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Oklahoma State University *

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3213

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Marketing

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Feb 20, 2024

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What are the two functions of a brand? identify and differentiate market and recruit compete and improve locate and determine What are the two parts that make up a brand? Brand Label and Brand Price Brand Name and Brand Mark Brand Price and Brand Issue Brand Product and Brand Name Seeing a brand can cause consumers to automatically think of the attributes of the firm. • True • False A "brand" is confined to the physical name or logo associated with the firm. • True • False The primary value of a brand for consumers is the: definition of corporate social responsibility reduction of perceived risk association with target groups ability to compare prices The brand resides in the consumer's:
• desired associations • memory • conversations • peer group What is Spreading Activation? The creation of new nodes When consumers spread brand knowledge through conversation When nodes are energized and brought into working memory An external cue When does activation occur? With only external cues With either external or internal cues With social media-based marketing With only internal cues Addi is driving from Stillwater to Dallas, and sees a McDonald's sign with golden arches (but no words). She automatically begins to think of her hunger. What kind of cue activated this thought? Coercive cue External cue Detrimental cue Internal cue Brand awareness is associated with the ability of the brand to __________ who is offering a product or service, while brand association is associated with the ability of the brand to ____________ from competitors. differentiate; identify respond; attack identify; differentiate separate; connect
Which of these is not a type of brand association? brand benefits brand memories brand attitudes brand attributes Automaticity in a branding context means: initial evaluation of a brand is made automatic and efficient the automatic reaction of consumers to a brand they have never encountered. the evaluation of a brand is brought to either conscious or subconscious thought a consumer's conscious decision to memorize aspects of a brand A way of visually presenting where your brand is in consumers' minds is called a: brand map brand attribute brand association brand recognition Brand associations within a brand map can also have _______ attached to them. • organization • price • affiliation • mood and emotion A brand map determines brand associations from the perspective of the: • board of directors • competitor • management • consumer When creating a brand map, a word cloud is always more useful than a table.
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• True • False The added value delivered by the brand over the functional benefits or book value is called: Brand Equity Brand Evaluation Brand Interest Brand Recognition Book value of assets + Brand equity = Market share in industry Market value of brand Price of brand Consumer share of brand Brand equity starts as a ________ concept, but ends up having a real ________ effect. psychological; monetary monetary; psychological potential; realized inconclusive; mediated The "magic lesson" teaches us how to turn what into dollars? what consumers know about the brand the price of bestselling products how competitors adjust in response to the brand negative reputation of the brand or firm Which of these is not a way to turn brand equity into dollar value? Brand Extension Price Competition • Licensing
• Word of mouth If Oreo cookies come out with a new flavor of s'mores Oreo cookies, what are they using in order to turn brand equity into dollars? Word of mouth Product purchase • Licensing • Promotional Advantage The example of the purchase of the PanAm brand demonstrates how: Promotional advertising can save a business Brands are unable to expand past their original industries Brands can have value beyond the book value of the firm Brands are worthless without assets as collateral An agreement whereby a company permits another organization to use its brand on other products for a fee is defined as: Brand Addition Joint venture Brand licensing • Franchising The brand name must provide _________ meaning for the product. • primary • secondary • institutional • tertiary Which of these is not a branding strategy? Individual Branding Franchise Branding • Sub-branding
• Institutional Branding Unilever houses many brands, such as SlimFast nutrition drinks, Dove soap, and Skippy peanut butter, that all sell different products. What branding strategy is used here? • Sub-branding Individual branding Institutional branding Umbrella branding Which of these is not a benefit of individual branding? strong connections to established brands for new brands to lean on development of additional brand assets protection against negative spillover effects strategic degrees of freedom Which of these is not a benefit of institutional branding? lower promotional costs marketing power in the marketplace greater individualized identity for new products enhancement of positive spillover Which of these companies is more likely to use an institutional branding strategy for a new product or service? • Procter & Gamble • ServiceMaster • Sony • Nestle Which of these is not a benefit of sub-branding? marketing power and promotional advantages of the institutional brand increased market share
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market flexibility new brand asset development, similar to individual brand What is the main advantage of using a sub-branding strategy? ability to take on the advantages of individual and institutional branding general flexibility ability to avoid the disadvantages of individual and institutional branding all of these Mostly, business is made up of: customer service orientations huge, multimillion dollar transactions smaller, more frequent transactions competitions with other firms Face-to-face communication is necessary for true "frontline" transactions. • True • False Technology has had little impact on organizational frontlines in most industries. • True • False Rachel goes to Walmart to buy groceries and checks out with a cashier. When Rachel hands her cash to the Walmart employee, what kind of interaction has taken place? Human customer, Machine service provider Automated Service Delivery Machine Summons Traditional Interactions
