A vertical marketing system (VMS) consists of vertically aligned networks behaving and performing as a unified system. Explain the three different ways they can be set up.
What will be an ideal response?
1. In corporate VMS, a channel member owns the others by investing in backward or forward vertical integration by buying a controlling interest in other intermediaries.
2. A contractual VMS consists of otherwise independent entities that are bound together legally through contractual agreement.
3. An administered VMS simply forces cooperation through sheer clout within the channel.
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In the context of barriers to social perception, which of the following best defines self-fulfilling prophecy?
A. It is the overestimation of the number of people who share our own beliefs, values, and behaviors. B. It is our tendency to prefer information that supports our viewpoints. C. It is the formation of lasting opinions about an individual based on initial perceptions. D. It is a belief that allows our expectations about people to affect our interaction with them in such a way that those expectations are fulfilled.
Which of the following is true of nominal partners?
A. They have an equal say in the management of the business. B. They are held liable as full partners in some cases. C. They are responsible for the day to day upkeep of the business. D. They contribute financially to the partnership.
Which one of the following is a concern expressed by suppliers in JIT partnerships?
A) having too many customers B) delivery to the point of use C) having limited ability to respond to changes in product and quality D) large lot sizes E) customers' infrequent engineering changes
The ________ is the volume at which total revenues equal total costs
Fill in the blanks with correct word