Mkt. test 4

  1. place
    making goods and serves available in the right quantities and locations
  2. channel of distribution
    any series of firms or individuals who participare in the flow of products from producer to final user or consumer
  3. direct marketing
    • direct communication between a seller and an individual customer using a promotion method other than face-to-face personal selling.
    • coupled with direct distribution
  4. discrepancy of quantity
    the difference between the quantity of products it is economical for a producer to make and the quantity final users or consumers normally want.
  5. discrepancy of assorment
    the difference between the lines a typical producer makes and the assorment final consumers or users want.
  6. regrouping activities
    adjust the quantities or assorments of products handled at each level in channel of distribution.
  7. accumulating
    collecting products from many small producers.
  8. bulk-breaking
    dividing larger quantities into smaller quantities as products get closer to the final market.
  9. sorting
    separating products into grades nd qualities desired by different target markets.
  10. assorting
    putting together a variety of products to give a target market what it wants.
  11. traditional channel systems
    the various channel members make little or no effort to cooperate with each other. they buy and sell from each other and that's it.
  12. channel captain
    a manager who helps direct the activities of a whole channel and tries to avoid or solve channel conflicts.
  13. vertical marketing systems
    channel systems in which the whole channel focuses on the same target market at the end of the channel.
  14. coorporate channel systems
    corporate ownership along the channel.
  15. vertical integration
    acquiring firms at different levels of channel activity.
  16. administered channel systems
    the channel membersinformally agree to cooperate with each other.
  17. contractual channel systems
    the channel memebers agree by contract to cooperate with each other.
  18. ideal market exposure
    makes a product available widely enough to satisfy target customers' needs but not exceed them. too much exposure only increases the toal cost of marketing.
  19. intensive distribution
    selling a product through all responsible and suitable wholesalers or retailers who will stock or sell the product.
  20. selective distribution
    selling through only those intermediaries who will give the product special attention.
  21. exclusive distribution
    selling through only one intermediary in a particular geographic area.
  22. multichannel distribution
    when a producer uses several competing channels to reach the same target market.
  23. reverse channels
    channels used to retrieve products that customers no longer want.
  24. exporting
    selling some of what the firm produces in foreign markets.
  25. licensing
    selling the right to use some process, trademark, patent or other right for a fee or royalty.
  26. management contracting
    the seller provides only management and marketing skills-others own the production and distribution facilities.
  27. joint venture
    domestic firm enters into a partnership with a foreign firm.
  28. direct investment
    a parent firm has a division (or owns a separate subsidary firm) in a foreign market.
  29. logistics
    the transporting, storing and handling of goods in ways that match target customer's needs with a firm's marketing mix- both within a individual firms and along a channel of distribution.
  30. physical distribution
    another common name for logistics
  31. customer service level
    how rapidly and dependably a firm can deliver what the customers want.
  32. physical distribution concept
    says that all transporting, storing and product-handling activities of a business and a whole channel system should be coordinated as one system that seeks to minimize the cost of distribution for a given customer service level.
  33. total cost approach
    involves evaluating each possible PD system and identifying all of the costs of each alternative.
  34. supply chain
    the complete set of firms and facilities and logistics activities that are involved in procuring materials, transforming them into intermediate or finished products, and distributing them to the customers.
  35. electronic data interchange (EDI)
    an approach that puts information in a standardized format easily shared between different computer systems
  36. transporting
    • the marketing function of moving goods.
    • railroads-low cost
    • trucks-more expensive but flexible and essential
    • ship-overseas but slowly
  37. containerization
    grouping individual items into an economical shipping quantity and sealing them in protective containers for transit to the final destination.
  38. storing
    the marketing function of holding goods so they're available when they're needed.
  39. inventory
    the amount of foods being stored.
  40. private warehouses
    storing facilities owned or leased by companies for their own use.
  41. public warehouses
    independent storing facilities.
  42. distribution center
    special kind of warehouse designed to speed the flow of goods and avoid unnecessary storing cost.
  43. retailing
    covers all of the activities involved in the sale of products to final consumers.
  44. general stores
    • carried anything they could sell in reasonable volume.
