What is a vertical marketing system (VMS)? What are the various types VMSs?
What will be an ideal response?
A vertical marketing system includes the producer, wholesaler(s), and retailer(s) acting as a unified system. One channel member, the channel captain, owns or franchises the others or has so much power that they all cooperate. There are three types of VMSs: corporate, administered, and contractual.
A corporate VMS combines successive stages of production and distribution under single ownership.
An administered VMS coordinates successive stages of production and distribution through the size and power of one of the members. Manufacturers of dominant brands can secure strong trade cooperation and support from resellers.
A contractual VMS consists of independent firms at different levels of production and distribution, integrating their programs on a contractual basis to obtain more economies or sales impact than they could achieve alone.
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One of the criteria for choosing your speech is limiting the ______ of your topic so that it fits the time allotted for your speech.
Fill in the blank(s) with the appropriate word(s).
GlaxoSmithKline sponsored a weight-loss community in preparation for the launch of its first weight-loss drug, Alli. Which of the following could be a key marketing benefit of forming an online community?
A) A community enables GlaxoSmithKline to create opinion leaders. B) Users generate their own content, so ads may appear near a variety of messages. C) Two-way information flow can give the company customer information and insights. D) The community can become a point of contact for product recalls. E) An online community offers controllable one-way communication with customers.
Jean Claude has just completed a new line of designer handbags. He wants the price to communicate to the customer that the handbags are high quality and exclusive, so he sets the price high. He knows that after this season, the price may need to decrease as the market evolves. Jean Claude is using a ________ strategy.
A. penetration pricing B. price skimming C. target ROI D. competitor-based pricing E. value pricing
______ production process is continuous or repetitive.
A. Batch B. Job-shop C. Alternative D. Line