12 terms

IB Business and Management MARKETING 4.5d Place

IB Business Management Marketing 4.5 PLACE
STUDY
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Terms in this set (...)

Channel of distribution
The chain of intermediaries a product passes through from producer to consumer
Agent
Business with authority to act on behalf of another firm; e.g. to market its products
Broker
A wholesaler who does not take title to goods and whose function is to bring buyers and sellers together and assist in negotiation
Supply chain management
The process of managing the network of businesses that are involved in the provision of products to the final consumer
Direct mail
Promotional material sent directly to people's homes or place of work
Direct marketing
Any promotional activity that involves making direct contact with existing or potential customers, such as door-to-door selling, personal selling and direct mail
Distribution
The process of getting products to customers at the right time and in the most cost-effective way; it is the PLACE in the marketing mix
Distributors
Are independent businesses that act as intermediaries by specialising in the trade of products made by certain manufacturers
Intermediaries
Agents or firms that act as a middle person in the chain of distribution between the producers and consumers of a product
Telemarketing
The use of telephone systems (calls and messaging) to sell products directly to consumers (also called telesales)
Retailers
The sellers of products to the general public (i.e. consumers) that operate in outlets
Wholesalers
Businesses that purchase large quantities of products from a manufacturer and then separate or 'break' the bulk purchases into smaller units for resale to retailers