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marketing channels Flashcards

1
Q

Marketing Channel

A

sets of interdependent organizations participating in the process of making a product or service available for use or consumption.

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2
Q

Merchants

A

(wholesalers/distributors and retailers) buy, take title to, and resell the merchandise.

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3
Q

Agents

A

Agents search for customers and may negotiate on the producer’s behalf but do not take title to the goods.

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4
Q

Facilitators

A

Facilitators assist in the distribution process but neither take title to goods nor negotiate purchases or sales.

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5
Q

Marketing Channels

A

sets of interdependent organizations participating in the process of making a product or service available for use or consumption.
Marketing Channels=Distribution Channels

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6
Q

Channel Functions

A

Physical
Title
Promotion
Ordering
Payment
Information
Negotiation
Finance
Risk taking

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7
Q

Channel Flows

A

Forward flow
Backward flow
Both flows
Reverse-flow

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8
Q

Channel Levels in Consumer Market

A

ábra

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9
Q

Multichannel Marketing

A

occurs when a single firm uses two or more marketing channels to reach customer segments.

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10
Q

Hybrid or Omni-channel Marketing

A

Omni-channel marketing creates a cohesive, integrated shopping experience across a brand’s sales touchpoints — including brick-and-mortar locations, events, mobile devices, and online stores.

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11
Q

Push strategy

A

low brand loyalty
choice is made in store
an impulse item

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12
Q

Pull Strategy

A

high brand loyalty
choose beforehand
consumers distinguish brands

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13
Q

Value Networks

A

a system of partnerships and alliances that a firm creates to source, augment, and deliver
its offerings.
It includes :
firm’s suppliers
its suppliers’ suppliers
its immediate
customers and their end customers.

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14
Q

When to make a Channel Design Decisions?

A

Developing a new product or product line
Aiming an existing product at a new market
Making a major change in some other component of the marketing mix
Establishing a new firm

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15
Q

Channel Design Process

A

Analyzing customers’ desired service output level
Establishing objectives
Identifying major channel alternatives
Evaluating the major alternatives

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16
Q

Channel service outputs

A

Lot size
Waiting and delivery time
Spatial convenience
Product Variety
Service backups

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17
Q

what decides objectives?

A

the targeted output level
the larger environment (economic conditions, legal regulations, ect.)

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18
Q

Identifying Channel Alternatives

A

Types of intermediaries
Number of intermediaries
Terms and responsibilities

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19
Q

Types of Distribution based on the number of Intermediaries

1.

A

Exclusive
It occurs when the company limits the number of intermediaries.

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20
Q

Types of Distribution based on the number of Intermediaries

2.

A

Selective
Dolce & Gabbana products can be found in stores like Neiman Marcus but not at JC Penneys or Walmart.

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21
Q

Types of Distribution based on the number of Intermediaries

3.

A

Intensive
When goods or services are placed in as many outlets as possible.

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22
Q

Terms and responsibilities

A

Price policy
Conditions of sale
Distributors’ territorial rights
Mutual services and responsibilities

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23
Q

Retailing

A

includes all the activities in selling goods or services directly to final consumers for personal, nonbusiness use.

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24
Q

Retailer / Retail store

A

any business enterprise whose sales volume comes primarily from retailing.

