Bus 101 - Ch. 15
Order by
22 terms
Terms | Definitions |
|---|---|
 Marketing Intermediary | Organizations that assist in moving goods and services from producers to business (BSB) and from businesses to consumers (B2C). |
| Channel of Distribution | A whole set of marketing intermediaries such as agents, brokers, wholesalers, and retailers, that join together to transport and store goods in their path (or channel) from producers to consumers. |
| Wholesaler | A marketing intermediary that sells to other organizations. |
| Retailer | An organization that sells to ultimate consumers. |
| Partial Wholesaler | ... |
| Agents/Brokers | Marketing intermediaries who bring buyers and sellers together and assist in negotiating an exchange but don't take title to the goods. |
| Utility | In economics, the want-satisfying ability, or value, that organizations add to goods or services. |
| Time Utility | Adding value to products by marking them available when they're needed. |
| Place Utility | Adding value to products by having them where people want them. |
| Form Utility | Changing raw materials or putting parts together to make them more useful.* |
| Possession Utility | Doing whatever is necessary to transfer ownership from one party to another, including providing credit, delivery, installation, guarantees, and follow-up service. |
| Information Utility | Adding value to products by opening two-way flows of information between marketing participants. |
| Service Utility | Adding value by providing fast, friendly service during and after the sale and by teaching customers how to best use products over time. |
| Specialty Retailers | Category of retail operations characterized by more narrow focus than a department store and offering a relatively narrow merchandise mix aimed at a particular target audience.* |
| Department Retailers | Sells a wide variety of products in separate departments.* |
| Chain Retailers | Operate multiple outlets under common ownership.* |
| Discount Retailers | Merchandise is below traditional retail prices; buy merchandise early in the season that can be reoffered over and over again; self-service; mass-manufacturing strategies; quantity discounts from manufacturers.* |
| Intensive Distribution | Distribution that puts products into as many retail outlets as possible. |
| Selective Distribution | Distribution that sends products to only a preferred group of retailers in an area. |
| Exclusive Distribution | Distribution that sends products to only one retail outlet in a given geographic area. |
| Non-Store Retailing | The selling of products outside the confines of a retail facility. For example, selling to final consumers through direct mail, catalogs, telephone, the internet, tv home shopping, home and office parties, and door to door.* |
| Supply Chains | The sequence of linked activities that must be performed by various organizations to move goods from the sources of raw materials to ultimate consumers. |
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