Danielle MKTG 361 Final Exam Test bank
Sophie made pies and sold them for her food truck to local businesses. This is an examples of a(n):
Direct Marketing Channel
Which element of the marketing mix specifically deals with supply chain management?
Students of marketing often overlook or underestimate the importance of place in the marketing mix because
It happens behind the scenes
In marketing’s four Ps, place refers to all activities required to get
The right products to the right customer when that customer wants it.
Dawn works for a firm that buys products directly from the manufacturer and resells them to retailers, who then sell the products to consumers. Dawn works for a
Stores like Home Depot and Costco act as wholesalers when they
Sell to contractors or restaurant owners
When Costco sells to consumers directly, it acts as a _______; when it sells to other businesses, such as a restaurant owner, it acts as a ___________
A(n) _____ is used in the shipment of products directly to customers
Naomi knows she has to order her store’s Christmas holiday merchandise in April to ensure delivery before the holiday season. Naomi is concerned with the supply chain management goal of
Providing products at the right time.
Manufacturers use wholesalers and retailers because
They create value for customers through convenience and cost savings.
A ____ is a facility for the receipt, storage, and redistribution of goods to company stores.
A distribution center is typically operated by
Retailers, manufacturers, or distribution specialists.
Having no intermediaries between the buyer and seller is a defining characteristic of a(n) _____ marketing channel.
In a(n) ______ marketing channel, one or more intermediaries work with manufacturers to provide goods and services to customers.
Trisha makes purses out of old blue jeans and sells them to customers at local craft fairs. What type of marketing channel does this represent?
A local furniture store buys furniture from various manufacturers and resells the furniture to its customers. What type of marketing channel does this represent?
When a customer purchases a DVD at a Best Buy Electronics store, all of the following information flows in the supply chain are started except
The purchase is added to the customer’s purchasing habit records
Steven managed an auto parts store in the 1990’s. At that time, stockouts–failure to have the parts auto mechanics needed to do their work that day-increased the likelihood of the mechanics becoming customers of competing auto supply stores. To avoid this problem and keep his business customers, Steven most likely
Stockpiled inventory, adding to the cost of of providing auto parts.
In addition to merchandise and payments, information flows throughout a supply chain. Which of the following is not a good characterization of the flow of information in a supply chain?
Typically, manufacturers and retailers exchange business document through a(n) ______ system, the computer-to-computer exchange of business documents from a retailer to a vendor and back.
Electronic data interchange
Flora is frustrated with her company’s supply chain management information system. She wants to be able to receive sales data, initiate purchase orders, send and receive invoices, and receive returned merchandise documentation. Flora needs a(n)
Electronic data interchange system
Today, when a customer orders merchandise from an online vendor, the vendor usually sends an immediate order confirmation message by e-mail. Usually within a day or two, a second message arrives stating that the order is in the mail. This second message is a type of
Advanced shipping notice
Roland has just received notification from a vendor that his clothing merchandise order has been processed and dispatched. Roland has just received a(n)
Advanced shipping notice
In vendor-managed inventory systems,
Retailers send sales information to the manufacturer.
Which of the following is not an advantage of using a distribution center?
Customers know they are dealing with more sophisticated and financially well-off operation if the firm uses a distribution center.
Which of the following is not one of the activities carried on in a distribution center?
Distributing paychecks and paystubs for retail employees.
Ted is glad his company finally converted to an RFID system. Now, he no longer needs to go through all the new goods to make sure what they order was what they received. Ted is responsible for _____ in his company.
Radio frequency identifcation tags are
Tiny computer chips that transmit information about a container’s contents.
______ is when vendors ship merchandise prepackaged in the quantity required for each store to the distribution center.
In a ______ distribution center, merchandise moves from vendor’s trucks to retailers’ delivery trucks in a matter of hours.
Merchandise that arrives in the delivery truck ready to be sold is considered
Colin has just received a delivery from the company’s distribution center. He opens the containers and finds the popcorn and snacks are all bar-coded and priced and the package includes an end-of-the-aisle display rack. Colin has received a(n) ______ shipment
Some retailers require their suppliers to ship merchandise _____, thus eliminating the time and expense associated with ticketing and marking.
Getting merchandise floor-ready entails
Ticketing and marking
Retailers often perform ticketing and marking functions in their distribution centers rather than in their retail stores because ticketing and marking is often
inefficient and expensive
Each time a politician or celebrity writes a book, bookstores can expect at least some customers to want the book, but whether or not it will become a best seller is less certain. The bookstore’s primary inventory management challenge is
having enough books to satisfy customer demands versus the cost of having the inventory on the shelves.
