Vocabulary unit 6 Flashcards
Supply Chain Management
The coordination of manufacturers, suppliers, and retailers working together to meet a customer need for a product or service.
Distribution
An important component of supply chain management that involves the locations and methods used to make products and services available to customers.
Channels of Distribution
Routes that products and services take from the time they are produced to the time they are consumed.
Direct Channel
A distribution channel that moves the product directly from the manufacturer to the consumer.
Indirect Channel
A distribution channel that uses intermediaries, such as agents and wholesalers, to move products between the manufacturer and the consumer.
Physical Distribution
Includes transportation, storage, handling, and packaging of products within a channel of distribution.
Advertising
A paid form of communication sent out by a business about a product or service; it keeps a product or service in the publics eye by creating a sense of awareness and helps convey a positive image.
Publicity
Nonpaid form of communication that calls attention to a business through media coverage.
Press Release
Written statement meant to inform the media of an event or product.
Public Relations
Act of establishing a favorable relationship with customers and the general public.
Personal Selling
Direct communication between a prospective buyer and a sales representative in which the sales representative attempts to influence the prospective buyer in a purchase situation.
Rational Buying Decisions
Emotional Buying Decisions
Based on buying
Telemarketing
Sales Promotion
Incentive offered to customers in order to increase sales; examples include contests, free samples, rebates, coupons, special events, gift certificates, and frequent-buyer reward programs.
