Mgt- Chapter 17

Front 1

bargain retailers

Back 1

Retail outlets that emphasize low prices as a means of attracting consumers.

Front 2

break-even analysis

Back 2

An assessment of how many units must be sold at a given price before the company begins to make a profit.

Front 3

break-even point

Back 3

The number of units that must be sold at a given price before the company covers all of its variable and fixed costs.

Front 4

cash discount

Back 4

A form of discount in which customers paying cash, rather than buying on credit, pay lower prices

Front 5

catalogue showroom:

Back 5

A bargain retail store in which customers place orders for items described in a catalogue and pick up those items from an on-premises warehouse.

Front 6

category killers

Back 6

Retailers who carry a deep selection of goods in a narrow product line.

Front 7

channel captain

Back 7

The channel member that is the most powerful in determining the roles and rewards of organizations involved in a given channel of distribution.

Front 8

channel conflict

Back 8

Conflict arising when the members of a distribution channel disagree over the roles they should play or the rewards they should receive.

Front 9

common carriers

Back 9

Transportation companies that transport goods for any firm or individual wishing to make a shipment

Front 10

containerization

Back 10

The use of standardized heavy-duty containers in which many items are sealed at the point of shipment and opened only at the final destination.

Front 11

contract carriers:

Back 11

Independent transporters who contract to serve as transporters for industrial customers only.

Front 12

convenience stores

Back 12

Retail stores that offer high accessibility, extended hours, and fast service on selected items.

Front 13

cybermalls

Back 13

Collections of virtual storefronts representing diverse products.

Front 14

department stores

Back 14

Large retail stores that offer a wide variety of high-quality items divided into specialized departments.

Front 15

direct channel:

Back 15

distribution channel in which the product travels from the producer to the consumer without passing through any intermediary.

Front 16

direct selling

Back 16

Form of non-store retailing typified by door-to-door sales.

Front 17

direct-response retailing

Back 17

A type of retailing in which firms make direct contact with customers both to inform them about products and to receive sales orders.

Front 18

discount houses

Back 18

Bargain retail stores that offer major items such as televisions and large appliances at discount prices.

Front 19

discount:

Back 19

Any price reduction offered by the seller to persuade customers to purchase a product

Front 20

distribution centre

Back 20

A warehouse used to provide storage of goods for only short periods before they are shipped to retail stores.

Front 21

distribution channel

Back 21

The path a product follows from the producer to the end-user.

Front 22

distribution mix

Back 22

The combination of distribution channels a firm selects to get a product to end-users.

Front 23

drop shipper

Back 23

A type of wholesaler that does not carry inventory or handle the product.

Front 24

e-intermediaries

Back 24

Internet-based distribution-channel members that collect information about sellers and present it in convenient form to consumers and/or help deliver internet products to consumers.

Front 25

ecatalogues:

Back 25

Non-store retailing that uses the internet to display products and services for both retail shoppers and business customers.

Front 26

electronic retailing

Back 26

Non-store retailing in which information about the seller's products and services is connected to consumers' computers, allowing consumers to receive the information and purchase the products in the home.

Front 27

electronic storefront

Back 27

A seller's website in which consumers collect information about products and buying opportunities, place sales orders, and pay for their purchases.

Front 28

exclusive distribution:

Back 28

A distribution strategy in which a product's distribution is limited to only one wholesaler or retailer in a given geographic area.

Front 29

factory outlets

Back 29

Bargain retail stores that are owned by the manufacturers whose products they sell.

Front 30

fixed costs

Back 30

Those costs unaffected by the number of goods or services produced or sold.

Front 31

full-service merchant wholesaler

Back 31

A merchant wholesaler that provides storage and delivery in addition to wholesaling services.

Front 32

hub

Back 32

Central distribution outlet that controls all or most of a firm's distribution activities

Front 33

industrial (business) distribution

Back 33

The network of channel members involved in the flow of manufactured goods to industrial customers.

Front 34

intensive distribution

Back 34

distribution strategy in which a product is distributed in nearly every possible outlet, using many channels and channel members.

Front 35

interactive marketing

Back 35

Selling products and services by allowing customers to interact with multimedia websites using voice, graphics, animation, film clips, and access to live human advice.

Front 36

intermediary

Back 36

Any individual or firm other than the producer who participates in a product's distribution.

Front 37

intermodal transportation

Back 37

The combined use of different modes of transportation.

Front 38

inventory control

Back 38

The part of warehouse operations that keeps track of what is on hand and ensures adequate supplies of products in stock at all times.

