A Vertical Marketing System That Involves a Contractual Relationship Between

question 186

Multiple Choice

A vertical marketing system that involves a contractual relationship between a wholesaler and small independent retailers to standardize and coordinate buying practices,merchandising programs,and inventory management efforts is referred to as a(n)

• A)service-sponsored retail franchise system.
• B)retailer-sponsored cooperative.
• C)administered vertical marketing system.
• D)manufacturer-sponsored retail franchise system.
• E)wholesaler-sponsored voluntary chain.

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Definitions:

Agent

A person or entity authorized to act on behalf of another, often in a business or legal setting, to undertake specific actions or transactions.

Contract

A legally binding agreement between two or more parties that outlines obligations and rights of those parties.

Impliedly Warrants

Indicates that a warranty is given by implication, rather than expressly stated, based on the circumstances or nature of a transaction.

Authority

The power or right to give orders, make decisions, and enforce obedience.