BUSML 3250 Exam 3
, Marketing Channel - CORRECT ANSWERS-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 ANSWERS-any intermediary with legal authority to act on
behalf of the manufacturer
Wholesaler - CORRECT ANSWERS-an intermediary who sells to other intermediaries,
usually to retailers; term usually applies to consumer markets
Transactional Functions - CORRECT ANSWERS-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 ANSWERS-Assorting: creating product assortments
from several sources to serve customers
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 ANSWERS-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 ANSWERS-a distribution channel in which producers sell
directly to consumers
Indirect Channel - CORRECT ANSWERS-intermediaries are inserted between the
producer and consumers and perform numerous channel functions
Direct to Consumer Marketing Channels - CORRECT ANSWERS-allow consumers to
buy products by interacting with various print or electronic media without a face-to-face
meeting with a salesperson
Multichannel / Omnichannel Marketing - CORRECT ANSWERS-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
, Marketing Channel - CORRECT ANSWERS-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 ANSWERS-any intermediary with legal authority to act on
behalf of the manufacturer
Wholesaler - CORRECT ANSWERS-an intermediary who sells to other intermediaries,
usually to retailers; term usually applies to consumer markets
Transactional Functions - CORRECT ANSWERS-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 ANSWERS-Assorting: creating product assortments
from several sources to serve customers
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 ANSWERS-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 ANSWERS-a distribution channel in which producers sell
directly to consumers
Indirect Channel - CORRECT ANSWERS-intermediaries are inserted between the
producer and consumers and perform numerous channel functions
Direct to Consumer Marketing Channels - CORRECT ANSWERS-allow consumers to
buy products by interacting with various print or electronic media without a face-to-face
meeting with a salesperson
Multichannel / Omnichannel Marketing - CORRECT ANSWERS-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
