Two Students, Nick and Sean, Were Studying for an Upcoming

question 38

Multiple Choice

Two students, Nick and Sean, were studying for an upcoming exam in their introduction to marketing course. While studying the chapter on marketing channels and wholesalers, Nick made the following statement: "If it weren't for wholesalers and other intermediaries in the channel of distribution, the products we buy would cost a lot less!" After contemplating Nick's statement, Sean said, "Wait a minute. We learned in class that channel intermediaries actually make marketing more efficient by making transactions easier." Sean's statement refers to

• A)channel intermediary development.
• B)the relationships between channel intermediaries themselves.
• C)the value created by channel intermediaries.
• D)channel intermediary promotional efforts.
• E)an inaccurate statement by Lee; Nick was correct.

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Definitions:

Standard Deviation

Standard deviation is a statistical measure quantifying the amount of variation or dispersion from the average in a set of data.

Control Limits

The boundaries in a control chart within which a process metric is considered to be in a state of control; exceeding these limits signals a potential problem or variability.

Sample Range

The difference between the largest and smallest values in a statistical sample, used as a measure of statistical dispersion or variability.

Sample Size

The number of observations or data points that are selected from a larger population for the purpose of statistical analysis.