CLEP PRINCIPLES OF MARKETING CH 5
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| primary channel function | the physical distribution of products
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| distribution modes | *transportation *inventory mgmt *cs functions
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| sorting process | *accumulation *sorting *assorting
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| accumulation | process of assembling & pooling relatively small shipments to be transported for less
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| sorting | process of separating goods by quality, color, or size
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| assorting | a wide variety of merchandise acquired to meet diverse consumer wants *at retail level
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| direct channels | moving goods from the producer to the final consumer without using "middlemen"
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| indirect channels | moving goods with the cooperation and assistance of middlemen
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| channel width | the number of independent members at one level of the distribution channel
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| channel length | the number of levels used to create a distribution channel
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| intensive dist' strategy | selling through every potential outlet that will reach target mkt
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| selective dist' strategy | selling through many but not all potential wholesalers & retailers
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| exclusive dist' strategy | limits the number of outlets employed in one or two intermediaries within each mkt
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| types of distribution coordination systems | *corporate *contractual *administered
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| corporate dist channel | owning all channel members or the firms at the next level in the channel
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| contractual | arrangements specify performance terms for each independent channel member
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| administered | channel operations coordinated thru a dominant channel member
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| vertical integration | acquiring firms that operate at different channel levels* may up ops control
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| horizontal integration | acquiring firms that operate at the same channel level* up mkt share, competitive strength
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| multiple channels | separate dist' channels to reach new mkts, up mkt coverage, or distribute new products
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| channel control | ability to influence the actions of other channel members
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| channel conflict | disagreements between members over practices & policies
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| horizontal conflicts | channel conflicts between firms at the same channel level
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| vertical conflicts | channel conflicts between firms at different channel levels
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| pushing | offering middlemen promos in return for their cooperation IE sales promos, personal selling, and ads
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| pulling | generates consumer demand for the product as a means of securing support w/in the channel. appro for new products
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| goals of physical distribution | cost control& customer service
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| total cost concept | idea that low costs and satisfied customers are conflicting goals
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| total cost concept goal | provide a level of cs at the lowest total costs
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| distribution center concept | cross between one central inventory site (high transport costs) and multi sites (less inventory control)
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| distribution centers | a type of warehouse planned in relation to specific markets
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| sub-optimization | cost reducing actions in one distribution function that increases the overall cost of others
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| cs standard | different buyers need different service levels
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| order processing | the receipt and transmission of sales order information: entry handling delivery
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| electronic data interchange (edi) | a single system of order processing, production, inventory planning and transport
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| materials handling | the physical handling of goods in both the warehouse & transport functions
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| unit loading | refers to the grouping of boxes on a pallet or skid
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| containerization | the process of consolidating many items into one container
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| warehousing | designing and operating facilities for receiving sorting storing moving goods
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| types of warehouses | *private & public *distribution cntrs *bonded storage
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| order leadtime | the average length of time between the customer plaing order and receiving it
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| reorder point | the inventory level at which new orders need to be rplaced to avoid a stockout
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| stockout | a shortage of product resultignfrom carrying too few in inventory
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| usage rate | the rate at which inventory is osd per time poeriod
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| safety stock | the amount of extra inventory kept on hand to avoid stockouts
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| economic order quantity (eoq) | the order size that minmizes the total cost of ordering and carrying inventory
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| just-in-time (jit) | making products an materials available just as needed for porduction or resale
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| transportation modes | the means of moving goods from one location to another
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| modes of transport | railroads trucks waterways airways pipelines
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| megacarriers | freight transport companies that provide several shipment modes
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| inter-modal transportation | two or more transport modes used in combination
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| freight forwarders | specialized agencies providing alternate forms of transport coordination
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