Chapter 11

Front 1

channels, 348

Back 1

People and firms who connect producers of goods and services with customers.

Front 2

manufacturer, 348

Back 2

The entity which produces a product or service to be sold.

Front 3

manufactures’ suggested retail price, 348

Back 3

A target price set by a manufacturer for a product or service intended to provide profit each intermediary in the distribution channel.

Front 4

direct sales, 348

Back 4

Methods of going directly to your customer in order to sell your product. Vending machines, doorto-door salespeople, leasing space at a craft fair, farmers’ markets, party sales, and most industrial sales are methods of direct selling.

Front 5

direct marketing, 348

Back 5

Selling your good and services to consumers without intermediaries, typically to select customer groups and typically with tracking of results.

Front 6

direct mail, 350

Back 6

A method of selling in which catalogs, brochures, letters, videos, and other pieces of marketing materials are mailed directly to customers from which they can mail, call, or e-mail an order. Direct faxing and direct e-mailing are more modern forms of direct mail.

Front 7

mail order, 350

Back 7

Sales made frome ads in the newspaper or magazines, with purchase made online or by phone as well as by mail.

Front 8

microinventory, 352

Back 8

A set of goods or service that consist of only one or few items.

Front 9

just-in-time inventory, 352

Back 9

Having just enough product on shelves to meet the immediate purchases. This ussually requires frequent shipment form supplier.

Front 10

telemarketing, 353

Back 10

Contact via telephone from the express purpose of selling a product or service. Telemarketing can either be inbound (customer calls company) or outbound (company calls customer).

Front 11

direct response advertising, 354

Back 11

Placing an advertisement in a magazine or newspaper, on television or radio, or in any other media. The ad contains an order blank with a phone number and e-mail or regular mail address with the intent of having the customer place an immediate order.

Front 12

guerilla marketing, 355

Back 12

The use of creative and relatively inexpensive ways to reach your customer. Examples include door-knob hangers, flyers under windshield wipers, T-shirts, balloons, and messages written on sidewalks.

Front 13

multichannel marketing, 356

Back 13

The use of several different channels to reach your customers, for example, a website, direct mail, and traditional retailing.

Front 14

fulfillment center, 357

Back 14

A company that will warehouse your products and fill your customers’ orders for you.

Front 15

retailer, 357

Back 15

A middleman business which sells to consumers or end-users of a product (typically in single or small quantities).

Front 16

wholesaler, 357

Back 16

A middleman business which buys (typically in large quantities) and sells (typically in smaller quantities) to businesses rather than consumers.

Front 17

agent, 357

Back 17

A middleman business which represents a manufacturer’s product or service to other business-tobusiness middleman firms.

Front 18

e-tailer, 358

Back 18

An electronic retailer; a store that exists only on the Internet.

Front 19

born international, 359

Back 19

A new firm that opens a website immediately, thus being exposed to customers from around the world.

Front 20

direct exporting, 360

Back 20

Exporting using no intermediaries.

Front 21

indirect exporting, 360

Back 21

Exporting using intermediaries such as agents, export management companies, or export trading companies.

Front 22

freight forwarders, 360

Back 22

Firms specializing in arranging international shipments— packaging, transportation, and paperwork.

Front 23

letter of credit, 362

Back 23

A document issued by a bank that guarantees a buyer’s payment for a specified period of time upon compliance with specified terms.

Front 24

documentary draft, 362

Back 24

A draft which can be exercised only when presented with specified shipping documents.

Front 25

contract manufacturing, 366

Back 25

An existing firm with the correct manufacturing capabilities makes your product for you.

Front 26

sheltered workshop, 366

Back 26

A nonprofit organization or institution that provides business services by using handicapped or rehabilitated workers.

Front 27

traffic generators, 368

Back 27

Other businesses that bring customers (generate traffic) to the area.