BUS 135: Chapters 15 and 16
68 Cards in this Set
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Marketing Intermediaries
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assist in moving goods/services from producers to businesses (B2B) and from businesses to consumers (B2C)
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Channel of Distribution
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whole set of intermediaries, such as agents, brokers, wholesalers, and retailers, that join together to transport and store goods in their path/channel from producer to consumers
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Agents/Brokers
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marketing intermediaries who bring buyers and sellers together and assist in negotiating an exchange but don't take title to the goods
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Wholesaler
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marketing intermediary that sells to other organizations; take title of the good; generally in B2B
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Retailer
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organization that sells ultimately to consumers
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Utility
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want-satisfying ability, or value, organizations add to good/services when products are made more useful or accessible to consumers than they were before (6): form, time, place, possession, information, service
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Merchant Wholesalers
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independently owned firms that take title to the goods they handle
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Full-Service Wholesalers
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perform all distribution functions
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Limited-Function Wholesalers
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perform only selected functions
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Rack Jobbers
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furnish racks or shelves full of merchandise to retailers, display products and sell on consignment
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Cash-and-Carry Wholesalers
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serve mostly smaller retailers with limited assortment of products
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Drop Shippers
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solicit orders from retailers and other wholesalers and have the merchandise shipped directly from producer to a buyer
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Manufacturer's Agents
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represent multiple producers at a time in a specific area; often work in the automotive supply, footwear, and fabricated steel industries
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Sales Agents
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represent a single producer in a typically larger territory
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Retailing
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selling ultimately to consumers; stores: department, discount, super market, warehouse club, convenience store, category killer, outlet store, specialty store
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Department Stores
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variety of different product categories but in limited quantity; JCPenney's, Sears
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Discount Store
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Walmart, Target
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Supermarket
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Kroger, Safeway
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Warehouse Club
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Sam's Club, Costco
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Category Killer
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offer in-depth product lines of one or two categories of any product; Bass Pro, Office Depot, Toys R Us
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Outlet Stores
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brand name items are sold at discount; TJ Maxx, Nike Outlet
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Specialty Stores
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exclusive products; jewelry stores, bicycle shops
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Convenience Stores
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7 Eleven, QT
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Pop-Up Stores
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temporary outlets that remain open for a short amount of time in small places, offer promotional offers and/or items not found in traditional stores
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Intensive Distribution
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puts products into as many retail outlets as possible
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Selective Distribution
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sends products to only a preferred group of retailers in that area
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Exclusive Distribution
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sends products to only one retail outlet in a given geographic area
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Electronic Retailing
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selling goods/services to ultimate consumers over the internet
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Telemarketing
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sale goods/services by telephone
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Direct Selling
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selling to consumers in their homes or where they work
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Multilevel Marketing
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salespeople who work as independent contractors; recruit other salespeople to sell products and part of their commission is shared by all the people higher up in the chain
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Direct Marketing
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any activity that directly links manufacturers or intermediaries with the ultimate consumer
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Corporate Distribution Systems
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all of the organizations in the channel of distribution are owned by one firm
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Contractual Distribution Systems
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members are bound to corporate through contractual agreements: franchise systems, wholesale-sponsored chains, retail cooperatives
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Administered Distribution Systems
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producers manage all of the marketing functions at the retail level
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Supply Chains (Value Chains)
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sequence of linked activities that must be performed by various organizations to move goods from the sources of raw materials to ultimate consumers
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Supply Chain Management
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process of managing the movement of raw materials, parts, work in progress, finished goods, and related info through all the organizations involved in supply chain; managing the return of such goods, if necessary; and recycling materials when appropriate
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Logistics
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involves planning, implementing, and controlling the physical flow of materials, final goods, and relayed info from points of origin to points of consumption to meet customer requirements at a profit
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Inbound Logistics
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involves bringing raw materials, packaging, other goods/services, and info from suppliers to producers
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Materials Handling
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movement of goods within a warehouse, from a warehouse to factory floor, and from factory floor to various work stations
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Outbound Logistics
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involves managing the flow of finished products and info to business buyers and ultimate consumers
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Reverse Logistics
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involves bringing goods back to the manufacturer because of defects or for recycling materials
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Third Party Logistics
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use of outside firms to help move goods from here to there
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Freight Forwarder
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organization that puts many small shipments together to create a single large shipment that can be transported cost-effectively to the final destination
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Inter-modal Shipping
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use of multiple modes of transportation to complete a single long-distance movement of freight
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Storage Warehouses
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holds products for a relatively long time
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Distribution Warehouses
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facilities use to gather and redistribute products
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Promotion
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all techniques used by sellers to motivate people to buy their products or services
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Promotion Mix
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combination of promotional tools an organization uses (advertising, personal selling, public relations, sales promotion)
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Integrated Marketing Communication
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combines all the promotional tools into one comprehensive and unified promotional strategy
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Advertising
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paid, nonpersonal communication through various media by organizations and individuals who are in some way identified in the advertising message
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Product Placement
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put products into TV shows and movies where they'll be seen
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infomercial
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full-length TV program devoted exclusively to promoting goods or services
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Interactive Promotion
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allows marketers to go beyond a monologue to a dialogue in which buyers and sellers work together to create mutually beneficial exchange relationships
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Globalism
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one ad for everyone in the world
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Regionalism
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specific ads for each country or for specific groups within a country
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Personal Selling
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face-to-face presentation and promotion of goods/services
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Selling Process
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1. prospect and qualify
2. pre-approach
3. approach
4 make presentation
5 answer objections
6 close the sale
7 follow up
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Public Relations
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management function that evaluates public attitudes, changes public policies and procedures in response to public's requests and executes a program of action and info to earn public understanding and acceptance
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Publicity
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any info about an individual, product, or organization that's distributed to the public through the media and that's not paid for or controlled by the seller
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Sales Promotion
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promotional tool that stimulates consumer purchasing and dealer interest by means of short-term activities
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Word-of-Mouth Promotion
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people tell others about products
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Viral Marketing
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used to describe everything from paying customers to say positive things on the internet to setting up multilevel selling schemes whereby consumers get commissions for directing friends to specific websites
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Blog
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online diary that looks like a webpage but is easier to create and update by posting text, photos, or links to other sites
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Podcasting
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means of distributing audio and video programs via the internet that lets users subscribe to a number of files/feeds and then hear or view material whenever
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Push Strategy
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promotional strategy in which producer uses advertising, personal selling, sales promotion, and all other promotional tools to convince wholesalers and retailers to stock and sell merchandise
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Pull Strategy
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promotional strategy in which heavy advertising and sales promotion efforts are directed toward consumers so that they'll request the products from retailers
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Pick Economy
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promotional strategy in which customers pick out their products from online outlets or do online comparison shopping
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BUS 135: Exam 4 Study Guide