MKTG Chp 13 Word Scramble

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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