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COB 300 Marketing Final questions with complete solutions graded A+
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COB 300 Marketing Final questions with complete solutions graded A+
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COB 300 Marketing FinalMarketing Channel - correct answer ✔✔individuals and firms involved in the process of making a
product or service available for use or consumption by consumers or industrial users
Intermediaries - correct answer ✔✔firms or individuals who move a product to the next step in the
chain (more connected with re-seller and consumer part)
Three basic functions of intermediaries - correct answer ✔✔transactional, logistical, and facilitating
How do intermediaries make selling goods/services more efficient? - correct answer ✔✔They minimize
the number of sales contracts necessary to reach a target market
Transactional Function - correct answer ✔✔buying, selling, and risk taking
Logistical function - correct answer ✔✔assorting (providing variety), storing, sorting (breaking down into
bulk), and transporting
Facilitating Function - correct answer ✔✔financing, grading, and marketing information and research
What are other benefits intermediaries provide to consumers? - correct answer ✔✔Time, Place, Form,
Possession
Direct Channel - correct answer ✔✔Producer to consumer
What do Direct channels do? - correct answer ✔✔- Producer can replicate or improve upon value added
by other channel members
- Improve sales & profits
- Better control of brand and customer relationships
,Indirect channel (B) - correct answer ✔✔Producer --> Retailer --> Consumer
When does the retailer add value? - correct answer ✔✔- Can better handle small transactions
- Local/on-site service is required
- Tactile product (needs to be touched, taste)
Indirect channel (C) - correct answer ✔✔Producer --> Wholesaler --> Retailer --> Consumer
(when retailer doesn't want to do business directly with you)
When is a wholesaler required? - correct answer ✔✔When widespread distribution is desired/required
for large retailers, mom-and-pop stores, convenience stores
When do wholesalers provide services that the producer does not want to take on? - correct answer
✔✔Retailers buy in small quantities and retailers require service, training, etc.
Indirect channel (D) - correct answer ✔✔Producer --> Agent --> Wholesaler --> Retailer --> Consumer
(don't want to build infrastructure yourself)
How does an agent add value to the distribution channel? - correct answer ✔✔- similar to previous
channels in that widest distribution possible is desired with minimum financial risk or outlay (large
chains through vending machines)
- Geographic expansion with minimal financial outlay
Direct Channel (e) - correct answer ✔✔Producer to Organizational buyer
In a direct channel (b2b), when does the buyer insist? - correct answer ✔✔when product is expensive
and/or requires significant training or service
In a direct channel (b2b), when does the producer prefer? - correct answer ✔✔better margins, more
customer/brand control
, Indirect Channel (f) - correct answer ✔✔Producer --> industrial distributor --> organizational buyers
What is the value of indirect channel (f) ? - correct answer ✔✔- simple and/or standardized items
requiring little training or service
- easily stocked and bought in small lots
- rapid delivery times required
What are the B2B intermediaries? - correct answer ✔✔Industrial Distributor and MFG Agents
What is an industrial distributor? - correct answer ✔✔Independent business that TAKES TITLE to
business products & carries inventory
What is a manufacturers' agent? - correct answer ✔✔Independent businessperson who sells on
commission, products of several products
What happens when you give up the title? - correct answer ✔✔You lose control of the price
Indirect channel (g) - correct answer ✔✔producer --> Agent --> Organizational buyer
What is the value of indirect channel (g)? - correct answer ✔✔- expand geographic coverage with
minimal investment
- take advantage of agent's complimentary lines to more easily reach potential customers
Indirect channel (h) - correct answer ✔✔Producer --> Agent --> Distributor --> Organizational buyer
What is the value of indirect channel (h)? - correct answer ✔✔Expand geographic coverage of seasonal
products with minimal investment
Direct marketing channels: - correct answer ✔✔Allows consumers to buy products by interacting with
various advertising media without a face-to-face meeting with a salesperson
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