When Mariah needs money, she goes to an ATM instead of driving to her bank. When Mariah utilizes this ATM that represents her home bank, what kind of interaction has taken place? Automated Service Delivery Machine Summons Human customer, Machine service provider Traditional Interactions Which of these types of interactions is the only one where human interaction is absolutely necessary? Machine Summons Automated Service Delivery Traditional Interactions Machine Service Provider The acronym LAURA helps us to analyze and adjust when: employees have provided poor customer service a product or service has disappointed the consumer consumers are belligerent with frontline employees a product or service has exceeded expectations of consumers What is the definition of retailing? Any form of sale with a price markup Selling goods and services to companies to use in running the company Marketing goods and services for resale Selling goods and services to consumers for their own use What is the difference between retailing and wholesaling? retailers sell to individuals for end use; wholesalers sell to companies for resale/company use wholesalers sell to individuals for end use; retailers sell to companies for resale/company use wholesalers are unable to mark up prices; retailers are free to do so
retailers are unable to mark up prices; wholesalers are free to do so What is the difference between merchant and agent wholesalers? merchants take ownership to a product; agents act as intermediaries agents produce the product; merchants sell it to consumers merchants produce the product; agents sell it to consumers agents take ownership to a product; merchants act as intermediaries Why do retailers exist? They add value by adjusting discrepancies between the needs of consumers and sellers They do not add value but do add convenience People always buy more from retailers than they do directly from producers They add value by increasing discrepancies between the needs of consumers and sellers Why is breaking bulk important? breaking bulk is unnecessary sellers want to produce in bulk, consumers want to buy in small amounts sellers dislike producing in bulk, but consumers want large amounts breaking bulk is inconvenient for the consumer, leading to impulse buys What is the reason for so many levels existing between the producer and end-user? prices are lower across the board with a greater number of levels each level adds some kind of value to the end user convenience only each level makes some degree of money When it comes to compensation in a channel of distribution, _______ plays the most important role. • power • replicability relative importance
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market share Brands marketed as more luxury options (such as Lexus) are likely to utilize ______ distribution intensity. • strategically placed • selective • intensive • broad-coverage Which of these is not a form of a sharing economy? • P2B • P2P • B2B • B+P Air BnB uses a model where the business integrates people who own homes into the market where consumers express demand. This is most accurately described as which type of sharing economy? Business to Person Business + Person Person to Business Peer to Peer sharing What has been a problem of implementing Peer to Peer sharing? determining products determining companies who will invest finding platforms where consumers express demand • finding platforms where it is legal and available Of the sharing economy models, which is the most similar to traditional business models? Business to Business Peer to Peer Business to Person Business + Person
What is the largest inhibitor to the growth of sharing economies? initial cost quality concerns • trust • advertising A platform that receives renting fees receives those fees from the _______ and shares those fees with the _______. platform; owner recommender; seeker owner; seeker seeker; owner Which of these is not a party that shares and exchanges value in a sharing economy? • Platform • Recommender • Owner • Seeker Which of these is not a potential benefit of increasing a sharing economy? reverse effects of eroding social trust realize potential market gains return economic benefits reduce environmental and waste impact What jobs are the most likely to be automated? those with a great deal of routine those with lots of critical thinking those with a great deal of variety those with high-impact decision making
The degree to which an individual possesses an enduring belief in the importance of customer satisfaction is defined as: customer service business orientation customer orientation good management Some people innately have more of a customer orientation than others. • True • False It is often most important for which kind of employee to have a strong customer orientation? • Strategic • Behind-the-Scenes • Front line • Managing When a supervisor doesn’t emphasize the importance of customer satisfaction, employees with higher customer orientation: perform fewer customer service behaviors than they might have perform a varied amount of customer service behaviors all supervisors surveyed emphasized the importance of customer satisfaction perform more customer service behaviors than they might have When employees with high customer orientation are embedded in an organization that emphasizes (and benefits from) customer satisfaction, profits are likely to: • decrease • increase
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stay the same exponentially decrease In most circumstances, higher levels of customer orientation lead to all of the following except: Organizational citizenship Job satisfaction Organizational commitment Job turnover Employees with high customer orientation will thrive in what kind of job? High customer interaction Low customer interaction These employees can go to any job These employees always choose their own job What are inside sales? a type of sales in which companies within the same industry sell to each other a type of sales in which interactions are initiated by the seller a type of sales in which interactions are initiated by the buyer a type of sales in which inside departments sell to each other A type of selling in which the organization is represented by multiple people, which might include a salesperson, a technical support specialist, or others, is defined as: Team Selling Group Sales Team Account Group Work Ideation What is a key account? an account that links the company to other accounts the account a company holds with a minor supplier
a small customer that provides an average amount of revenues a very large customer that provides a significant portion of revenues A form of personal selling that focuses on making an immediate sale with little or no concern for customer satisfaction or relationship development is defined as: Transactional selling Relationship selling • Telemarketing • Innovative selling Transactional selling focuses on the customer relationship. • True • False A form of personal selling that involves securing, developing, and maintaining long- term relationships with profitable customers is defined as: relationship selling business to business selling transactional selling personality-based marketing Which of these is not a step in the personal selling process? • approach • close • presentation • prospecting When does initial contact with the potential consumer occur?
