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FCSDIB-Ch 18

Int. Business Vocab Ch 18

TermDefinition
agent (or broker) an intermediary that brings together buyers & sellers but does not take ownership of the products
customs broker an intermediary that specializes in moving goods through the customs process
direct distribution channel producers sell goods & services directly to the final user
distribution channel the path taken by a good or service to get from the producer to the final user
dumping the practice of selleng exported products at a lower price than that asked in the company's home country
export management company (EMC) a company that provides complete distribution services for businesses that desire to sell in foreign markets
export trading company (ETC) a full-service global distribution intermediary
freight forwarder a company that arranges to ship goods to customers in other countries
indirect distribution channel goods or services are sold with the use of one or more intermediaries between the producer & the consumer
intermediary any person or organization in the distribution channel that moves goods & services from the producer to the consumer
loss leader a very low-priced item used to attract customers to a store
markup the amount added to the cost of a product to determine the selling price
penetration pricing setting a relatively low introductory price for a new product
retailer a store or other business that sells directly to the final user
skim pricing setting a relatively high introductory price for a new product
wholesaler a business that buys large quantities of an item & resells them to a retailer
Created by: fcsdklw
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