Final Exam
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| arises when one channel member believes another channel member is engaged in behavior that prevents it from achieving its goals | channel conflict
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| ability of logistics management to satisfy users in terms of time, dependability communication, and convenience | customer service
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| a channel conflict that arises when a channel member bypasses another member and sells or buys products direct | disintermediation
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| an arrangement whereby a firm reaches different buyers by using two or more different types of channels for the same basic product | duel distribution
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| a level of distribution density whereby only one retail outlet in a specific geographical area carries the firm's products | exclusive distribution
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| a level of distribution density whereby a firm tries to place its products and services in as many outlets as possible | intensive distribution
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| those activities that focus on getting the right amt of the right products to the right place at the right time at the lowest possible cost | logistics
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| individuals and firms involved in the process of making a product or service available for use or consumption by consumers or industrial users | marketing channel
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| combinations of the marketing mix that reflect the unique attitudes, ancestry, communication preferences, and lifestyles of different races | multichannel marketing
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| a level of distribution density whereby a firm selects a few retail outlets in a specific geographical area to carry its products | selective distribution
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| various firms involved in performing the activities required to create and deliver a product or service to consumers or industrial users | supply chain
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| expenses associated with transportation, materials handling and warehousing, inventory, stock outs, order processing, and return products handling | total logistics cost
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| an inventory management system whereby the supplier determines the product amt and assortment a customer needs and automatically delivers the appropriate items | vendor-managed inventory
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| professionally manages and centrally coordinated marketing channels designed to achieve channel economies and max marketing impact | vertical marketing systems
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| Calloway golf | -annual sales over $1 billion
-mkts products through more than 15,000 gold retailers
-own online store
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| What are the 3 basic functions of intermediaries | 1. transactional- buy and sell goods or services
2. logistical- involve the details of preparing and getting a product to buyers
3. facilitating- definition, make a transaction easier for buyers
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| How consumers benefit from intermediaries | 1. time utility- refers to having a product or service when you want
2. place utility- have product available where wanted
3. form utility- enhance product make it more appealing to buyers
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| producer and ultimate consumers deal directly with each other | direct channel
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| intermediaries are inserted between the producer and consumers and perform numerous channel functions | indirect channels
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| tend to be shorter and rely on one intermediary or none at all because users are fewer in number and tend to be more concentrated geographically and by large quantities | mkting channels for business products/services
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| employ the internet to make products and services available for consumption or use by consumers or business buyers | electronic mkting channels
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| a producer might own the intermediary at the next level down | fwd integration
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| a retailer might own a manufacturing operation | backward integration
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| independent production and distribution firms integrate their efforts to obtain greater functional economies and mkting impact than they could achieve alone | contractual vertical systems
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| achieve coordination at successive stages of production and distribution by the size and influence of one channel member rathe rather through ownership | administered vertical marketing
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| identity the 4 buyer requirements | 1. info
2. convenience
3. variety
4. pre or post sale
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| conflict that occurs when one channel member believes another channel member is engaged in behavior that prevents it from achieving its goals | vertical conflict
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| conflict that occurs btw intermediaries at the same level in marketing channel, such as btw two or more retailers or two or more wholesalers that handle the same manufacturer's brands | horizontal conflict
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| identify the 4 customer service concepts | 1. time
2. dependability
3. communication
4. convenience
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