Question 1

Which of the following encompasses all of a firm's activities to create products and services that in turn create value for the consumer and make a profit for the company?
A)the vertical marketing system
B)the supply chain
C)the value chain
D)the conventional marketing system
E)the channel of distribution

Accepted Answer

The value chain encompasses all activities a firm undertakes to create products and services that provide value to consumers and generate profit for the company.

Question 2

Nita can visit her local supermarket and buy a dozen roses,a gallon of milk,two birthday cards,a bag of cat litter,and a pan for roasting a turkey.This illustrates how channels of distribution benefit consumers by .
A)managing relationships
B)creating atmospherics
C)managing logistics
D)managing knowledge
E)creating assortments

Accepted Answer

Creating assortments refers to the ability of retailers to offer a variety of products in one location, allowing consumers to purchase different items conveniently in a single trip.

Question 3

In business- to- business channels,the functions of a merchant wholesaler are performed by a(n) .
A)commission merchant
B)business retailer
C)industrial distributor
D)sales office
E)merchant broker

Accepted Answer

An industrial distributor is a type of merchant wholesaler that buys products from manufacturers and sells them to businesses, performing functions such as storage, sales, and delivery.

Question 4

Each department in a company that carries out value- creating activities can be thought of as a link in the company's .
A)vertical marketing system
B)value chain
C)supply chain
D)enterprise resource planning system
E)insourcing chain

Accepted Answer

The value chain is a series of activities that a company carries out to create value for its customers. Each department in the company that carries out value-creating activities can be thought of as a link in the value chain.

Question 5

Which of the following is the term for the firms and individuals who help move a product to the consumer or the business user?
A)third- party logistics providers
B)strategic allies
C)channel intermediaries
D)channel leaders
E)enterprise resource planners

Accepted Answer

Channel intermediaries are firms or individuals that assist in moving a product from the producer to the consumer or business user, acting as a link in the distribution chain.

Question 6

Which of the following activities in the value chain involves the transformation of materials into final product form,such as by machining,packaging,and assembly?
A)outbound logistics
B)operations
C)marketing and sales
D)service
E)inbound logistics

Accepted Answer

Operations involve the transformation of materials into final product form.

Question 7

Which of the following are intermediaries that receive fees for facilitating transactions in markets such as real estate,food,and used equipment in which there are a lot of small buyers and sellers?
A)commission merchants
B)sale mediators
C)merchandise brokers
D)manufacturers' agents
E)selling agents

Accepted Answer

Merchandise brokers are intermediaries that facilitate transactions between buyers and sellers in markets with many small participants, earning fees for their services.

Question 8

Which of the following is a logistics activity that involves developing and implementing a process to ensure the firm always has goods available to meet customers' demands-no more and no less.
A)supply chain supervision
B)distribution implementation
C)inventory control
D)materials handling
E)order processing

Accepted Answer

Inventory control is the logistics activity focused on maintaining the optimal amount of stock to meet customer demand without overstocking or understocking.

Question 9

A commission merchant would most likely sell which of the following?
A)clothing and textiles
B)convenience goods such as gum and candy
C)extractive materials such as coal and iron
D)real estate
E)agricultural products

Accepted Answer

Commission merchants typically deal with agricultural products, acting as intermediaries who sell goods on behalf of producers.

Question 10

Which of the following is NOT a true statement about conventional marketing systems?
A)Members of conventional marketing systems are not working toward the same broad goals.
B)Relationships between members of conventional marketing systems are limited to simply buying and selling from one another.
C)Members of conventional marketing systems work independently of one another.
D)Most conventional marketing systems are highly successful.
E)Conventional marketing systems are multilevel distribution channels.

Accepted Answer

The answer of Which of the following is NOT a...

Question 11

A brand of variety stores is part of a wholesaler- sponsored voluntary chain.This means these retailers are members of a(n)vertical marketing system (VMS).
A)administered
B)horizontal
C)corporate
D)contractual
E)conventional

Accepted Answer

A wholesaler-sponsored voluntary chain is a type of contractual vertical marketing system (VMS) where independent retailers band together under the sponsorship of a wholesaler to achieve economies of scale and greater marketing impact.

Question 12

Chewing gum is stocked in many outlets in the same market or community; in fact,it is placed in as many outlets as possible.This is an example of distribution.
A)disintermediated
B)selective
C)intensive
D)dual
E)exclusive

Accepted Answer

Intensive distribution aims to place products in as many outlets as possible to maximize availability and sales, which is typical for products like chewing gum.

