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Marketing Chapter 12
Terms in this set (46)
Individuals and firms involved in the process of making a product or service available for use or consumption by consumers or industrial users.
Any intermediary between the manufacturer and end-user markets
Agent or broker
Any intermediary with legal authority to act on behalf of the manufacturer
An intermedairy who sales to other intermediary, usually to retailers; term usually applies to consumer markets
An intermediary who sells to consumers
An imprecise term, usually used to describe intermediaries who perfom a variety of distribution functions, inclusing selling, maintaining inventories, extending credit, and so on; a more common term in business markets but may also be used to refer to wholesalers
A more precise term that distributors that can mean the same as distributor, retailer, wholesaler, and so forth
What are the three basic functions performed by intermedairies
Refers to having a product or service when you want it. For example, FedEx provides next-morning delivery.
Means having a product or service available where consumers want it, such as having a Chevron gas station located on a long stretch of lonely highway.
Involves enhancing a product or service to make it more appealing to buyers. Consider the importance of bottlers in the soft-drink industry.
Entails efforts by intermediaries to help buyers take possession of a product or service, such as having airline tickets delivered by a travel agency
The blending of different communication and delivery channels that are mutually reinforcing in attracting, retaining, and building relationships with consumers who shop and buy in traditional intermediaries and online.
An arrangement whereby a firm reaches different buyers by employing two or more different types of channels for the same basic product.
strategic channel alliances
It is whereby one firm's marketing channel is used to sell another firm's products
Vertical marketing systems
Professionally managed and centrally coordinated marketing channels designed to achieve channel economies and maximum marketing impact
corporate, contractual, and administered
What are the three major types of vertical marketing systems?
corporate vertical marketing system
The combination of successive stages of production and distribution under a single ownership
contractual vertical marketing system
Independent production and distribution firms integrate their efforts on a contractual basis to obtain greater functional economies and marketing impact than they could achieve alone.
Wholesaler-sponsored voluntary chains
wholesaler that develops a contractual relationship with small, independent retailers to standardize and coordinate buying practices, merchandising programs, and inventory management efforts.
A contractual arrangement between a parent company (a franchisor) and an individual or firm (a franchisee) that allows the franchisee to operate a certain type of business under an established name and according to specific rules.
When a firm tries to place its products and services in as many outlets as possible.
When only one retailer in a specified geographical area carries the firm's products
When a firm selects a few retailers in a specific geographical area to carry its products.
Arises when one channel member believes another channel member is engaged in behavior that prevents it from achieving its goals.
vertical conflict and horizontal conflict
What are the two types of conflict that occur in marketing channels
A channel conflict that arises when a channel member bypasses another member and sells or buys a product direct
6.What are the three questions marketing executives consider when choosing a marketing channel and intermediaries?
Target market coverage
Those activities that focus on getting the right amount of the right products to the right place at the right time at the lowest possible cost.
The practice of organizing the cost-effective flow of raw materials, in-process inventory, finished goods, and related information from point of origin to point of consumption to satisfy customer requirements.
The various firms involved in performing the activities required to create and deliver a product or service to consumers or industrial users.
What are the three steps of marketing strategy
Understand the customer
Understand the supply chain
Harmoniz the supply chain with the marketing strategy
Total logistics cost
Expenses associated with transportation, materials handling and warehousing, inventory, stockouts (being out of inventory), order processing, and return products handling.
The ability of logistics management to satisfy users in terms of time, dependability, communication, and convenience
An inventory management system whereby the supplier determines the product amount and assortment a customer(such as retailer) needs and automatically delivers the appropriate
A process of reclaiming recyclable and reusable materials, returns, and reworks from the point of consumption or use for repair, remanufacturing, redistribution, or disposal.
A channel intermediary that acts on behalf of the seller but does not take title to products is called a(n)
agent or broker
Contacting potential customers, promoting products, and seeking orders would be an example of a(n) __________ function that intermediaries perform.
low-cost, low unit value items.
Adding a wholesaler to the marketing channel for consumer products is most common for
Electronic marketing channels employ the Internet to make products and services available for consumption or use by consumers or business buyers.
Which of the following statements regarding electronic marketing channels is most accurate?
Most of Lands' End's revenues come through catalog and Internet sales, but it also operates over a dozen retail stores and factory outlets. This makes Lands' End an example of a(n) __________ marketer.
achieve channel economies and maximum marketing impact.
The purpose of a vertical marketing system is to
Which of the following is the most popular type of vertical marketing system?
contractual vertical marketing systems
total inventory in the warehouse system will increase
Suppose a large retail chain is considering increasing the number of distribution centers that serve its retail stores from 6 to 20. If the number of suppliers, retail outlets, and customers remain unchanged, which of the following statements accurately describes what will happen as a result of this expansion?
Quick response systems
Inventory management systems that are designed to reduce a retailer's lead time for receiving merchandise, which then lowers its inventory investment, improves its customer service levels, and reduce its total logistics expense.
warehousing and materials handling
Total logistic cost factors in a supply chain include transportation, order processing, stockout, inventory, returns, and __________.
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