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Business > Chapter 14: Wholesaling, Retailing, and Physical Distribution > Flashcards

Chapter 14: Wholesaling, Retailing, and Physical Distribution Flashcards

1
Q

Ch 14

catalog marketing

A

a type of marketing in which an organization provides a catalog from which customers make selections and place orders by mail, telephone, or internet

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1
Q

Ch 14

neighborhood shopping center

A

a planned shopping center consisting of several small convenience and specialty stores

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1
Q

Ch 14

agent

A

a middleman that expedites exchanges, represents a buyer or a seller, and often is hired permanently on a commission basis

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1
Q

Ch 14

vertical marketing system (VMS)

A

a centrally managed distribution channel resulting from vertical channel integration

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1
Q

Ch 14

administered VMS

A

type of VMS where one of the channel members dominates the other members; channel members collaborate of production and distribution; control rests with individual channel members

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1
Q

Ch 14

corporate VMS

A

type of VMS where production and distribution are joined by actual ownership

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1
Q

Ch 14

carrier

A

a firm that offers transportation services

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1
Q

Ch 14

limited-line wholesaler

A

a middleman that stocks only a few product lines but carries numerous product items within each line

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1
Q

Ch 14

department store

A

a retail store that 1) employs 25 or more persons and 2) sells at least home furnishings, appliances, family apparel, and household linens and dry goods, each in a different part of the store

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1
Q

Ch 14

full-service wholesaler

A

a middleman that performs the entire range of wholesaler functions

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1
Q

Ch 14

traditional specialty store

A

a store that carries a narrow product mix with deep product lines

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1
Q

Ch 14

functional middleman

A

a middleman that helps in the transfer of ownership of products but does not take title to the products

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1
Q

Ch 14

direct channel

A

channel of distribution without marketing intermediaries

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1
Q

Ch 14

warehousing

A

the set of activities involved in receiving and storing goods and preparing them for reshipment

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4
Q

Ch 14

direct-response marketing

A

a type of marketing in which a seller advertises a product and makes it available, usually for a short time period, through mail, telephone, or online orders

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5
Q

Ch 14

commission merchant

A

a middleman that carries merchandise and negotiates sales or manufacturers

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7
Q

Ch 14

warehouse club

A

a large-scale members-only establishment that combines features of cash-and-carry wholesaling with discount retailing

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7
Q

Ch 14

manufacturer’s sales branch

A

essentially a merchant wholesaler that is owned by a manufacturer

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8
Q

Ch 14

order processing

A

activities involved in receiving and filling customers’ purchase orders

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9
Q

Ch 14

television home shopping

A

a form of selling in which products are presented to television viewers, who can buy them by calling a toll-free number and paying with a credit card

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11
Q

Ch 14

transportation

A

the shipment of products to customers

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12
Q

Ch 14

Category management

A

A phenomenon that is becoming common for mass merchandisers, supermarkets, and convenience stores where the retailer ask a supplier how to stock the shelves; retailers and suppliers claim this process delivers maximum efficiency

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13
Q

Ch 14

exclusive distribution

A

the use of only a single retail outlet for a product in a large geographic area

14
Q

Ch 14

materials handling

A

the actual physical handling of goods, in warehouses as well as during transportation

15
Q

Ch 14

chain retailer

A

a company that operates more than one retail outlet

16
Q

Ch 14

regional shopping center

A

a planned shopping center containing large department stores, numerous specialty stores, restaurants, movie theaters, and sometimes even hotels

17
Q

Ch 14

manufacturer’s sales office

A

essentially a sales agent owned by a manufacturer

18
Q

Ch 14

supply-chain management

A

long-term partnership among channel members working together to create a distribution system that reduces inefficiencies, costs, and redundancies while creating a competitive advantage and satisfying customers

20
Q

Ch 14

warehouse showroom

A

a retail facility in a large, low-cost building with a large on-premises inventory and minimal service

21
Q

Ch 14

broker

A

a middleman that specializes in a particular commodity, represents either a buyer or a seller, and is likely to be hired on a temporary basis

23
Q

Ch 14

discount store

A

a self-service general-merchandise outlet that sells products at lower-than-usual prices

24
Q

Ch 14

traditional channel

A

channel where products go from the producer to wholesaler to retailer to consumer

25
Q

Ch 14

retailer

A

a middleman that buys from producers or other middlemen and sells to consumers

26
Q

Ch 14

inventory management

A

the process of managing inventories in such a way as to minimize inventory costs, including both holding costs and potential stock-out costs

27
Q

Ch 14

selective distribution

A

the use of only a portion of the available outlets for a product in each geographic area

29
Q

Ch 14

community shopping center

A

a planned shopping center that includes one or two department stores and some specialty stores, along with convenience stores

31
Q

Ch 14

convenience store

A

a large self-service store that sells primarily food and household products

32
Q

Ch 14

automatic vending

A

the use of machines to dispense products

34
Q

Ch 14

specialty-line wholesaler

A

a middleman that carries a select group of products within a single line

35
Q

Ch 14

lifestyle shopping center

A

an open-air-environment shopping center with upscale chain specialty stores

36
Q

Ch 14

direct selling

A

the marketing of products to customers through face-to-face sales presentations at home or in the workplace

37
Q

Ch 14

superstore

A

a large retail store that carries not only food and nonfood products ordinarily found in supermarkets but also additional product lines

38
Q

Ch 14

intensive distribution

A

the use of all available outlets for products

40
Q

Ch 14

off-price retailer

A

a store that buys manufacturers’ seconds, overruns, returns, and off-season merchandise for resale to consumers at deep discounts

42
Q

Ch 14

nonstore retailing

A

a type of retailing whereby consumers purchase products without visiting a store

43
Q

Ch 14

contractual VMS

A

type of VMS where contracts or other legal measures define cooperative arrangements and the rights and obligations of channel members

45
Q

Ch 14

independent retailer

A

a firm that operates only one retail outlet

46
Q

Ch 14

catalog showroom

A

a retail outlet that displays well-known brands and sells them at discount prices through catalogs within the store

48
Q

Ch 14

telemarketing

A

the performance of marketing-related activities by telephone

49
Q

Ch 14

physical distribution

A

all the activities concerned with the efficient movement of products from the producer to the ultimate user

50
Q

Ch 14

online retailing

A

retailing that makes products available to buyers through computer connections

52
Q

Ch 14

direct marketing

A

the use the telephone, internet, and nonpersonal media to introduce products to customers, who can then purchase them via mail, telephone, or internet

53
Q

Ch 14

vertical channel integration

A

the combining of two or more stages of a distribution channel under a single firm’s management

54
Q

Ch 14

category killer

A

a very large specialty store that concentrates on a single product line and competes on the basis of low prices and product availability

55
Q

Ch 14

wholesaler

A

a middleman that sells products to other firms

56
Q

Ch 14

merchant middleman

A

a middleman that actually takes title to products by buying them

Business (4 decks)

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