Marketing 3.07 Vocabulary Terms – Flashcards
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5.BULK-BREAKING
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The wholesaler takes delivery in large amounts and then breaks it down and delivers it in much smaller amounts.
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6.CHANNEL
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A path through which goods and services flow in one direction (from vendor to the consumer), and the payments generated by them that flow in the opposite direction (from consumer to the vendor). Means employed to distribute goods or services from producers to consumers.
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7.CHANNEL BREADTH
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The number of outlets available to consumers.
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8.CHANNEL INTENSITY
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Refers to the number of intermediaries present in the distribution or marketing channel.
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9.CHANNEL LENGTH
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The total number of channel members in a channel of distribution.
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10.CHANNEL MANAGEMENT
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Processes by which marketers ensure that products are distributed to customers efficiently and effectively. A marketing function that involves identifying, selecting, monitoring, and evaluating sales channels
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11.CHANNEL MEMBERS
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Businesses or individuals who assist in moving goods and services from the producer to the consumer.
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12.CHANNELS OF DISTRIBUTION
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Paths, or routes, that goods or services take from the producer to the ultimate consumer or industrial user.
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13.CONSUMER GOODS
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Tangible items produced for personal use.
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14.CONSUMER GOODS AND SERVICES
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Products produced for personal consumption.
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15.CONTRACTUAL EFFICIENCY
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Channel intermediaries have to optimize the number of exchange relationships required to complete a transaction.
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16.DIRECT DISTRIBUTION
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A channel of distribution in which goods and services move directly from the producer to the consumer or industrial user.
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17.DISINTERMEDIATION
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The elimination of intermediaries, or middlemen, that result in the transfer of products directly from the producer to the ultimate consumer.
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18.DISTRIBUTION
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A marketing/business function that is responsible for moving, storing, locating, and/or transferring ownership of goods and services. The process or activity by which income is divided among resource owners and producers. A career that involves performing the activities involved in moving or transferring the ownership of goods or services from producers to consumers.
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19.DISTRIBUTION CENTER
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a short-term storage centre located close to a major market to facilitate the rapid processing of orders and shipment of goods to customers; unlike a warehouse, the emphasis is on the moving of goods rather than on long-term storage
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20.DISTRIBUSTION CHANNELS
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Paths, or routes, that goods or services take from the producer to the ultimate consumer or industrial user.
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21.DISTRIBUTION INTENSITY
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The level of market exposure a certain distribution pattern achieves (refers to intensive, selective, and exclusive patterns).
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22.DISTRIBUTION PATTERNS
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form, grouping, lineup, method, ordering, organization.
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23.DISTRIBUTION PROCESS
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All the steps involved in the physical movement or the transfer of ownership of a good or service from the producer to the consumer.
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24.DISTRIBUTION SYSTEM
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The combination of distribution activities that a company uses to distribute its goods or services.
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25.DISTRIBUTOR
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A channel member who helps to sell a business's products; usually a wholesaler.
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26.DUAL DISTRIBUTION
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Distributing a product through two different channels.
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27.E-TAILERS
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Retailers who operate solely online.
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28.EXCLUSIVE DISTRIBUTION
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A distribution pattern in which a producer sells a product through just one middleman in a geographic area. Producers of some products limit the number of intermediaries handling their product to deliver maximum service quality to customers, try to develop a superior brand image for their product.
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29.HORIZONTAL CONFLICT
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A type of channel conflict that occurs between channel members at the same level (e.g., two retailers).
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30.INDIRECT CHANNEL OF DISTRIBUTION
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A channel of distribution in which goods and services move from the producer to channel members then to consumers or users.
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31.INDIRECT DISTRIBUTION
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A channel of distribution in which goods and services move from the producer to the channel members and then to consumers or industrial users.
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32.INDUSTRIAL DISTRIBUTOR
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A channel member that buys industrial goods and sells them to industrial users. Independent firms that take possession of the products they sell & have a partnership arrangement with the manufacturer.
