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Principles of Marketing > Ch 13 Vocab > Flashcards

Ch 13 Vocab Flashcards

1
Q

Connected chain of all of the business entities both internal and external to the company that perform or support the logistics function

A

Supply Chain

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2
Q

Management system that coordinates and integrates all of the activities performed by supply chain members into a seamless process, from the source to the point of consumption, resulting in enhanced customer and economic value

A

Supply Chain Management (SCM)

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3
Q

An operational strategy focused on creating inventory velocity and operational flexibility simultaneously in the supply chain

A

Supply Chain Agility

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3
Q

Manufacturer’s or supplier’s use of an independent third party to manage an entire function of the logistics system, such as transportation, warehousing, or order processing

A

Outsourcing (Contract Logistics)

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4
Q

a firm that provides functional logistics services to others

A

Third Party Logistics Company (3PL)

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5
Q

reinstitutionalization of a business process from an outsource location/country back to the original location to gain economic advantage

A

Reshoring

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6
Q

transfer of an outsourced activity from a distant to a nearby country

A

Nearshoring

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7
Q

radio-frequency identification; a device that uses radio waves as a means of locating a piece of inventory within a confined geographic space

A

RFID

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8
Q

a system of management practices that are consistent with a “systems thinking” approachc

A

Supply Chain Orientation

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9
Q

Multiple firms or business functions in a supply chain coordinate, their activities and processes so that they are seamlessly linked to one another to satisfy the customer

A

Supply Chain Integration

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10
Q

Supply chain operational philosophy focused on integrating the supply-management and demand-generating functions of an organization

A

Demand Supply Integration (DSI)

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11
Q

Bundles of interconnected activities that stretch across firms in the supply chain

A

Business Processes

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12
Q

Allows companies to prioritize their marketing focus on different customer groups according to each group’s long-term value to the company or supply chain

A

Customer Relationship Management Process (CRM)

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13
Q

Presents a multi-company, unified response system to the customer whenever complaints, concerns, questions, or comments are voiced

A

Customer Service Management Process

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14
Q

Seeks to align supply and demand throughout the supply chain by anticipating customer requirements at each level and creating demand-related plans of action before actual customer purchases

A

Demand Management Process

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15
Q

Method companies use to align production with demand by merging tactical and strategic planning methods across functional areas of the business

A

Sales and Operational Planning (S&OP)

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16
Q

Highly integrated process, often requiring persons from multiple companies and multiple functions to come together and coordinate to create customer satisfaction at a given place and time

A

Order Fulfillment Process

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17
Q

Time delay between the placement of a customer’s order and the customer’s receipt of that order

A

Order Cycle Time

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18
Q

Process concerned with ensuring that firms in the supply chain have the needed resources to manufacture with flexibility and to move products through a multistage production process

A

Manufacturing Flow Management Process

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19
Q

Standardized form of component parts manufacturing designed so the parts are easily replaced or interchanged

A

Modular

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20
Q

Supports manufacturing flow by identifying and maintaining relationships with highly valued suppliers

A

Supplier Relationship Management Process

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21
Q

Includes the group of activities that facilitates the joint development and marketing of new offerings among a group of supply chain partner firms

A

Product development and commercialization process

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22
Q

Enables firms to manage volumes of returned product efficiently while minimizing returns-related costs and maximizing the value of the returned assets to the firms in the supply chain

A

Returns management process

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23
Q

Supply chain management philosophy that embraces the need for optimizing social and environmental costs in addition to financial costs

A

Sustainable supply chain management

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24
Q

Financial, social, and environmental effects of a firm’s policies and actions that determine its viability as a sustainable organization

A

Triple Bottom Line

25
Q

A firm publicly feigns support for environmental or social sustainability but fails to live up to these standards in practice

A

Greenwashing

26
Q

Use of digital technologies to change a business model and provide new revenue or value

A

Digitalization

27
Q

System of interrelated computing devices, mechanical and digital machines, objects, animals, or people that are connected and able to transfer data over a network without overt human effort

A

Internet of Things (IoT)

