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Chapter 14
Marketing
| Term | Definition |
|---|---|
| form utility | the elements of the composition and appearance of a product that make it desirable |
| time utility | the increase in customer satisfaction gained by making a good or service available at the appropriate time |
| place utility | the usefulness of a good or service as a function of the location at which it is made available |
| exchange utility | the increased value of a product that is created as its ownership is transferred |
| retailer | a channel intermediary that sells mainly to consumers |
| merchant wholesaler | an institution that buys goods from manufacturers and resells them to businesses, government agencies, and other wholesalers or retailers and that receives and takes title to goods, stores them in its own warehouses, and later ships them |
| agents and brokers | wholesaling intermediaries who do not take title to a product but facilitate its sale from producer to end user by representing retailers, wholesalers, or manufacturers |
| direct channel | a distribution channel in which producers sell directly to customers |
| dual distribution | the use of two or more channels to distribute the same product to target markets |
| nontraditional channels | non-physical channels that facilitate the unique market access of products and services |
| strategic channel alliance | a cooperative agreement between business firms to use the other's already established distribution channel |
| intensive distribution | a form of distribution aimed at having a product available in every outlet where target customers might want to buy it |
| selective distribution | a form of distribution achieved by screening dealers to eliminate all but a few in any single area |
| exclusive distribution | a form of distribution that establishes one or a few dealers within a given area |
| arms-length relationship | a relationship between companies that is loose, characterized by low relational investment and trust, and usually taking the form of a series of discrete transactions with no or low expectation of future interaction or service |
| cooperative relationship | a relationship between companies that takes the form of informal partnership with moderate levels of trust and information sharing as needed to further each company's goals |
| integrated relationship | a relationship between companies that is tightly connected, with linked processes across and between firm boundaries and high levels of trust and inter-firm commitment |
| channel power | the capacity of a particular marketing channel member to control or influence the behavior of other channel members |
| channel control | a situation that occurs when one marketing channel member intentionally affects another member's behaviors |
| channel captain | a member of a marketing channel that exercise authority and power over the activities of other channel members |
| channel conflict | a clash of goals and methods between distribution channel members |
| horizontal conflict | a channel conflict that occurs among channel members on the same level |
| vertical conflict | a channel conflict that occurs between different levels in a marketing channel, most typically between the manufacturer and wholesaler or between manufacturer and retailer |
| channel partnering | the joint effort of all channel members to create a channel that serves customers and creates a competitive advantage |
| retailing | all the activities directly related to the sale of good and services to the ultimate consumer for personal, nonbusiness use |
| independent retailer | a retailer owned by a single person or partnership and not as part of a larger retail institution |
| chain store | a store that is part of a group of the same stores owned and operated by a single operation |
| franchise | a relationship in which the business rights to operate and sell a product are granted by the franchisor to the franchisee |
| gross margin | the amount of money the retailer makes as a percentage of sales after the COGS is subtracted |
| scrambled merchandising | the tendency to offer a wide variety of nontraditional goods and services under one roof |
| factory outlet | an off-price retailer that is owned and operated by a manufacturer |
| nonstore retailing | shopping without visiting a store |
| automatic vending | the use of machines to offer goods for sale |
| direct retailing | the selling of products by representatives who work door-to-door, office-to-office, or at home sales parties |
| direct marketing (direct response marketing) | techniques used to get consumers to make a purchase from their home, office, or other nonretail setting |
| telemarketing | the use of the telephone to sell directly to consumers |
| shop-at-home television network | a specialized form of direct-response marketing where shows display merchandise for viewers to purchase over the telephone with a credit card |
| online retailing (e-tailing) | a type of shopping available to consumers with personal computers and access to the internet |
| franchisor | the originator of a trade name, product, methods of operation, and the like that grants operating rights to another party to sell its product |
| franchisee | an individual or business that is granted the right to sell another party's products |
| retailing mix | a combination of the six P's - product, place, promotion, price, presentation, personnel - to sell good and services to the ultimate consumer |
| destination store | a store that consumers purposely plan to visit |
| atmosphere | the overall impression conveyed by a store's physical layout, décor, and surroundings |
| layout | the internal design and configuration of a store's fixtures and products |
| data mining | the process of discovering patterns in large data sets for the purposes of extracting knowledge and understanding human behavior |
| m-commerce | the ability to conduct commerce using a mobile device for the purpose of buying or selling goods or services |
Created by:
bdavid16
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