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MKTG 329 EXAM 3 QUESTIONS AND ANSWERS
What are some of the characteristics of the traditional approach to logistics? - ANSWER Works on short term of time horizon, doesn't require channel leadership, works upon warehouse orientation, and joint planning based upon transactions
What are some of the characteristics of the supply chain management approach to logistics? - ANSWER Works on long term time horizon, requires channel leadership, works upon distribution center orientation, and joint planning is based on ongoing process
What are the 4 major areas of interface between channel management and logistics management? - ANSWER Defining channel member service standards, making sure standards are met, selling the program, monitor the program
What three methods are utilized to sell the program to channel members? - ANSWER Minimizing out-of-stock occurrences, reducing channel member inventory requirements, and strengthening the manufacturer-channel member relationship
What are two ways channel members can obtain sales data? - ANSWER The sales of the manufacturer to the channel member and the channel member's sale of the manufacturer's products to consumers
What are the 3 ways to evaluate sales data? - ANSWER Compare channel member's current sales to historical sales, compare member's sales to other member's sales, and compare member's sales to preset quotas
What are the 7 questions for evaluating growth prospects? - ANSWER 1. Does past performance indicate that sales of the manufacturer's products are likely to keep pace with those projected
- Has channel member's performance been keeping with gen level of business in the area?
- Is channel member's org expanding?
- Are channel member's personnel # growing and becoming higher qualified
- Is there the possibility for the channel member to be in jeopardy?
- Does the channel member have capacity to meet market expansion?
- What are the channel member's est. medium- and long-range outlooks?
What are the advantages/disadvantages of separate performance evaluations? - ANSWER Allows evaluation of a large number of channel members and is simple/fast. Offers little insight into overall performance.
What are the advantages/disadvantages of multiple criteria combined informally? - ANSWER Advantages are simplicity and flexibility. Disadvantages are trade-offs in performance ratings, making performance comparisons among channel members, and doesn't offer single quantitative index reflecting performance.
What are the advantages/disadvantages of multiple criteria combined formally? - ANSWER The advantages are weights are assigned to the criteria and the assc. operational performance measures are made explicit. The disadvantage is several criteria categories combined w/several operational measures per criteria can be cumbersome.
Define electronic marketing channels - ANSWER The use of the Internet to make products and services available so that the target market with access to computers or enabling devices can shop and complete the transaction for purchase via interactive electronic means
What does available mean when used in terms of electronic marketing channels - ANSWER The definition does not imply physical availability of the product over the Internet.
What does other enabling devices mean when used in terms of electronic marketing channels - ANSWER All other technologies that allow access to the Internet besides desktop and laptop computers
How does the design of an electronic channel affect the management of channel members? - ANSWER Multichannel challenge of traditional and electronic channels require manager's full attention to motivate channel members build coop manage conflict and coordinate elements of the marketing mix
How does electronic channel design affect the evaluation of the channel members? - ANSER Specific criteria for performing the evaluations and technological means to do so is likely to change
Discuss the following statement "Franchise channels are just a particular type of marketing channel." - ANSER True, however, franchise channels present their own set of peculiarities.
Discuss the rationale for franchising from the franchisor point of view-ANSWER Capital advantages, potential to reduce distribution costs, and possible high level of motivation fostered by franchising
Discuss the rationale for franchising from the franchisee point of view-ANSWER Uncertainty going into business is reduced, franchisor's offer well-known product/ service, initial/continuing assistance from franchisors, and enables individual to enter business that was previously unable
What are the major factors affecting scope and frequency of channel member performance evaluations - ANSWER degree of control, importance of channel members, and nature of the product
What are the advantages of electronic channels - ANSWER global scope and reach, convenience/rapid transaction processing, info processing efficiency and flexibility, data-based management and relationship capabilities, and lower sales/distribution costs
What are the disadvantages of electronic channels - ANSWER lack of contact with actual products/delayed possession, fulfillment logistics not as fast/efficient as the Internet, clutter for buyers/sellers, and nonpurchase motives for shopping not addressed
Disadvantages of franchising from the POV of the franchisor - ANSWER Limited flexibility, overly high expectations from the franchisee, and increased legal scrutiny from state/fed regulators
Disadvantages of franchising from the perspective of the franchisee - ANSWER limited independence of the franchisee, royalty fees, and the negative halo effect
What the 5 key differences of a service compared to products - ANSWER intangibility, inseparability, perishability, involvement of customers, and degree of standardization
Does the risks of SCM outweigh the benefits? - ANSWER It depends
What are the 4 dimensions of risks should channel members consider? Geography/geopolitics, logistics, decarbonization/sustainability, and suppliers health
What are 6 trends for supply chains? Supply chains are going green, rise of elastic supply chains, increase in AR VR AI, blockchain tools, more agile supply chains, better transparency/visibility supply chain
