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Mktg Final Exam Chp 15

Terms in this set (18)

Supply Chain
All the activities associated with the flow and transformation of products from raw materials through to the end customer
Operations Management
The total set of managerial activities used by an organization to transform resource inputs into products, services or both
Logistics Management
Planning, implementing, and controlling the efficient and effective flow and storage of products and information from the point of origin to consumption to meet customers' needs and wants
Supply Management
In its broadest form, refers to the processes that enable the progress to value from raw material to final customer and back to redesign and final disposition
Supply-chain management
A set of approaches used to integrate the functions of operations, logistics, supply, and marketing channel management so products are produced and distributed in the right quantities, to the right locations, and at the right time
Marketing channel
A group of individuals and organizations that direct the flow of products from producers to customers within the supply chain
Marketing intermediaries
Middlemen that link producers to other intermediaries or ultimate consumers through contractual arrangements or through the purchase and resale of products
Dual distributor
The use of two or more marketing channels to distribute the same products to the same target market
Strategic channel alliance
An agreement whereby the products of one organization are distributed through the marketing channels of another
Intensive distribution
Using all available outlets to distribute a product
Selective distribution
Using only some available outlets in an area to distribute a product
Exclusive distribution
Using a single outlet in a fairly large geographic area to distribute a product
Vertical channel integration
Combining two or more stages of the marketing channel under one management
Vertical marketing system (VMS)
A marketing channel managed by a single channel member to achieve efficient, low-cost distribution aimed at satisfying target market customers
Horizontal channel integration
Combining organizations at the same level of operation under one management
Corporate VMS
Combines all stages of the marketing channel, from producers to consumers, under a single owner
Administered VMS
Channel members are independent, but a high level of inter-organizational management is achieved through informational coordination
Contractual VMS
The most popular type of VMS, channel members are linked by legal agreements spelling out each member's rights and obligations
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