Marketing 301 Chapter 14- Final – Flashcards
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Marketing Channel
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a set of interdependent organizations that eases the transfer of ownership as products move from producer to business user or consumer
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Retailer
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a channel intermediary that sells mainly to consumers
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Merchant Wholesaler
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an institution that buys goods from manufacturers and resells them to businesses, government agencies, and other wholesales or retailers and that receives and takes title to goods, stores them in its own warehouses and later ships them
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Logistics
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is the management of the flow of things between the point of origin and the point of consumption in order to meet requirements of customers or corportations
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Channel power
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the capacity of a particular marketing channel member to control of influence the behavior of other channel members
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channel control
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a situation that occurs when one marketing channel member intentionally affects another member's behavior
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channel leader
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a member of a marketing channel that exercises authority and power over the activities of other channel members
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channel conflict
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a clash of goals and methods between distribution channel members
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Agent/Broker
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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
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Specialization/Division of Labor
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a method of production where a business or area focuses on the production of a limited scope of products or services in order to gain greater degrees of productive efficiency within the entire system of businesses or areas
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independent retailer
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is a retailer owned by a single person or group and is not operated as part of a large network
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chain stores
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is part of a group of the same stores owned and operated by a single organization
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franchise
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is a business where the operator is granted a license to operate and sell a product under a larger supporting organization
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level of service
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range from full-service to self-service, etc. exclusive clothing stores have a high level of service where outlets have virtually none
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product assortment
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some stores are very focused to sell on type of product, others have a wide variety. (Gamestop vs. Walmart0
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price
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some stores such as department stores have full retail price where factory outlets have low prices
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Gross Margin
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how much retailer makes as a percentage of sales after the cost of goods sold is subtracted
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Retailing Mix
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a combination of the 6 p's (product, place, promotion, price, presentation, and personnel) to sell goods and services to the ultimate consumer
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Non-store retailing
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shop without visiting a store
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Direct Marketing
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techniques used to get consumers to make purchase from their home, office, or other non-retail setting
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Direct Retailing
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the selling of products by representatives who work door-to-door, or at home sales parties