• preapproach • approach • introduction • presentation What happens in the Presentation stage of the personal selling process? establish initial contact ask for financial commitment present customer service evaluations determine prospect needs and present benefits; handle objections SPIN selling is about asking questions of potential customers. • True • False What is the point of SPIN selling? educate the consumer on the features of your product push a sale through at all costs position your product or service as the solution to the customer's problems sell your product to an entire industry The most successful salespeople focus on the beginning aspects of the SPIN method (e.g. Situational and Problem questions). • True • False What is the definition of Price? what is provided as a good or service the combination of values for all raw values the treasury-backed ultimate value of a product what is exchanged for the product, service, or idea _______ is not about what we put into our product, it's what our customers get out of it.
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• Value • Evaluation • Price • Marketing The "value created" of a product or service is determined from the perspective of the: • employer • customer • competition • stockholders Small changes in price do not have a very large impact on bottom line profits. • True • False Which of these does not happen in a "smart industry"? greater use of techniques from other fields companies fight with price only greater subtlety of pricing options more complex pricing What is the first step in strategic pricing? Increasing the marketing budget Knowing how your industry behaves Knowing the price of your competitors Financing large projects What is the key difference between cost-based pricing and value-based pricing? how you value each layer of business where you start the process weight placed on customer service focus on quantity vs. focus on quality
Value-based pricing will always be more profitable than cost-based pricing. • True • False What is price skimming? setting a high price for a new product to skim maximum revenues setting a low price to penetrate the market offering customization at a price premium reintroducing an old product at a different price What is dynamic pricing? • variable rate for each customer price determined from bargaining price set to change with stock prices standard, flat rate for each customer What is flat-rate pricing? setting a low rate to penetrate the market single rate per time period different rate for each customer price set to fluctuate with treasury bonds Which of the following describes peak load or congestion pricing? price assembled as you add options variable price based on region or county charging the peak industry price at all times variable rate depending on time of day or week
You do not need to understand margin and markup if you are using value-based pricing. • True • False What is the main difference between the equations for margin and mark-up? There is no difference, they are synonyms Margin is (Price - Competition)/Price and Mark-up is Price – Competition • Margin is (Price - Cost)/Price and Mark-up is (Price - Cost)/Cost Margin is (Price - Cost)/Cost and Mark-up is (Price - Cost)/Price Mark-up can be greater than 100%. • True • False A grocer has purchased a truckload of frozen dinners for $3 each. The grocer operates on a margin of 30% for frozen food items. What is the retail price to the consumer? • $5.78 • $3.35 • $4.29 • $2.60 The competitive retail price for a stereo system is $300. Retail stores normally have a margin of 30% for such items. Wholesalers normally have a margin of 20% for such items. The manufacturer’s price is unknown. What steps should be taken to determine the manufacturer’s highest price? Solve for Retail price, then Wholesale price, then Manufacturer price Solve for Manufacturer price, then Wholesale price, then Retail price Solve for Wholesale price, then Manufacturer price, then Retail price Solve for Retail price, then Manufacturer price, then Wholesale price
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What is the breakeven point? the most desirable point for profits where fixed costs only are covered where variable costs only are covered where profits just cover costs Assume that Netflix has introduced a new bundle service for their streaming services. Bundle 1 includes a base price of $9 to cover 25 hours of streaming for the month and variable price of $0.10 for every 30 minutes over that 25 hours. Bundle 2 includes no base price, but a variable price of $0.25 for every 30 minutes of streaming per month. When a consumer attempts to decide which bundle to use, what is he or she determining? Effectiveness of bundling Breakeven point Price elasticity Value of the brand What is defined as responsiveness of demand to changes in price? Demand sensitivity Cost benefit Price elasticity Price variation A change in price in an elastic market is likely to show _______ change in demand when compared to a similar change in an inelastic market. • Greater • Variable • Smaller • Equal In the Transactional Model of Communication, who fulfills the role of the Sender?
