question

individuals and firms involved in process of making product/service available for use or consumption by consumers or industrial users

answer

marketing channel

question

value is created by _____. make possible flow of products from producers to ultimate consumers by performing 3 basic functions. transactional function, logistical function, facilitating function.

answer

intermediaries

question

buy and sell products/services.

answer

transactional function

question

gathering, sorting and dispersing products

answer

logistical function

question

make transaction easier for buyers. Ex. issuing credit cards like JCPenny.

answer

facilitating function

question

having products/services you want when you want them where and in what form you want them. uses these 4 utilities: time utility, place utility, form utility, possession utility.

answer

consumer benefits from intermediaries

question

having product/service when you want it

answer

time utility

question

having product/service where consumers want it

answer

place utility

question

enhancing product to make more appealing to buyers

answer

form utility

question

intermediaries help buyers take possession of product.

answer

possession utility

question

producer and ultimate consumer deal directly with each other Ex. insurance company. producer performs all channel functions.

answer

direct channel (customer)

question

intermediaries inserted between producer and consumers and perform numerous channel functions.

answer

indirect channels (customer)

question

most common when retailers is large and can buy in large quantities from producer or when cost of inventory makes it too expensive to use wholesaler. Ex. automobile manuf.

answer

retailer added

question

most common for low cost, low unit value items frequently purchased. (candy)

answer

Adding wholesaler

question

many small manufacturers and many small retailers

answer

most indirect channel

question

maintain own salesforce and perform all channel functions. employed when buyers are large and well defined. requires extensive negotiations. requires hands on expertise. Ex. IBM

answer

direct channel (business)

question

1+ intermediaries between producer and industrial user.

answer

Indirect channel (business)

question

marketing channel functions - selling, stocking, delivering full product assortment, and financing.

answer

industrial distributor

question

agent - serves primarily as independent selling arm of producers and represents producer to industrial users.

answer

second intermediary

question

includes both agents and industrial distributors.

answer

longest channel

question

employ internet to make products/services available for consumption or use by consumers or organizational buyers.

answer

electronic marketing channels

question

allow consumers to buy products by interacting with various advertising media without face-to-face meeting with sales person

answer

direct marketing channels

question

blending of different communication and delivery channels mutually reinforcing in: attracting, retaining and building relationships with consumers who shop and buy in traditional intermediaries and online.

answer

multichannel marketing

question

firm reaches different buyers by employing 2+ different types of channels for same basic product

answer

dual distribution

question

one firm's marketing channel used to sell another firm's products. popular in global marketing.

answer

strategic channel alliances

question

professionally managed and centrally coordinated marketing channels designed to achieve channel economies and maximum marketing impact 3 types: corporate, contractual, admistered

answer

vertical marketing systems

question

combo of successive stages of production and distribution under single ownership.

answer

corporate vertical marketing system

question

producer might own intermediary at next level down in channel

answer

forward intergration

question

retailer might own manufacturing operation

answer

backward integration

question

independent production and distribution firms integrate efforts on contractual basis to obtain greater functional economies and marketing impact than could achieve alone.

answer

contractual vertical marketing system

question

wholesaler develops contractual relationship with small, independent retailers to standardize and coordinate buying practices, merchandising programs and inventory management efforts.

answer

wholesaler-sponsored voluntary chains

question

small, independent retailers form organization that operates wholesale facility cooperatively.

answer

retailer sponsored cooperatives

question

contractual arrangement between parent company (franchisor) and individual or firm (franchisee) that allow franchisee to operate certain type of business under established name and according to specific rule.

answer

franchising

question

manufacturer licenses dealers to sell products subject to various ales and service conditions. EX. automobile industry

answer

manufacturer sponsored retail franchise systems

question

licenses whole salers to distribute his products to retailers. Ex. soft drink industry

answer

manufacturer sponsored wholesale franchise systems

question

firms that have designed unique approach for performing service and wish to profit by selling franchise to others.

answer

service sponsored retail franchise systems

question

franchisors license individuals or firms to dispense service under trade name and specific guidelines.

answer

service sponsored franchise systems

question

achieve coordination at successive stages or production and distribution by size and influence of one channel member rather than through ownership

answer

administered vertical marketing systems

question

-Which channel and intermediaries will provide best coverage of target market? -Which channel and intermediaries will best satisfy buying requirements of target market? -Which channel and intermediaries will be most profitable?

