Understanding Modern Marketing Strategies and Their Evolution

. o | = |[ =] File Edit Tools Help Ggﬂew mMode v */ Delay ~ Q ;_] 1= < ,.‘ v , | ’ Question 1 of 20 > 1/71 = View Policies Show Attempt History Your Answer Correct Answer Many companies that have been around for a few decades will observe how the way they interact with their own buyers and sellers has changed from adversarial, price focused transactions to a fundamentally different kind of system characterized by more trust, lower costs and more flexibility. This more modern approach is known as relationship marketing. supply chain management. agile marketing. egalitarian management.

> File Edit Tools Help C@hew EMode ~ Py R [ 5 7| S v = 9 Question 2 of 20 < > 171 = View Policies Show Attempt History Your Answer Correct Answer Sherwin-Williams has more than 4,000 company-operated paint and coating stores in 120 countries. They do not franchise. This is an example of which type of vertical marketing system? Contractual VMS Corporate VMS Discrete VMS Administered VMS

v, o || & | = | "F | File Edit Tools Help Lg New [ Mode v () Delay ~ [ Lt:J el T / S 9 Question 3 of 20 < > View Policies Show Attempt History Your Answer Correct Answer Which of the following is a reason why producers might offer discounts to retailers? Reduce inventory or storage space Develop or repair important relationships Inventory control and promotional planning Eliminate waste and spoilage

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R File Edit Tools Help C_g New mMode v V gelay v H L:j > v P 7 v , B ’ Question 4 of 20 < > 171 View Policies Show Attempt History Your Answer Correct Answer Which of the following is NOT one of the ways retailers help get products to the customers? Retailers increase the variety of choices available to the consumer. Retailers reduce the number of transactions for manufacturers. Retailers provide moving, sorting and handling goods as they become specialists in this area. Retailers provide efficiency and effectiveness to keep products at or below the “manufacturer’s suggested retail price.” N

@ File Edit Tools Help Gguew mMode v V Delay ~ H LD v & JS S e |9 Question 5 of 20 < > 171 = 3 — View Policies Show Attempt History Your Answer Correct Answer Crystal saw a new brand of salsa being promoted online, and it was getting great reviews. She couldn’t find it anywhere in her area, so she began a campaign using social media to convince grocery retailers to start carrying this new brand. This is an example of what kind of retail strategy? Word of mouth strategy Social-media action strategy Push strategy Pull strategy

R File Edit Tools Help G{,Zum mMode v ~’ Delay ~ H H-_] el T ,. v , - ’ Question 6 of 20 < > 1/1 = 3 — View Policies Show Attempt History Your Answer Correct Answer Which of the following would be characterized as a discrete transaction? A small number of vendors were asked to submit confidential bids to refurbish the Vice President’s office Selling lingerie to a small retail clothing store Setting up an arrangement where administrative assistants in a company can order office supplies using their own discretion A restaurant running out of butter one night and sending someone to the local grocery store

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> File Edit Tools Help C_g New mMode v V gelay v H L:j > v P 7 v , B ’ Question 7 of 20 < > 1/1 i View Policies Show Attempt History Your Answer Correct Answer Megan'’s firm is launching a new line of hair-care products which are not expensive, but a certainly higher quality than the less- expensive products dominating the market. What kind of distribution intensity should she select for these new products? Exclusive Professional Selective Intensive

= File Edit Tools Help Cg New mMode v *-’ Delay ~ H L;_‘] ) < I ,.‘ v / - ’ Question 8 of 20 < > 1/1 = View Policies Show Attempt History Your Answer Correct Answer Veronica purchased a Ring doorbell from Home Depot for her new home. Since it never seemed to work correctly, she returned it to the store in exchange for a new one. Home Depot shipped the malfunctioning doorbell to Ring, where it was repaired and sold as “certified refurbished.” Which of the following terms best describes this type of supply chain? Reverse supply chain Traditional supply chain Direct supply chain Industrial supply chain

> File Edit Tools Help C—guew ) Mode ~ (~) Delay ~ Q L?J 5B S / - Yy & 7/ Question 9 of 20 < > 1/71 = i View Policies Show Attempt History Your Answer Correct Answer Nespresso is headquartered in Switzerland and operates in 60 countries. It sells its coffee pods and coffee makers via company-owned boutiques or online. Which of the following terms best describes this type of supply chain? Traditional supply chain Direct supply chain Reverse supply chain Industrial supply chain

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= File Edit Tools Help CRNew BMode ~ Doy~ [ 50 - S 2 e | 9 - i @ | 8 : Question 10 of 20 < > View Policies Show Attempt History Your Answer Correct Answer Under what condition is it best to include one or more wholesalers in the supply chain? When customers do not need the product immediately When the producer needs absolute control over how its brands are merchandised When the producer is of small or medium size When pre-purchase inspection is not important

= File Edit Tools Help Cg New [E]Mode ~ (A Dely v [ |3 a4 T /’" A B Question 11 of 20 < > 171 View Policies Show Attempt History Your Answer Correct Answer Which of the following is a way in which companies such as Heinz and Kellogg's might use power to gain entry into store? Product placement Point of purchase displays Reward power Shelf displays

> File Edit Tools Help Cg New mMode v */ Delay ~ Q _-J Bl - ,,‘ v / E ’ = ,i < Question 12 of 20 < > View Policies Show Attempt History Your Answer Correct Answer Manufacturers can stimulate demand for their products by creating promotions with the understanding that competitors cannot match the promotion. strategies aren't working, and tactics are required. these promotions may indicate to others in the supply chain a change in the firm’s objectives. retailers will pass on some of the price savings to customers.

