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important functions performed by intermediaries
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MKTG Chp 13
managing marketing channels and supply chains
| Question | Answer |
|---|---|
| marketing channel | individuals and firms invollved in the process of making a product or service available for use. |
| important functions performed by intermediaries | 1. transactional 2. logistical 3. facilitating |
| tansactional benefits | buying, selling, risk taking |
| logistical beneifts | sorting, storing, transporting |
| facilitating benefits | financing, grading, market research |
| direct channel | producer and the ultimate consumer deal directly with each other. |
| indirect channel | intermediaries are inserted between producers and consumers to perform numerous channel funtions. |
| Multichannel marketing | the blending of different communications and delivery channels that are mutually reinforcing in attracting , retaining and buliding consumer relationship |
| Dual distribution | an arrangement whereby a firm reaches different buyers by using two or more different types of channesl for the same basic product. |
| strategic channel alliances | one firms marketing channel is used to sell another firm's products. |
| vertical marketing system | professionally managed and centrally coordianted marketing channels designed to acieve channel economies and maximum marketing impact. |
| ..Corporate systems | producer might own intermediary at the next level down in the channel. |
| forward integration | when the producer owns the the intermediary at the next level down in the channel. |
| backward integration | retailer that owns a manufacturing operation. (kroger) |
| contractual vertical marketing system | independent production and distribution firms inegrate their efforts on a contractual basis to obtain greater funtional economies. |
| 3 most popular types of contractual systems | 1. wholesaler-sponsored 2. retailer sponsored 3. franchising(most popular) |
| wholesaler sponsored | involves a wholesaler that develops a contractual relationship with small retailers to standardize and coordinate buying practices, and inventory management efforts. |
| retailer sponsored | exist when small, independent retailers form an orgainzation that operates a wholesale facility cooperatively. |
| Franchising | contractual arrangement between a parent company and an individual that allows the franchisee to operate a certain type of business. |
| why are channels for business products typicall shorter than channels for consumer products | business users are fewer in number, tend to be more concentrated geographically, and buy in larger quantities. |
| what is the principle distinction between corporate vertical marketing and administered vertial marketing? | administrative vertical marketing achieves coordination by the size and influence of one channel member rather than through ownership. |
| what are the factors affecting channel choice management? | 1. which channel provides the best coverage of target market? 2. will best satisfy the buying requirements of target market. 3. which wil be most profitable |
| target market coverage | number of stores in a geographical area. |
| intensive distribution | a firm tries to place its products in as many outlets as possible. |
| exclusive distribution | only one retail outlet in a specific geographical region carries the firms products. |
| selective distribution | a firm selects a few retail outlets in a specific geographical area to carry its products. |
| What are the 4 main buyer interest that should be satisfied | 1. information 2. convenience 3. variety 4. pre or post sale services. |
| channel conflict | when one channel member believes another channel member is engaged in behavior that prevents it from achieving its goals. |
| disintermediation | arises when a channel member bypasses another member and sells or buys products direct. |
| what are the three degrees of distribution density? | 1. intensive 2. exclusive 3. selective |
| logistics | activities that focus on geting the right amoint of the right products to the right place at the right time at the lowest possible cost |
| what are the three elements of logistics? | 1. there needs to be flow of the product. 2. must be cost effective 3. must deliver good customer service |
| supply chain | the various firms involved in performing the activities required to create and deliver a product or service to consumers. |
| how do you align supply chain with marketing strategy? | 1. understand the customer 2. understand the supply chain 3. harmonize the supply chain with the marketing strategy |
| what three lessons about supply chains can be learned? | 1. there is no one best supply chain 2. the best supply chain is the one that is consistent with theneeds of the customer segment. 3. sometimes must make trade-offs between efficientcy and responsiveness on elements |
| what are the two main concepts of logistics management in a supply chain | total logistics cost 2. customer service concept |
| total logistics cost | expenses associated with transportation, materials handling and warehousing, inventory, stockouts, order processing, and return products handling. |
| customer service concept | the ability of logistics management to satisfy users in terms of time, dependability, communication and convenience |
| vendor managed inventory | inventory management system whereby the supplier determines the product amount and assortement a customer(i.e. retailer) needs and automatically delivers the approprate items. |
| What is the principle difference between the marketing channel and supply chain? | supply chain involves those who provide raw materials to manufacturers. the marketing channel delivers the finished goods to the ultimate consumer. |
| the choice of supply chain involves three steps. | 1. understand the customer 2. understand the supply chain 3. harmonize the supply chain with the marketing strategy. |
| a supply chain managers key task is to balance which 4 customer service factors against which 5 logistical cost factors? | CS:time, dependability, communications, convenience Log: transportation, materials handling, warehousing, stockouts, and order processing |
Created by:
jsmeltz1