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33.INDUSTRIAL GOODS AND SERVICES
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Products purchased by producers for resale, to make other goods and services, and/or to use in business operations.
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34.INTENSIVE DISTRIBUTION
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A distribution pattern in which a producer sells a product through every available wholesaler and retailer in a geographic area where consumers might look for it. Producers of products stock their goods in as many outlets as possible as possible by considering time & place utility.
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35.INTEGRATED DISTRIBUTION
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manufacturer acts as wholesaler and retailer for its own products.
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36.INTERMEDIARIES
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Channel members operating between the producer and the consumer or industrial user to help in the movement of goods and services.
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37.LOGISTICS
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Refers to managing the flow of goods and services from production to consumption.
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38.MANUFACTURER'S REPRESENTATIVES/AGENTS
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They sell the manufacturer's product to the wholesalers, retailers, other businesses & also to institutions such as hospitals, libraries & school. They may represent more than one manufacturer. Also called account executives or sales engineers.
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39.MANUFACTURER'S SALES FORCE
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Comprises the salespersons that are on the company's rolls & received a fixed salary. Devote their entire time & effort to selling that product or service of that manufacturer.
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40.MERCHANDISING ALLOWANCE
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A price reduction offered to intermediaries; often used to entice intermediaries to purchase a particular product or to reimburse intermediaries for their marketing costs.
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41.MIDDLEMEN
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Channel members operating between the producer and the consumer or industrial user to help in the movement of goods and services. See intermediaries.
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42.MULTIPLE DISTRIBUTION
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Distributing a product through many different channels.
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43.NEGOTIATION
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The process of one party reaching an agreement with another party to meet specific needs or wants; the process of persuading or influencing someone to take a certain course of action in order to achieve a desired outcome. A method of settling a dispute or agreeing to common terms in which one or both parties may compromise.
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44.NONSTORE RETAILING
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A business that buys consumer goods or services and sells them to the ultimate consumer by means other than through a store, e.g., phone, mail, door to door, vending machines.
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45.PHYSICAL DISTRIBUTION
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Involves the actual movement of goods after they are produced & before they are consumed. A concept or approach to managing the finished goods inventory of the firm. Typically it includes transportation, warehousing, inventory, and order processing functions of the firm. Process of designing and administering the systems to control the flow of goods. Maximizes product value by creating time & place utilities.
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46.PLACE (DISTRIBUTION)
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Marketing element focusing on considerations in getting a selected product in the right place at the right time.
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47.PRIVATE BRAND
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Brands owned by intermediaries.
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48.RACK JOBBER
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A vendor who delivers stock to a business and puts it in racks or other locations for the business.
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49.RETAILER(S)
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A business that buys consumer goods or services and sells them to the ultimate consumer.
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50.RISK TAKING
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Understanding and accepting the responsibility of not knowing the outcome of your actions.
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51.SELECTIVE DISTRIBUTION
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A distribution pattern is which a producer sells a product through a limited number of middlemen in a geographic area. It is adopted when the manufacturer lacks the resources to adequately influence the policies of all the intermediaries who can carry a particular product. The manufacturer distributes products only to specific retailers selected on the basis of defined criteria.
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52.SELLING AGENT
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Independent middlemen who perform entire marketing task for firms.
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53.SUPPLY CHAIN
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movement of materials as they flow from their source to the end customer. Supply Chain includes purchasing, manufacturing, warehousing, transportation, customer service, demand planning, supply planning and Supply Chain management. It is made up of the people, activities, information and resources involved in moving a product from it's supplier to customer.
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54.ULTIMATE CONSUMER
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Anyone who personally uses a good or service to satisfy his/her own wants.
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55.VENDOR
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A supplier of goods, usually a wholesaler or distributor.
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56.VERTICAL CONFLICT
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A type of channel conflict that occurs between channel members at different levels within the same channel.
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57.WHOLESALERS
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Intermediaries who help to move goods between producers and retailers by buying goods from producers and selling them to retailers.
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