Front 39

limited-function merchant wholesaler

Back 39

An independent wholesaler that provides only wholesaling–not warehousing or transportation–services.

Front 40

mail order (catalogue marketing):

Back 40

form of non-store retailing in which customers place orders for merchandise shown in catalogues and receive their orders via mail.

Front 41

market share

Back 41

A company's percentage of the total market sales for a specific product.

Front 42

materials handling

Back 42

The transportation and arrangement of goods within a warehouse and orderly retrieval of goods from inventory.

Front 43

merchant wholesaler

Back 43

An independent wholesaler that buys and takes legal possession of goods before selling them to customers.

Front 44

multilevel marketing

Back 44

A system in which a salesperson earns a commission on their own sales and on the sales of any other salespeople they recruit.

Front 45

odd-even psychological pricing

Back 45

A form of psychological pricing in which prices are not stated in even dollar amounts.

Front 46

order fulfillment

Back 46

All activities involved in completing a sales transaction, beginning with making the sale and ending with on-time delivery to the customer.

Front 47

penetration-pricing strategy

Back 47

The decision to price a new product very low to sell the most units possible and to build customer loyalty.

Front 48

physical distribution

Back 48

Those activities needed to move a product from the manufacturer to the end consumer.

Front 49

price leadership

Back 49

The dominant firm in the industry establishes product prices and other companies follow suit.

Front 50

price lining

Back 50

The practice of offering all items in certain categories at a limited number of predetermined price points.

Front 51

price-skimming strategy

Back 51

The decision to price a new product as high as possible to earn the maximum profit on each unit sold.

Front 52

pricing objectives

Back 52

Goals that producers hope to attain in pricing products for sale.

Front 53

pricing:

Back 53

Deciding what the company will receive in exchange for its product.

Front 54

private carriers

Back 54

Transportation systems owned by the shipper

Front 55

private warehouse

Back 55

A warehouse owned and used by just one company.

Front 56

psychological pricing

Back 56

The practice of setting prices to take advantage of the nonlogical reactions of consumers to certain types of prices.

Front 57

public warehouse

Back 57

An independently owned and operated warehouse that stores the goods of many firms.

Front 58

quantity discount

Back 58

A form of discount in which customers buying large amounts of a product pay lower prices.

Front 59

rack jobber

Back 59

A full-function merchant wholesaler specializing in non-food merchandise that sets up and maintains display racks of some products in retail stores.

Front 60

retailers

Back 60

Intermediaries who sell products to end-users.

Front 61

sales agent (or broker):

Back 61

An independent business person who represents a business and receives a commission in return, but never takes legal possession of the product.

Front 62

sales offices

Back 62

Offices maintained by sellers of industrial goods to provide points of contact with their customers.

Front 63

seasonal discount

Back 63

: A form of discount in which lower prices are offered to customers making a purchase at a time of year when sales are traditionally slow.

Front 64

selective distribution

Back 64

A distribution strategy that falls between intensive and exclusive distribution, calling for the use of a limited number of outlets for a product.

Front 65

shopping agent (e-agent):

Back 65

A type of intermediary that helps internet consumers by gathering and sorting information they need to make purchases.

Front 66

specialty stores:

Back 66

Small retail stores that carry one line of related products.

Front 67

storage warehouse

Back 67

A warehouse used to provide storage of goods for extended periods of time.

Front 68

supermarkets:

Back 68

Large retail stores that offer a variety of food and food-related items divided into specialized departments.

Front 69

syndicated selling

Back 69

Occurs when a website offers other websites a commission for referring customers.

Front 70

telemarketing:

Back 70

Use of the telephone to sell directly to consumers.

Front 71

trade discount

Back 71

A discount given to firms involved in a product's distribution.

Front 72

variable costs

Back 72

Those costs that change with the number of goods or services produced or sold.

Front 73

vertical marketing system (VMS):

Back 73

A system in which there is a high degree of coordination among all the units in the distribution channel so that a product moves efficiently from manufacturer to consumer.

Front 74

video marketing

Back 74

Selling to consumers by showing products on television that consumers can buy by telephone or mail.

Front 75

warehouse club (wholesale club)

Back 75

Huge, membership-only, combined retail-wholesale operations that sell brand-name merchandise.

Front 76

warehouse club (wholesale club)

Back 76

Huge, membership-only, combined retail-wholesale operations that sell brand-name merchandise.

Front 77

warehousing:

Back 77

That part of the distribution process concerned with storing goods.

Front 78

wholesalers:

Back 78

Intermediaries who sell products to other businesses, which in turn resell them to the end-users.