Mktg 4520 Final Exam

21st-century retailers are best described as:
a.
Factory sourcing companies
b.
System solvers
c.
CRM mediators
CRM mediators
The linkage between explicit terms of an agreement and implicit terms of an agreement in contractual marketing systems is:
a.
Shared purpose among channel members
b.
Opportunistic behavior by one or more channel members
c.
A quest for maximizing margins at the retail chanel
Shared purpose among channel members
Extant market knowledge, specialization and integrated communications are among the advantages provided by which of the following:
a.
Channel intermediaries
b.
Channel extramediaries
c.
Channel disintermediaries
Channel extramediaries
The first stage in building relational value chains is:
a.
Relational commitment
b.
Formal propositioning
c.
Market probing
Market probing
Which of the following resources advantages relates to a channel member’s core competencies:
a.
Financial
b.
Informational
c.
Organizational
Organizational
What is NOT a way in which a company could gain a competitive advantage?
a.
Differentiation of products
b.
Having good CSR
c.
Breaking government health regulations
Breaking government health regulations
The importance of service utility as a value-added dimension at the retail level and fortified by the CRM mediating role is:
a.
Event coordination
b.
Merchandising for margins
c.
24/7 customer connectivity
24/7 customer connectivity
Which of the following may be viewed as a relationship destruction factor?

a.
Channel member coordination

b.
Channel member flexibility

c.
Seller opportunism

Seller opportunism
Which of the following intermediaries is most likely to sell directly to consumers:
a.
Wholesalers
b.
Export brokers
c.
Retailers
Retailers
The 8.9 (on the Richter scale) earthquake and ensuing after-shocks and tsunami that devastated Japan resulted in all EXCEPT:
a.
Reduction in manufacturing of parts and automobiles
b.
Car dealership revenue streams
c.
The demand for Japanese automobiles
The demand for Japanese automobiles
Which of the following would you not recommend for adding value to the food supply chain?
a.
Doing away with governance and regulatory oversight
b.
Environmental awareness and consumer education
c.
Comprehensive labeling of food packaging
Doing away with governance and regulatory oversight
Which of the following traditional channel structures involves a high degree of vertical integration:
a.
Administered channel design
b.
Contractual channel design
c.
Corporate channel design
Corporate channel design
The bidirectional and continual flows of exchanges between all channel role sets that create value in the exchange process is best described as:
a.
DCM
b.
VCM
c.
SCM
VCM
n traditional marketing channels, the myopic perspective is that intermediaries in a channel primarily contribute?
a.
Distribution efficiency
b.
Product design
c.
Working capital costs
Working capital costs
Informational resources includes which of the following resources:
a.
Organizational culture
b.
Supplier relationships
c.
Competitive intelligence
Competitive intelligence
In 21st-century marketing channels, the market-driven definition supports which of the following:
a.
The ultimate goal of 21st-century channels is to create and sustain exchange relationships.
b.
The physicality (physical properties) of distribution should be the preeminent strategic focus.
c.
The goal of attracting new, profitable customers rather than retaining current customer relationships is an important means for cost savings in the marketing channel.
The ultimate goal of 21st-century channels is to create and sustain exchange relationships.
Which of the following is a good example of networked channel relationships:
a.
Toyota
b.
Expedia
c.
Chamberlain’s Chop House
Expedia
RFID Stands for:

a.
Radio Frequency Identification

b.
Response Formation Distribution

c.
Rapid Return Identification

Radio Frequency Identification
The 21st-century Li & Fung resource advantage is based on which of the following:
a.
Customization of value chains for every customer
b.
Location of the world headquarters in Hong Kong
c.
The focus on manufacturing processes
Customization of value chains for every customer
An individual or organization mediating exchange utility in buyer-seller relationship through the transfer of title or ownership of a market offering is:
a.
Channel extamediary
b.
Channel intermediary
c.
Marketing channel
Channel intermediary
Phil Knight’s first retail location was in:
a.
a small Mom ‘n pop shop in Portland, Oregon
b.
the trunk of a Plymouth
c.
Academy retail chain
the trunk of a Plymouth
Which of the following is not a characteristic typical of the B2B channel, as opposed to a B2C channel?
a.
Agents and brokers
b.
Industrial buyer
c.
Vertical marketing systems
Vertical marketing systems
Fair Trade laws in marketing channels are intended to:
a.
Diminish free market competition
b.
Exclude small channel “players” from gaiing a market position
c.
Foster free trade through open-market access to resources
Foster free trade through open-market access to resources
Which of the following exchange gov ernance norms best describes fairness and distributive justice in the outcomes of a win-win marketing exchange relationship:
a.
Solidarity
b.
Role integrity
c.
Mutuality
Mutuality
The linear flow best described by the directionality of goods and services from Resource Markets, Producers, Wholesalers, Retailers, and Customers is a ___ perspective:

a.
DCM

b.
SCM

c.
VCM

SCM
In relational exchange theory, the exchange governance norm that bonds channel members based on a common purpose is:
a.
Role integrity
b.
Solidarity
c.
Mutuality
Solidarity
What is China’ main advantage as indicated in the ” Addicted to Cheap Shopping ” video?