• Market forecast • Retailers • Consumer • Marketer The message put in place by the Sender is always identical to the message received by the Receiver. • True • False The Communications Triangle encompasses more than just promotional interactions. • • True • False The “company” in the Communications Triangle represents the: Company reputation Frontline employees Formal company management • Customers What is defined as frontline interactions in the Communications Triangle? • Interactive Communication Internal Communication External Communication Realistic Communication What is defined as the communications between the company and its customers? Active advertising External promotion Interactive communication Internal promotion What is the definition of Advertising?
A form of internal promotion with employees, paid for by the seller A form of internal promotion with customers, paid for by the seller A form of external promotion with customers, paid for by the seller A form of external promotion with sellers, paid for by the consumer The immediate goal of all advertising is to make exchange happen. • True • False The goal of “remind and reinforce” applies to advertisements aimed at: current customers any customers future customers Advertising is best thought of as a(n): • Dividend • Investment • Immediate payoff • ROI In advertising, a marketing professional should know both her _______ and her _______. Message; retailers Stock prices; audience Competitors; budget Message; audience Which of these is not one of the Three C’s in communication? • Concise • Committed • Consistent • Clear
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A company is looking to implement its new advertisement that is targeted specifically towards consumers 65 and older. Which communication channel would most effectively reach the intended audience? • Instagram • Snapchat • Twitter • TV commercials Why is telling stories such an impactful way to advertise? Consumers become bored with stories quickly Consumers are irritated with failure Storytellers inevitably fail People are drawn into stories Which aspect of the SUCCESS model is more common in the United States than in other countries? • Credible • Simple • Emotion • Concrete A nonprofit that provides education for underserved communities is looking to run a new promotion. The company is deciding to either provide several statistics or a single, personal story from a student relying on funds. Out of the following, which part of the SUCCESS model would the personal story best encompass? • Unexpected • Emotion • Simplicity • Credibility When the company first started, Southwest's message in advertisements and managerial actions clearly
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communicated its commitment to low prices. What is this the best example of? • Concreteness • Emotion • Simplicity • Unexpectedness Why is simplicity important for breaking through promotional clutter? Messages seen as too simple are ignored by consumers Mail-in rebate Your message is the clearest when it is simple Complex messages draw consumers in What is a sales promotion? Long term external promotion tactic designed to influence future purchase A synonym for advertising Price cuts only Short term external promotion tactic designed to influence immediate purchase What is the goal of a sales promotion? Increase likelihood of later purchase Clear inventory Convincing consumers to "act now" Increase market share What is the main difference between advertisements and sales promotions? Goal: of long-term or immediate payoff Goal: of increasing sales or decreasing necessary employees Methods: print or technology-based Methods: using frontline employees or management Black Friday is best described as an example of: Advertising strategy Public Relations Strategy Competitive advantage
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Price Promotion What is the best example of a Frequent User Program? Black Friday sale Mail-in rebate Southwest credit card Buy-one Get-one Free It is easier to determine the effectiveness of sales promotions than advertisements. • True • False Which of these is not an advantage of sales promotions? Sales promotions have long-term effects Reduce risk of initial trial Effectiveness measured directly Balance demand against capacity What is the definition of Public Relations? Form of external promotion through channels perceived to be noncommercial Form of internal promotion through any and all channels The least effective commercial strategy Form of external price promotion What is puffery? Inflation of price during peak business hours Inflating negative expectations The idea that most ads tell only the best-case scenario Exaggerating reports of the number of consumers
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Public Relations are generally believed more so than advertisements. • True • False Companies who are recruiting new employees often ask to come to college campuses and speak in classes. What type of public relations tool is this most like? Speaking engagements Press kits/releases • Philanthropy • Event sponsorship In the Communications Triangle model, which type of interaction is modeled by a double-headed arrow? External communication Intrinsic value Internal promotion Interactive promotion Who is interacting in Interactive promotions? Top management and employees Frontline employees and customers Employees and top competitors Background employees and technology What is personal selling designed to influence? A communication incentive A market's elasticity A purchase decision A competitor response Promotion is ultimately about making:
