[Solved] MRKT 310 Week 6 Quiz 6

MRKT 310 Week 6 Quiz 6 Submission View Your quiz has been submitted successfully. Question 1 1 / 1 point What value do marketing channels bring to the customer? Marketing channels provide value i ...

MRKT 310 Week 6 Quiz 6 Submission View Your quiz has been submitted successfully. Question 1 1 / 1 point What value do marketing channels bring to the customer? Marketing channels provide value in that they offer financing options for both the end user and the wholesaler. Effective marketing channels can mean the difference between a customer buying your product or a competing product. Marketing channels ensure the product or service is delivered on time. Marketing channels ensure customers get what, when and where they want their goods and services. View Feedback Question 2 1 / 1 point A company engages in demand planning when _________. the firm wants to demand that each channel members provides value to the next member of the value chain. intermediaries tell the firm how many of their products they can handle and move along the chain. create a customer service department to handle customer demands following receipt of their orders. determine in advance how much of the firm's product the customers will buy. View Feedback Question 3 1 / 1 point What determines how many intermediaries a firm should include in its marketing channel system? It depends on the distance of the factory from the retail locations where the product will be sold to the customer. It depends on the number of functions that need to be performed to sell to the end customer such as transportation, financing or promotion. The number of intermediaries depends on which functions needed to get to the end customers the manufacturer cannot perform on their own. The number of intermediaries depends on which channel partners can perform channel functions better or more efficiently than the company. View Feedback Question 4 1 / 1 point A company that sells its product direct to consumers via the internet is using a _________. direct channel indirect channel mono channel traditional channel View Feedback Question 5 1 / 1 point Michaels Craft Store (Michaels.com) would be an example of which type of channel partner? category killer superstore wholesaler convenience store View Feedback Question 6 1 / 1 point Diet Coke is an example of a product that is ______ selectively distributed intensively distributed exclusively distributed wholesale distributed View Feedback Question 7 1 / 1 point Walmart is a multi-billion dollar retail company that is a buyer from several consumer goods manufacturers. Many of their suppliers have moved to Bentonville, Arkansas, the Walmart headquarters. Why do you think suppliers have moved so close to Walmart headquarters? to be around many of the suppliers to Walmart for greater cooperation and training to be able to personally deliver all paperwork involved in transactions with their most important customer. to be able to meet with the president of the company as often as possible to ensure they can get to headquarters quicker than competitors to submit competitive bids and purchase orders View Feedback Question 8 1 / 1 point A local dermatologist has developed a new line of body scrub products for sensitive skin. She is unsure if she should sell her products through dermatologists' offices or through retail chains such as Sephora. Which explanation best describes why the marketing channel decision is as important as pricing and product features? because the skin scrub is like so many other products in that product category that selling through dermatologists offices would give it the aura of being an exclusive product. because place communicates to the customer something about the product's value proposition, which includes the benefits and price because it might be easier for her to make a distribution deal with Sephora, a national chain, as opposed to calling on individual doctor officers that may take too much time and money. because one channel may want a greater percentage of the sale than the other channel View Feedback Question 9 1 / 1 point Breakeven point refers to _______ the point at which the firm can finally make a profit. the point at which total costs equal total revenue. the point at which consumers have had enough of a product. the point at which revenue equals units sold. View Feedback Question 10 1 / 1 point Pricing strategies that are based on the marketing concept and the value equation are called: Cost-plus pricing Leader pricing Prestige pricing Customer-focused pricing View Feedback Question 11 1 / 1 point New products generally use which pricing strategies? cost plus or everyday low price strategies prestige pricing or leader pricing skimming or penetration pricing strategies skimming or cost plus pricing strategies View Feedback Question 12 1 / 1 point Demand for a product is said to be inelastic when ______. the price goes up the demand goes down. an increase in price will cause demand to go up or stay the same. the price goes up, consumers look for bargains. the price goes down, the product will end up in an outlet store View Feedback Question 13 1 / 1 point There are only a few dozen Rolls Royce dealerships spread across the United States, mainly in the extremely affluent cities. This is an example of ____________. franchise distribution exclusive distribution intensive distribution selective distribution View Feedback Question 14 0 / 1 point Which member of the channel system helps manufacturers control supply and demand conditions? warehousers transporters demand planners wholesalers View Feedback Question 15 1 / 1 point If Walmart and Target agreed to charge the same price for some of their electronic products they would be guilty of ______________. bait and switch price fixing predatory pricing price skimming