system.
E)  an administered vertical marketing systems.F) B) and D)
G) None of the above

Question 10

In marketing channels for business products, an intermediary that performs a variety of marketing channel functions including selling, stocking, delivering a full product assortment, and financing is referred to as

Accepted Answer

A)  an agent.
B)  an industrial distributor.
C)  a wholesaler.
D)  a retailer.
E)  a channel captain.F) A) and B)
G) D) and E)

Question 11

Industrial distributors perform functions that are most like which intermediary in the consumer products marketing channel?

Accepted Answer

A)  manufacturers
B)  retailers
C)  agents
D)  wholesalers
E)  brokersF) B) and D)
G) B) and C)

Question 12

Assembling and protecting products at a convenient location to offer better customer service is an example of a __________ function.

Accepted Answer

A)  transactional
B)  facilitating
C)  grading
D)  risk-taking
E)  logisticalF) A) and B)
G) A) and E)

Question 13

The type of vertical marketing system that achieves coordination at successive stages of production and distribution by the size and influence of one channel member rather than through ownership is referred to as

Accepted Answer

A)  a corporate vertical marketing system.
B)  an integrated vertical marketing system.
C)  a contractual vertical marketing system.
D)  an administered vertical marketing system.
E)  an interactive vertical marketing system.F) A) and B)
G) A) and C)

Question 14

Logistics management refers to

Accepted Answer

A)  the practice of organizing the cost-effective flow of raw materials, in-process inventory, finished goods, and related information from point of origin to point of consumption to satisfy customer requirements.
B)  the integration and organization of information and logistics activities across firms in a supply chain for the purpose of creating and delivering products and services that provide value to ultimate consumers.
C)  the integration and organization of information and logistical activities that actively bring consumers together with sellers through the express use of agents and brokers.
D)  systems that are designed to reduce a retailer's lead time for receiving merchandise, which then lowers a retailer's inventory investment, improves customer service levels, and reduces logistics expense.
E)  proprietary computer and telecommunication technologies used to exchange electronic invoices, payments, and information among suppliers, manufacturers, wholesalers, and retailers.F) A) and E)
G) A) and D)

Question 15

An efficient consumer response system refers to

Accepted Answer

A)  an order replenishment system that maintains a 10 percent inventory rate at all times in order to guarantee there will never be stockouts.
B)  an online virtual inventory storage program that allows firms to enter in minute-by-minute information in order to avoid stockouts due to unforeseen environmental forces.
C)  a computer program that allows even the smallest manufacturer to manage its inventory system.
D)  an inventory management system that is designed to make the process of reordering and receiving products as simple as possible.
E)  an exclusive contractual agreement between delivery services such as FedEx or UPS to deliver expedited orders at a special low rate, regardless of the day and time.F) C) and E)
G) A) and E)

Question 16

A large company produces paint and other home decorating products. Its goal is to choose the best marketing channel arrangement that will give it the most control over supply sources. Which marketing channel system should this company choose?

Accepted Answer

A)  a contractual vertical marketing system
B)  an administered vertical marketing system
C)  a corporate vertical marketing system
D)  an integrated marketing system
E)  a corporate horizontal marketing systemF) C) and E)
G) B) and D)

Question 17

A marketing channel intermediary that purchases merchandise for resale at retail outlets is engaging in __________ function.

Accepted Answer

A)  a transactional
B)  a logistical
C)  a facilitating
D)  a risk-taking
E)  an assortingF) A) and B)
G) A) and C)

Question 18

Reductions in delivery times in both the marketplace and the supply chain have earned firms such as Toyota and Xerox a reputation as "time-based competitors." For Toyota and Xerox, logistics

Accepted Answer

A)  increases their customers' inventory levels.
B)  increases the number of steps in their manufacturing processes.
C)  includes the role of Toyota and Xerox as channel captains.
D)  creates time and place utility for their customers.
E)  does not influence their suppliers' supply chains.F) C) and E)
G) All of the above

Question 19

A(n)  __________ is an intermediary that sells to consumers.

Accepted Answer

A)  agent
B)  retailer
C)  wholesaler
D)  distributor
E)  brokerF) A) and E)
G) C) and D)

Question 20

Which buyer requirement would be most important in choosing a channel for a financial service for a consumer who is interested in setting up a retirement account?

Accepted Answer

A)  information
B)  context
C)  variety
D)  pre- and postsale services
E)  adaptationF) A) and D)
G) B) and E)

Exam 15: Managing Marketing Channels and Supply Chains

A large company produces paint and other home decorating products. Its goal is to choose the best marketing channel arrangement that will give it the most control over supply sources. Which marketing channel system should this company choose?

Correct Answer
verified

Reductions in delivery times in both the marketplace and the supply chain have earned firms such as Toyota and Xerox a reputation as "time-based competitors." For Toyota and Xerox, logistics

Correct Answer
verified

A __________ is essentially a sequence of linked suppliers and customers in which every customer is, in turn, a supplier to another customer until a finished product reaches the ultimate consumer or industrial user.