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R File Edit Tools Help C¢New @ Mode ~ (Apey ~ | (5 e T JS =9 Question 13 of 20 < > 171 = View Policies Show Attempt History Your Answer Correct Answer When you feel you just have to have a piece of chewing gum, you know there will be a vending machine or many different kinds of stores where you can get a pack of gum quickly and without much thought. The chewing gum company selected an intensive distribution strategy because they know margins will be low, and they look for locations that will not be expensive in which to place the product. they want a consistent brand image of a product anyone can afford. they recognize this is the industry standard practice, and they see no reason to depart from it. they want to be in as many locations as possible to close out as many competitors as possible.

@ File Edit Tools Help RNew EMode ~ Py R [ o | v o | 9 =2 7/ Question 140of 20 < > 171 = View Policies Show Attempt History Your Answer Correct Answer Jordan had been working diligently to gather as much information as possible about the stores where his firm might put their new line of sports apparel. He was trying to assemble all the criteria he could think of to test each of the stores, but he was feeling more confused than he had been at the beginning. When he was explaining his frustration to Sam over coffee, Sam said, “You're going at the this the wrong way. There's only one question you need to answer.” What is that one question? Does the brand belong in a particular retail store? Which store’s margins are the most attractive? Which store is not already carrying the competitor’s products? Which store will carry the merchandise without having to pay an allowance?

¥ (o |[@ = File Edit Tools Help Cg New [ Mode ~ (+) Delay ~ [ LLJ B ~ / vy wm | 9 Question 15 of 20 < > 1/71 = View Policies Show Attempt History Your Answer Correct Answer Dawn’s marketing director urged her to give special attention to several of the retailers buying her firm’s product. He even suggested they might take some short-term losses if necessary. Why would the marketing director decide to do this? He was concerned that if the firm were seen as being too strict or too firm, it might be seen as unethical. He was concerned that damaging the retailers might lead to lawsuits from them. He knew that if he drove even a few of the firms to bankruptcy, his firm would end up losing money. He felt that if the retailers do well, it will benefit Dawn'’s firm in the long run.

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&, o || 3| = File Edit Tools Help C@New [Mode v PDelay R [B o ~| ,/ ~F = | 9 Question 16 of 20 < > View Policies Show Attempt History Your Answer Correct Answer Which of the following statements accurately describes conflict in supply chains? Supply chain conflict equals negative results for all parties. While all producers are equally important to retailers, not all retailers are equally important to producers. Conflict often arises because supply chain members have the same goal. Conflict may arise because supply chain members view the target market differently.

= File Edit Tools Help Ggﬂew B Mode ~ () Delay ~ Q L;] e T / S |9 Question 17 of 20 < > 171 = : View Policies Show Attempt History Your Answer Correct Answer Small Producer is heavily dependent on Massive Mart for product sales. When Massive Mart aggressively negotiates lower wholesale prices so it can then lower prices in its stores, Small Producer has no choice but to agree. This is an example of which type of vertical marketing system? Corporate VMS Discrete VMS Contractual VMS Administered VMS

= File Edit Tools Help C‘—gﬂew mMOde v \’ Qe]ay - lg L—{V-J - . . , . ’ &2 7/ Question 18 of 20 < > View Policies Show Attempt History Your Answer Correct Answer Paul and Marcus were planning the launch of a new product line for their firm, and they both got enthusiastic about breaking out of the traditional selling they had been doing using wholesalers to sell directly to the consumers using their website. They had checked with everyone associated with the operations of the website it was relatively easy to do. They needed to get approval from the CMO because the company would be taking on the new role of supply chain manager. wholesaler disintermediation. direct retailer. marketing intermediary.

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= File Edit Tools Help L/_g New EMOde v ’/ gelay - I; H:] & . E - . / . ’ Question 190f 20 < > 171 = View Policies Show Attempt History Your Answer Correct Answer Kristoff tries veggie chips at a sampling station at a trade show. During his next shopping trip at his locally owned grocery store, Kristoff asks the manager if she carries the tasty chips. When she replies negatively, Kristoff raves about them. A few weeks later, at that same store, Kristoff notices an endcap filled with bags of veggie chips. This type of marketing interaction is termed a power exchange. pull strategy. push strategy. discrete transaction.

= File Edit Tools Help C@hew EMode ~ Py R [ 5 7| S v = 9 Question 20 of 20 < o S~ — [l View Policies Show Attempt History Your Answer Correct Answer Lucas worked for an old-school business owner. When Lucas presented the idea of building relational exchanges with key vendor and buyers, the owner was skeptical at best. He told Lucas, “I'm not at all interested in having people feel good about business. It's not a party.” Lucas then told him it could increase profits, and the owner took a new interest. Which of the following is NOT a way Lucas could demonstrate that relational exchanges would increase profits? Lucas’s firm could reduce purchasing costs through fewer searches and negotiations. Lucas’s firm could lower inventory costs with longer-term contracts with flexible deliveries. Lucas’s firm could get the lowest price on the key materials they needed. Lucas’s firm would not have to spend as much to test and examine in-bound materials.

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