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Intro to Marketing > Chapter 15 > Flashcards

Chapter 15 Flashcards

1
Q

Supply chain

A

All the activities necessary to turn raw materials into a good or service and put it in the hands of the consumer or business customer

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2
Q

Supply chain management

A

The management of flows among firms in the supply chain to maximize total profiatbility

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3
Q

Insourcing

A

A practice in which a company with a specialist firm to handle all or part of its supply chain operations

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4
Q

Channel distribution

A

The series of firms or individuals that facilitates the movement of a product from the producer to the final customer

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5
Q

Channel intermediaries

A

Firms or individuals such as wholesalers, agents, brokers, or retailers who help move a product from the producer to the consumer or business user. An older term for intermediaries is middlemen

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6
Q

Breaking bulk

A

Dividing larger quantities of goods into smaller lots in order to meet the needs of buyers

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7
Q

Creating assortments

A

Providing a variety of products in one location to meet the needs of buyers

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8
Q

Facilitating functions

A

Functions of channel intermediaries that make the purchase process easier for customers and manufacturers

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9
Q

Disintermediation (of the channel of distribution)

A

The elimination of some layers of the channel of distribution in order to cut costs and improve the efficiency of the channel

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10
Q

Knowledge management

A

A comprehensive approach to collecting, organizing, storing, and retrieving a firm’s information assets.

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11
Q

Online distribution piracy

A

The theft and unauthorized repurposing of intellectual property via the Internet

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12
Q

Wholesaling Intermediaries

A

Firms that handle the flow of products from the manufacturer to the retailer or business user

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13
Q

Independent intermediaries

A

Channel intermediaries that are not controlled by any manufacturers but instead do business with many different manufacturers and many different customers

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14
Q

Take title

A

To accept legal ownership of a product and assume the accompanying rights and responsibilities of ownership

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15
Q

Full service wholesalers

A

________________ provide a wide range of services for their customers, including delivery, credit, product-use assistance, repairs, advertising, and other promotional support–even market research. They often have their own sales force to call on businesses and organizational customers. Some general merchandiser wholesalers carry a large variety of different items, whereas specialty wholesalers carry an extensive assortment of a single product line.

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16
Q

Limited-service merchant wholesalers

A

In contrast, _______ provide fewer services for their customers. They also take title to merchandise but are less likely to provide services such as delivery, credit, or marketing assistance to retailers

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17
Q

Cash-and-carry wholesalers

A

__________ provide low-cost merchandise for retailers and industrial customers that are too small for other wholesalers’ sales representatives to call on.

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18
Q

Truck jobbers

A

________________ carry their products to small business customer locations for their inspection and selection, They often supply perishable items.

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19
Q

Drop shippers

A

_______ are limited-function wholesalers that take title to the merchandise but never actually take possession of it. They take orders from and bill retailers and industrial buyers, but the merchandise is shipped directly from the manufacturer.

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20
Q

Mail order wholesalers

A

___________ sell products to small retailers and other industrial customers, often located in remote areas, through catalogs rather than a sales force. They usually carry products in inventory and require payment in cash or by credit card before shipment

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21
Q

Rack jobbers

A

________ supply retailers with specialty items such as health and beauty products and magazines. They get their name because they own and maintain the product display racks in grocery stors, drugstores, and variety stores.

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22
Q

Merchandise agents or Brokers

A

Channel intermediaries that provide services in exchange for commissions but never take title to the product

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23
Q

Manufacturers’ agents, or manufacturers’ reps

A

____________ or ________ are independent salespeople who carry several lines of noncompeting products. They have contractual arrangements with manufacturers that outline territories, selling prices, and other specific aspects of the relationship but provide little if any supervision. Manufacturers normally compensate agents with commission based on a percentage of what they sell.

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24
Q

Selling agents, export/import agents

A

_________, including ___________, market a whole product line or one manufacturer’s total output. They often work like an independent marketing department because they perform the same functions as full-service wholesalers but do not take title to products. Unlike manufacturer’s agents, selling agents have unlimited territories and control the pricing, promotion, and distribution of their products

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25
Q

Commission merchants

A

_________ are sales agents who receive goods, primarily agricultural products such as grain or livestock, on consignment–that is, they take possession of products without taking title. Although sellers may state a minimum price they are willing to take for their products, commission merchants are free to sell the product for the highest price they can get. Commission merchants receive a commission on the sales price of the product

26
Q

Merchandise brokers

A

______________, including export/import brokers, are intermediaries that facilitate transactions in markets such as real estate, food, and used equipment, in which there are lots of small buyers and sellers. Brokers identify likely buyers and sellers and bring the two together in return for a fee they receive when the transaction is completed.

