A(n)________ consists of independent firms at different levels of production and distribution integrating their programs on a contractual basis to obtain more economies or sales impact than they could achieve alone.

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A contractual VMS is a type of vertical marketing system in which independent firms at different levels of production and distribution come together on a contractual basis to integrate their programs to achieve more economies of scale or sales impact than they could achieve alone. This type of VMS is characterized by a formal contract that outlines the terms and conditions of the agreement between the participating firms. Examples of contractual VMS include franchise systems and dealer networks.

A(n)________ Consists of Independent Firms at Different Levels of Production