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50 Cards in this Set
- Front
- Back
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What is marketing channel of distribution |
Consists of individuals and firms involved in the process of making a product or a service available for use or consumption by consumers or industrial users |
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What are the marketing channel distributors |
-Producer to intermediary to buyers -Middleman -agent or broker -wholesaler -retailer |
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What is a middleman |
Any intermediary between manufacturer and end user markets |
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What is a agent or broker |
any intermediary with legal authority to act on behalf of the manufacturer |
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What is a wholesaler |
-an intermediary who sells to other intermediaries usually to retailers -term usually applies to consumer markets |
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What is a retailer |
an intermediary who sells to consumers |
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name the 4 intermediaries |
-middleman -agent or broker -wholesaler -retailer |
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What are the 3 intermediary functions |
-transactional function -logistical function -facilitating function |
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What are the functions for transitional function |
-Buying -selling -risk taking |
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What are the functions for logistical function |
-assorting -storing -sorting -transporting |
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what are the functions for facilitating function |
-financing -grading -marketing information and research |
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What is created by intermediaries |
value |
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what are the four utilities from intermediaries |
-time-when you want the product -place-where you want the product -form-enhance the product to make it appealing -possession- help buyers take possession of a product or service |
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What are the different structures of marketing channels |
-direct channel -indirect channel -electronic marketing channels -multichannel marketing -direct marketing channel -strategic channel alliances -dual distribution -conventional marketing channel -vertical marketing system |
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What is a direct channel |
a producer who performs all channel functions |
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what is a indirect channel |
Retailers –when retailer is large and buys in large quantities –WholesalersRetailers–low cost, low unit value items –AgentsWholesalersRetailers–many small manufacturers and many small retailers |
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What are electronic marketing channels |
-They employ internet to make goods and services available for consumption -Also they combine electronic and traditional intermediaries to create time, place, form and possession utility for buyers -Many services can be distributed through electronic marketing as well |
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What is direct marketing channel |
-consumers buy products by interacting with various advertising media without a face to face meeting with a sales person -examples:mail order, catalogs and direct mail |
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What is multichannel marketing |
-Blending of different communication and delivery channels -Different ways to sell to the consumer segment -examples:retail store, catalog, website |
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What is strategic channel alliances |
-one firm uses other firms marketing channel \ Example: Kraft distributes starbucks coffee in US supermarkets |
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What is dual distribution |
different ways to sell to the different segments |
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What is vertical marketing system |
the combination of successive stages of production and distributions under a single ownership |
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What are the two types of integration |
-forward -backward |
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What is forward integration |
manufacturer owns intermediary at the next level down the channel |
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What is backward integration |
retailer owns manufacturer at the next level up the channel |
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What are the 3 factors affecting channel choice |
-target market coverage -buyer requirements -profitability |
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What are the three distributions for market coverage |
-intensive distribution(convince products) -exclusive distribution(specialty products) -selective distribution(middle option) |
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What are the buyer requirements |
-information needs -convenience -variety -pre and post purchase services |
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What factors affect profitability |
-revenues -channel costs |
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What is logistics |
consists of those activities that focus on getting the right amount of the right products to the right place at the right time at the lowest possible cost |
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What is logistics management |
-is the practice of organizing the cost effective flow of raw materials, finished goods, and related information from point of origin to point of consumption to satisfy customer requirements |
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What is supply chain |
consists of a sequence of firms that perform activities required to create and deliver a good or service to consumers or industrial users |
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What is supply chain management |
is the integration and information and logistic activities across firms in a supply chain for the purpose of creating and delivering goods and services that provide value to consumers. |
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What are the costs of logistics |
-transportation -materials handling -warehousing, inventory, stockout, order processing, handling returned goods |
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What happens when you want to minimize transport costs |
1.ship goods in larger quantities 2.inventory increases 3.inventory costs increase 4.stockouts are reduced |
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What are the total logistic cost factors |
-inventory costs -transportation costs -materials handling and warehousing costs -order processing costs -stockout costs |
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what are the customer service factors |
-dependability -communication -convenience -time |
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What are the customer service factors |
-time-lead time -dependability-consistence of replenishment -communication- two way link between buyers and sellers -convenience-buyer should extend minimum effort |
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What is customer service |
the ability of logistics management to satisfy users in terms of time, dependability, communication, and convenience |
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What are the key logistic functions in a supply chain |
1.transportation 2.warehousing and material handling 3.order processing 4.inventory management |
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What are third party logistics providers |
firms who perform most of logistics for manufacturers, suppliers, and distributors |
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What is reverse logistics |
it is the latest trend and it is reclaiming recyclable and reusable materials |
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how many largest businesses in the U.S. are retailers |
4 of 40 -costco -home depot -target -walmart |
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What is retailing |
consists of all activities involved in selling, renting, and providing goods and services to ultimate consumers for personal, family or household use |
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What are the 4 utilities provided by retailers |
-time -place -form -possession |
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what are the different forms of ownership for classifying retailers |
-independent retailer -corporate chain-multiple outlets under common ownerships -contractual systems-independently owned stores that band together |
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What are the different levels of service for classifying retailers |
-self service -limited service -full service |
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what are the two types of merchandise lines for classifying retailers |
-depth of line-store carries a large assortment of each item -breadth of product line- variety of different items store carries |
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What are the different types of stores |
1.limited line stores-stores carry good assortment of a related line item 2.single line stores- great depth in one line of merchandise 3.general merchandise stores- broad product line with limited depth |
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What are the different types of non store retailing |
-automatic vending -direct mail and catalogs -television home shopping -online retailing -telemarketing -direct selling |