answer

Question when choosing marketing channel and intermediaries

question

number of stores in geographical area; and type of intermediaries to be used at retail level of distribution

answer

density

question

firm tries to place its products and services in as many outlets as possible

answer

intensive distribution

question

extreme opposite of intensive dist. because only one retailer in specified geographical area carries firm's products

answer

exclusive distribution

question

lies between these 2 extremes; firm selects few retailers in specific geographical areas to carry its products.

answer

selective distribution

question

information, convenience, variety, pre- or post- sale services

answer

categories of buyer requirements

question

one of buyer requirements - - in store displays, demonstrations and personal selling

answer

information

question

one of buyer requirements - - multiple meanins - proximity, driving to retail outlet, minimum of time and hassle

answer

convenience

question

one of buyer requirements - - buyers interest in having numerous competing and complementary items from which to chose.

answer

variety

question

one of buyer requirements - - require delivery, installation and credit

answer

pre or post sale services

question

determined by margins earned for each channel member and for channel as whole

answer

profitability

question

one channel member believes another channel member engaged in behavior that prevents it from achieving its goals. 2 types- horizontal, vertical

answer

channel conflict

question

between different levels in marketing channel

answer

vertical conflict

question

channel member bypasses another member and sells or buys product direct

answer

disintermediation

question

between intermediaries at same level in marketing channel Ex.between 2 or more retailers, or 2 or more wholesalers that carry same brand

answer

horizontal conflict

question

channel member that coordinates, directs and supports other channel member

answer

channel captain

question

ability of firm to reward other members given strong financial position or customer franchise

answer

economic influence

question

not illegal, viewed as anti competitive in some situations.

answer

dual distribution

question

supplier requires channel member to sell only its products or restricts distributors from selling directly competitive products.

answer

exclusive dealing

question

supplier requires distributor purchasing some products to buy others from supplier

answer

tying arrangements

question

special kind of tying arrangement. supplier requiring channel member carry its full line of products in order sell specific item in supplier's line.

answer

full time forcing

question

with existing channel members may be illegal

answer

refusal to deal

question

suppliers attempt to stipulate to whom distributors may resell suppliers products and in what specific geographical are or territories they may be sold.

answer

resale restrictions

question

specifically prohibits exclusive dealing and tying arrangements when lessen competition or create monopolies

answer

clayton act

question

activities that focus on getting right amount of right products to right place at right time at lowest possible cost.

answer

logistics

question

the practice of organizing the cost effective flow of raw materials, in process inventory, finished goods, and related information from point of origin to point of consumption to satisfy customer requirements.

answer

logistics management

question

what is necessary to create a seamless flow of products to customers?

answer

collaboration, coordination, and info sharing

question

various firms involved in performing activities required to create and deliver product to consumers or industrial users

answer

supply chain

question

integration and organization of information and logistics activities across firms in supply chain for purpose of creating and delivering products and services that provide value to consumers

answer

supply chain management

question

-understanding the customer -understanding the supply chain -harmonizing supply chain with marketing strategy

answer

3 steps of aligning supply chain with marketing strategy

question

expenses associated with transportation materials handling and warehousing, inventory stockouts (being out of inventory), order processing and return products handling

answer

total logistics cost

question

service delivered to customers

answer

output

question

ability of logistics management to satisfy users in terms of time, dependability, communication, and convenience

answer

customer service

question

order cycle or replenishment time for item

answer

time

question

2 way link between buyer and seller that helps in monitoring service and anticipating future needs

answer

communication

question

supplier determines product amount and assortment customer (retailer) needs and automatically delivers appropriate items

answer

vendor-managed inventory (VMI)

question

process of reclaiming recyclable and reusable materials, returns and reworks from point of consumption or use for repair, remanufacturing, redistribution or disposal

answer

reverse logistics

question

pioneer of fast, convenient, low-cost virtual shopping attracted millions of consumers.

answer

Amazon

MKT Ch. 15 – Flashcards

Unlock all answers in this set

Haven't found what you were looking for?

Search for samples, answers to your questions and flashcards