week 2 Flashcards
is a business that sells products and/or services
to consumers for personal or family use.
retailing
a person or organization that buys goods or
services from a store or business.
customer
buys products with the objective of selling
them later at a high price.
reseller
is the path used to get a product from the manufacturer or creator to the end user.
reseller
what are the 4 distribution channel
marketing
wholesaler
retailer
customer
is the creation or production of goods with
the help of equipment, labor, machines,
tools, and chemical or biological
processing or formulation.
Manufacturing
A person or company that sells large
quantities of goods, often at low prices, to
retailers.
Wholesaler
A person or business that sells goods to the
public in small quantities for immediate use
or consumption.
retailer
A person who buys a product or service for
personal or family use.
consumer
3 types of distribution channels
direct
indirect
hybrid
A channel allows the consumer to make purchases from the manufacturer.
This _____, or short channel, may mean lower costs for consumers because they are buying directly from the manufacturer.
direct
An ________ channel allows the consumer to buy the goods from a wholesaler or retailer. Indirect
channels are typical for goods that are sold in traditional brick-and-mortar stores.
indirect
_______ distribution channels use both direct channels and indirect channels. A product or service
manufacturer may use both a retailer to distribute a product or service and may also make sales
directly with the consumer.
hybrid
How Retailers Add Value (4)
breaking bulk
holding inventory
providing assortment
offering services
Buy in large quantities then
offer to consumer in smaller
quantities.
breaking bulk