Correct Answer
verified

Which buyer requirement would be most important in choosing a channel for a financial service for a consumer who is interested in setting up a retirement account?

Correct Answer
verified

Logistics management refers to

Correct Answer
verified

Assembling and protecting products at a convenient location to offer better customer service is an example of a __________ function.

Correct Answer
verified

An efficient consumer response system refers to

Correct Answer
verified

The type of vertical marketing system that achieves coordination at successive stages of production and distribution by the size and influence of one channel member rather than through ownership is referred to as

Correct Answer
verified

Which of the following is an example of good communication between buyer and supplier?

Correct Answer
verified

Dependability is the consistency of replenishment. This is important to all firms in a supply chain and to consumers. It can be broken into three elements: consistent lead time, safe delivery, and

Correct Answer
verified

Firms that have designed a unique approach for performing a service and wish to profit by selling the franchise to others employ

Correct Answer
verified

Any intermediary with legal authority to act on behalf of the manufacturer is referred to as

Correct Answer
verified

The Federal Trade Commission and the Justice Department monitor channel practices that __________, create monopolies, or otherwise represent unfair methods of competition under the Sherman Act (1890) and the Clayton Act (1914) .

Correct Answer
verified

Two sources of horizontal conflict are common, including when

Correct Answer
verified

In marketing channels for business products, an intermediary that performs a variety of marketing channel functions including selling, stocking, delivering a full product assortment, and financing is referred to as

Correct Answer
verified

Walmart can obtain cooperation from manufacturers in terms of product specifications, price levels, and promotional support, given its position as the world's largest retailer. Walmart is an example of

Correct Answer
verified

A marketing channel intermediary that purchases merchandise for resale at retail outlets is engaging in __________ function.

Correct Answer
verified

Industrial distributors perform functions that are most like which intermediary in the consumer products marketing channel?

Correct Answer
verified

Correct Answer
verified

A(n) __________ is an intermediary that sells to consumers.

Correct Answer
verified

Exam 15: Managing Marketing Channels and Supply Chains

A large company produces paint and other home decorating products. Its goal is to choose the best marketing channel arrangement that will give it the most control over supply sources. Which marketing channel system should this company choose?

Correct AnswerverifiedShow Answer

Reductions in delivery times in both the marketplace and the supply chain have earned firms such as Toyota and Xerox a reputation as "time-based competitors." For Toyota and Xerox, logistics

Correct AnswerverifiedShow Answer

A __________ is essentially a sequence of linked suppliers and customers in which every customer is, in turn, a supplier to another customer until a finished product reaches the ultimate consumer or industrial user.

Correct AnswerverifiedShow Answer

Which buyer requirement would be most important in choosing a channel for a financial service for a consumer who is interested in setting up a retirement account?

Correct AnswerverifiedShow Answer

Logistics management refers to

Correct AnswerverifiedShow Answer

Assembling and protecting products at a convenient location to offer better customer service is an example of a __________ function.

Correct AnswerverifiedShow Answer

An efficient consumer response system refers to

Correct AnswerverifiedShow Answer

The type of vertical marketing system that achieves coordination at successive stages of production and distribution by the size and influence of one channel member rather than through ownership is referred to as

Correct AnswerverifiedShow Answer

Which of the following is an example of good communication between buyer and supplier?

Correct AnswerverifiedShow Answer

Dependability is the consistency of replenishment. This is important to all firms in a supply chain and to consumers. It can be broken into three elements: consistent lead time, safe delivery, and

Correct AnswerverifiedShow Answer

Firms that have designed a unique approach for performing a service and wish to profit by selling the franchise to others employ

Correct AnswerverifiedShow Answer

Any intermediary with legal authority to act on behalf of the manufacturer is referred to as

Correct AnswerverifiedShow Answer

The Federal Trade Commission and the Justice Department monitor channel practices that __________, create monopolies, or otherwise represent unfair methods of competition under the Sherman Act (1890) and the Clayton Act (1914) .

Correct AnswerverifiedShow Answer

Two sources of horizontal conflict are common, including when

Correct AnswerverifiedShow Answer

In marketing channels for business products, an intermediary that performs a variety of marketing channel functions including selling, stocking, delivering a full product assortment, and financing is referred to as

Correct AnswerverifiedShow Answer

Walmart can obtain cooperation from manufacturers in terms of product specifications, price levels, and promotional support, given its position as the world's largest retailer. Walmart is an example of

Correct AnswerverifiedShow Answer

A marketing channel intermediary that purchases merchandise for resale at retail outlets is engaging in __________ function.

Correct AnswerverifiedShow Answer

Industrial distributors perform functions that are most like which intermediary in the consumer products marketing channel?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A(n) __________ is an intermediary that sells to consumers.

Correct AnswerverifiedShow Answer

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