Take the quiz test your understanding of the key concepts covered in the chapter. Try testing yourself before you read the chapter to see where your strengths and weaknesses are, then test yourself again once you’ve read the chapter to see how well you’ve understood. Show 1. In marketing, ‘place’ is another term for location. True or false? True False 2. A supply chain is a network of businesses and organisations through which goods pass to get to their final destination. True or false? True False 3. The Internet has opened up new channels of distribution. True or false? True False 4. One of the primary functions of packaging is to protect goods in transit. True or false? True False
5. Services cannot be exported. True or false? True False 6. What is an alternative term for a distribution channel?
Answer: a. marketing channel 7. What is a distribution channel?
Answer: c. a product’s route through the supply chain 8. Rolex sells its watches through a number upmarket retail partners (e.g. department stores and jewellers) with comparatively few stores. What is this type of distribution strategy called?
Answer: a. selective distribution 9. What kind of intermediary is Tesco?
10. What is a warehouse club?
Answer: b. a large store offering wholesale prices to members only 11. What are businesses that represent, and sell goods on behalf of, other businesses in a specified market called?
12. What does EPOS stand for?
Answer: e. electronic point of sale 13. The International Chamber of Commerce has devised a set of rules for the interpretation of international terms and conditions. These rules set out how activities, costs and risks are to be split between the buyer and seller. What are they called?
14. How many levels of intermediaries are there in a direct sales channel?
15. Luxury goods such as high fashion and designer clothing would normally have very few, (possibly only one), distribution outlets. What is the term for this?
Answer: a. exclusive distribution 16. Tucker’s foods buy their fruit straight from the farm. They then make it into jam and other products and sell it on to wholesalers who in turn sell to retailers such as Sainsbury’s. How many levels are there in this supply chain?
17. Dombey and Sons produce a sparkling drink from apples grown on their own farm. They employ a small French firm to sell the drink to wholesalers in France. This French firm is acting as:
18. Dizzy Designs make their clothes in the UK and then ship them to their own retail outlets in France, Spain and Germany. What kind of operation is this?
19. According to many retailers, what are the three secrets to their business success?
Answer: c. location, location and location 20. What is the function of transporting and storing physical goods for the various members of the supply chain known as?
21. Place, or distribution, is often summed up as getting the right ______ to the right place at the right time. 22. At each stage in the supply chain, ______ is added to the bought in product (i.e. it is transformed into something more desirable and so can command a higher price). 23. A ______ is one of a chain of shops that are individually owned but licensed by a larger company to sell their products (e.g. the Body Shop or Baskin Robbins). The larger company also provides expertise. 24. The ______ Mark shows consumers that the farmers that produced the products received a fair and stable price. They also have safe working conditions and stronger rights and treat the environment with care. 25. The use of different types of channel (e.g. high street stores as well as the internet) to reach the same potential target market is known as _____ distribution. Which of the following statement about the term used for marketing intermediaries is true?a) The most precise terms used to describe marketing intermediaries are dealer and distributorb) A retailer sells to business marketsc) An agent has legal authority to act on behalf of a manufacturerd) A wholesaler is an intermediary who sells to consumerse) A broker is a synonym for a dealerAns: cFeedback: Dealer and ...
What do marketing intermediaries do quizlet?Marketing Intermediaries -- Organizations that assist in moving goods and services from businesses to businesses (B2B) and from businesses to consumers (B2C). Agents and Brokers -- Intermediaries who bring buyers and sellers together and assist in negotiating an exchange but do not take title to the goods.
Who are the market intermediaries?independent firms which assist in the flow of goods and services from producers to end-users; they include agents, wholesalers and retailers; marketing services agencies; physical distribution companies; and financial institutions. Also referred to as Middlemen.
What is the role of intermediaries in a market?The intermediaries handle different operations and work interconnectedly to ensure the seamless functioning of the securities market. Through these entities, SEBI regulates the market functions. More entities have other workings in the market.
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Which of the following statements about the term used for marketing intermediaries is true?
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