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Ch.11 Exploring Business
Final Exam Ch. 7-14
24
Business
Undergraduate 1
11/21/2009

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Term
Distribution
Definition
The selection of the distribution channels to reach and deliver products to customers most efficientyl and effectively.
Term
Distribution Channel
Definition
The specific method a company uses to sell and deliver its products to customers.
Term
Personal Selling
Definition
Direct face-to-face communication by salespeople with teh existing and potential customers to promote a company's product.
Term
Downstream Value Chain
Definition
All of the activities realted to managing a product from the time it is made to the time it is delivered and used by customers.
Term
Licensed Distributors and Dealers
Definition
Independent companies that buy the rights to distribute, sell, and service a company's prodicts within a specific geographical area.
Term
Exclusive Dealerships
Definition
Distributors that are licensed to stock and sell only one brand of a product.
Term
Wholesaler
Definition
An intermediary or broker that buys products from manufacturers and tehn resells them to other companies, such as retailers, which in turn distribute them to the final customer.
Term
Final Customer
Definition
The person who actually uses or consumes a product.
Term
Retailers
Definition
Intermediaries who sell other companies' products to the final customer.
Term
Direct Distribution
Definition
Distribution channels used to deliver and sell products directly to the final customer.
Term
Distribution Mix
Definition
The combination of channels a company selects to place, promote, sell, and deliver its products to customers.
Term
Complex Products
Definition
Products with qualities and characteristics that make them difficult for customers to evaluate.
Term
Technical Selling
Definition
Selling that requires a company's sales representatives to impart detailed technical information to their customers.
Term
Missionary Selling
Definition
Selling that occurs when a salesperson educates customers, builds goodwill, and performs promotional activities to encourage them to purchase a product at a later date.
Term
Agent
Definition
A person, or intermediary, acting on behalf of final customers.
Term
Creative Selling
Definition
Selling that requires salespeople to combine their technical knowledge and personal selling experience to craft creative and unique ways to better meet the needs of their customers.
Term
Connoisseur
Definition
A person with immense knowledge about a particular type of product can identify the qualities that make it valuable.
Term
Trade Selling
Definition
Selling done through the intermediaries, such as wholesalers and retailers, which manage the sale of a company's products to other companies.
Term
Retail Selling
Definition
Selling to the final customer--the person who buys a product for his or her own use.
Term
Telemarketing
Definition
A sales method used to contact perspective customers exclusively by phone.
Term
Prospects
Definition
Potential customers for the goods and services a salesperson is offering.
Term
Cold Call
Definition
The first contact a salesperson has with a customer, either by e-mail, phone, or in person.
Term
Buyer's Remorse
Definition
A phenomenon that occurs when a customer believes he or she made a poor purchasing choice.
Term
Customer Relationship Management System
Definition
An IT-based knowledge system designed to track a company's customers---what they are buying, how satisfied they are, and how their demands are changing.
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