BUSML 3250 Exam 3 2026 Questions and
Answers
Marketing Channel - Correct answer-consists of individuals and firms involved in
the process of making a product or service available for use or consumption by
consumers or industrial users
Agent or Broker - Correct answer-any intermediary with legal authority to act on
behalf of the manufacturer
Wholesaler - Correct answer-an intermediary who sells to other intermediaries,
usually to retailers; term usually applies to consumer markets
Transactional Functions - Correct answer-Buying: Purchasing products for resale
or as an agent for supply of a product
Selling: Contacting potential customers, promoting products, and seeking orders
Risk Taking: Assuming business risks in the ownership of inventory that can
become obsolete or deteriorate
Logistical Functions - Correct answer-Assorting: creating product assortments
from several sources to serve customers
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,Storing: assembling and protecting products at a convenient location to offer better
customer service
Sorting: purchasing in large quantities and breaking into smaller amounts desired
by customers
Transporting: physically moving a product to customers
Facilitating Functions - Correct answer-Financing: extending credit to customers
Grading: inspecting, testing, or judging products, and assigning them quality
grades
Marketing information and research: providing information to customers and
suppliers, including competitive conditions and trends
Direct Channel - Correct answer-a distribution channel in which producers sell
directly to consumers
Indirect Channel - Correct answer-intermediaries are inserted between the producer
and consumers and perform numerous channel functions
Direct to Consumer Marketing Channels - Correct answer-allow consumers to buy
products by interacting with various print or electronic media without a face-to-
face meeting with a salesperson
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, Multichannel / Omnichannel Marketing - Correct answer-the blending of different
communication and delivery channels that are mutually reinforcing in attracting,
retaining, and building relationships with consumers who shop and buy in
traditional intermediaries and online
Vertical Marketing Systems - Correct answer-professionally managed and centrally
coordinated marketing channels designed to achieve channel economies and
maximum marketing impact
Corporate vertical marketing system - Correct answer-the combination of
successive stages of production and distribution under a single ownership
Intensive Distribution - Correct answer-a level of distribution density whereby a
firm tries to place its products and services in as many outlets as possible
Exclusive Distribution - Correct answer-a level of distribution density whereby
only one retailer in a specific geographical area carries the firm's products
Selective Distribution - Correct answer-a level of distribution density whereby a
firm selects a few retailers in a specific geographical area to carry its products
Buyer Requirements (four categories) - Correct answer-Information, convenience,
variety, and pre- or postsale services
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Answers
Marketing Channel - Correct answer-consists of individuals and firms involved in
the process of making a product or service available for use or consumption by
consumers or industrial users
Agent or Broker - Correct answer-any intermediary with legal authority to act on
behalf of the manufacturer
Wholesaler - Correct answer-an intermediary who sells to other intermediaries,
usually to retailers; term usually applies to consumer markets
Transactional Functions - Correct answer-Buying: Purchasing products for resale
or as an agent for supply of a product
Selling: Contacting potential customers, promoting products, and seeking orders
Risk Taking: Assuming business risks in the ownership of inventory that can
become obsolete or deteriorate
Logistical Functions - Correct answer-Assorting: creating product assortments
from several sources to serve customers
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
,Storing: assembling and protecting products at a convenient location to offer better
customer service
Sorting: purchasing in large quantities and breaking into smaller amounts desired
by customers
Transporting: physically moving a product to customers
Facilitating Functions - Correct answer-Financing: extending credit to customers
Grading: inspecting, testing, or judging products, and assigning them quality
grades
Marketing information and research: providing information to customers and
suppliers, including competitive conditions and trends
Direct Channel - Correct answer-a distribution channel in which producers sell
directly to consumers
Indirect Channel - Correct answer-intermediaries are inserted between the producer
and consumers and perform numerous channel functions
Direct to Consumer Marketing Channels - Correct answer-allow consumers to buy
products by interacting with various print or electronic media without a face-to-
face meeting with a salesperson
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
, Multichannel / Omnichannel Marketing - Correct answer-the blending of different
communication and delivery channels that are mutually reinforcing in attracting,
retaining, and building relationships with consumers who shop and buy in
traditional intermediaries and online
Vertical Marketing Systems - Correct answer-professionally managed and centrally
coordinated marketing channels designed to achieve channel economies and
maximum marketing impact
Corporate vertical marketing system - Correct answer-the combination of
successive stages of production and distribution under a single ownership
Intensive Distribution - Correct answer-a level of distribution density whereby a
firm tries to place its products and services in as many outlets as possible
Exclusive Distribution - Correct answer-a level of distribution density whereby
only one retailer in a specific geographical area carries the firm's products
Selective Distribution - Correct answer-a level of distribution density whereby a
firm selects a few retailers in a specific geographical area to carry its products
Buyer Requirements (four categories) - Correct answer-Information, convenience,
variety, and pre- or postsale services
©COPYRIGHT 2025, ALL RIGHTS RESERVED 3
