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CHP 15 Marketing

TermDefinition
Marketing Channel consists of individuals and firms involved in the process of making a product or service available for use or consumption by consumers or industrial users.​
Intermediary Middleman between manufacturer and end-user markets
Intermediary Agent/Broker legal authority to act on behalf of the manufacturer
Intermediary Wholesaler sells to other intermediaries, usually retailers, term usually applies to consumer markets
Intermediary Retailer sells to consumers
Intermediary Distributor imprecise terms used to describe those who perform a variety of distribution functions such as selling, maintaining inventories, extending credit, and more.
Intermediary Dealer more imprecise than distributor, can mean the same as distributor, retailers, and wholesaler
Transactional Function buying (purchasing products for resale as an agent for supply of a product), selling (contacting potential customer, promoting products, seeking orders), and risk taking ( assuming business risk in the ownership of inventory)
Logistical Function Assorting (creating product assortments), storing (assembling and protecting products at a convenient location), sorting (purchasing in large quantities and breaking into smaller ones), transporting (moving product to customers)
Facilitating Function financing (extending credit to customers), grading (inspecting, testing, and judging products to assign quality grades), marketing info & research (provides info to both customers and suppliers, comparing competitive conditions and trends).
Marketing Channel for Consumer Goods, Direct Producer to consumer
Marketing Channel for Consumer Goods, Indirect Producer to retailers to consumers Producer to wholesalers to retailers to consumers Producer to agent to wholesalers to retailers to consumers
Marketing Channels for Business Goods, Direct Producer to Industrial User
Marketing Channels for Business Goods, Indirect Producer to industrial distributor to industrial user Producer to agents to industrial user Producer to agents to industrial distributors to industrial user
Digital Marketing Channels Make products and services available to buyers, combine electronic and traditional intermediaries. Includes things like car rental, financial securities, and insurance
Multichannel Marketing blending of different communication and delivery channels that are mutually reinforcing in attracting, retaining, and building relationships with consumers who shop and buy in traditional intermediaries and online.
Dual Distribution reach different buyers by different channels
Vertical Marketing Sytems professionally managed and centrally coordinated marketing channels designed to achieve channel economies and maximum marketing impact.​
Intensive distribution whereby a firm tries to place its products and services in as many outlets as possible.​
Exclusive Distribution only one retailer in a specific geographical area carries the firm’s products.​
Selective Distribution firm selects a few retailers in a specific geographical area to carry its products.​
Buying Requirements Information Convenience Variety Pre- or post sale service
Channel Conflicts arises when one channel member believes another channel member is engaged in behavior that prevents it from achieving its goals.​
Distribution involves channel conflict that arises when a channel member bypasses another member and sells or buys products direct.​
Logistics consists of those activities that focus on getting the right amount of the right products to the right place at the right time at the lowest possible cost.​
Supply chain various firms involved in performing the activities required to create and deliver a product or service to ultimate consumers or industrial users.​
Created by: user-2020714
 

 



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