Chapter 14 Flashcards
Marketing channel
Individuals and firms involved in the process of making a product or service available for use or consumption by consumers or industrial users
Direct channel
A marketing channel where a producer and ultimate consumers dal directly with each other
Indirect channels
Marketing channels where intermediaries are inserted between the producer and consumers and perform numerous channel functions
Business distributor
Performs a variety of marketing chanell functions including selling, stocking, delivering a full product assortment , and financing for business goods and services
Internet 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
Sometimes called omnichannel marketing, the blending of different communication and delivery channels that are mutually reinforcing in attracting retaining and building relationships with consumers who shop and buy from traditional intermediaries and online
Strategic channel alliances
A practice whereby one firm’s marketing channel is used to sell another firm’s products
Merchant wholesalers
Independently owned firms that take title to the merchandise they handle
Manufacturers, agent
work for several producers and carry non-competitive complementary merchandise in an exclusive territory; also called manufacturer’s representatives
Selling agents
Represent a single producer and are responsible for the entire marketing function of that producer
Brokers
independent firms or individuals whose principal function is to bring buyers and seller together to make sales
Vertical marketing systems
Professionally managed and centrally coordinated marketing channels designed to achieve channel economies and maximum marketing impact
Franchising
Contractual arrangement between a parent company and an individual or firm that allows the franchise to operate a certain type of business under an established name and according to specific rules
Channel Conflict
Arises when one channel member believes another channel member is engaged in behaviour that prevents it from achieving its goals
Disintermediation
Channel conflict that arises when a channel member bypasses another member and sells or buys products direct
Supply Chain
A sequence of firms that perform activities required to create and deliver a good or service to consumers or industrial users
Supply Chain management
The integration and organization of info and logistics activities across firms in a supply chain for the purpose of creating and delivering goods and services that provide value to customers
logistics management
The practice of organizing the cost-effective flow of raw materials, in-process inventory, finished goods, and related information from point of origin to point of consumption to satisfy consumer requirements
Total logistics cost
Expenses associated with transportation, materials handling and warehousing, inventory, stock-outs, order processing, and return goods handling
Customer service
The ability of logistics management to satisfy users in terms of time, dependability communication and convenience
Materials handling
Moving goods over short distances into, within and out of warehouses and manufacturing plants
Just in time concept
An inventory supply system that operates with very low inventories and requires fast on time delivery
vendor-managed inventory
An inventory management system whereby the supplier determines the product amount and assortment a customer needs and automatically delivers the appropriate items
