A Code of Ethics Identifies How a Professional in the Industry

question 14

True/False

A code of ethics identifies how a professional in the industry must respond when faced with ethical questions.

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Definitions:

Channel Conflict

Occurs when there is a clash or discord among channel members such as manufacturers, distributors, and retailers, often due to overlapping responsibilities or competition.

Exclusive Distribution

A distribution strategy where a supplier grants a single retailer or wholesaler exclusive rights to sell their product in a specific geographic area.

Point of Difference

A unique feature or benefit that sets a product or service apart from its competitors in the eyes of target customers.

Channel Conflict

A situation where channels for the same product or service compete with each other, potentially reducing profitability for one or all channels involved.