Question 13

What are the three major types of vertical marketing systems?
A)contractual,corporate,and independent
B)administered,independent,and franchised
C)corporate,contractual,and administered
D)corporate,contractual,and chain
E)corporate,franchised,and task

Accepted Answer

The three major types of vertical marketing systems are corporate, contractual, and administered. These systems are designed to improve efficiency and control in the distribution channel.

Question 14

In a ,two or more companies at the same channel level join together to develop a new marketing opportunity.
A)conventional marketing system
B)corporate VMS
C)multiple distribution system
D)horizontal marketing system
E)franchise

Accepted Answer

A horizontal marketing system involves two or more companies at the same channel level joining together to pursue a new marketing opportunity.

Question 15

The producer- retailer- consumer channel is .
A)a rarely used channel form
B)the shortest indirect channel
C)the shortest direct channel
D)the most efficient channel
E)also referred to as a triple channel

Accepted Answer

The producer-retailer-consumer channel is the shortest indirect channel.

Question 16

Which of the following is most likely exclusively distributed?
A)Coca- Cola
B)BMW automobiles
C)Diesel blue jeans
D)Prairie Farms yogurt
E)Bazooka bubble gum

Accepted Answer

BMW automobiles are typically distributed through exclusive dealerships, meaning they are sold through a limited number of authorized dealers to maintain brand prestige and control over the sales process.

Question 17

To a producer of goods,a greater number of channel levels means .
A)multiple distribution systems
B)less distance between producer and end consumer
C)higher taxes
D)less control
E)more creativity

Accepted Answer

A greater number of channel levels typically means that there are more intermediaries between the producer and the end consumer, which can result in less control over the distribution process.

Question 18

Through the practice of insourcing,a company brings in an external company to run its .
A)essential operations
B)value proposition
C)nonessential operations
D)facilitating functions
E)human resource management

Accepted Answer

The answer of Through the practice of insourcing,a company brings...

Question 19

Which stage of activity in the value chain involves activities that enhance or maintain the value of the product,such as by installation or repair?
A)services
B)operations
C)outbound logistics
D)marketing and sales
E)procurement

Accepted Answer

The services stage of the value chain involves activities that enhance or maintain the value of the product, such as installation, repair, and maintenance services.

Question 20

Which of the following is most likely intensively distributed?
A)Coca- Cola
B)BMW automobiles
C)Nike running shoes
D)Diesel blue jeans
E)Olympus digital cameras

Accepted Answer

Coca-Cola is a product that is intensively distributed, meaning it is available in a wide variety of locations such as supermarkets, convenience stores, vending machines, and restaurants to maximize consumer access.

Quiz 15: Deliver Value Through Supply Chain Manage-Ment: Channels of Distribution and Logistics

Which of the following encompasses all of a firm's activities to create products and services that in turn create value for the consumer and make a profit for the company?

Nita can visit her local supermarket and buy a dozen roses,a gallon of milk,two birthday cards,a bag of cat litter,and a pan for roasting a turkey.This illustrates how channels of distribution benefit consumers by .

In business- to- business channels,the functions of a merchant wholesaler are performed by a(n) .

Each department in a company that carries out value- creating activities can be thought of as a link in the company's .

Which of the following is the term for the firms and individuals who help move a product to the consumer or the business user?

Which of the following activities in the value chain involves the transformation of materials into final product form,such as by machining,packaging,and assembly?

Which of the following are intermediaries that receive fees for facilitating transactions in markets such as real estate,food,and used equipment in which there are a lot of small buyers and sellers?

Which of the following is a logistics activity that involves developing and implementing a process to ensure the firm always has goods available to meet customers' demands-no more and no less.

A commission merchant would most likely sell which of the following?

Which of the following is NOT a true statement about conventional marketing systems?

A brand of variety stores is part of a wholesaler- sponsored voluntary chain.This means these retailers are members of a(n) vertical marketing system (VMS) .

Chewing gum is stocked in many outlets in the same market or community; in fact,it is placed in as many outlets as possible.This is an example of distribution.

What are the three major types of vertical marketing systems?

In a ,two or more companies at the same channel level join together to develop a new marketing opportunity.

The producer- retailer- consumer channel is .

Which of the following is most likely exclusively distributed?

To a producer of goods,a greater number of channel levels means .

Through the practice of insourcing,a company brings in an external company to run its .

Which stage of activity in the value chain involves activities that enhance or maintain the value of the product,such as by installation or repair?

Which of the following is most likely intensively distributed?