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Marketing 396 > Chapter 11 > Flashcards

Chapter 11 Flashcards

1
Q

What does upstream mean?

A

A set of firms that supply raw materials, components, parts, information, finances, and expertise needed to create a product or service

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2
Q

What does downstream mean?

A

Marketing channels that look toward the customer

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3
Q

What is a value delivery network?

A

Made up of a company, suppliers, distributors, and ultimately customers who partner with each other to improve the performance of the entire system

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4
Q

What does the term supply chain mean?

A

Suggests that raw materials, productive inputs, and factory capacity should serve as a starting point for marketing

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5
Q

What does the term demand chain mean?

A

Planning starts by identifying needs of target customers, to which a company responds by organizing a chain of resources and activities with the goal of creating customer value

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6
Q

What is a marketing channel?

A

A set of interdependent organizations that help make a product or service available for use or consumptions by a consumer or business customer

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7
Q

Why do producers use intermediaries?

A

They create greater efficiency in making goods available to target markets

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8
Q

What is the role of marketing intermediaries?

A

To transform assortments of products made by producers into assortments wanted by consumers

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9
Q

What are the specific functions channel partners can perform?

A
  1. Information gathering and distribution
  2. Promotion at point of purchase
  3. Contact
  4. Matching and arranging
  5. Negotiation
  6. Physical distribution
  7. Financing
  8. Risk taking
  9. After-sales support
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10
Q

What are channel partners?

A

Businesses that are owned and operated independently from a manufacturer and are contracted by a manufacturer to perform a specific function in the movement of a product

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11
Q

What is retailing?

A

A business of selling products and services directly to consumers for personal use

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12
Q

What is a retailer?

A

A business that primarily sells products and services to consumers

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13
Q

What is wholesaling?

A

All the activities involved in selling goods and services to those buying for resale or business use

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14
Q

What are wholesalers?

A

Companies that buy from producers and sell to retailers, business customers, and other wholesalers

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15
Q

What is drop shipping?

A

Refers to process in which intermediary takes an order from customer and passes it to the manufacturer or wholesalers, which then ships the item directly to the customer

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16
Q

What is a rack jobber?

A

Buys merchandise and then sets up “rack” displays inside retail stores, where merchandise is sold to customers

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17
Q

What is a broker?

A

A wholesaler that does not take title to goods and whose function is to bring buyers and sellers together and assist in negotiation

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18
Q

How do brokers differ from merchant wholesalers?

A
  1. Do not take title to goods

2. Perform only a few functions

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19
Q

What are agents?

A

A representative, either of a buyer or seller, who performs only a few functions and does not take title ti goods

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20
Q

What are two common types of agents?

A

Manufacturers’ agents and advertising agents

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21
Q

What is a channel level?

A

A layer of intermediaries performs some work in bringing a product and its ownership closer to the final buyer

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22
Q

What is a direct marketing channel?

A

A marketing channel that has no intermediary levels

23
Q

What is indirect marketing channels?

A

When a business uses one or more intermediaries to reach final customers

24
Q

What is a vertical marketing system?

A

A distribution channel structure in which producers, wholesalers, and retailers act as a unified system

25
Q

What is corporate VMS?

A

A vertical marketing system, that combines successive stages of production and distribution under a single ownership

26
Q

What is administered VMS?

A

Leadership is assumed not through common ownership or contractual ties, but through size and power of one or a few dominant channel members

27
Q

What is contractual VMS?

A

Consists of independent firms at different levels of production and distribution that work together under contract

28
Q

What is a franchise?

A

A retailer or service provider that operates under a license using another firm’s proven, successful business model

29
Q

What is a franchisor?

A

A corporation that owns the rights to a brand and business model

30
Q

What is a franchise organization?

A

A marketing system that links several stages in production and distribution process, and controls operations from central head office

31
Q

What are the three types of franchises?

A
  1. Manufacturer-sponsored retailer franchise system
  2. Manufacturer-sponsored wholesaler franchise system
  3. Service-form sponsored retailer franchise system
32
Q

What is a horizontal marketing system?

A

Two or more companies that operate at the same channel level join together to follow a new marketing opportunity

33
Q

What is a multichannel or hybrid distribution system?

A

Occurs when a single firm sets up two or more marketing channels to reach one or more market segments

34
Q

What is channel conflict?

A

Disagreements over goals, roles, and rewards among channel members

35
Q

What is horizontal conflict?

A

Occurs among firms that perform the same function at the same level of channel

36
Q

What is vertical conflict?

A

Occurs between different levels of the same channel and is more common

37
Q

What is disintermediation?

A

Occurs when an established intermediary becomes unnecessary and is cut out of the channel

38
Q

What is intensive distribution?

A

Marketers of everyday convenience products such as soft drinks and snack foods typically choose intensive distribution

39
Q

What is selective distribution?

A

A marketer selects a set of retailers that specialize in product category

40
Q

What is exclusive distribution?

A

A marketer gives the rights to distribute products to only one retailer, or to only one retailer in a particular geographic territory

41
Q

What is a marketing channel design?

A

Calls for analyzing customer needs, setting channel objectives, determining types and responsibilities of channel members, and making decisions about international distribution channels

42
Q

What is logistics management?

A

Requires planning, implementing, and controlling the physical flow of goods, services, and related information from points of origin to points of consumption to meet customer requirements at a profit

43
Q

What does logistics involve?

A
  1. Outbound distribution
    - Moving products from a factory to resellers and ultimately to customers
  2. Inbound distribution
    - Moving products and materials from suppliers to a factory
  3. Reverse distribution
    - Moving broken, unwanted, or excess products returned by consumers or resellers
44
Q

What is just-in-time logistics systems?

A

Producers and retailers carry only small inventories of parts or merchandise, often only enough for a few days of operations

45
Q

What is RFID?

A

Tiny computer chips embedded in products or product containers that allow scanner to track movement without touching them

46
Q

Explain trucks

A

Trucks are one of the oldest forms of transportation. They are highly flexibly in routing and time schedules, and can usually offer faster service than railroads

47
Q

Explain railroads

A

Railroads are one of the most cost-effective modes for shipping large amounts of bulk products over long distances

48
Q

Explain ships and barges

A

Used mainly for shipping goods across oceans

49
Q

Explain pipelines

A

Specialized means of shipping petroleum, natural gas, and chemicals from sources to markets

50
Q

Explain air carriers

A

Expensive and cost more than railroads or trucks. Only used when the speed of delivery is more important than cost

51
Q

Explain the internet

A

Carries digital products from producer to customer via satellite, cable, phone wire, or wireless signal

52
Q

What is multimodal transportation?

A

Combining two or more modes of transportation

53
Q

What are third-party logistics providers?

A

Independent provider that performs any or all of the functions required to get its client’s product to the market

Marketing 396 (9 decks)

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