1. Distinguish among these terms: logistics, value delivery chain, and traditional inventory management. Why are these terms important?

2. What is a channel of distribution? What are the pros and cons of an direct channel of distribution? When should a firm NOT use a direct channel?

3. (a) Differentiate between intensive distribution and a dual channel. What are the advantages and disadvantages of each? (b) Distinguish between pulling and pushing strategies.

4. Distinguish among a merchant wholesaler, a food broker, and a manufacturer wholesaler.

5. What are the four basic functions provided by retailers? Be complete.

6. Cite at least four distinct goals of promotion. Apply your answer to _____________. [Note: The hierarchy-of-effects process is one goal.]

7. Describe the steps in the communication process.

8. Distinguish between public relations, publicity, and advertising. Be complete in your answer and apply your answer to a __________________________.

9. Explain each of these promotion terms: waste, clutter, reach, frequency, and sales promotion.

10. Differentiate between price and nonprice competition strategy. Under what circumstances is a non price strategy the better choice? Apply you answer to ______________________________.

11. Distinguish among cost-based, competition-based, and demand-based pricing. What pricing orientation do the best firms follow?

12. What factors determine whether demand for a product is elastic or inelastic? How does a consumer’s subjective price affect elasticity? Apply your answer to _______________.

13. Government policies have a strong impact on companies’ pricing decisions. Discuss the implications of government restrictions with regard to each of these practices: horizontal price fixing, price discrimination in selling to two competing retailers, predatory pricing, and price advertising.