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The best sale price possible Effective exchanges between the seller and the customer Good communication efforts between management and employees Efficient exchanges between suppliers and retailers All promotional tools are equally effective in all promotional situations. • True • False Which of these is not a goal of promotion? • Desire • Awareness • Action • Price cuts Can the order of the AIDA model be changed? Why or why not? No, each step must be achieved before moving to the next Yes, each goal is individual and separate Yes, changing the order keeps competitors on edge No, consumer reactions must drive the order Which step of the Process of Consumption best lines up with the Desire aspect of Goals of Promotion? • Interest • Evaluation of alternatives • Reaction • Need recognition Which of these is not a goal covered by Public Relations Advertising? • Desire • Awareness • Interest • Action
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Marketers tend to spend _________ on out-of-home advertisements compared to other methods. Inconclusive amounts The same • Less • More Which of these is not an example of out-of-home advertising? • Signage • Billboards Car wraps Online ad videos Which of these is not a reason for the increasing popularity of digital marketing? Interactive medium Easily targeted Difficult to track effectiveness • Cost-effective Which of these is not a key category of digital promotion? • Affiliate • Display • Social media • Video Which of these is the best example of display advertising? • A billboard • Broadcast Banner advertisement Email promotion What is a main risk of using email promotions? Cost of sending mail Privacy issues
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Consumers ignoring emails Cannot target emails effectively What is the key aspect of the definition of social media? Social media is online Content comes in app form The ability it gives users to interact with each other Narrow reach Social media marketing, when compared to normal social media use, uses the platform: • Passively • Strategically • More often • Aggressively Only Gen X and millennial demographics are represented on social media. • True • False ‘ The social media landscape changes __________ and requires ___________ from marketers. Quickly; indifference Quickly; flexibility Slowly; caution Slowly; spontaneity There is a trend towards ________ elements in social media • Visual
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Tangible Multimedia Audio Which social media platform has the widest customer base? • Twitter • Facebook • LinkedIn • YouTube Only certain demographics can be reached using Facebook. • True • False Which of these situations would Twitter be best for? Planning for the future Live reporting Researching an article Video sharing Pinterest is the only social media platform that is ________-looking. • Outward • Forward • Backward • Present Posts that have a(n) __________ element tend to do well on Instagram • Intrinsic • Audio • Artistic • Grayscale Which social medial site is best suited for business to business marketing?
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• LinkedIn • Facebook • Twitter • YouTube Which of these is an important characteristic of YouTube? Business to business marketing Video-based search engine • Forward-looking • 140-character limit When determining which social media platform to use for marketing, what should marketing professionals consider? Which platforms are most convenient for the firm How the platform fits with your product What is “cool” or trendy Pay-per-click advertisements When determining which social media platform to use for marketing, where should marketing professionals look? Where the largest number of users are active What is “cool” or trendy Where millennials are most active Where the target segment is best represented Which of these is the best strategy for determining the best social media platform to use for marketing? Switch target markets rather than change marketing strategy Stay consistent with platforms and content Try new platforms and content to see what connects Abandon unsuccessful platforms immediately
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With social media marketing, who are you representing? • The media platform • Yourself Your brand Your followers Companies on social media should remember to: Reply angrily to frustrated consumers Interact with followers Provide sales pitches only Post and disappear What is Search Engine Optimization (SEO)? The strategy to ensure only certain markets can find your firm A firm’s basic online strategy The strategy to try and improve the firm’s ranking on Google The strategy to try and remove a firm from Google Why do firms use SEO? All companies want to reduce their web traffic All companies want to have the #1 ranking on Google SEO is required for firms by ONET Only the most competitive companies use SEO It is common for consumers to go past the first page of their Google search. • True • False Repetition of primary keywords is the only requirement for moving a firm up on Google’s search engine rankings.
