Intermediaries must perform three basic functions. Name these functions, and describe the activities involved in each function.
What will be an ideal response?
TRANSACTIONAL FUNCTIONS include contacting and promoting (contacting potential customers, promoting products, soliciting orders), negotiating (determining how many goods or services to buy and sell, transportation types, delivery times, and payment method and timing), and risk taking (assuming the risk of owning inventory).
LOGISTICAL FUNCTIONS include physical distribution (transporting and storing goods to overcome temporal and spatial discrepancies) and sorting (overcoming discrepancies of quantity and assortment by sorting out, accumulating, allocating, and assorting).
FACILITATING FUNCTIONS include research (gathering information about other channel members and consumers) and financing (extending credit and other financial services to facilitate the flow of goods through the channel to the final consumer).
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Peter forgot to file his tax return by April 15. He did not file an extension. Peter finally filed his tax return on July 31 and had a remaining tax liability of $3,500. What is Peter's failure to file penalty? Assume he made all his payments on time.
A. $700. B. $350. C. $875. D. $525.
Estefan tells one of his staff that he is taking her off of probation since she has corrected her tardiness problem. Estefan is using
A. instrumentality. B. negative reinforcement. C. punishment. D. intrinsic motivation. E. positive reinforcement.
The Internet provides marketers and consumers with opportunities for much greater interaction and ________ than other marketing channels
A) control B) data security C) high involvement selling D) order conversion E) individualization
Which of the following is the most common inquiry method?
a. Graphology b. Pencil-and-paper tests c. Interviewing d. Polygraphs