In retailing, a just-in-time delivery system is called ____ system
Quick Response (QR)
____ systems are designed to deliver smaller shipments of merchandise on a more frequent basis to retailers.
Because manufacturers with JIT systems produce merchandise closer to the time of sale, they can
Reduce inventories needed to satisfy retailers’ demand, since it is no longer necessary to manufacture far in advance and stockpile goods.
Especially in the fashion industry where styles and trends change rapidly, a quick response system can
Align deliveries more closely with actual sales
_____ channel conflict occurs when there is disagreement or discord among members at the same level in a marketing channel, such as two competing retailers or two competing manufacturers
_____ channel conflict occurs when members of the same marketing channel, for example, manufacturers, wholesalers, and retailers are in disagreement or discord.
Marketing channels and supply chains comprise various buying entities that form relationships with one another. The basic motivating factor in these interactions is
Each party wants something from the others.
Although conflict is likely to occur in any supply chain, it is generally more pronounced when
The supply chain members are independent entities
Yesterday Lorinda overheard a surprisingly unpleasant encounter between the manager of the hardware store where she works and a sales rep who sells a well-known line of tools. The rep insisted that his tools should be prominently displayed and that a better assortment would mean more sales. The manager had other plans and told him so, and the conversation turned into a loud argument. What Lorinda observed was an example of
In a(n) _____ marketing channel, none of the participants have any control over the others.
The three types of vertical marketing systems are:
Administered, Contractual, and Corporate
In a(n) _____ marketing channel, several independent members each attempt to satisfy their own objectives and maximize their profits, often at the expense of the other members.
In a vertical marketing system, if the system is _____, the less likely conflict will occur.
In an administered vertical marketing system,
there is no common ownership, and the dominant member has significant power to impose its ideas and objectives.
Franchising involves a(n) ____ vertical marketing system.
In a corporate vertical marketing system,
participants–such as warehouses, transportation companies, and retail outlets–are typically owned by a parent company to ensure harmonious relations throughout the supply chain.
Felicia had just taken over her family’s business after spending ten years in the marketing department of a large corporation. She met with a representative from one of her firm’s biggest customers, who told her, “We should think about how we can make the pie bigger rather than fighting over the size of the slices.” She had expected a more cutthroat approach rather than this call for a
Which of the following is not required to build a successful strategic relationship?
Creation of a joint venture
If a firm declared that it wanted to develop a strategic relationship, but was unwilling to commit funds or any effort to make it succeed, there would be an obvious lack of
TT Toys manufacturers toys. The company recently started buying paint for its toys from a Chinese firm. This Chinese company is part of TT Toys’
A(n) _____ is the set of institutions that transfer the ownership of and move goods from the point of production to the point of consumption.
Which of the following is a true statement about distribution centers?
They enable retailers to carry less merchandise in individual stores.
A(n) ___ is a supply chain whose members act like a unified system.
Vertical Marketing System
A(n) ____ is a document used by a forklift driver indicating how much of each item to get from specific storage areas.
When Cynthia’s Boutique receives dresses, they already have price tags and are on hangers. Cynthia’s Boutique receives _____ merchandise.
When Joe’s Chicken Shack wants chicken delivered in smaller batches more frequently, it offers its distributors an incentive in the form of special bonuses to change their schedules. Joe’s demonstrates which kind of power?
____ power is based on getting a channel member to behave in a certain way because of a contractual agreement.
When her company’s dry goods deliveries were late for the third time, Melissa withheld payment from her supplier until it was back on schedule. This is an example of ____
The most common type of contractual vertical marketing system is a
When supply chain members view their goals and ultimate success as intricately linked, or _____, they develop deeper long-term relationships.
In a retail supply chain, the _____ records the purchase information and electronically sends it to the corporate office
The local auto supply store gets merchandise delivered to it by its manufacturers as soon as it has a need, reducing stockouts with minimal inventory. This demonstrates the concept of
Manufacturers trying to implement a just-in-time delivery system need to start with
Knowledge of customer demand
After installing an electronic data interchange, Carmella’s gift ship was able to reduce____, the amount of time between the recognition that an order needs to be placed and the arrival of the needed merchandise
The amount of time between the recognition that an order needs to be placed and the arrival of the needed merchandise at the seller’s store to be available for sale is referred to as
One of the benefits of EDI is that it can reduce lead time, which is
the time between the decision to place an order and the receipt of the merchandise.
