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MKT 309 Chapter 15
| Question | Answer |
|---|---|
| Marketing Channel | individuals and firms involved in process of making a product available for use or consumption by consumers |
| Agent or broke | Intermediary with legal authority to act on behalf of the manufacturer |
| Wholsealer | Intemediary who sells to other intemediaries, usually to retailers |
| Retailer | Intermediary who sells to consumers |
| Distributor | Intermediaries who perform a variety of distribution functions, including selling, maintaining inventories, extending credit, etc |
| Dealer | Imprecise term that could be any intermediary |
| Transactional Function | buying, selling and risk taking because they stock merchandise in anticipation of sales |
| Logistical Function | gathering, storing, and dispersing of products |
| Direct Channel (O-Level Channel) | Manufacturer and ultimate consumers deal directly with each other |
| Indirect Channel (1/2-Level Channel) | Intermediaries are inserted between producer and consumers and perform numerous channel functions |
| Industrial Distributor | Performs a variety of marketing channel functions, including selling, stocking, delivering a full product and financing-Like wholesales in consumer channels |
| Electronic Marketing Channels | Employ the internet to make goods and services available for consumption or use by consumers or business buyers |
| Direct Marketing Channels | allow consumers to buy products by interacting with various advertising media without a face to face meeting with a salesperson |
| Multichannel Marketing | blending of different communication and delivery channels that are mutually reinforcing |
| Mutually Reinforcing | attracting, retaining, and building relationships with consumer who shop and buy in traditional intermediaries and online |
| Dual Distribution | arrangement firm reaches differnt buyers by employing two or more differnt types of channels for the same basic product |
| Strategic Channel Alliances | one firm's marketing channel is used to sell another firm's products |
| Merchant Wholesales | independently owned firms that take title to the merchandise they handle |
| General (Full Line) Merchandise wholesalers | carry broad assortment of merchandise and perform all channel functions |
| Specialty Merchandise (Limited Line) wholesalers | offer narrow range of products but have extensive assortment within the product lines carried |
| Cash and Carry Wholesalers | take title to merchandise but sell only to buyers who call them, pay cash, and furnish own transportation |
| Drop Shippers (Desk Jobbers)wholesalers | wholesalers that own merchandise they sell but do not physically handle, stock, or deliver it |
| Manufacturer's Agents (MANA) | work for several producers and carry non competitive, complementary merchandise in exclusive territory |
| Selling Agnets | represent single producer and reponsible for entire marketing function of that producer |
| Brokers | independent firms or individuals whose principal function is to bring buyers and sellers together to make sales |
| Manufacterer's branch office | carries a producer's inventory and performs the functions of full service wholesaler |
| Manufacturer's sales office | does not carry inventory, typically performs only sales functions |
| Vertical Marketing Systems (VMS) | Profit Consolidation Professonally managed and centrally coordinated marketing channels designed to achieve channel economies and maximum marketing impact |
| Corporate Vertical Marketing System | combination of successive stages of production and distribution under a single ownership |
| Forward integration | producer owns the intemediaries at next level of channel |
| Backward integration | Retailer owns manufacturing operation |
| Contractual Vertical Marketing System | independent production and distribution firms integrate their efforts on a contractual basis to obtain greater functional economies than if they were alone |
| Wholesaler Sponsered voluntary Chains | wholesaler develops contract with small independent retailers to standardize business |
| Retailer Sponsored cooperatives | exist when small, independent retailers form an organization that operates a wholesale facility cooperatively |
| Franchizing | contractual arrangement between parent company and a firm that allows the firm to operate certain type of business under parent company |
| Man Sponsored Retail Franchise system | manufacturer dictates selling practices of finished product for retailer |
| Man Sponsored Whoelsale Systems | parent company dictates selling practices of parts of product for retailer |
| Service Sponsored Retail Franchise systems | firms have desigend unique approach to performance and wish to profit by selling th efrancise to others |
| Service Sponsored Franchise Systems | franchisors license individuals or firms to dispense a service under a trade name and specific guidelines |
| Administered Vertical Marketing Systems | achieve coordination at successive stages of production and distribution by size and influence of one channel rather than through ownership |
| Channel Partnership | consists of agreements and procedures among channel members for ordering and physically distributing a producer's products through the channel to consumer |
| Intensive Distribution (Convenience Goods) | firm tries to place its products and services in as many outlets as possible |
| Exclusive Distribution (Specialty Goods) | firms are particular in where their products are placed |
| Selective Distributions (Shopping Goods) | frim selects a few retail outlets in specific demographic they wish to target |
| Keiretsu | bond producers and intermediaries together |
| Channel Conflict | arises when one channel member believes another channel member is engaged in behavior that prevents it form achieving its goals |
| Vertical conflict | between different levels in marketing channel |
| Disintermediation | channel member bypasses another member and sells/buy products direct |
| Horizontal Conflict | occurs between intermediaries at the same level of channel |
| Channel Captain | channel member that coordinates directs and supports other channel members |
| Dual Distribution | manufacturer distributes through its own verticlaly integrated channel in competition with independent wholesalers and retailers that also sell its products |
| Exclusive dealing | when supplier requires channel members to sell only its products |
| Tying arrangements | supplier requires a distributor purchasing some products to buy others form the supplier |
| 1-Level Channel | Manufacturer to Wholesaler/Retailer Hybrid to Consumer |
| 2-Level Channel | Manufacturer to Wholesaler or Broker/Agent to Retailer to Customer |
| Truck Jobber | Limited Service Merchant Wholesaler that sells right off of Truck-Gives buyer method of Delivery |
| Rack Jobber | Wholesaler owns rack and charges on only what is sold off of rack |
| Horizontal Marketing System (HMS) | Buyout competitors to consolidate marketshare |
| Electronic Data Interface (EDI) | Computers ordering from other computers automated merchandise |
| Buying Co-Ops | Company's Cooperate to purchase materials at bulk to decrease per unit cost |
| EOQ | Economic Ordering Quotient |
| JIT | Just in time |
| VMI | Vendor Managed Inventory. Purchase 1000 units but only accept shipments in 100 unit increments. |
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