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Principles of Marketing Management > Chapter 12 > Flashcards

Chapter 12 Flashcards

1
Q

Individuals and firms involved in the process of making a product or service available for use or consumption by consumers or industrial users

A

Marketing Channel

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2
Q

Any intermediary between manufacturer and end user

A

Middleman

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3
Q

Any intermediary with legal authority to act on behalf of the manufacturer

A

Agent or broker

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4
Q

An intermediary who sells to other intermediaries, usually to retailers; term usually aplies to consumer markets

A

Wholesaler

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5
Q

An intermediary who sells to consumers

A

retailer

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6
Q

An imprecise term, usually used to describe intermediaries who perform a variety of distributive functions

A

distributor

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7
Q

What are the three types of functions marketing channel intermediaries perform?

A

Transactional Functions
Logistical Function
Facilitating Function

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8
Q

Purchasing products for resale or as an agent for supply of a product

A

buying

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9
Q

Contacting potential customers, promoting products, and seeking orders

A

selling

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10
Q

Risk taking

A

Assuming business risks in the ownership of inventory that can become obsolete or deteriorate

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11
Q

Buying, selling, and risktaking are

A

transactional functions

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12
Q

Assorting, Storing, Sorting, Transporting

A

logistical functions

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13
Q

Financiing, grading, arketing info and research

A

facilitating function

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14
Q

What are the four ways intermediaries create value for customers

A

time, place, forum, and possession

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15
Q

having a product or service when you want it

A

time utility

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16
Q

having a product or service available where you want it

A

place utility

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17
Q

making a product more appealing to buyers

A

form utilities

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18
Q

efforts by intermediaries to help buyers take possession of a product or service

A

possession utility

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19
Q

a channel in which the producer and ultimate consumers deal diretly with each other

A

direct channel

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20
Q

a channel in which intermediaries are inserted between the producer and consumer

A

indirect channel

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21
Q

When an indirect channel contains a producer, a retailer, and consumer what is likely to be true?

A

most common when a retailer is large and can buy in large quantities from a producer, or when the cost of inventory makes it too expensive to use a wholesaler (toyota)

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22
Q

If a indirect channel contains a producer, a wholesaler, a retailer and a consumer what is probably true?

A

low-cost, low unit value item

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23
Q

If the chain has an agent wholesaler retailer,

A

many small manufacturers and many small retailers

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24
Q

When are direct channels used for business products?

A

When buyers are large and well defined, he sales effort requires extensive negotiations, and the products are of high unit value and require hands-on expertise

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25
Q

If a marketing channel for business products uses an industrial distributor,

A

the industrail distributor performs a variety of marketing channel functions including selling, stocking, delivering, and financing

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26
Q

emploring the internet to make products and services available for consumption or use by consumers or organizational buyers

A

electronic marketing channels

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27
Q

allowing consumers to buy products by interaction with various advertising media without a face-to face meeting with a salesperson

A

direct marketing channels (ll bean)

28
Q

The blending of different communication and delivery channels that are mutually reinforcing in attracting, retaiinng and building relationships with customers

A

multichannel marketing

29
Q

an arrangement whereby a firm reaches different buyers by using two or more different types of channels for tyhe same basic product (pharmacies

A

dual distribution

30
Q

one firm’s marketing channel being used to sell another firm’s products

A

strategic channel alliances

31
Q

Professionally managed and certrally coordinated marketing channels designed to achieve channel economies and maimum marketing impact

A

vertical marketing systems

32
Q

What are the three major types of vertical marketing systems

A

corporate, contractual, administered

33
Q

The combination of successive stages of production and distribution under a single ownship is called

A

corporate vertical marketing system *Ralph Lauren, goodyear, apple

34
Q

What is a retailer owning a manufacturing operation

A

backward integration *Kroger, Tiffany,(

35
Q

A producer owning intermediary at the next level down in the channel

A

forward integration

36
Q

independent production and distribution firms integrate their efforts on a contractual basis to obtain greater function ecnonmies and mareting impact than they could alone?

