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Marketing Chapter 15
| Term | Definition |
|---|---|
| distribution | the decisions and activities that make products available to customers when and where they want to purchase them |
| 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 |
| 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 of value from raw material to final customer and back to redesign and final disposition |
| supply-chain management | set of approaches used to integrate the functions of operations management, logistics management, supply management, and marketing channel management so products are produced and distributed in the right quantities, to right locations, 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 |
| industrial distributor | an independent business organization that takes title to industrial products and carries inventories |
| dual distribution | 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 |
| channel captain | the dominant leader of a marketing channel or a supply channel |
| channel power | the ability of one channel member to influence another member's goal achievement |
| vertical channel integration | combining two or more stages of the marketing channel under one management |
| vertical marketing systems (VMSs) | 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 |
| physical distribution | activities used to move products from producers to consumers and other end users |
| outsourcing | the contracting of physical distribution tasks to third parties |
| cycle time | the time needed to complete a process |
| order processing | the receipt and transmission of sales order information |
| electronic data interchange (EDI) | a computerized means of integrating order processing with production, inventory, accounting, and transportation |
| inventory management | developing and maintaining adequate assortments of products to meet customers' needs |
| just-in-time (JIT) | an inventory-management approach in which supplies arrive just when needed for production or resale |
| materials handling | physical handling of tangible goods, supplies, and resources |
| warehousing | the design and operation of facilities for storing and moving goods |
| private warehouses | company-operated facilities for storing and shipping products |
| public warehouses | storage space and related physical distribution facilities that can be leased by companies |
| distribution centers | large, centralized warehouses that focus on moving rather than storing goods |
| transportation | the movement of products from where they are made to intermediaries and end users |
| intermodal transportation | two or more transportation modes used in combination |
| freight forwarders | organizations that consolidate shipments from several firms into efficient lot sizes |
| megacarriers | freight transportation firms that provide several modes of shipment |
| tying agreement | an agreement in which a supplier furnishes a product to a channel member with the stipulation that the channel member must purchase other products as well |
| exclusive dealing | a situation in which a manufacturer forbids an intermediary to carry products of competing manufacturers |
Created by:
lilready44
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