    • old
  45. single-line or limited-line stores
    stores that specialize in certain lines of related products rather than a wide assortment.
  46. specialty shop
    a type of conventional limited-line store, usually small and has a distinct 'personality'
  47. department stores
    larger stores that are organized into many separate departments and offer many product lines.
  48. mass-merchandising concept
    says retailers should offer low prices to get faster turnover and greater sales volumes by appealing to larger markets
  49. supermarkets
    large stores specializing in groceries with self-service and wide assortments.
  50. discount houses
    offer hard goods (cameras, tv's, appliances) at substantial price cuts to customers who would go to the discounter's low-rent store, pay cash and take care of any service or repair problems themselves.
  51. mass-merchandisers
    large, self-service stores with many departments that emphasize on soft goods (housewares, clothing and fabrics) and staples but still follow the discount house's emphasis on lower margins to get faster turnover.
  52. supercenters
    very large stores that try to carry not only good and drug items but all goods and services that the consumer purchase routinely.
  53. convenience (food) goods
    convenience-oriented variation of the conventional limited-line food stores.
  54. automatic vending
    selling and delivering products through vending machines.
  55. door-to-door selling
    a salesperson going directly to the consumer's home to sell a product.
  56. telephone and direct-mail retailing
    allow consumers o shop at home. placing orders by mail or telephone calls.
  57. wheel of retailing theory
    says that new types of retailers enter the market at low-status, low-margin, low-price operation and then, if successful, evolve in more conventional retailers offering more services with higher operating costs and higher prices.
  58. scrambled merchandising
    carrying any product lines they think they can sell profitably.
  59. corporate chain
    a firm that owns and manages more than one store and often it's many.
  60. cooperative chains
    retailer-sponsored groups formed by independent retailers that run their own buying organizations and conduct joint promotion efforts.
  61. voluntary chains
    wholesaler-sponsored groups that work with indepenedent retailers
  62. franchise operation
    the franchisor develops a good marketing strategy and the retail franchise holders carry out the strategy in their own units.
  63. wholesaling
    concerned with the activities of those persons or establishments that sell to retailers and other merchants or to industries, institutional and commercial users but that do not sell in large amounts to final consuemers.
  64. wholesalers
    firms whose main function is providing wholesaling activities.
  65. manufacturer's sales branches
    warehouses that producers set up at separate locations away from their factories.
  66. merchant wholesalers
    own the products they sell. they take title to these products.
  67. service wholesalers
    merchant wholesalers that provide all the wholesaling functins
  68. general merchandise wholesalers
    service wholesalers that carry a wide variety of nonperishable items such as hardware, electrical supplies, furniture, drugs, cosmetics and automobile equipment.
  69. single-line (general-line) wholeslers
    service wholesalers that carry a narrower line of merchandise than general merchandise wholesalers.
  70. specialty wholesalers
    service wholesalers that carry a very narrow range of products and offer more information and service than other service wholesalers.
  71. limited function wholesalers
    provide only some wholesaling functions
  72. cash and carry wholesalers
    operate like service wholesalers except that the customer must pay cash.
  73. drop-shippers
    own the products they sell but they do not actually handle stock or deliver them.
  74. truck wholesalers
    specialize in delivering products that they stock in their own trucks.
  75. rack jobbers
    specialize in hard-to-handle assortments of products that a retailer doesn't want to manage. display products on their own wide racks.
  76. catalog wholesalers
    sell out of catalogs that may be distributed widely to smaller industrial customers or retailers that might not be called on by other wholesalers.
  77. agent wholesalers
    wholesalers who do not own the products they sell.
  78. manufacturers' agent
    sell similar products for several noncompeting producers- usually for a commission of what is sold.
  79. export or import agents
    specially in international trade.
  80. brokers
    bring nuyers and sellers together.
  81. export and import brokers
    work like brokers but bring buyers and sellers together in different countries.
  82. selling agents
    take over the whole marketing job of producers, not just the selling fuction.
  83. combination export manager
    blend of manufacturer's agent and selling agent.
  84. auction companies
    provide a place where buyers and sellers can come together and bid to complete a transaction.
Card Set
Mkt. test 4
mkt test 4