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BUAD 116 > Chapter 8 - Using Marketing Channels to Create Value for Customers > Flashcards

Chapter 8 - Using Marketing Channels to Create Value for Customers Flashcards

1
Q

What are ‘Channel Members’?

A

Firms a company partners with to actively promote and sell a product as it travels through its marketing channel to users are referred to by the firm

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2
Q

What are ‘Intermediaries’?

A

Organizations that products and services pass through before they getting to the consumer

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3
Q

What are the 4 forms of utility/value that channels offer?

A
  • Time
  • Form
  • Place
  • Ownership
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4
Q

What is ‘Supply Chain’?

A

All the organizations that figure into any part of the process of producing, promoting, and delivering an offering to its user

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5
Q

What is ‘Supply Chain Management’?

A

The process of firms constantly monitoring their supply chains and tinkering with them so they’re as efficient as possible

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6
Q

What are the types of channel partners?

A
  • Wholesalers

- Retailers

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7
Q

What are ‘Wholesalers’?

A

They resell goods “whole” to other companies without transforming the goods

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8
Q

What are the 3 types of Wholesalers?

A
  • Merchant Wholesalers
  • Brokers
  • Manufacturers Agents
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9
Q

What are some types of limited-service wholesalers?

A
  • Cash-and-carry
  • Drop shippers
  • Mail-order
  • Truck Jobbers
  • Rack Jobbers
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10
Q

What type of wholesaler takes title to the goods?

A

Merchant Wholesalers

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11
Q

What type of wholesaler doesn’t take title to the products they sell?

A

Brokers

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12
Q

What do Brokers do?

A

Negotiates sales contracts for producers

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13
Q

What do Manufacturer Agents do?

A

Sell units that work directly for manufacturers

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14
Q

What are the types of retailers?

A
  • Supermarkets
  • Drugstores
  • Convenience Stores
  • Specialty Stores
  • Department Stores
  • Warehouse Clubs
  • Off-price Retailers
  • Outlet Stores
  • Online Retailers
  • Used Retailers
  • Pop-up Store
  • Non-store Retailing
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15
Q

What are ‘Category Killers’?

A

Companies that sell a high volume of a particular type of product and dominates the competitions (EX. Best Buy for the electronics market)

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16
Q

What are ‘Direct Marketing’?

A

Companies urge consumers to contact their firms directly to buy products

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17
Q

What is ‘Direct Channel’?

A

A channel consisting of just two parties—a producer and a consumer

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18
Q

What is ‘Indirect Channel’?

A

A channel that includes one or more intermediaries

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19
Q

What are ‘Industrial Distributors’?

A

Firms that supply products that businesses or government departments and agencies use but don’t resell

20
Q

What is ‘Disintermediation’?

A

When you cut intermediaries out of the deal

21
Q

What are the ways of entering foreign markets?

A
  • Acquiring part or all of a foreign company
  • Joint Ventures
  • Export your products
  • Franchising
22
Q

What is a push strategy?

A

A manufacturer convinces wholesalers, distributors or retailers to sell its products

23
Q

What is the problem with a push strategy?

A

It doesn’t focus on the needs of the actual users of the products

24
Q

What is a pull strategy?

A

Focuses on creating demand for a product among consumers so that businesses agree to sell the product

25
Q

What are the activities organizations in a marketing channel are responsible for?

A
  • Disseminate Marketing Communications and Promote Brands
  • Sorting and Regrouping Products
  • Storing and Managing Inventory
  • Distributing Products
  • Assume Ownership Risk and Extend Credit
  • Share Marketing and Other Information
26
Q

What is a ‘free on board (FOB) provision’?

A

A provision that designates who is responsible for what shipping costs and who owns the title to the goods and when

27
Q

What is a nondisclosure agreement (NDA)?

A

a contract that specifies what information is proprietary, or owned by the partner, and how, if at all, the partner can use that information

28
Q

What are the factors that affect a firm’s channel decisions?

A
  • Channel Selection Factors
  • Type of Customer
  • Type of Product
  • Channel Partner Capabilities
  • The Business Environment and Technology
  • Competing Products’ Marketing Channels
29
Q

What are the factors that Affect a Products Intensity of Distribution?

A
  • Intensive Distribution Strategy
  • Selective Distribution
  • Exclusive Distribution
30
Q

What is ‘Intensive Distribution Strategy’

A

Involves selling products in as many outlets as possible

31
Q

What is ‘Selective Distribution’?

A

Involves selling products at select outlets in specific locations

32
Q

What is ‘Exclusive Distribution’?

A

Involves selling products through one or very few outlets

33
Q

What is a ‘Grey Market’?

A

A market in which a producer hasn’t authorized its products to be sold

34
Q

What is ‘Channel Power’?

A

Ability of a particular channel member to control or influence the decision making and behavior of another channel member

35
Q

What is ‘Channel Leaders’?

A

Strong channel partners

36
Q

What is ‘Channe Conflict’

A

A dispute among channel members

37
Q

What are ‘Store Brands’?

A

Products retailers produce themselves or pay manufacturers to produce for them

38
Q

What is ‘Vertical Conflict’?

A

Conflict that occurs between two different types of members in a channel

39
Q

What is ‘Horizontal Conflict’?

A

Conflict that occurs between organizations of the same type

40
Q

What is ‘Dumping’?

A

The practice of selling a large quantity of goods at a price too low to be economically justifiable in another country

41
Q

What is a ‘Vertical Marketing System’?

A

Channel members formally agree to closely cooperate with one another

42
Q

What is a ‘Vertical Integration?

A

When one channel member takes over the functions of another member

43
Q

What is a ‘Backward Integration?

A

When a company moves upstream in the supply chain

44
Q

What is a ‘Horizontal Marketing System’?

A

Two companies at the same channel level agree to cooperate with another to sell their products or to make the most of their marketing opportunities

45
Q

What is a ‘Conventional Marketing System’?

A

Channel members have no affiliation with one another

46
Q

What is a ‘resale price maintenance agreement’?

A

An agreement whereby a producer of a product restricts the price a retailer can charge for it

BUAD 116 (9 decks)

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