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D&L
vocabulary 8
| Term | Definition |
|---|---|
| Agents | A business unit that negotiates purchases, sales, or both but does not take title to the goods in which it deals. |
| Channel of Distribution | An organized network (system) of agencies and institutions which, in combination, perform all the functions required to link producers with end customers to accomplish the marketing task |
| Distribution Center | A facility for the receipt, storage, and redistribution of goods to company stores or to customers. It may be operated by retailers, manufacturers, or distribution specialists |
| E-marketplace | an internet location owned by a company or consortium which allows other companies or individuals to get new suppliers or buyers for their products |
| Exclusive Distribution | A form of market coverage in which a product is distributed through one particular wholesaler or retailer in a given market area |
| Indirect Distribution | A channel whereby goods and services are sold indirectly from producer through independent middlemen to final users |
| Intensive Distribution | A form of market coverage in which a product is distributed through all available wholesalers or retailers who stock and sell the product in a given market area |
| Inventory | Goods or merchandise available for resale |
| Inventory Turnover | The number of times average inventory is sold during a specified time period (usually one year) |
| Physical Distribution | A concept or approach to managing the finished goods inventory of the firm. Typically it includes transportation, warehousing, inventory, and order processing functions of the firm |
| Rack Jobbers | A wholesale middleman operating principally in the food trade, supplying certain classes of merchandise that do not fit into the regular routine of food |
| Retailers | A merchant middleman who is engaged primarily in selling to ultimate consumers. One retailer may operate a number of establishments |
| Selective Distribution | A form of market coverage in which a product is distributed through a limited number of wholesalers or retailers in a given market area |
| Wholesalers | A merchant establishment operated by a concern that is primarily engaged in buying, taking title to, usually storing and physically handling goods in large |
| Balance of Trade | The difference between exports and imports. |
| Embargo | The prohibition of shipment of goods or services to designated countries |
| European Union (EU) | Free trade among European nations, all using the eruo. |
| Globalization | When a business sells the same product to other countries without any customization |
| International Trade | the exchange of goods and services among nations. |
| North American Free Trade Agreement (NAFTA | trade agreement between Canada, the United States, and Mexico |
| Tariff | A published set of rates for transportation and distribution services |
| World Trade Organization (WTO) | a global group of nations that make the rules governing international trade |
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