Question 1

_____ grants an independent operator the right to use a company's business model,techniques,and trademarks for a fee.

Accepted Answer

The answer of _____ grants an independent operator the right...

Question 2

Acquiring part or all of a foreign company is a common strategy for companies known as _____.

Accepted Answer

Acquiring part or all of a foreign company is a form of direct foreign investment, where a company invests directly in facilities to produce or market a product in a foreign country. This can include the acquisition of foreign firms.

Question 3

A channel that includes one or more _____ is known as an indirect channel.

Accepted Answer

The answer of A channel that includes one or more...

Question 4

____ grants a firm the right to use another firm's manufacturing processes,trade secrets,patents,and trademarks for a certain period of time.

Accepted Answer

The answer of ____ grants a firm the right to...

Question 5

Which of the following is the least risky global entry strategy?

Accepted Answer

Exporting is considered the least risky global entry strategy because it allows a company to enter a foreign market without the need for a significant investment in new production facilities or the complexities of establishing operations in a new country.

Question 6

A marketing channel offers little scope to companies to set itself apart from the crowd.

Accepted Answer

Marketing channels allow companies to differentiate themselves through various strategies such as unique distribution methods, customer service, and product availability, helping them stand out in a competitive market.

Question 7

The clout of the various organizations in its marketing channel can affect the contract terms.

Accepted Answer

The power or influence of organizations within a marketing channel can indeed impact the negotiation and terms of contracts, as those with more clout can often dictate more favorable terms.

Question 8

Cutting middlemen out of the channel is known as:

Accepted Answer

Disintermediation refers to the process of removing intermediaries or middlemen from a supply chain or distribution channel, allowing producers to sell directly to consumers.

Question 9

When creating a marketing channel,the key is to understand the different target markets for your product and designing the best channel to meet the needs of customers in each.

Accepted Answer

Understanding different target markets allows for the design of specific marketing channels that effectively meet the unique needs and preferences of each customer segment, enhancing customer satisfaction and sales.

Question 10

Identify and describe five channels utilized by firms attempting to enter a foreign market.

Accepted Answer

The answer of Identify and describe five channels utilized by...

Question 11

A(n)_____ is an entity that is created when two parties agree to share their profits,losses,and control with one another.

Accepted Answer

The answer of A(n)_____ is an entity that is created...

Question 12

Different organizations in a marketing channel are responsible for different value-adding activities.

Accepted Answer

Different organizations in a marketing channel, such as manufacturers, wholesalers, and retailers, each perform specific roles that add value to the product or service being delivered to the final consumer.

Question 13

_____ are intermediary firms that sell products that businesses or government departments and agencies use but don't resell.

Accepted Answer

Industrial distributors are intermediary firms that specialize in selling goods and products that their customers, such as businesses or government departments, use in their operations but do not resell. These distributors often provide a range of services including inventory management, product ordering, and logistics support tailored to the needs of their industrial customers.

Question 14

A push strategy primarily involves creating consumer demand.

Accepted Answer

A push strategy primarily involves pushing the product through marketing channels to final consumers, rather than creating consumer demand which is characteristic of a pull strategy.

Question 15

Explain some barriers for companies trying to expand their offerings into foreign markets.

Accepted Answer

The answer of Explain some barriers for companies trying to...

Question 16

A(n)_____ is formed when two parties agree to share their profits,losses,and control with one another in an economic activity they jointly undertake.

Accepted Answer

A joint venture is specifically defined as an arrangement where two or more parties come together to undertake economic activity, sharing profits, losses, and control. This is distinct from the other options which involve different forms of business arrangements and investments.

Question 17

Disintermediation involves granting an independent operator the right to use your manufacturing processes,trade secrets,patents,and trademarks for a certain amount of time in exchange for a fee.

Accepted Answer

Disintermediation refers to the removal of intermediaries in the supply chain, allowing producers to sell directly to their customers, rather than licensing out intellectual property.

Question 18

_____ is an agreement formed by two or more firms to deliver their products via a channel.

Accepted Answer

The answer of _____ is an agreement formed by two...

Question 19

Explain the advantages of using an intermediary.

Accepted Answer

The answer of Explain the advantages of using an intermediary....

Question 20

Explain why companies utilize multiple channels.

Accepted Answer

The answer of Explain why companies utilize multiple channels....

Quiz 8: Using Marketing Channels to Create Value for Customers