L22 retailing and wholesaling

Question 1

what are the types of marketing channels

Answer 1

• direct
• 3 indirect

Question 2

what is a direct marketing channel

Answer 2

means the producer and the ultimate consumers deal directly with eachother

Question 3

what is an organisational buyer

Answer 3

those manufacturers wholesalers retailers service companies NFP orgs. and govt. agencies that buy products and services for their ow use or for resale

Question 4

what are the 4 markets organisational buying is divided into

Answer 4

-industrial
-reseller
-government
-non-profit

Question 5

what are the 2 industrial markets

Answer 5

• industrial firms; companies that primarily sell physical goods
  -service companies; service markets sell services
• both reprocess= product or service they buy before selling it again to the next buyer

Question 6

what are reseller markets

Answer 6

wholesale and retailers that buy physical products or services and resell them again at a profit without any reprocessing

Question 7

what are government markets

Answer 7

govt. agencies that buy products and services for use in the production of public goods and services

Question 8

what are non-profit markets

Answer 8

buy products/services for use in the production of public goods/services

Question 8

what are the market characteristics of organisational buying

Answer 8

• derived based on demand
• large Sie of the order or purchase
• limited number of potential buyers

Question 9

what are product/service characteristics of organisational buying

Answer 9

• techical specifications
• may be raw/unfinished
• high level of service and post sale support

Question 10

what are buying process characteristics

Answer 10

-technically qualified and professional buyers
- multiple parties involved
- buying criteria are spelled out
- negotiation between the buyer and sellers
-delivery schedules

Question 11

what are the marketing mix characteristics

Answer 11

• direct selling to organisational buyers is the rule and distribution is very important
• advertising and other forms of promotion are technical
• price is negotiated
• frequently affected by quality discounts

Question 12

what is the buying centre

Answer 12

the group of people in an org. who are responsible for facilitating the selection and purchase of products and services

Question 13

what are the 5 roles that a individual in a buying centre can play

Answer 13

1. users; actually use the product
2. buyers; have formal authority to negotiate with the seller
3. influences; help define specifications for what is bought
4. gatekeepers; control the flow of information
5. deciders; have the formal power to approve contracts

Question 14

what are the type of buying decisions

Answer 14

• new buy; greater risks as first time buyer, higher level of info is required and buying centre is larger
• modified buy; modification from a previous order, more competitive among suppliers, moderate level of info required
• straight buy; reordering an existing product, familiar suppliers, little info required

Question 15

how does retailing create value through the 4 utilities

Answer 15

time
place
form
possession

Question 15

what is retailing

Answer 15

includes all activities involved in selling, renting, and providing products and services to ultimate consumers

Question 16

what re the levels of service in retailing

Answer 16

self service
limited service
full service

Question 17

what are the types of retailers

Answer 17

independent retailer- owned by individual
corporate chain- multiple outlets under common ownership

Question 18

what are the components of the retail mix

Answer 18

retail pricing
store location
retail communication
merchandise