What is a vertical marketing system$($VMS$)?$

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Part $1$

A$.$

A channel arrangement in which$$ producers, wholesalers, and retailers act as a unified system

B$.$

A channel arrangement in which$$ producers, wholesalers, and retailers act independently from one another

C$.$

A type of disintermediation

D$.$

A channel arrangement in which two channel members at the same level partner to exploit an opportunity

E$.$

A channel arrangement in which manufacturers sell directly to buyers