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Chapter 11
Key terms chapter 11 Basic Marketing 17e
28
Marketing
03/28/2011

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Term
Place
Definition
Making goods and services available in the right quantities and locations, when customers want them.
Term
Channel of distribution
Definition
Any series of firms or individuals who participate in the flow of products from producer to final user or consumer.
Term
direct marketing
Definition
direct communication between a seller and an individual customer using a promotion method other than face-to-face selling.
Term
Discrepancy of quantity
Definition
the difference between the quantity of products it is economical for a producer to make and the quantity final users or consumers normally want. example a golf ball producer may produce 200000 balls in a time period but an individual consumer may only want 10 in that same time period.
Term
Discrepancy of assortment
Definition
the difference between the lines a typical producer makes and the variety of products a consumer wants. example a golf ball manufacture only makes balls but the consumer may want clubs, shoes, bag and gloves but the consumer wants them all at the same location.
Term
regrouping activities
Definition
adjust the quantities or assortments of products handled at each level in a channel of distribution. accumulating, bulk-breaking, sorting, and assorting.
Term
accumulating
Definition
collecting products from many small producer example small crops gathered into larger quantities in an effort to lower transportation costs.
Term
bulk-breaking
Definition
dividing up larger quantities into smaller quantities as products get closer to the final market. may involve several layers of the chain of distribution including the retail level when shelves are stocked from individual items in a large case.
Term
sorting
Definition
separating products into grades and qualities desired by different target markets. for example a wholesaler that specializes in serving convenience stores may focus on smaller packages of frequently used products.
Term
assorting
Definition
putting together a variety of products to give a target market what it wants. this is usually done by those closest to the final consumer or user. Retailers or wholesalers who try to supply a wide variety of products for the convenience of their customers.
Term
traditional channel systems
Definition
the various channel members make little or no effort to cooperate with each other. They buy and sell from each other-- and that's the extent of their relationship.
Term
channel captain
Definition
a manager who helps direct the activities of a whole channel and tries to avoid or solve conflicts.
Term
Vertical marketing systems
Definition
channel systems in which the whole channel focuses on the same target market at the end of the channel.
Term
corporate channel systems
Definition
corporate ownership all along the channel --it may seem like "going direct" but in this case the firm is doing the manufacturing,wholesaling and retailing.
Term
vertical integration
Definition
acquiring firms at different levels of channel activity. for example most local pubs in England are owned by large beer breweries.
Term
administered channel systems
Definition
the channel members informally agree to cooperate with each other.
Term
contractual channel systems
Definition
the channel members agree by contract to cooperate with each other.
Term
ideal market exposure
Definition
makes a product available widely enough to satisfy target customers' needs but not exceed them.
Term
intensive distribution
Definition
selling a product through all responsible and suitable wholesalers or retailers who will stock or sell the product.
Term
selective distribution
Definition
selling through only those intermediaries who will give the product special attention.
Term
exclusive distribution
Definition
selling through only one intermediary to a particular geographic area.
Term
multichannel distribution
Definition
occurs when a producer uses several competing channels to reach the same target market perhaps using several intermediaries in addition to selling directly.
Term
reverse channels
Definition
used to retrieve items customers no longer want. returns or recycled items.
Term
exporting
Definition
selling some of what the firm produces to foreign markets.
Term
Licensing
Definition
selling the right to use some process, trademark, patent, or other right for a fee or royalty.
Term
management contracting
Definition
the seller provides only management and marketing skills -- others own the production and distribution facilities.
Term
joint venture
Definition
a domestic firm enters into a partnership with a foreign firm.
Term
direct investment
Definition
a parent firm has a division or owns a separate subsidiary firm in a foreign market.