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MGT 103 FINAL EXAM REVIEW Questions and Answers
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MGT 103 FINAL EXAM REVIEW Questions and Answers
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MGT 103 FINAL EXAMREVIEW Questions and
Answers
Marketing Channel of Distribution
✓✓~ consists of individuals and firms involved in the process of making
a product or service available for consumption by consumers or industrial
users. Buying something from Amazon, 7 Eleven, Kohl's all examples of
marketing channels
Types of Intermediaries
✓✓~ middleman, agent or broker, wholesaler, retailer, distributor,
dealer
Middleman
✓✓~ any intermediary between the manufacturer and end-user markets
agent/broker
,✓✓~ has legal authority to act on behalf of the manufacturer
wholesaler
✓✓~ sells to other intermediaries, usually retailers
retailer
✓✓~ sells goods directly to the customer
Types of intermediary functions
✓✓~ transactional, logistical, facilitating
transactional function
✓✓~ Buying products for resale, selling by contacting potential clients
and promoting, risk taking in business inventory
logistical function
✓✓~ assorting, storing products at locations, sorting large quantities
into desired amounts, transporting
Facilitating Function
,✓✓~ financing and extending credit to customers, grading and testing
products, marketing info and research that includes competitive trends
time utilty
✓✓~ having products available when the customer wants them
Place Utility
✓✓~ having a product available where customers can buy it and want to
buy it
Form utility
✓✓~ senhancing a product or service to make it more appealing to
buyers
possession utility
✓✓~ entails efforts by intermediaries to help buyers take possession of
a product or service
direct channel for consumers
, ✓✓~ Channel A; represents direct channels where producers and
consumers deal directly with each other
indirect channel for consumers
✓✓~ intermediaries are inserted between the producer and consumers
and perform numerous channel functions. Channel B, C and D
direct channels for business
✓✓~ Channel A; maintains own salesforce and performs all channel
functions
indirect channel for business
✓✓~ Adds industrial distributor (Channel B), agent (Channel C), or both
(Channel D) which is most ineffective
digital marketing channels
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