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PHME MIDTERMS > M8 > Flashcards

M8 Flashcards

1
Q

set of activities and decision ensuring right products to right customers in right time and price at right place in a right manner

A

Place Mix

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2
Q

moves drug products and related goods from the drug manufacturer to the final end user

A

Distribution channel

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3
Q

includes all the activities associated with the supply of finished products at every step, from the production line to the consumers

A

Physical distribution

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4
Q

include customer service, order processing, inventory control, transportation and logistics, and packaging and materials

A

Physical distribution

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5
Q

means distribution channels and physical distribution

A

Place

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6
Q

It is a very vital element of the total marketing mix that ensures the adequate availability and visibility of the right products.

A

Place

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7
Q

The last element of the marketing mix

A

Place mix

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8
Q

this is the process and methods used to bring the product or service to the consumer

A

Place Mix

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9
Q

Place mix is also known as

A

placement or distribution

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10
Q

process of moving products from the producer to the intended user

A

Place

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11
Q

This refers to the set of pharmaceutical firms and individuals that take title or assist in transferring title to a drug product or service as it moves from the drug manufacturer to the final consumer.

A

Pharmaceutical Distribution Channel

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12
Q

the route along which the right pharmaceutical products flow from the drug manufacturer’s production to final consumption

A

Distribution channel

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13
Q

The customers or end-users in the pharmaceutical industry basically want drug products that satisfy the following criteria:

A

○ Right standards and quality
○ Right specifications
○ Right commercial stocks levels at all times
○ Right savings
○ Right service warranties

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14
Q

Five Basic Channel Decision

A

◉ Do we use direct or indirect channels?
◉ Single or multiple channels
◉ Cumulative length of the multiple channels
◉ Types of intermediary
◉ Number of intermediaries at each level

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15
Q

Consists of a drug manufacturer selling directly to the Department of Health (DOH) or government Health Units and Hospitals who will in turn make the medicines available to the end-users practically for free.

A

Channel 1

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16
Q

Contains two middlemen level. A representative sales of a drug manufacturer selling to dispensing physicians who in turn sells the medicines to the patients (end-users) charging the latter consultation fees and medicines given.

A

Channel 2

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17
Q

Contains only one middlemen level, either an independent distributor or retailer, who in turn sells the drug products to end-users.

A

Channel 3

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18
Q

Contains two middlemen level, namely the wholesaler and retailer drugstore outlets who in turn sell to the end-users.

A

Channel 4

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19
Q

Contains three middlemen level, reflecting jobbers who sell to the smaller retailers who generally are not served by the large wholesaler drugstores.

A

Channel 5

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20
Q

Channels 2 and 4 contain how many middlemen?

A

2

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21
Q

Channel 3 contains how many middlemen?

A

1

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22
Q

Channel 3 contains how many middlemen?

A

1

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23
Q

Channel 5 contains how many middlemen?

A

3

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24
Q

Channel 1 contains how many middlemen?

A

None (0)

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25
Q

Channels of Distribution (Middlemen)

A
  1. Wholesaler
  2. Retailers
  3. Jobbers
  4. Manufacturer’s Representatives
  5. Manufacturers Branches and Franchises
  6. Distributors and Dealers
  7. Dispensing Physician
    8.,Department of Health
  8. Industrial Clinics NGO
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26
Q

Three strategies:

A
  1. Intensive Distribution
  2. Exclusive Distribution
  3. Selective Distribution
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27
Q

where drug companies stock up their product lines in as many sales outlet as possible, in both the traditional and non-traditional market

A

Intensive Distribution

28
Q

where the drug manufacturer requires the sales outlets such as hospitals and industrial clinics not to carry competing lines in exchange for higher discounts, promotion support and other service amenities

A

Exclusive Distribution

29
Q

where the drug manufacturer does not have to spread its efforts over many sales outlets in order to develop long-lasting working relationships fast. Many small and medium-sized drug companies prefer selective middlemen.

A

Selective Distribution

30
Q

In this channel, the manufacturer directly provides the product to the consumer.

A

Direct

31
Q

In this instance, the business may own all elements of its distribution channel or sell through a specific retail location.

