MKTG 2500 FINAL EXAM STUDY GUIDE EXAM QUESTIONS AND
ANSWERS WITH VERIFIED SOLUTIONS
Do most producers sell their goods directly to final users?
Yes
Which of the following would be considered an upstream partner in a company's
supply chain?
A firm that provides technical expertise in the production of a product
Introducing intermediaries into a distribution chain increases the number of
direct channel transactions between a manufacturer and its customers. T/F
False
Which of the following is true of a vertical marketing system?
It has one channel member owning all the other channel members or has contracts with
all other channel members
Which of the following is true of a conventional distribution channel?
It has each channel member acting as a separate business unit trying to maximize its
own profits.
Victoria's Closet, a manufacturer of bohemian-style clothing and accessories,
sells its products through its online web site, a catalog, and specialty boutiques
that target women. Which kind of channel arrangement does Victoria's Closet
employ to distribute its products?
Multichannel distribution system
,Managing upstream and downstream value-added flows of materials, final goods,
and related information among suppliers, the company, resellers, and final
consumers is known as ______________________
Supply Chain Management
A _________________ is made up of a company, its suppliers, distributors, and,
ultimately, customers who "partner" with each other to improve the performance
of the entire system.
Value delivery network
Kevin Pinker is a freelance computer programmer who writes computer
algorithms for companies such as SoftStar and BlueHill. SoftStar and BlueHill use
these algorithms to make specific programs based on online market research.
These programs are then sold to the online retailer, Abundon, which then sells
them to individual consumers and businesses. Which of the following is a
marketing intermediary in this chain?
Abundon
More than 80 percent of McDonald's restaurants worldwide are owned and
operated by franchises. This illustrates a ________________________ marketing
system.
Contractual Vertical
A channel arrangement in which two or more companies at one level join together
to follow a new marketing opportunity is referred to as a
__________________________
Horizontal marketing system
, Which of the following is true of an intensive distribution strategy?
It strives to make products available where and when consumers want them
The goal of any logistics system should be to maximize sales, not profits. T/F
False
Changes in technology and the explosive growth of direct and online marketing
are having a profound impact on the nature and design of marketing channels.
One major trend is toward __________ insofar as product or service producers
cut out intermediaries and go directly to final buyers or when radically new types
of channel intermediares displace traditional ones.
Disintermediation
High-end luxury brands like Bentley for cars, Louis Vuitton for handbags, and
Rolex for watches use ________ distribution, giving a limited number of dealers
the sole right to sell products in a specified geographic territory.
Exclusive
Grace and her fiance visit several furniture stores in and around their hometown
of Milwaukee. They use their smartphones to capture information about
manufacturers and pricing, and ultimately decide to purchase their favorite items
online. This is referred to as ___________
Showrooming
_________ includes all the activities involved in selling goods and services to
those buying them for resale or business use.
Wholesaling
ANSWERS WITH VERIFIED SOLUTIONS
Do most producers sell their goods directly to final users?
Yes
Which of the following would be considered an upstream partner in a company's
supply chain?
A firm that provides technical expertise in the production of a product
Introducing intermediaries into a distribution chain increases the number of
direct channel transactions between a manufacturer and its customers. T/F
False
Which of the following is true of a vertical marketing system?
It has one channel member owning all the other channel members or has contracts with
all other channel members
Which of the following is true of a conventional distribution channel?
It has each channel member acting as a separate business unit trying to maximize its
own profits.
Victoria's Closet, a manufacturer of bohemian-style clothing and accessories,
sells its products through its online web site, a catalog, and specialty boutiques
that target women. Which kind of channel arrangement does Victoria's Closet
employ to distribute its products?
Multichannel distribution system
,Managing upstream and downstream value-added flows of materials, final goods,
and related information among suppliers, the company, resellers, and final
consumers is known as ______________________
Supply Chain Management
A _________________ is made up of a company, its suppliers, distributors, and,
ultimately, customers who "partner" with each other to improve the performance
of the entire system.
Value delivery network
Kevin Pinker is a freelance computer programmer who writes computer
algorithms for companies such as SoftStar and BlueHill. SoftStar and BlueHill use
these algorithms to make specific programs based on online market research.
These programs are then sold to the online retailer, Abundon, which then sells
them to individual consumers and businesses. Which of the following is a
marketing intermediary in this chain?
Abundon
More than 80 percent of McDonald's restaurants worldwide are owned and
operated by franchises. This illustrates a ________________________ marketing
system.
Contractual Vertical
A channel arrangement in which two or more companies at one level join together
to follow a new marketing opportunity is referred to as a
__________________________
Horizontal marketing system
, Which of the following is true of an intensive distribution strategy?
It strives to make products available where and when consumers want them
The goal of any logistics system should be to maximize sales, not profits. T/F
False
Changes in technology and the explosive growth of direct and online marketing
are having a profound impact on the nature and design of marketing channels.
One major trend is toward __________ insofar as product or service producers
cut out intermediaries and go directly to final buyers or when radically new types
of channel intermediares displace traditional ones.
Disintermediation
High-end luxury brands like Bentley for cars, Louis Vuitton for handbags, and
Rolex for watches use ________ distribution, giving a limited number of dealers
the sole right to sell products in a specified geographic territory.
Exclusive
Grace and her fiance visit several furniture stores in and around their hometown
of Milwaukee. They use their smartphones to capture information about
manufacturers and pricing, and ultimately decide to purchase their favorite items
online. This is referred to as ___________
Showrooming
_________ includes all the activities involved in selling goods and services to
those buying them for resale or business use.
Wholesaling
