Ch15:Marketing
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| show | individuals and firms involved in the process of making a product or service available for use or consumption by consumers or industrial users
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| show | 1. Reducing Transactions
2. Principle of Proximity
3. Principle of Massed Reserves
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| What are the functions created by intermediaries? | show 🗑
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| What is Transactional Functions? | show 🗑
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| What is Logistical Function? | show 🗑
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| show | Financing: extending credit to customers
Grading: inspecting, testing, or judging products and assigning quality grades
Marketing info & research
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| How is value created? | show 🗑
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| List the different forms of intermediaries? | show 🗑
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| What are the considerations needed to select a channel member? | show 🗑
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| What is Target Market Coverage? | show 🗑
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| show | Intensive: firm tries to place its products in as many outlets as possible, usually chosen for convenience products or services
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| show | Exclusive: extreme opposite of intensive, only one retailer in a specified geographical area carries the firm's products (for specialty products)
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| show | Selective: firm selects few retailers ina specified geographical area; gets market coverage benefits and control over reslae
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| show | Gaining access to channels/intermediaries that satify at least ofthe buyer's interests that they might want fulfilled when buying the firm's products/services
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| show | Information: important requirement when buyers have limited knowledge or desire specific data about a product/service
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| What is the 2nd category of interest in SBR? | show 🗑
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| What is the 3rd category of interest in SBR? | show 🗑
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| show | Pre- or Post-sale Services: requirement for products such as large househole appliances that require delivery, installation, and credit
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| What is Profitability? | show 🗑
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| show | When a firm reaches different buyers by employing two or more types of channels for the same basic product
EX: GE sells large appliances directly to home builders, but uses retail stores like Lowes to sell to consumers
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| show | professionally managed and centrally coordinated marketing channels designed to achieve channel economies and maximum marketing impact
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| What are the three types of VMS? | show 🗑
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| show | the combination of successive stages of production and distribution under a single ownership
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| What is Forward Integration? | show 🗑
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| What is Backward Integration? | show 🗑
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| What are Contractual Systems? | show 🗑
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| show | 1. Wholesaler-sponsored voluntary chains
2. Retail-sponsored cooperatives
3. Franchising
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| What is a wholesaler sponsored voluntary chain? | show 🗑
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| Retail-sponsored Coop? | show 🗑
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| show | a contractual arrangement between a parent company and an individual that allows the franchisee to operate a certain type of business under an established name
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| show | achieve coordination at successive stages of production and distribution by the size and influence of one channel member
Ex: Wal-Mart
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| What is Channel Conflict? | show 🗑
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| What are the two types of Channel Conflict? | show 🗑
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| How is Channel Conflict Reduced? | show 🗑
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| Who monitors channel practices? | show 🗑
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| show | Prohibits:
-Exclusive dealing
-Tying arrangments
-Refusal to seal with existing channel members
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| show | a supplier requires a channel member to only sell its products or restricts distributors from selling directly competitive products
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| What are tying arrangements? | show 🗑
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| show | Resale restrictions: suppliers attempt to stipulate to whom distributors may resell the suppliers products
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| How can Dual Distribution be viewed as illegal? | show 🗑
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| show | Under Clayton Act if the practice has the potential to lessen competition or foster monopoly
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| Broker (def) | show 🗑
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| Channel Partnership | show 🗑
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| Disintermediation | show 🗑
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| show | 1. General Merchandise Wholesalers
2. Specialty Merchandise Wholesalers
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| show | 1. Rack Jobbers
2. Cash and Carry
3. Drop Shippers
4. Truck Jobbers
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| Rack Jobbers | show 🗑
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| Cash and Carry | show 🗑
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| Drop Shippers | show 🗑
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| show | small wholesalers with small warehouses which they stock their trucks for distribution to retailers
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