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Marketing Mngt3
Vocabulary Terms Chpt 12 + 13
| Question | Answer |
|---|---|
| intermediaries between company and customer that make product available. | Marketing Channel |
| suppliers, distributors and customers who work together to improve the performance of the entire system | value delivery network |
| different level of intermediaries between company and customer that work together to make the product available | channel level |
| a single marketing channel with no other levels ie; producer to consumer | direct marketing channel |
| contain one or more intermediaries ie; producer, to retailer, to consumer | indirect marketing channel |
| conflict between intermediaries about who should do what and what rewards they should receive | channel conflict |
| channel has one or more independent producers, wholesalers, and retailers that all try to maximize their own profit at the expense of the system | conventional distribution channel |
| system when a company consists of producers, wholesalers, and retailers that work together because someone has the upperhand. | vertical marketing |
| integrates production and distribution under single ownership | corporate VMS |
| Anything involved in selling products or service directly to final customers for personal use | retailing |
| A business whose sales come primarily from retailing | retailer |
| carry a few product lines with may assortment within those lines. ie; Tiffany & Co | specialty stores |
| carries a wide variety of product lines- each department managed by specialist buyers. ie; Macy's | department store |
| A large, low cost, self-service store that carries a wide variety of grocery and household product. ie; Ralphs | Supermarkets |
| small stores that carry a limited line of high turnover convenience goods. ie; 7-11 | convenience store |
| much larger than a regular supermarket and offer a large assortment of routinely purchased food products, non food items, and services. | Superstore |
| A giant specialty store that carries a deep assortment of one particular line and is staffed by knowledgeable employees | Category Killers |
| A retailer who sales service | service retailer |
| A retail operation that sales goods at lower prices by accepting lower margins and selling at a higher volume. ie; WalMart | Discount Store |
| A retailer that buys at less- than regular wholesale prices and sells them for cheap. ie; factory outlets | off- price retailer |
| A retailer that is either independently owned or ran by a division of a larger retail corporation. ex; TJ Maxx | Independent off- price retailer |
| A off-price retailer owned by a manufacturer and that carries the manufactures surplus, discounted, or irregular goods. ie; Liz Claiborne | Factory Outlets |
| An off- price retailer that sells a limited selection of brand name grocery item, appliances, clothing etc. at deep discounts to members who pay an annual fee. ie; Costco | Warehouse Club |
| Two or more outlets that are commonly owned and controlled | Chain Stores |
| contract between a manufacturer and independent business people who buy the right to own and operate one or more units in the franchise system | Franchise |
| A small group of retail business planned developed, owned, and managed as a unit | shopping center |
| many new types of resellers begin as low price operations but then they evolve into higher price operations and end up like the resellers they replaced | wheel- of- retailing concept |
| All activities involved in selling goods and services to those buying for resale or business use. | Wholesaling |
| Those firms engaged primarily in wholesaling activities | Wholesalers |
| An independently owned business that takes title to the merchandise it handles | Merchant wholesalers |
| Brings buyer and sellers together and assists in negotiation | Broker |
| Represents buyers or sellers on a permanent basis | Agents |
| Wholesaling by sellers or buyers themselves rather than through independent wholesellers | Manufacturer's sales branches and offices |
| a distribution channel structure in which producers, wholesellers, and retailers act as a unified system. One channel member owns the others, has contracts with them, or has so much power that they all cooperate. | Vertical Marketing System |
| A vertical marketing system that combine successive stages of production and distribution under single ownership- channel leadership is established through common ownership | Corporate VMS |
| independent firms at different levels of production and distribution join together through contracts to obtain more economies or sale impact then they could achieve alone | Contractual VMS |
| A contractual vertical marketing system in which a channel member, called a franchiser, links several stages in the production- distribution process | Franchise Organization |
| coordinates successive stages of production and distribution, not through common ownership or contractual ties , but through the size and power of one of the parties. | Administered VMS |
| a channel arrangement in which two or more companies at one level join together to follow a new marketing opportunity | Horizontal marketing system |
| a distribution system in which a single firm sets up two or more marketing channels to reach one or more customer segments. | Multichannel distribution channel |
| the cutting out of marketing channel intermediaries by product or service producers, or the displacement of traditional resellers by radical new types of intermediaries | Disintermediation |
| designing effective marketing channels by analyzing customer needs, setting channel objectives, identifying major channel alternatives, and evaluating them. | Marketing channel design |
| stocking the product in as many outlets as possible | Intensive distribution |
| Giving a limited number of dealers the exclusive right to distribute the company's products in their territories | Exclusive distribution |
| the use of more than one, but fewer than all, of the intermediaries who are willing to carry the companies products. | Selective distribution |
| selecting, managing, and motivating individual channel members and evaluating their performance over time | Marketing channel management |
| planning implementing and controlling the physical flow of materials, final goods, and related information from points of origin to points of consumption to meet customer requirements at a profit | Marketing logistics |
| managing upstream and downstream value-added flows of materials, final goods, and related information among suppliers, the company, resellers, and final consumers. | supply chain management |
| A large highly automated warehouse designed to receive goods from various plants and suppliers, take orders, fill them efficiently, and deliver goods to customers as quickly as possible | distribution center |
| combining two or more modes of transportation | intermodal transportation |
| the logistics concept that emphasizes teamwork, both inside the company and among all the marketing channel organizations, to maximize the performance of the entire distribution center | integrated logistics management |
| an independent logistics provider that performs any or all of the functions required to get its clients products to market | third- part logistics provider |
Created by:
trgresham
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