27
Q

Sales branches

A

____________ are manufacturer-owned facilities that, like independent wholesalers, carry inventory and provide sales and service to customers in specific geographic area. We find sales branches in industries such as petroleum products, industrial machinery and equipment, and motor vehicles

28
Q

Sales offices

A

____________ are manufacturer-owned facilities that, like agents, do not carry inventory but provide selling functions for the manufacturer in a specific geographic area. Because they allow members of the sales force to locate close to customers, they reduce selling costs and provide better customer service.

29
Q

Manufacturer’s showrooms

A

_________ are manufacturer-owned or leased facilities in which products are permanently displayed for customers to visit. Merchandise marts are often multiple buildings in which one or more industries hold trade shows and many manufacturers have permanent showrooms. Retailers can visit either a show or all year long to see the manufacturer’s merchandise and make business-to-business purchases.

30
Q

Channel levels

A

The number of distinct categories of intermediaries that populate a channel of distribution.

31
Q

Hybrid marketing system

A

A marketing system that uses a number of different channels and communication methods ti serve a target market

32
Q

Slotting allowance

A

A fee paid in exchange for agreeing to place a manufacturer’s products on a retailer’s valuable shelf space

33
Q

Develop Distribution Objectives

A

The first step in distribution planning

34
Q

Evaluate Internal and External Environmental Influences

A

The second step in distribution planning

35
Q

Choose a distribution strategy

A

The third step in distribution planning

36
Q

Develop distribution tactics

A

The fourth step in distribution planning

37
Q

Conventional marketing system

A

A multiple-level distribution channel in which channel members work independently of one another

38
Q

Vertical Marketing System

A

A channel of distribution in which there is formal cooperation among members at the manufacturing, wholesaling, and reailing levels

39
Q

Administered VMS

A

In an ________, channel members remain independent but voluntarily work together because of the power of a single channel member. Strong brands are able to manage this because VMS resellers are eager to work with the manufacturer so they will be allowed to carry the product

40
Q

Corporate VMS

A

In _________, a single firm owns manufacturing, wholesaling, and retailing operations. Thus, the firm has complete control over all channel operations.

41
Q

Contractual VMS

A

In a __________, cooperation is enforced by contracts (legal agreements) that spell out each member’s rights and responsibilities and how they will cooperate. This arrangement means that the channel members can have more impact as a group than they could alone.

42
Q

Selective distribution

A

Distribution using fewer outlets than intensive distribution but more than exclusive distribution.

43
Q

Channel Leader

A

A firm at one level distribution that takes a leadership role, establishing operating norms and processes based on its power relative to other channels

44
Q

Logistics

A

The process of designing, managing, and improving the movement of products through the supply chain. It includes purchasing, manufacturing, storage, and transport.

45
Q

Physical distribution

A

The activities that move finished goods from manufacturers to final customers, including order processing, warehousing, materials handling, transportation, and inventory control.

46
Q

Order Processing

A

The series of activities that occurs between the time an order comes into the organization and the time a product goes out the door

47
Q

Enterprise Resource Planning (ERP) systems

A

A software system that integrate information from across the entire company, including finance, order fulfillment, manufacturing, and transportation and then facilities sharing of the data throughout the firm

48
Q

Warehousing

A

Storing goods in anticipation of sale or transfer to another member of the channel of distribution

49
Q

Materials handling

A

The moving of products into, within, and out of warehouses

50
Q

Transportatoin

A

The mode by which products move among channel members

51
Q

Dependability

A

The ability of the carrier to deliver goods safely and on time

52
Q

Cost

A

The total transportation costs to move a product from one location to another, including any charges for loading, unloading, and in-transit storage

53
Q

Speed of delivery

A

The total time to move a product from one location to another, including loading and unloading

54
Q

Accessibility

A

The number of different locations the carrier serves

55
Q

Capability

A

The ability of the carrier to handle a variety of different products such as large or small, fragile, or bulky

56
Q

Traceability

A

The ability of the carrier to locate goods in shipment

57
Q

Inventory control

A

Activities to ensure that goods are always available to meet customers’ demands

58
Q

Radio Frequency Identification (RFID)

A

Product tags with tiny chips containing information about the item’s content, origin, and destination

59
Q

Just in time (JIT)

A

Inventory management and purchasing processes that manufacturers and resellers use to reduce inventory to very low levels and ensure that deliveries from suppliers arrive only when needed

60
Q

Perfect order measurement

A

A supply chain metric that tracks multiple steps in getting a product from a manufacturer to a customer

Intro to Marketing (4 decks)

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