Marketing Chapter 12 (Exam 3) – Flashcards
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How is customer service related to logistics management?
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A firm must drive down logistics costs as long as it can still satisfy customer requirements.
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The three major types of vertical marketing systems are administered, contractual, and __________.
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Corporate.
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A marketing channel refers to
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individuals and firms involved in the process of making a good or service available for use or consumption by consumers or industrial users.
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Total logistic cost factors in a supply chain include transportation, order processing, stockout, inventory, returns, and __________.
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warehousing and materials handling.
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A channel intermediary that acts on behalf of the seller but does not take title to products is called a(n)
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agent or broker.
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Marketing Channel
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individuals and firms involved in the process of making a product or service available for use or consumption by consumers or industrial users
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Facilitating Functions
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make a transaction easier for buyers
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Time Utility
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having a product or service when you want it
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Form Utility
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enhancing a product or service to make it more appealing to buyers
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Possession Utility
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efforts by intermediaries to help buyers take possession of a product or service, such as having airline tickets delivered by a travel agency
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Direct Channel
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Producer to Consumer
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Indirect Channel
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Producer to Intermediary to Consumer
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Direct Marketing Channels
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allow consumers to buy products by interacting with various advertising media without a face-to-face meeting with a salesperson
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Multichannel Marketing
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the blending of different communication and delivery channels that are mutually reinforcing in attracting, retaining, and building relationships with consumers who shop and buy in traditional intermediaries and online
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Dual Distribution
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an arrangement whereby a firm reaches different buyers by employing two or more different types of channels for the same basic product
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Strategic Channel Alliances
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where one firm's marketing channel is used to sell another firm's products
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Vertical Marketing Systems
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are professionally managed and centrally coordinated marketing channels designed to achieve channel economies and maximum marketing impact
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Intensive Distribution
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a firm tries to place its products and services in as many outlets as possible
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Exclusive Distribution
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the extreme opposite of intensive distribution because only one retailer in a specific geographical area carries the firm's products
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Selective Distribution
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a firm selects a few retailers in a specific geographical area to carry its products
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Channel Conflict
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when one channel member believes another channel member is engaged in behavior that prevents it from achieving its goals
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Disintermediation
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conflict arises when a channel member bypasses another member and sells or buys products direct
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Logistics
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involves 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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Supply Chain
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the various firms involved in performing the activities required to create and deliver a product or service to consumers or industrial users
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Total Logistics Cost
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expenses associated with transportation, materials handling and warehousing, inventory, stockouts (being out of inventory), order processing, and return products handling
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Customer Service
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the ability of logistics management to satisfy users in terms of time, dependability, communication, and convenience
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Vendor Managed Inventory (VMI)
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where the supplier determines the product amount and assortment a customer (such as a retailer) needs and automatically delivers the appropriate items
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Reverse Logistics
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a process of reclaiming recyclable and reusable materials, returns, and reworks from the point of consumption or use for repair, remanufacturing, redistribution, or disposal