After installing a(n) ___ in its JIT system, Chocolate Tree (retail chocolate store) was able to reduce lead time for merchandise orders.
Electronic data interchange system
Shorter lead time allow retailers
To reduce the needed level of inventories, so the retailer can easily forecast its demand.
With more frequent shipments associated with Quick Response systems, a retailers is
More likely to have what customers want.
While JIT systems have many benefits, they
Make the logistics function more complicated.
Leona is the logistics manager for the Barnes and Noble bookstore chain. She is weighing the many benefits of the company’s JIT system, but will need to consider that JIT inventory management systems increase ______ costs
From a retailer’s perspective, a(n) ____ is helpful in order to know exactly what will arrive in a particular shipment from a supplier
ASN (Advanced Shipping Notice)
Where does retailing fall in the supply chain?
At the end
Retailing is the primary activity in all of the following situations except
Transporting pallets of Daisy brand dairy products
Natalie represents a manufacturer who makes unique, high-end hats. When making a recommendation about potential retail partners, what should be Natalie’s first consideration?
How likely it is for certain retailers to carry this product?
Retailing is defined as the set of business activities that
add value to products and services sold to final consumers.
Which of the following is not one of the typical outlets used by retailers?
Business-to-business request for proposals (RFPs)
The key factor distinguishing retailers from other members of the supply chain is that
They sell to customers for their personal use.
Wholesalers sell to all of the following except
Which of the following is not one of the broad factors manufacturers must consider when establishing a strategy for getting their products into the hands of the ultimate customer?
Lowering production costs
Aaron has designed innovative accessories for hard-core bicycling enthusiasts. He knows where and how he will make them, and he needs to turn his attention to getting the products to the customers. As he chooses retail partners, which of the following is the least important in this process?
Encouraging new bicycling enthusiasts
In the past, ____ controlled supply chains.
Today, _____ dominate supply chains.
Today, retailers like Walmart, Home Depot, and Kroger dictate to their suppliers all of the following except
Which competitors they should collaborate with.
Knowing what customers expect is essential. Retailers need to know which manufacturers their customers prefer, while manufacturers need to know
Manufacturers must know where their target customers expect to find their products, or they will not know which retailers to consider as partners.
Generally, the larger and more sophisticated the channel member, the less likely that it will
Use supply chain intermediaries to perform channel functions that they could do themselves.
John used to work for a large, well-known retailer. He left that company to work for a much smaller company, and in doing so, he discovered that the channel functions were handled very differently in the smaller firm. Looking back at his experience, he noticed that larger firms
Perform many different channel functions themselves.
Distribution intensity is commonly divided into three levels:
Intensive, Exclusive, and Selective
Some companies want to get their products into as many outlets as possible, understand that the more exposure a product gets, the more it will sell. If this is consistent with the company’s overall strategy it will choose ____ distribution
When Creative Pen Company designed a new pen that was particularly comfortable to use, it wanted to literally get the pen in the hands of as many consumers as possible. Creative Pen will probably choose _____ distribution
Anbinh Fashions is launching a new line of one-of-a-kind designer jewelry. Each piece is handcrafted, and production volumes will be very low. To emphasize the unique nature of this jewelry, Anbinh Fashions will most likely choose _____ distribution
Heartland Plantation produces organic food products like stone-ground grits and wild rice. The company has limited production capacity and wants to carefully control where its products are sold. Heartland will likely choose _____ distribution.
A(n) _____ distribution intensity helps a seller maintain a particular image and control the flow of merchandise into an area.
If a manufacturer wasn’t happy with either intensive or exclusive distribution, a logical choice, which incorporates some features from both would be _____ distribution
Full-line discount, category specialist, and specialty stores are all types of _____ retailers.
If a manufacturer had a full range of products, in a number of different container sizes, which kind of store would the company be least likely to choose as a retailing partner?
Paul’s family has owned and operated a small chain of conventional supermarkets for many years. Competition from a variety of other kinds of retailers has adversely affected the business. To address the new competitive reality, Paul wants to apply what he recently learned as a marketing major and he has recommended that his family’s business should
Emphasize fresh, locally sourced perishables
Supercenters are large stores that combine a supermarket with a full-line discount store. ______ dominates this category with the vast majority of supercenters in the U.S.
