DOC PREVIEW
TAMU MKTG 409 - Exam 3 Study guide
Type Study Guide
Pages 7

This preview shows page 1-2 out of 7 pages.

Save
View full document
View full document
Premium Document
Do you want full access? Go Premium and unlock all 7 pages.
Access to all documents
Download any document
Ad free experience
View full document
Premium Document
Do you want full access? Go Premium and unlock all 7 pages.
Access to all documents
Download any document
Ad free experience
Premium Document
Do you want full access? Go Premium and unlock all 7 pages.
Access to all documents
Download any document
Ad free experience

Unformatted text preview:

MKTG 409 1nd EditionExam # 3 Study Guide Lectures: 14 -19Lecture 14 (March 6) – Chapter 15: Marketing Channels and Supply Chainsupply-chain management: A set of approaches used to integrate the functions of operations management, logistics management, supply management, and marketing channel managementso products are produced and distributed in the right quantities, to the right locations, and at the right timesupply chain: All the activities associated with the flow and transformation of products from raw materials through to the end customersupply management: In its broadest form, refers to the processes that enable the progress of value from raw material to final customer and back to redesign and final dispositionoperations management: The total set of managerial activities used by an organization to transform resource inputs into products, services, or bothlogistics management: Planning, implementing, and controlling the efficient and effective flow and storage of products and information from the point of origin to consumption to meet customers’ needs and wantsChannel management: All activities related to selling, service, and the development of long-term customer relationshipTechnology: has increased speed, flexibility, and cooperation; It has improved service by increasing number of innovative goods and increased involvement in supply chainMarketing Channel: A group of individuals and organizations that direct the flow of products from producers to customers within the supply chain; determine a product’s market presence and buyers accessibility to the product; Create Time, place, possession, and form utility; A channel can include the producer, agents(optional), wholesalers(optional), retailers(optional), and consumers(optional); Strategic issues include competitive priorities, channel integration, channel leadership and coordinationChannel Cooperation: Enables retailers to speed up inventory replenishment, improve customerservice and cut costs of bringing products to customers; Conflict occurs when self-interest creates misunderstanding and communication is poor between channel membersprivate warehouses: Company-operated facilities for storing and shipping productspublic warehouses: Storage space and related physical distribution facilities that can be leased by companiesmaterials handling: Physical handling of tangible goods, supplies, and resourcesmegacarriers: Freight transportation firms that provide several modes of shipmenttying agreement: An agreement in which a supplier furnishes a product to a channel member with the stipulation that the channel member must purchase other products as wellIndustrial Distributor: An independent business that takes title to products and carries inventoriesManufacturers’ Agent: An independent businessperson who sells complementary products and is compensated by commissionsDistribution centers: Large, centralized warehouses that focus on moving rather than storing goodsselective distribution: Using only some available outlets in an area to distribute a productMarketing Intermediary: Middleman link producers to other intermediaries or ultimate consumers through contractual arrangement or through the purchase and reselling of products;Activates include: Marketing information, marketing management, facilitating exchange, promotion, price, physical distribution. Make the buying process more efficient, middleman does not always equal more cost.Marketing Channel Selection: Customer characteristics, product attributes, type of organization, competition, marketing environmental forces, and characteristics of intermediariesIntensive Market Coverage: Convenience productsSelective Market Coverage: Shopping ProductsExclusive Market Coverage: Specialty productschannel captain: The dominant leader of a marketing channel or a supply channelchannel power: The ability of one channel member to influence another member’s goal achievementvertical channel integration: Combining two or more stages of the marketing channel under one managementvertical marketing system (VMS): A marketing channel managed by a single channel member toachieve efficient, low-cost distribution aimed at satisfying target market customershorizontal channel integration: Combining organizations at the same level of operation under one managementphysical distribution: Activities used to move products from producers to consumers and other end users; Functions include customer service, administration, transportation(Most Expensive), warehouse, and inventory carrying.order processing: The receipt and transmission of sales order informationStockouts: Shortages of products that can result in loss of customersReorder Point: The inventory level that signals the need to place a new orderOrder Lead Time: The average time lapse between placing the order and receiving itUsage Rate: The rate at which inventory is used/soldSafety Stock: The extra inventory a firm keepsjust-in-time (JIT): An inventory-management approach in which supplies arrive just when needed for production or resalematerials handling: Physical handling of tangible goods, supplies, and resourcesLegal Issues: Dual Distribution, Restricted sales, exclusive dealing, tying agreements, refusal to dealLecture 15 (March 18) – Chapter 14: Branding and PackagingBrand: A name, term, design, symbol, or other feature that identifies one seller’s product as distinct from those of other sellers; Value to buyers includes identification, reduction of purchase time, provides a form of self-expression, helps evaluate Quality, Reduces perceived risk in purchase, offers potential psychological reward; Value to sellers include Identification,Makes repeat purchasing easer, assists in new product introduction and promotional efforts, fosters brand loyalty, and increases profitability. Products must protect their brand name because they may loose it. Can do this with a strong brand name and legal registrationbrand mark: The part of a brand that is not made up of words, such as a symbol or designbrand name: The part of a brand that can be spoken, including letters, words, and numberstrade name: The full legal name of an organizationtrademark: A legal designation of exclusive use of a brandbrand equity: The marketing and financial value associated with a brand’s strength in a market; Includes brand name awareness, perceived brand quality, brand associations, and brand loyalty;The worlds most valueable brand is Coca-colabrand


View Full Document

TAMU MKTG 409 - Exam 3 Study guide

Type: Study Guide
Pages: 7
Documents in this Course
Load more
Download Exam 3 Study guide
Our administrator received your request to download this document. We will send you the file to your email shortly.
Loading Unlocking...
Login

Join to view Exam 3 Study guide and access 3M+ class-specific study document.

or
We will never post anything without your permission.
Don't have an account?
Sign Up

Join to view Exam 3 Study guide 2 2 and access 3M+ class-specific study document.

or

By creating an account you agree to our Privacy Policy and Terms Of Use

Already a member?