Podcast
Questions and Answers
Franchisors agree to operate outlets in accordance with procedures prescribed by its franchisees.
Franchisors agree to operate outlets in accordance with procedures prescribed by its franchisees.
False
Offering to buy more of a product if a manufacturer lowers its wholesale price is an example of _________ power.
Offering to buy more of a product if a manufacturer lowers its wholesale price is an example of _________ power.
reward
Which vertical marketing system gives complete power to the parent company?
Which vertical marketing system gives complete power to the parent company?
In a ______, members of the channel pursue their own goals and maximize their own profits, regardless of the effect on other channel members.
In a ______, members of the channel pursue their own goals and maximize their own profits, regardless of the effect on other channel members.
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Which statement about marketing channels is true?
Which statement about marketing channels is true?
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Another term for marketing channel management is ______ management.
Another term for marketing channel management is ______ management.
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Using demand notifications to notify sales associates who can physically pull an item from store shelves and verify its availability is part of __________ task management.
Using demand notifications to notify sales associates who can physically pull an item from store shelves and verify its availability is part of __________ task management.
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Manufacturers make products and sell them to ______, who resell the merchandise to retailers.
Manufacturers make products and sell them to ______, who resell the merchandise to retailers.
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The first decision that is necessary to make merchandise flow is to choose a transportation company.
The first decision that is necessary to make merchandise flow is to choose a transportation company.
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To whom are a lump sum and royalties paid when a franchise opens?
To whom are a lump sum and royalties paid when a franchise opens?
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A wholesaler is ______.
A wholesaler is ______.
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What is the first decision to be made when considering merchandise flow?
What is the first decision to be made when considering merchandise flow?
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A direct marketing channel sells a product from a manufacturer to a consumer ______.
A direct marketing channel sells a product from a manufacturer to a consumer ______.
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In the management of market channels, a strategic relationship is also known as ______.
In the management of market channels, a strategic relationship is also known as ______.
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The integration of suppliers, manufacturers, warehouses, stores, and transportation intermediaries is called ______ management.
The integration of suppliers, manufacturers, warehouses, stores, and transportation intermediaries is called ______ management.
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In a ______ relationship, the supply chain members are partners who intend to maintain the relationship for quite some time and invest in ventures that will be profitable for all involved.
In a ______ relationship, the supply chain members are partners who intend to maintain the relationship for quite some time and invest in ventures that will be profitable for all involved.
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Relationships in supply chains ______.
Relationships in supply chains ______.
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The first flow of information (Flow 1) in a supply chain occurs from ______.
The first flow of information (Flow 1) in a supply chain occurs from ______.
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Study Notes
Franchising and Channel Structures
- Franchisors do not operate outlets under franchisees' procedures.
- Reward power is exemplified when a buyer offers more purchase if wholesale prices drop.
- Corporate vertical marketing systems grant total control to the parent company.
- Conventional marketing channels prioritize individual member profits, regardless of overall channel effects.
Marketing Channels Overview
- A marketing channel can integrate both direct and indirect channels.
- Supply chain management is synonymous with marketing channel management.
- Standard flow of information in marketing channels occurs between manufacturers, distribution centers, stores, and customers.
Supply Chain Dynamics
- Demand notifications alert sales associates for item availability verification through mobile task management.
- Wholesalers act as middlemen, purchasing goods from manufacturers to sell to retailers.
- The decision about merchandise flow initiation does not start with selecting a transportation company.
Franchise Financials and Marketing Channel Components
- In a franchise, lump sums and royalties are paid to the franchisor.
- Key components of marketing channels include warehouses and stores, excluding other entity types like environmental agencies.
Information Flow in Supply Chains
- Customer purchases initiate information flow to suppliers, distribution centers, and manufacturers.
- A wholesaler is defined as a business buying from manufacturers to sell to retailers.
Initial Decisions in Merchandise Flow
- The primary consideration in merchandise flow is determining the destination of goods.
- Direct marketing channels operate by selling direct from manufacturer to consumer without retailer involvement.
- Indirect channels can involve intermediaries like retailers and wholesalers.
Relationships in Supply Chains
- A strategic relationship in supply chains fosters long-term partnerships focused on mutual profitability.
- Interdependence is crucial as supply chain relationships are built on fulfilling each other’s needs.
- The first information flow in a supply chain occurs from customer to store, ensuring responsiveness to consumer demand.
Information Exchange
- Supply chain information circulates between manufacturers, wholesalers, and distribution centers but excludes competitors.
Studying That Suits You
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Description
Test your knowledge on marketing concepts with these MKT 350 flashcards. Each flashcard presents a question or term related to franchise operations and marketing power dynamics. Perfect for students looking to reinforce their understanding of key marketing principles.