A

Direct

32
Q

In this channel, a company will use an intermediary to sell a product to the consumer.

A

Indirect

33
Q

The company may sell to a wholesaler who further distributes to retail outlets.

A

Indirect

34
Q

This channel may become necessary for large producers who sell through hundreds of small retailers.

A

Indirect

35
Q

ways to sell directly to the consumer

A

Internet sales and one-on-one meetings

36
Q

In this type of channel, a company may use a combination of direct and indirect selling.

A

Dual Distribution

37
Q

The product may be sold directly to a consumer, while in other cases it may be sold through intermediaries

A

Dual Distribution

38
Q

This type of channel may help reach more consumers but there may be the danger of channel conflict.

A

Dual Distribution

39
Q

most non tradition channel allows for the consumer to send a product to the producer

A

Reverse Channels

40
Q

An example of this is when a consumer recycles and makes money from this activity.

A

Reverse Channels

41
Q

Possible channel drawbacks and conflicts

A

◉ Lost Revenue
◉ Lost Communication Control
◉ Lost Product Importance

42
Q

middlemen who play a crucial role in the distribution process

A

Distribution channel intermediaries

43
Q

There are four main types of intermediaries

A

Agents, Wholesalers, Distributors, Retailers

44
Q

an independent entity who acts as an extension of the producer by representing them to the user

A

Agent

45
Q

never actually gains ownership of the product and usually make money from commissions and fees paid for their services

A

Agent

46
Q

are also independent entities, but they actually purchase goods from a producer in bulk and store them in warehouses

A

Wholesalers

47
Q

may have a close relationship with the producer

A

Distributor

48
Q

only carry products from a single brand or company

A

Distributors

49
Q

carry a variety of competition brands and product types

A

Wholesalers

50
Q

stock the goods and sell them to the ultimate end user at a profit

A

Retailers

51
Q

Drug companies, when selecting channel members, strongly consider the ff:

A
  1. Profile of middlemen
  2. Product lines carried
  3. Overall reputation and image of drug company
  4. Track Record
  5. Future growth potential
  6. Store’s customers and locations
52
Q

In many ways, drug companies provide monetary and non-monetary incentive rewards such as:

A
  1. Product deals
  2. Higher discounts
  3. Liberal credit terms
  4. Display allowances
  5. Cooperative advertising allowances
  6. Sales promo contests
  7. Pin money and rebates
  8. Priority in stock deliveries and allocation of new products
  9. Sales training
  10. Free travel and hotel accommodations
  11. Personalized services
53
Q

Physical Distribution System

A

-Order Processing
-Warehousing
-Inventory
-Transportation

54
Q

receive, identify, and sort merchandise such as drugs, cosmetics, skin care lines, and toiletries

A

Warehouses

55
Q

owned and operated by the company which stores and distributes their own drug products

A

Private Warehouses

56
Q

provide storage and related physical distribution services to any interested individual or firm on a rental basis

A

Public Warehouses

57
Q

In the former, imported or taxable merchandise is stored and can be released for sale after the appropriate taxes are paid.

A

Bonded Warehousing

58
Q

Mortgage arrangement in which a lender secures its loan with lien on items stored in a warehouse. Access to these items is controlled by the lender who releases goods as they are paid for by the borrower.

A

Field Warehousing

59
Q

Two major concerns

A

○ When to order
○ How much to order

60
Q

There are four aspects of Inventory Management

A
  1. Stock turnovers
  2. When to order
  3. How much to order
  4. Warehousing
61
Q

The balance between sales and inventory on hand.

A

Stock turnovers

62
Q

period from the date a sales order is placed until the date goods are ready for sales

A

Order Lead Time

63
Q

average sales in units per day

A

Usage rates

64
Q

extra merchandise kept on hand to protect against out of stock

A

Safety stocks

65
Q

(Order Lead Time x usage rate) + Safety stock

A

REORDER POINT

66
Q

Four transportation Modes

A

○ Railroads
○ Motor Carries
○ Waterways
○ Airways

67
Q

It is a very vital element of the total marketing mix that ensures the adequate availability and visibility of the right products in the right target market.

A

Place

PHME MIDTERMS (5 decks)

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