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• True • False What is the point of on-site SEO? Prove to consumers that your content is popular Improve business to business marketing Prove to Google that your content is relevant Increase pay-per-click What is the best way to have excellent off-site SEO? Keep content the same as long as possible Use repetitive, homogenous links Have an easily navigated webpage Have high quality content Experts say that off-site is ________ important when compared to on-site SEO. • more • less • equally Pay-per-click marketing is also known as: • Search marketing Online advertising Bidding Google mining Which of these is not a part of making a pay-per-click ad? match the ad message, Unique Value Proposition, and Call to Action set the highest bid available make the ad relevant to the keywords searched Make it obvious what you want the user to do upon seeing the ad
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What is determined by the default bid aspect of setting up a pay-per-click ad? Effectiveness of landing page The firm’s budget per week How much the firm pays per click Keyword popularity What is a landing page? The sales section A special page specifically for people who click on your ad The web homepage A page devoted to a certain product Which of these is not a characteristic of a good landing page? • Full company information Clear offer Simple form Quality content offer Online display advertising is exactly the same as pay-per-click. • True • False What is a main difference between online display advertising and pay-per-click? • Online display is visual; Pay-per-click is text Online display is text; Pay-per-click is visual Online display is effective; Pay-per-click is inconclusive Online display is audio; Pay-per-click is tangible
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Google’s display network is huge, with approximately ___________ monthly impressions (as of fall 2017). One trillion A hundred thousand 6 billion 10 million What is contextual targeting most similar to? • Data mining • Pay-per-click • Customer service • Keywords Targeting based on “where people have been” is known as: • Remarketing Forecasting Market segmenting Coupon rate When will a firm’s ad show up the most often? The firm connects with Bing rather than Google The firm only has one size ad The firm creates a bold, colorful ad The firm creates different ads for different sizes Which of these is not a listed method of mobile marketing? • Mobile display ads • Websites • Apps • Online news articles
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Standard webpage views are optimal for mobile access. • True • False What is the number one way to market to mobile users? Focus on email-based methods Link mobile users to the standard site Create several versions of an app Optimize webpage views through mobile sites Which of these marketing methods is the most unique to mobile marketing? • Pay-per-click • Location-based Display ads Social media The companies who utilize mobile marketing to its fullest potential are using many platforms in addition to mobile. • True • False Which is NOT a role of a specific supply chain? Decrease accuracy Improve proficiency Reduce costs Increase profits What are the two type of Supply Chains? Direct Supply Chain and Wholesale Supply Chain Indirect Supply Chain and Wholesale Supply Chain Direct Supply Chain and Indirect Supply Chain Resale Supply Chain and Wholesale Supply Chain
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What is a supply chain? Organizations and activities involved with the flow of products from raw materials to the customer Promotions and offers involved with the flow of activities from raw materials to the customer Products and services involved with the flow of cash from the consumer to the firm None of the above What are roles of the market intermediaries? Link the manufacturer with the customer Create benefits for manufacturers Providing storage All of the above Which is NOT a type of marketing intermediaries? • Wholesalers • Distributors • Manufacturer • Retailers Which market intermediary sells products for a commission? • Wholesalers Agents and Brokers Retailers Distributors Which market intermediary works directly with the customer? Retailers Agents and Brokers Distributors Wholesalers What does the supply chain represent? • • • • Which is not a • • • • The steps it takes to get the product from original manufacturer to consumer The market intermediaries Just the original manufacturer None of the above function that distributors perform?
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Creating products Selling Delivering Maintaining inventory A grocery store is an example of what type of market intermediary? • Retailers • Agent/Broker • Distributors • Wholesalers Real-estate company is an example of what market intermediary? • Agents/Broker • Distributors • Wholesalers • Retailers When a producer sells directly to a consumer is what type of supply chain structure? • Direct • Indirect • Neither • Both An effect relationship in supply chains can be represented by vertical supply chains. • True • False Which of the following is not part of a vertical marketing system? • Producer • Consumer • Wholesaler • Retailer Nike is an example of which type of vertical marketing system? • Corporate Administered Contractual None of these Which vertical marketing system is a formal agreement between the varies levels of distribution or production channel to coordinate the entire process? • Contractual • Administered • Corporate • None What is NOT something a company should consider when choosing a vertical marketing system? Best coverage of the company’s target market Provide the perspective buyer with what they want
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Most profitable Convenience Pizza hut is an example of what type of vertical marketing system? • Contractual • Administered • Corporate • None Which of these is not a type of vertical marketing system? Supplier VMS Corporate VMS Administered VMS Contractual VMS Which is NOT an important factor in Amazon’s supply chain to have fast delivery? Location Size Number of warehouses Cost What is an advantage to corporate VMS? Control of all aspects of the system Low taxes Large trust in all channel members Low cost Who owns the channel in Administered VMS? • Noone The company Whoever contractually has power None of these Which type vertical marketing system has one member of the production/distribution chain that is super dominant? • Corporate • Administered • Contractual • None Which of these is the best example of contractual VMS?
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• Franchising • Retailing • Ownership • Agent/Broker
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