a.
Low Labour Cost

b.
Lower material cost

c.
Lower interest rate

Low Labour Cost
Which of the following is a potential resource for enhancing channel dependency:
a.
Value conflicts
b.
Technology
c.
Channel power
Channel power
Which of the following is a rationale for utilization of channel extramediaries:
a.
High degrees of control within the channel of distribution
b.
Focusing on an organization’s core competencies
c.
Reducing transaction costs
High degrees of control within the channel of distribution
RFQ stands for:

a.
Request for Quote

b.
Request for Quality

c.
Radio Frequency Procedure

Request for Quote
Arrange the following distribution types according to the decreasing value and distinctiveness of the product.
a.
Exclusive distribution, selective distribution, intensive distribution
b.
Selective distribution, intensive distribution, exclusive distribution
c.
Intensive distribution, selective distribution, exclusive distribution
Exclusive distribution, selective distribution, intensive distribution
The aggregation of all constraints and/or restrictions of channel members relative to their (inter) relationships with other channel members defines:
a.
Public policy
b.
Channel structure
c.
Channel stricture
Channel stricture
Marketing guru Ted Levitt asserted , “The sale merely consummates the courtship. Then the marriage begins. How good the marriage is depends on” which of the following?

a.
RAT

b.
CRM

c.
MICE

CRM
Service utility in the 21st-century suggests that the flows of goods and services are:
a.
Separable
b.
Discrete
c.
Connected
Connected
Which of the following 21st-century role sets best describes the traditional role set of the wholesale distributor?

a.
Resource prospectors

b.
CRM mediators

c.
System solvers

System solvers
What is the channel model of the Food Supply Industry shown in Food, Inc. video?
a.
Independent farmers to food-brokers to Corporate food buyers
b.
Contracted farmers to Food Supply Companies
c.
Independent farmers to Food Supply Companies
Contracted farmers to Food Supply Companies
Which of the following characterizes Traditional Goods-Centered Dominant Logic

a.
Customer is operand resources, value is determined by the producer, and primary unit of exchange is knowledge and skills.

b.
The customer is an operant resource, value is determined by the consumers, and primary unit of exchange is goods

c.
Customer is operand resources, value is determined by producer, and the primary unit of exchange is goods.

Customer is operand resources, value is determined by producer, and the primary unit of exchange is goods.
CMD stands for:

a.
Customer Method of Delivery

b.
Consumption Management Disposal

c.
Customer Management Distribution

Consumption Management Disposal
In 21st-century channel role sets, relationship managers are best described by:
a.
Resource prospectors
b.
Customers
c.
Retailers
Customers
Individuals or organizations providing resource advantages that add value to exchange relationships outside the channel of distribution are:
a.
Channel intermediaries
b.
Wholesalers
c.
Channel extramediaries
Channel extramediaries
The ability to leverage organizational resources over another channel member to make a change in strategy, tactics and/or customer relationships is:
a.
Resource advantage
b.
Channel power
c.
Channel conflict
Channel power
The direct exchange of goods, services or a promise of such provisions without the use of hard currency or credit is descriptive of channel transaction:
a.
Mortgage
b.
Debit card
c.
Barter
Barter
John Jay’s role as a great mediator of resource advantage, as well as a Founding Father of the U.S.A.: is exemplified by Jay’s Treaty of 1794 that:
a.
Relinquished any compensation to America for the ships seized by the British
b.
Constrained America’s access to the West Indies
c.
Eliminated Great Britain’s control over “Western navigation paths”
Constrained America’s access to the West Indies
What are some of the reasons for the increasing power of the Food Supply Industry?
a.
Social and cultural change
b.
Increase competition among Food Supply Industry
c.
Increase import of poultry, beef, and pork
Social and cultural change
In enlightened or contemporary marketing channel structure, the nexus across channel members is:
a.
Shared purpose
b.
Cost-sharing
c.
Explicit, legalistic terms of channel roles
Shared Purpose
Entering a new market with a new market offering (i.e., a VCM diversification strategy) likely results in:
a.
Low risks, low rewards
b.
High risk, high rewards
c.
Moderate risks, moderate rewards
High risk, high rewards
Which of the following is not a function of the channel?

a.
Transactional functions

b.
Logistical functions

c.
Advertising functions

Advertising functions
Which of the following channel environmental factors explains the growth in ethnic groceries and the introduction of Wal-Mart’s Supermercado:

a.
Psychological factors

b.
Socio-political factors

c.
Demographic factors

Demographic factors
Which nexus between resource advantage theory and market entry involves low risks, but very low pay-offs:
a.
Diversification
b.
Market penetration
c.
Market development
Market penetration
The third-largest retailer in the U.S.A. is:
a.
Costco
b.
Sam’s
c.
Sears
Costco