Marketing Textbook answers to study questions

Marketing Textbook answers to study questions - chapter 1...

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chapter 1 answers to study questions ANSWERS TO STUDY QUESTIONS 1. Globalization and technology developments have led to what some individuals have described as a “flat world.” What is the significance of the flat world concept? What is the impact of the flat world on supply chains? Answer: In his best selling book, The World Is Flat , Thomas Friedman, a staff writer for The New York Times , discusses 10 major forces that have helped to “flatten” the world from an economic perspective. One of the 10 forces is what he describes as supply chaining, a method of collaborating among businesses to manage the flow of goods, information, and cash to deliver “value” for the consumer. This type of collaboration has stretched vertically and horizontally on a global basis to become a cornerstone of competitive strategy for successful organizations in today's global marketplace. (Page 1) 2. The consolidation that has developed at the retail end of many supply chains has been described as the Wal-Mart effect. Why? What is the significance of retail consolidation for supply chains? Answer: In the 1990s, Wal-Mart became the leading retailer with a multi-faceted strategy based on discount pricing for brand name products, location in smaller communities, and more customer service. A key element in Wal-Mart’s ability to discount brand name products was an understanding of the criticality of efficiency in its logistics and supply chain system from purchasing through delivery to its stores and a continual focus on improving its supply chain processes. (Page 6) 3. Consumers are considered to have much more influence in the marketplace today. What factors have led to this “empowered consumer” situation? How has this factor changed supply chains in the last 10 to 15 years? Will this influence continue? Answer: The impact of the consumer is much more direct for supply chains
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Marketing Textbook answers to study questions - chapter 1...

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