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25
Types of Retailers
Store Retailers Non-store Retailers Corporate Retail Organizations
26
Levels of Retail service Self-service
basic in discount operations, customers are willing to carry out their own “locate-compare-select” process to save money.
27
Levels of Retail service Self-selection
Customers find their own goods, although they can ask for assistance.
28
Levels of Retail service Limited service
These retailers carry more shopping goods and services such as credit and merchandise-return privileges.
29
Levels of Retail service Full service
Salespeople are ready to assist in every phase of the “locate-compare-select” process
30
Specialty store
Narrow product line. The Body Shop or Yves Rocher
31
Department store
Several product lines (for example: clothing & shoes, home goods and cookware, jewellery). JCPenney, Macy’s
32
Supermarket
Large, low-cost, low-margin, high-volume, self-service store designed to meet total needs for food and household products. Kroger, Safeway.
33
Convenience Store
Small store in residential area, often open 24/7, limited line of high-turnover convenience products plus takeout. 7-Eleven, Circle K.
34
Drug Store
Prescription and pharmacies, health and beauty aids, other personal care, small durable, miscellaneous items. CVS, Walgreens.
35
Discount Store
Standard or specialty merchandise; low-price, low-margin, high-volume stores. Walmart, Kmart.
36
Extreme value / Hard-discount Store
A more restricted merchandise mix than discount stores but at even lower prices. Aldi, Lidl, Dollar General, Family Dollar.
37
Off-price Retailer
Leftover goods, overruns, irregular merchandise sold at less than retail. Factory outlets; independent off-price retailers such as TJ Maxx; warehouse clubs such as Costco.
38
Superstore
Huge selling space, routinly purchased food and household items. Category killer, combination store, hypermarket. Carrefour, Auchan, Tesco.
39
Catalog Showroom
Broad selection of high-markup, fast-moving, brand-name goods sold by catalog at a discount. Customers pick up merchandise at the store. Inside Edge Ski and Bike.
40
major categories of Non-store retailers
Major categories of non-store retailers Direct Selling Direct Marketing Automatic vending Buying services
41
Major types of corporate retail organizations
Corporate chain store Voluntary chain Retailer cooperative Consumer cooperative Franchise organization Merchandising conglomerate
42
Product Assortment
The retailer’s product assortment must match the target market’s shopping expectations in breadth and depth.
43
DPP = direct product profitability
Used to measure a product’s handling costs from the time it reaches the warehouse until a customer buys it in the retail store.
44
Wholesaling
all the activities in selling goods or services to those who buy for resale or business use. Excluding: Manufacturers Farmers
45
Wholesaling characterisstics
pay less attention to promotion, atmosphere, and location larger transactions the government deals with wholesalers and retailers differently in terms of legal regulations and taxes
46
Merchant Wholesalers
Take title to merchandise; Full-service and limited-service jobbers and distributors
47
Full-service Wholesalers
Carry stock, maintain a sales force, offer credit, make deliveries, provide management assistance
48
Limited-service Wholesalers
Limited line of fast-moving goods, truck wholesalers, drop shippers, mail-order wholesalers
49
Broker and Agents
Facilitate buying and selling, earn 2-6% commission on selling price
50
Specialized Wholesalers
Agricultural assemblers, petroleum bulk plants
51
Supply Chain Management
Supply chain management starts before physical distribution and means: strategically procuring the right inputs (raw materials, components, and capital equipment) converting them efficiently into finished products dispatching them to the final destinations
52
Market Logistics
planning the infrastructure to meet demand then implementing and controlling the physical flows of materials and final goods from points of origin to points of use to meet customer requirements at a profit
53
Transportation Factors
Speed Frequency Dependability Capability Availability Traceability Cost
54
Dropshipping
Dropshipping is an order fulfillment method where a business doesn’t keep the products it sells in stock. Instead, the seller purchases inventory as needed from a third party—usually a wholesaler or manufacturer—to fulfill orders.
55
Ecommerce
Ecommerce fulfillment is the entire process of picking, packing, and shipping  products to customers. It includes maintaining inventory, locating products within storage, packaging products, and managing the logistics of delivery.
56
Interactive Marketing =
one to one marketing process that reacts and changes based on the actions of individual customers (mostly online)
57
Interactive Marketing Communication Options
Websites Search ads Display ads (incl. Social media ads) Email Mobile Marketing Word of Mouth Marketing Influencer marketing
58
Paid Ads: Definitions Impressions
The amount of times your ad is seen, 100 impressions means the ad was viewed 100 times
59
Paid Ads: Definitions CPC
Cost Per Click, how much you will pay if someone clicks your ad.
60
Paid Ads: Definitions Click Through Rate
The amount of people who click on the ad devided by the amount of impressions it makes
61
Paid Ads: Definitions SEO
Search Engine Optimization, making sure the content on a page is designed to rank highly in search engine results
62
Buzz Marketing
an event or activity that generates publicity, excitement, and information to the consumer
63
Direct Marketing =
the use of consumer-direct (CD) channels to reach and deliver goods and services to customers without using marketing middlemen
64
Direct Mail
sending an offer, announcement, reminder, or other item to an individual consumer
65
Telemarketing
the use of the telephone and call centers to attract prospects, sell to existing customers, and provide service by taking orders and answering questions inbound = receiving calls from customers outbound = initiating calls
66
Types of sales representatives:
Deliverer Order taker Missionary Technician Demand creator Solution vendor
67
Principles of Personal Selling
Situation questions Problem questions Implication questions Need-payoff questions
68
E-commerce
use of a Website or any other interactive/digital/online channel to transact or facilitate the sale of products and services online
69
Pure-Click Companies
Search engines (Google, Opera, Yandex, Yahoo) Internet service providers (ISPs) Commerce sites Transaction sites (auctions) Content sites (Facebook, Business Insider) Enabler sites
70
Shopping Cart Abandonment=
when a potential customer starts a check out process for an online order but drops out of the process before completing the purchase 5 most common reasons: High and Unexpected Extra Costs Having to Register Long and Confusing Checkout Website Errors/Crashes Payment Security Concerns
71
M-Commerce Marketing
enables users to access online shopping platforms without needing to use a desktop computer
72
Selecting Channel Members If Intermediaries = Agents, the followings matter:
Number and character of other lines carried and the size and quality of the sales force
73
Selecting Channel Members If Intermediaries = Department stores, the followings matter:
Locations Future growth potential Type of clientele
74
Channel Power
ability to alter channel members’ behavior so they take actions they would not have taken otherwise.
75
Channel power types
Coercive Power by threats Reward Power by extra benefits Legitimate Power by contract Expert Power by having valued special knowledge Referent Power by being respected among intermediaries
76
Evaluating Channel Members
salesquota attainment average inventory levels customer delivery time treatment of damaged and lost goods cooperation in promotional and training programs
77
Vertical Marketing System types
Corporate VMS Administered VMS Contractual VMS: 1Wholesaler-sponsored voluntary chains 2Retailer cooperatives 3Franchise organizations
78
Channel conflict
is generated when one channel member’s actions prevent another channel from achieving its goal.
79
Horizontal channel conflict
occurs between channel members at the same level. (e.g. conflicts between franchisees)
80
Vertical channel conflict
occurs between different levels of the channel
81
Multichannel conflict
exists when the manufacturer has established two or more channels that sell to the same market
82
Causes of Channel Conflict
Goal incompatibility Unclear roles and rights Differences in perception Intermediaries’ dependence on the manufacturer

marketing channels (1 decks)

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