Explain the need for professional and ethical standards in marketing. - Answer One must not release customer data without consent. All market activities should fulfill the core principles of business ethics: making a profit while bringing meaningful goods/services to the world.
Explain employ...
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Exam Questions And 100% Correct
Answers.
Explain the need for professional and ethical standards in marketing. - Answer One must not release
customer data without consent. All market activities should fulfill the core principles of business ethics:
making a profit while bringing meaningful goods/services to the world.
Explain employment opportunities in marketing. - Answer One could manage quality control and
inventory, market research and their databases, be a market planner, pricing economist, product/service
manager, promotional specialist, or professional salesperson.
Explain the nature and scope of channel management. - Answer Channel management is the process of
determining the distribution of goods and services from the manufacturer to the consumer. It often
includes manufacturers, vendors, businesses, warehouses, retailers, wholesalers, and consumers.
Explain the relationship between customer service and channel management. - Answer Customer
service is the process of a business attempting to resolve an issue a customer has with goods and
services provided by the business. Errors in the channel management stage of the marketing process
may lead to defects in products during distribution. Also, inefficient distribution may irritate some
customers.
Explain the nature of channels of distribution. - Answer Channels of distribution are what a good or
service goes through before reaching the market.
Channels of Distribution:
Manufacturer - makes/performs good/service
Vendor - sells good/service
Business - purchases good/service from vendor, sells good/service to retailers/wholesalers for profit
Warehouse - stores good/service
Retailer - sells good/service directly to consumer
Wholesaler - sells good/service in bulk quantities to other parties, who sell to consumers
, Consumer - purchases and consumes good/service
Describe the use of technology in the channel management function. - Answer Technology can be used
to determine factors used in selection of channels, contact owners of these channels, and monitor the
distribution of goods/services.
Explain legal considerations in channel management. - Answer Distributors and vendors may sue for
price-fixing and other legal issues related to business.
Describe ethical considerations in channel management. - Answer Channel management members
must obey the law and serve the best interest of ALL members in the supply chain.
Coordinate channel management with other marketing activities. - Answer Information can be
collected to plan out a course of action based on prices and which vendors provide the best products
and services. That's 4 marketing functions related to channel management.
Explain the nature of channel-member relationships. - Answer Each member in a channel has a specific
role in the quality of a product/service. [See #5]
Explain the nature of affinity partner relationships. - Answer Affinity partner relationships is a concept
that consists of a partnership between a company and an organization that gathers persons sharing the
same interests (known as an affinity group) to bring a vaster consumer base to the opposite party.
Describe the need for marketing data. - Answer Marketing data can be used to analyze various metrics
of consumers within a market, such as:
Demographics
Psychographics
Geographics
Businesses can then use market segmentation based on these factors in order to determine a target
market, to whom they will tailor their marketing strategies.
Identify data monitored for marketing decision making. - Answer Demographics - age, sex, race, etc.
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