80 notecards = 20 pages (4 cards per page)
________ refer(s) to intermediaries that sell products to other intermediaries for resale or to organizations for internal use.
Producers rely on a class of intermediaries called value-added resellers (VARs) to assist with which of the following functions?
Completing product solution
Which of the following is a defining characteristic of manufacturers' representatives?
Selling various non-competing products to customers in a specific region
Which of the following is a defining characteristic of distributors?
They take ownership, but not physical possession, of the goods they handle
Which of the following is an example of disintermediation?
A manufacturing firm supplies its products directly to the retailers, instead of selling them to the wholesaler
________ refers to an evolutionary process by which stores that feature low prices gradually upgrade until they no longer appeal to price-sensitive shoppers and are replaced by a new generation of leaner, low-price competitors.
wheel of retailing
________ refers to a type of specialty store that focuses on specific products on a massive scale and dominates retail sales in respective products categories.
Off-price retailers differ from discount stores in that off-price retailers ________.
off-price merchandise is bought from manufacturers with excess inventory at prices below wholesale price. while discount buys at full wholesale price, they just take less of a markup.
If a product requires significant technical skills to sell and support, what type of distribution process would be used?
Exclusive distribution/internal sales force
Why is a slotting allowance required by retailers with limited shelf space?
Help offset the financial risk of bringing new products
Market coverage refers to ________.
Number of wholesalers or retailers that will carry a product
Intensive distribution differs from selective distribution in that intensive distribution ________.
intensive tries to place a product in as many outlets as possible, while selective uses a few selected customers in a territory.
________ refer(s) to the coordinated use of multiple modes of transportation, particularly with containers that can be shipped by truck, rail, and sea.
How does logistics create competitive advantage, and therefore become a key strategy for companies?
Planning movement, flow of goods and related information throughout the supply chain; it creates cost efficiencies
What is the goal of the physical distribution process?
More finished products from the producer to the consumer, customer satisfaction with product.
Which of the following is the advantage of shipping a product by air?
Speed across long distances
The conventional promotion model differs from the social model of customer communication in that the conventional promotion model ________.
Tends to be intrusive and unidirectional. "we talk you listen", "lets have a convo"
Push strategy differs from pull strategy because in push strategy a producer ________
Focuses on intermediaries
________ refers to a creative tactic designed to capture the audience's attention and promote preference for the product or company being advertised.
Which of the following is an advantage of using newspapers as an advertising media?
Extensive local market coverage, low cost, credibility, geographic selectivity, short lead time for placing ads.
Which of the following is an advantage of product placement as an advertising medium?
It offers a way to get around viewers' advertising filters.
very low click-through rates, extreme degree of audience fragmentation, increasing clutter (pop up ads), not portables, ad-blocking software can prevent ads from being displayed,
personally addressable (letters, email, messages), doesn't involve the purchase of time or space in other media, direct response.
permission based email marketing
live chat, build relationships, and solve problems
understanding the customers specific needs
Financial accounting creates information for outsiders, whereas management accounting is for insiders.
to determine creditworthiness, Suppliers, banks, and other parties want to know whether a business is creditworthy; shareholders and other investors are concerned with its profit potential; government agencies are interested in its tax accounting.
CPA's and state licensing certification
Financial accounting standards boards(FASB)
loans by corporations to their own executives/directors
International financial reporting standards(IFRS)
long term use land, buildings, machinery, and equipment
the extent to which the venture has used debt and its ability to meet debt obligations.
sales are slowing down
the corporation is to repay the money borrowed from bondholders.
pay off its bonds prior to their maturity date for an amount greater than par value, or repurchase the bond before maturity
simplifying decision making
facilitate the buying and selling of stock
Most trading is done over the counter in a bond market, unlike the stock market, in which most buying and selling is coordinated by organizations
its prices fall to a particular point
unit of accounting
open market operations
The Federal Reserve raises the discount rate.
Federal deposit insurance corporation
reduce the money supply
Consumers will be able to afford larger mortgages.
Taxpayers should not bail out companies as no company is too big to fail. Dodd-Frank seeks to prevent bailouts of individual firms, although it allows the government to make moves to support the overall banking industry if needed.