FREE MARKETING AND STUDY GAMES ABOUT

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FREE MARKETING AND STUDY GAMES ABOUT

MARKETINGCHAP14 EXAM QUESTIONS

Actual Qs and Ans Expert-Verified Explanation

This Exam contains:

-Guarantee passing score -41 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation

Question 1: electronic data interchange (EDI)

Answer:

the computer-to- computer exchange of business documents from a retailer to a vendor and back

Question 2: corporate vertical marketing system

Answer:

a system in which the parent company has complete control and can dictate the priorities and objectives of the supply chain; it may own facilities such as manufacturing plants, warehouse facilities, retail outlets, and design studios

Question 3: pull supply chain

Answer:

strategy in which orders for merchandise are generated at the store level on the basis of demand data captured by point-of-sales terminals

Question 4: consignment part of a VMI (vendor managed inventory)

Answer:

program whereby the manufacturer owns the merchandise until it is sold by the retailer

Question 5: quick response

Answer:

an inventory management system used in retailing; merchandise is received just in time for sale when the customer wants it; see just-in- time (JIT) systems

Question 6: collaborative planning, forecasting, and replenishment (CPFR)

Answer:

an inventory management system that uses an electronic data interchange (EDI) through which a retailer sends sales information to a manufacturer

Question 7: supply chain management

Answer:

refers to a set of approaches and techniques firms employ to efficiently and effectively integrate their suppliers, manufacturers, warehouses, stores, and transportation intermediaries into a seamless value chain

Question 8: checking

Answer:

the process of going through the goods upon receipt to ensure they arrived undamaged and that the merchandise ordered was the merchandise received

Question 9: radio frequency identification (RFID)

Answer:

tags tiny computer chips that automatically transmit to a special scanner all the information about a container's contents or individual products

Question 10: advanced shipping notice (ASN)

Answer:

an electronic document that the supplier sends the retailer in advance of a shipment to tell the retailer exactly what to expect in the shipment

Question 11: strategic relationship (partnering relationship)

Answer:

a supply chain relationship that the members are committed to maintaining long term, investing in opportunities that are mutually beneficial; requires mutual trust, open communication, common goals, and credible commitments

Question 12: referent power

Answer:

a type of marketing channel power that occurs if one channel member wants to be associated with another channel member

Question 13: dispatcher

Answer:

the person who coordinates deliveries to distribution centers

Question 14: contractual vertical marketing system

Answer:

a system in which independent firms at different levels of the supply chain join together through contracts to obtain economies of scale and coordination and to reduce conflict

Question 15: Wholesalers

Answer:

those firms engaged in buying, taking title to, often storing, and physically handling goods in large quantities, then reselling the goods (usually in smaller quantities) to retailers or industrial or business users

Question 16: legitimate power

Answer:

a type of marketing channel power that occurs if the channel member exerting the power has a contractual agreement with the other channel member that requires the other channel member to behave in a certain way

Question 17: coercive power

Answer:

a type of marketing channel power that occurs when the channel member exerting the power threatens to punish or punishes another channel member for not undertaking certain tasks it wants it to do

Question 18: ticketing and marking

Answer:

creating price and identification labels and placing them on the merchandise

Question 19: receiving

Answer:

the process of recording the receipt of merchandise as it arrives at a distribution center or store

Question 20: marketing channel

Answer:

the set of institutions that transfer the ownership of and move goods from the point of production to the point of consumption; consists of all the institutions and marketing activities in the marketing process

Question 21: pick ticket

Answer:

a document or display on a screen in a forklift truck indicating how much of each item to get from specific storage areas

Question 22: power

Answer:

a situation that occurs in a marketing channel in which one member has the means or ability to have control over the actions of another member in a channel at a different level of distribution, such as if a retailer has power or control over a supplier

Question 23: administered vertical marketing system

Answer:

a supply chain system in which there is no common ownership and no contractual relationships, but the dominant channel member controls the channel relationship

Question 24: lead time

Answer:

the amount of time between the recognition that an order needs to be placed and the arrival of the needed merchandise at the seller's store, ready for sale

Question 25: cross-dock

Answer:

a distribution method whereby merchandise is unloaded from the shippers' truck and within a few hours reloaded onto trucks going to stores. These items are prepackaged by the vendor for a specific store