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PLACE UNIT
Marketing & Sales
| Question | Answer |
|---|---|
| In marketing terms, we say that the number of intermediaries indicates the ____________ of a channel. | length |
| Due in large part to technology, businesses are following a major trend that allows them to bypass intermediaries & go directly to final buyers. What is this called? | Disintermediation |
| A strategy in which a business stocks their products in as many outlets as possible is called what? | Intensive distribution |
| If a producer gives only a limited number of dealers exclusive rights to distribute its product in territories, what strategy is being used? | Exclusive distribution |
| The use of more than one, but fewer than all, of the intermediaries who are willing to carry a company's products is what strategy? | Selective distribution |
| This type of distribution system lacks leadership & power which more often results in channel conflict. | Horizontal marketing system |
| This type of distribution system consists of producers, wholesalers, and retailers who act as a unified system because one has contracts with the others. Typically, the system is dominated by one party. | Vertical marketing system |
| A type of vertical marketing system that integrates successive stages of production & distribution under single ownership. | corporate VMS |
| A type of vertical marketing system that consists of independent firms at different levels of production & distribution who join together through contracts to achieve more together than alone. | Contractual VMS |
| Which type of vertical marketing system is a franchise? | Contractual VMS |
| A type of vertical marketing system that is assumed because of the size and power one channel member has over the others. | Administered VMS |
| If a firm has more than one channel available for consumers to purchase their products what is this called? For example, it could be online & in their retail store. | multichannel distribution system |
| What is it called when a disagreement occurs among marketing channels about goals and/ or roles of each member? | Channel conflict |
| If a business does not use any intermediaries what type of distribution channel are they using? | Direct marketing channel |
| A channel containing one or more intermediary levels is called what? | indirect marketing channel |
| What do you call the network made up of the company, suppliers, distributors, and customers who all partner to deliver customers value? | Value Delivery Network |
| What do you call all activities involved in selling goods or services directly to final consumers for their personal, nonbusiness use? | Retailing |
| Retailers differentiate themselves based on the amount of service they provide. What level of service do high-end retailers typically provide? | full-service |
| Retailers differentiate themselves based on the amount of service they provide. What level of service is the basis for all discount operations such as Wal-mart or Kohls? | self-service |
| Retailers differentiate themselves based on the types of products they provide. Which retailers typically carry a narrow product line with deep assortments within those lines? | specialty stores |
| Retailers differentiate themselves based on the types of products they provide. Which retailers offer a wide variety of product lines where each product line is typically placed in a separate area of teh store? | department stores |
| Retailers differentiate themselves based on the types of products they provide. Which type of retailer carries a limited line of high-turnover convenience goods? | convenience stores |
| Retailers differentiate themselves based on the price of their products. Which type of retailer sells standard merchandis at lower prices? Typically, they will price goods so that they achieve lower margins, but make up for it in volume. | discount store |
| Retailers differentiate themselves based on the price of their products. Which type of retailer is manufacture-owned and operated and often times offer prices at 50% below retail. It's one of Mrs. Bird's favorite type of retail store. | Factory outlets |
| What is the future trend in retailing called that is creating greater competition for retailers because of the merging of consumers & products. More products are available in more places. | Retail convergence |
| What is the future trend in retailing that allows for a group of people to get together? For example, today's book stores have become part book store, part library, part coffee shop, etc. | Communities or hangouts |
| What do you call all activities involved in selling goods and services to those buying for resale or business use? | Wholesaling |
| What type of wholesaler brings buyers and sellers together, assists in negotiation, but does not take title to goods in the process? | broker |
| What type of wholesalers is similar to a broker however, they bring buyers and sellers together on a more permanent basis? They are sometimes called manufacturers' representatives. | Agents |
| What are the 4 P's of the Retail Mix? | Product, Price, Promotion, & Place |
| Retailers must first _________ and define their target markets and then decide how they will differentiate and __________ themselves in these markets. This makes up the retail strategy. | segment, position |
| All retailers would like to achieve _________ while charging ____________, but the two seldom happen together. | high volume, high mark-ups |
| The success of each channel member depends on the performance of | the entire supply chain |
| What do you call superstores that are actually giant specialty stores who carry a deep assortment of a particular line and have staff who can assist you? | Category Killers |
| A ________________________ is a smaller mall with upscale stores, convenient locations, and expensive atmosphere. It is typically located near affluent residential neighborhoods. | lifestyle center |
Created by:
sarahlbird
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