Compared to conventional supermarkets, warehouse clubs have
a lower level of service
Which of the following represents the best reason a manufacturer of high-end products might consider selling products in a warehouse club?
The manufacturer overestimated demand or has a great deal of returned merchandise from other retailers.
_____ are combating competitive pressures by offering fresh food and healthy fast food, tailoring assortments to local markets, opening locations closer to where consumers work and shop, and adding new services.
Brian, an industrial equipment sales rep, purchases a quick snack to eat on the way to work. He buys lunch while on the road visiting customers, and grabs bread and milk on his way home when he stops to buy gas. Brian probably does the majority of his shopping at a
If you walk into a(n) ____, you will likely find a broad variety of merchandise, deep assortment and customer service, with everything divided into what appears to be a collection of specialty shops.
Kohl’s, JCPenney and Bloomingdales are examples of
_____ are combating competitive pressures by increasing the amount of exclusive and private-label merchandise they sell and expanding their online presence.
Retailers that offer a broad variety of merchandise, limited services, and low prices are known as
Full-line discount stores, such as Walmart and Target
If you’re a manufacturer and you want to showcase your product in a store that has a narrow but deep selection of merchandise and where sales associates can assist customers with their selections, you’d most likely choose
A specialty store
Retailers use _____ to get customers into their stores
Mass Media advertising
For retailers, promotion refers to
both their in-store environment and their media communications
Kim wants to maximize sales to the customers who walk into her store. Of the following, Kim will most likely focus on
______ are subtle forms of promotion that encourage shopping in retailers’ stores.
Store credit cards and gift cards
Retailers’ coupons, rebates, and online discounts are types of
Unusual and exciting displays like Bass Pro Shops’ climbing wall and stocked aquariam are examples of
The basic goal of integrated marketing communications is to
communicate the value proposition to the target market
Especially for marketers with new products or services, IMC is needed because
Consumers are unlikely to buy products they are not aware of.
Integrated Marketing communications represents the ____ element in the four P’s of a firm’s marketing mix
Integrated marketing communications include all of the following except
Supply Chain management
Carlos owns a chain of retail electronic stores. He is evaluating how he allocates his firm’s IMC budget. He receives offers from a variety of advertising media, spends money on his firm’s public relations efforts, and is considering electronic media alternatives. Carl must recognize that each IMC alternative
is part of the whole
The three elements of any IMC strategy are:
The consumer, the channels, and evaluation of the results
As the number of communication media has increased, the task of understanding how best to reach target customers has
Become more complex.
The IMC communication process includes all of the following except
The IMC communication process begins with _____ who (which) must be clearly identified
In the IMC communication process, the _____ encodes the marketing communication message
_____ means converting the sender’s ideas into a message, which could be verbal, visual or both
In integrated marketing communications, encoding involves
the transmitter converting the sender’s ideas into a message
Though a picture may be worth a thousand words, the most important facet of encoding is
not what is sent, but rather what is received
In the IMC communication process, the ____ is the medium that carries the message
Which of the following is not a communication channel used in the IMC process?
The right communication channel to use in the IMC is
The one that will connect to the desired recipients.
In the IMC communication process, the ____ is the person who reads, hears, or sees and processes the message being communicated
The sender of an IMC message hopes the receivers are
the people for whom the message was originally intended.
_____ refers to the process by which the receiver interprets the sender’s message
If you ever watched a television commercial and at the end of the message wondered what they were promoting, you may have had trouble ____ the IMC message
____ is any interference in the IMC process
In the IMC process, noise can occur as a result of lack of message clarity, a poor choice of medium, or
Which of the following is not one of the steps in the AIDA model?
In simple terms, the AIDA model is known as the _____ model
Think, feel, do
In the AIDA model, awareness leads to
Interest, which hopefully leads to desire and then action
In the AIDA model, the think stage is the _____ stage
_____ refers to a potential customer’s ability to recall that the brand name is a particular type of retailer, product or service
Even the best marketing communication can be wasted if the sender does not first
Gain the attention of the consumer.
Cheryl asked Nadia to help her buy some aftershave for her boyfriend. Nadia was going through a list of different brand names, when Cheryl stopped her and said, “I recognize that one.” Marketers call this
In the AIDA model, the do stage is the ____ stage.
The highest level of awareness occurs when customers mention a specific brand name when asked about a product or service. Marketers call this
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