MAR- 1011 Principles of Marketing Final Exam|complete questions and answers, A+ Guide

Final Exam Student name: Cristina Ayala # MAR- 1011 Principles of Marketing 1.Explain what a marketing channel is and why intermediaries are needed A marketing channel consist of individuals and firms involved in the process of making a product or service available for use or consumption by consumers or industrial users. Intermediaries, make possible the flow of products from producers to buyers by performing 3 basic functions. The transactional function involves buying, selling and risk taking because intermediaries stock merchandise in anticipation of sales. The logistical function involves the storing and dispensing of products. The facilitating function assists procedures in making products and services more attractive to buyers. The performance of these functions by intermediaries creates time, place, form and possession utility for consumers. 2. Discuss the issues that influence channel strategy When determining marketing channel strategy the supply chain manager must determine what market, product and product factors will influence the choice of channel. The manager must also determine the appropriate level of distribution intensity. The intensity distribution is aimed at maximum market coverage. Selective distribution is achieved by screening dealers to eliminate all but few in any single area. The most restrictive form of market coverage is exclusive distribution which entails only one or few dealers within a given area. 3. Define the terms supply chain and supply chain management, and discuss the benefits of supply chain management Management coordinates and integrates all of the activities performed by supply chain members into a seamless process form the source to the point of consumption. The benefits of supply chain management include reduced inventory, transportation, warehousing and packaging costs, improved customers service and higher revenues. 4. Identify the eight key processes of excellent supply chain management, and discuss how each of these processes impacts the end customer The 8 key process for excellent supply chain management focus on: a. Customer relationship management b. Customer service management c. Demand management d. Order fulfillment e. Manufacturing flow management f. Supplier relationship management g. Product development and commercialization h. Returns management