28
Q

Rapidly collected and difficult-to-process large-scale data sets that have recently emerged and push the limits of current analytical capability

A

Big Data

29
Q

Data analyses that support the improved design and management of the supply chain

A

Supply Chain Analytics

30
Q

Computer science area focused on making machines that can simulate human intelligence processes

A

Artifical Intelligence (AI)

31
Q

Application of artificial intelligence that provides systems the ability to automatically learn and improve from experience without being explicitly programmed

A

Machine Learning (ML)

32
Q

Practice of using remote network servers to store, manage, and process data

A

Cloud Computing

33
Q

Devices that act largely or partially autonomously, that interact physically with people or their environment, and that are capable of modifying their behavior based on sensor data

A

Advanced Robotics

34
Q

Cars, trucks, or other ground transportation modes for which human drivers are not required to take control to safely operate the vehicle

A

Automated Vehicles

35
Q

Unmanned aerial vehicles that can be controlled remotely or can fly autonomously when executing a task

A

Drones

36
Q

Includes any kind of product or service that can be distributed electronically, whether over traditional forms such as fiber-optic cable or through satellite transmission of electronic signals

A

Digital Distribution

37
Q

Creation of three-dimensional objects via an additive manufacturing (printing) technology that layers raw material into desired shapes

A

Three-Dimensional Printing (3DP)

38
Q

Degree to which a business can track a product’s development through stages beginning with a raw material state and ending with delivery to the final consumer

A

Supply Chain Traceability

39
Q

Digital ledger in which transactions are made and recorded chronologically and publicly

A

Blockchain

40
Q

Set of interdependent organizations that eases the transfer of ownership as products move from producer to business user or consumer

A

Marketing Channel (Channel of Distribution)

41
Q

All parties in the marketing channel who negotiate with one another, buy and sell products, and facilitate the change of ownership between buyer and seller in the course of moving the product from the manufacturer into the hands of the final consumer

A

Channel Members

42
Q

Elements of the composition and appearance of a product that make it desirable

A

Form Utility

43
Q

Increase in customer satisfaction gained by making a good or service available at the appropriate time

A

Time Utility

44
Q

Usefulness of a good or service as a function of the location at which it is made available

A

Place Utility

45
Q

Increased value of a product that is created as its ownership is transferred

A

Exchange Utility

46
Q

Institution that buys goods from manufacturers and resells them to businesses, government agencies, and other wholesalers or retailers and that receives and takes title to goods, stores them in its own warehouses, and later ships them

A

Merchant Wholesaler

47
Q

Wholesaling intermediaries who do not take title to a product, but facilitate its sale from producer to end user by representing retailers, wholesalers, or manufacturers

A

Agents and Brokers

48
Q

Channel intermediary that sells mainly to consumers

A

Retailer

49
Q

Distribution channel in which producers sell directly to consumers

A

Direct Channel

50
Q

Use of two or more channels to distribute the same product to target markets

A

Dual or Multiple Distribution

51
Q

Nonphysical channels that facilitate the unique market access of products and services

A

Nontraditional Channels

52
Q

Cooperative agreement between business firms to use the other’s already established distribution channel

A

Strategic Channel Alliance

53
Q

Secondary channels that are unintended to be used by the producer, and which often flow illegally obtained or counterfeit product toward customers

A

Gray marketing channels

54
Q

Channels that enable customers to return products or components for reuse or remanufacturing

A

Reverse Channels

55
Q

System used by several retailers that allows customers to bring used products for return or donation at the entrance of the store

A

Drop and Shop

56
Q

Electronic pathways that allow products and related information to flow from producer to consumer

A

Digital Channels

57
Q

Ability to conduct commerce using a mobile device to buy or sell goods or services

A

M-Commerce

58
Q

Having a product available in every outlet where target customers might want to buy it

A

Intensive Distribution

59
Q

Form of distribution achieved by screening dealers to eliminate all but a few in any single area

A

Selective Distribution

60
Q

Distribution to only one or a few dealers within a given area

A

Exlusive Distribution

Principles of Marketing (10 decks)

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