MKT 309 Chapter 15
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| Marketing Channel | individuals and firms involved in process of making a product available for use or consumption by consumers
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| Agent or broke | Intermediary with legal authority to act on behalf of the manufacturer
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| Wholsealer | Intemediary who sells to other intemediaries, usually to retailers
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| Retailer | Intermediary who sells to consumers
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| Distributor | Intermediaries who perform a variety of distribution functions, including selling, maintaining inventories, extending credit, etc
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| Dealer | Imprecise term that could be any intermediary
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| Transactional Function | buying, selling and risk taking because they stock merchandise in anticipation of sales
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| Logistical Function | gathering, storing, and dispersing of products
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| Direct Channel (O-Level Channel) | Manufacturer and ultimate consumers deal directly with each other
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| Indirect Channel (1/2-Level Channel) | Intermediaries are inserted between producer and consumers and perform numerous channel functions
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| Industrial Distributor | Performs a variety of marketing channel functions, including selling, stocking, delivering a full product and financing-Like wholesales in consumer channels
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| Electronic Marketing Channels | Employ the internet to make goods and services available for consumption or use by consumers or business buyers
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| Direct Marketing Channels | allow consumers to buy products by interacting with various advertising media without a face to face meeting with a salesperson
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| Multichannel Marketing | blending of different communication and delivery channels that are mutually reinforcing
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| Mutually Reinforcing | attracting, retaining, and building relationships with consumer who shop and buy in traditional intermediaries and online
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| Dual Distribution | arrangement firm reaches differnt buyers by employing two or more differnt types of channels for the same basic product
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| Strategic Channel Alliances | one firm's marketing channel is used to sell another firm's products
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| Merchant Wholesales | independently owned firms that take title to the merchandise they handle
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| General (Full Line) Merchandise wholesalers | carry broad assortment of merchandise and perform all channel functions
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| Specialty Merchandise (Limited Line) wholesalers | offer narrow range of products but have extensive assortment within the product lines carried
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| Cash and Carry Wholesalers | take title to merchandise but sell only to buyers who call them, pay cash, and furnish own transportation
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| Drop Shippers (Desk Jobbers)wholesalers | wholesalers that own merchandise they sell but do not physically handle, stock, or deliver it
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| Manufacturer's Agents (MANA) | work for several producers and carry non competitive, complementary merchandise in exclusive territory
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| Selling Agnets | represent single producer and reponsible for entire marketing function of that producer
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| Brokers | independent firms or individuals whose principal function is to bring buyers and sellers together to make sales
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| Manufacterer's branch office | carries a producer's inventory and performs the functions of full service wholesaler
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| Manufacturer's sales office | does not carry inventory, typically performs only sales functions
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| Vertical Marketing Systems (VMS) | Profit Consolidation Professonally managed and centrally coordinated marketing channels designed to achieve channel economies and maximum marketing impact
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| Corporate Vertical Marketing System | combination of successive stages of production and distribution under a single ownership
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| Forward integration | producer owns the intemediaries at next level of channel
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| Backward integration | Retailer owns manufacturing operation
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| Contractual Vertical Marketing System | independent production and distribution firms integrate their efforts on a contractual basis to obtain greater functional economies than if they were alone
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| Wholesaler Sponsered voluntary Chains | wholesaler develops contract with small independent retailers to standardize business
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| Retailer Sponsored cooperatives | exist when small, independent retailers form an organization that operates a wholesale facility cooperatively
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| Franchizing | contractual arrangement between parent company and a firm that allows the firm to operate certain type of business under parent company
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| Man Sponsored Retail Franchise system | manufacturer dictates selling practices of finished product for retailer
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| Man Sponsored Whoelsale Systems | parent company dictates selling practices of parts of product for retailer
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| Service Sponsored Retail Franchise systems | firms have desigend unique approach to performance and wish to profit by selling th efrancise to others
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| Service Sponsored Franchise Systems | franchisors license individuals or firms to dispense a service under a trade name and specific guidelines
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| Administered Vertical Marketing Systems | achieve coordination at successive stages of production and distribution by size and influence of one channel rather than through ownership
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| Channel Partnership | consists of agreements and procedures among channel members for ordering and physically distributing a producer's products through the channel to consumer
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| Intensive Distribution (Convenience Goods) | firm tries to place its products and services in as many outlets as possible
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| Exclusive Distribution (Specialty Goods) | firms are particular in where their products are placed
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| Selective Distributions (Shopping Goods) | frim selects a few retail outlets in specific demographic they wish to target
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| Keiretsu | bond producers and intermediaries together
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| Channel Conflict | arises when one channel member believes another channel member is engaged in behavior that prevents it form achieving its goals
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| Vertical conflict | between different levels in marketing channel
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| Disintermediation | channel member bypasses another member and sells/buy products direct
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| Horizontal Conflict | occurs between intermediaries at the same level of channel
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| Channel Captain | channel member that coordinates directs and supports other channel members
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| Dual Distribution | manufacturer distributes through its own verticlaly integrated channel in competition with independent wholesalers and retailers that also sell its products
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| Exclusive dealing | when supplier requires channel members to sell only its products
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| Tying arrangements | supplier requires a distributor purchasing some products to buy others form the supplier
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| 1-Level Channel | Manufacturer to Wholesaler/Retailer Hybrid to Consumer
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| 2-Level Channel | Manufacturer to Wholesaler or Broker/Agent to Retailer to Customer
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| Truck Jobber | Limited Service Merchant Wholesaler that sells right off of Truck-Gives buyer method of Delivery
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| Rack Jobber | Wholesaler owns rack and charges on only what is sold off of rack
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| Horizontal Marketing System (HMS) | Buyout competitors to consolidate marketshare
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| Electronic Data Interface (EDI) | Computers ordering from other computers automated merchandise
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| Buying Co-Ops | Company's Cooperate to purchase materials at bulk to decrease per unit cost
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| EOQ | Economic Ordering Quotient
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| JIT | Just in time
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| VMI | Vendor Managed Inventory. Purchase 1000 units but only accept shipments in 100 unit increments.
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