A

Contractual (Most pop. VMS)

37
Q

What are the three variations on contractual systems

A

Wholesaler-sponsoered voluntary chains, Retailer-sponsored cooperatives, Franchising

38
Q

A wholesaler that develops a contractual relationship with small, independent retailers to standardize and coordinate buying practices, merchandising programs, and inventory management efforts (IGA, Ben Franklin)

A

Whoesaler sponsored voluntray chains

39
Q

Small, independent retailers form an organization thart operates a wholesale facility cooperately (Co-ops)(Ace Hardware)

A

retailer sponsored cooperatives

40
Q

A contractual arrangement between and parent company and an individual firm that allows the franchisee to operate a certain type of business under an exstablished name and according to swpecific rules

A

franchise

41
Q

What are the four types of franchise agreements?

A

Manufacturer-sponsored retail franchise systems, Manufacturer sponsored wwholesale franchise, Service spnonsored retail franchise, Service-sponsored francihse systems

42
Q

Achieve coordination at successive stages of production and distribution by the size and influence of one channel member rather than through ownership

A

Administered vertical marketing system

43
Q

What are the three levels of density in retail distribution?

A

intensive, exclusive, selective

44
Q

When a firm tries to place aits products or services in as many outlets as possible (Coca-cola)

A

intensive

45
Q

When only one retail outlet in a specific geographical area carris the firm’s products (Gucci)

A

Exclusive

46
Q

When a firm selects a few retail outlets in a specific geographical area to carry its products (Dell)

A

selective distributionWhat are the four buyer requiremens?

47
Q

information conveninence, variety, pre/postsale service

A

a

48
Q

Arises when one channel member believes another channel member is engaged in behavior that prevent it from achieving its goal

A

channel conflict

49
Q

Occurs between different levels in the marketing channel–between say a manufacturer and wholesaler?

A

vertical conflict

50
Q

What are three sources of vertical conflict?

A

disintermediation (buying products direct)
disagreements over how profit margins are distributed amoung channel members,
manufacturers believe whole/retail are not giving products adequate attention

51
Q

Occurs between intermediaries at the same level in a marketing channel (target vs target)

A

horizontal conflict

52
Q

What are two types of horizontal conflict

A

increasing distribution size

Dual distrubution causing different types of retailers to carry product (Goodyear vs sams)

53
Q

A channel member that coordinates, directs, and supports other channel members

A

channel captains

54
Q

Those activities that focs on getting the right amount of the right products to the right place a the right time at the lowest possible cost

A

logistics

55
Q

The various firms involved in performing th eactiviies required to create and deliver a product or service to consumers or industrial users

A

supply chain

56
Q

A __________ is essentially a sequence of linked suppliers and customers in which every customer is, in turn, a supplier to another customer until a finished product reaches the final consumer.

A

supply chain

57
Q

the integration and organization of information and logistics activities accross firmsin a supply chain for the purpose of creating and delivering products services that provide value to consumers

A

supply chain management

58
Q

What are the three steps to aligning a supply chain with marketing strategy

A

understand the customer
understand the supply chain
harmonize the supply chain with the marketing strategy

59
Q

Expenses associated with transportation, materials handling, and warehousing, inventory, stockouts, order processing, and return products handling

A

total logistics costs

60
Q

The ability of logistics management to satisfy users in terms of time, dependability, communication, and convenience

A

customer service

61
Q

the time between the ordering of an item and when it is received

A

order cycle/replenishment time

62
Q

the time between the ordering of an item and when it is received

A

order cycle/replenishment time

63
Q

quick response and efficient consumer response delivery systems

A

meh

64
Q

An inventory management system whereby the supplier determines the product amount and assortment a customer (such as a retailer) needs and automatically delivers the appropriate items

A

vendor managed inventory

65
Q

A process of reclaiming recyclable and reusable materials, returns, and reworkds from the point of consumption or use for repair, remanufacturing, redistribution, or disposal

A

reverse logistics

Principles of Marketing Management (7 decks)

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