Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
48 Cards in this Set
- Front
- Back
agents and brokers
|
wholesaling intermediaries who do not take title to a product but facilitate its sale from producer to end user by representing retailers, wholesalers, or manufacturers
|
|
arm’s-length relationship
|
a relationship between companies that is loose, characterized by low relational investment and trust, and usually taking the form of a series of discrete transactions with no or low expectation of future interaction or service
|
|
atmosphere
|
the overall impression conveyed by a store’s physical layout, décor, and surroundings
|
|
automatic vending
|
the use of machines to offer goods for sale
|
|
chain store
|
a store that is part of a group of the same stores owned and operated by a single organization
|
|
channel captain
|
a member of a marketing channel that exercises authority and power over the activities of other channel members
|
|
channel conflict
|
a clash of goals and methods between distribution channel members
|
|
channel control
|
a situation that occurs when one marketing channel member intentionally affects another member’s behavior
|
|
channel members
|
all parties in the marketing channel who negotiate with one another, buy and sell products, and facilitate the change of ownership between buyer and seller in the course of moving the product from the manufacturer into the hands of the final consumer
|
|
channel partnering
|
the joint effort of all channel members to create a channel that serves customers and creates a competitive advantage
|
|
channel power
|
the capacity of a particular marketing channel member to control or influence the behavior of other channel members
|
|
cooperative relationship
|
a relationship between companies that takes the form of informal partnership with moderate levels of trust and information sharing as needed to further each company’s goals
|
|
data mining
|
the process of discovering patterns in large data sets for the purposes of extracting knowledge and understanding human behavior
|
|
destination store
|
a store that consumers purposely plan to visit
|
|
direct channel
|
a distribution channel in which producers sell directly to consumers
|
|
direct marketing (direct response marketing)
|
techniques used to get consumers to make a purchase from their home, office, or other nonretail setting
|
|
direct retailing
|
the selling of products by representatives who work door-to-door, office-to-office, or at home sales parties
|
|
dual distribution (multiple distribution)
|
the use of two or more channels to distribute the same product to target markets
|
|
exchange utility
|
the increased value of a product that is created as its ownership is transferred
|
|
exclusive distribution
|
a form of distribution that establishes one or a few dealers within a given area
|
|
factory outlet
|
an off-price retailer that is owned and operated by a manufacturer
|
|
form utility
|
the elements of the composition and appearance of a product that make it desirable
|
|
franchise
|
a relationship in which the business rights to operate and sell a product are granted by the franchisor to the franchisee
|
|
franchisee
|
an individual or business that is granted the right to sell another party’s product
|
|
franchisor
|
the originator of a trade name, product, methods of operation, and the like that grants operating rights to another party to sell its product
|
|
gross margin
|
the amount of money the retailer makes as a percentage of sales after the cost of goods sold is subtracted
|
|
horizontal conflict
|
a channel conflict that occurs among channel members on the same level
|
|
independent retailer
|
a retailer owned by a single person or partnership and not operated as part of a larger retail institution
|
|
integrated relationship
|
a relationship between companies that is tightly connected, with linked processes across and between firm boundaries and high levels of trust and interfirm commitment
|
|
intensive distribution
|
a form of distribution aimed at having a product available in every outlet where target customers might want to buy it
|
|
layout
|
the internal design and configuration of a store’s fixtures and products
|
|
m-commerce
|
the ability to conduct commerce using a mobile device for the purpose of buying or selling goods or services
|
|
marketing channel (channel of distribution)
|
a set of interdependent organizations that eases the transfer of ownership as products move from producer to business user or consumer
|
|
merchant wholesaler
|
an institution that buys goods from manufacturers and resells them to businesses, government agencies, and other wholesalers or retailers and that receives and takes title to goods, stores them in its own warehouses, and later ships them
|
|
nonstore retailing
|
shopping without visiting a store
|
|
nontraditional channels
|
nonphysical (often electronic) channels that facilitate the unique market access of products and services
|
|
online retailing (e-tailing)
|
a type of shopping available to consumers with personal computers and access to the Internet
|
|
place utility
|
the usefulness of a good or service as a function of the location at which it is made available
|
|
retailer
|
a channel intermediary that sells mainly to consumers
|
|
retailing
|
all the activities directly related to the sale of goods and services to the ultimate consumer for personal, nonbusiness use
|
|
retailing mix
|
a combination of the six Ps—product, place, promotion, price, presentation, and personnel—to sell goods and services to the ultimate consumer
|
|
scrambled merchandising
|
the tendency to offer a wide variety of nontraditional goods and services under one roof
|
|
selective distribution
|
a form of distribution achieved by screening dealers to eliminate all but a few in any single area
|
|
shop-at-home television network
|
a specialized form of direct-response marketing where shows display merchandise for viewers to purchase over the telephone with a credit card
|
|
strategic channel alliance
|
a cooperative agreement between business firms to use the other’s already established distribution channel
|
|
telemarketing
|
the use of the telephone to sell directly to consumers
|
|
time utility
|
the increase in customer satisfaction gained by making a good or service available at the appropriate time
|
|
vertical conflict
|
a channel conflict that occurs between different levels in a marketing channel, most typically between the manufacturer and wholesaler or between the manufacturer and retailer
|