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Principles of Marketing Final
n/a
27
Marketing
Undergraduate 4
12/08/2014

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Cards

Term
Trade
Definition
Given by a producer to an intermediary for performing certain functions.
Term
What is the method of cash used for...
Definition
Prompt payment , 2/1 net 30
Term
When something is purchased out of season it is
Definition
Seasonal
Term
Trade in allowances
Definition
Price reductions granted for turning in a used item when purchasing a new one to achieve a desired goal. (popular in the aircraft industry)
Term
Geographical
Definition
FOB origin pricing
Term
Uniform delivered pricing
Definition
Single zone, multiple zone, FOB with freight allowed and basing-point pricing.
Term
Free on Board
Definition
This is determined when the buyer takes ownership in the product being purchased . This means that the buyer takes ownership at the seller's location and is responsible for it at that point.
Term
Uniform Pricing
Definition
Where prices increase as shipping distanced increase.
Term
Zone Pricing
Definition
Where prices increase as shipping distances increase.
Term
What are the five (illegal or unethical) pricing practices... These are affected by legal and regulatory restrictions
Definition
Price fixing
Predatory
Deceptive
Discrimination
Geographical
Term
Three basic functions of intermediaries - Marketing channel intermediaries perform three functions, each consisting of different activities....
Definition
Transactional , Logistical and Facilitation.
Term
Transactional Functional
Definition
Buying (purchasing products for resale)
////Selling (identifying, contacting and seeking orders)///Risk taking (assuming obsolescence or deterioration).
Term
Logistical Function
Definition
Asserting/Sorting (creating product assortments from different sources... sort/re-source)///Storing (assembling products at various location)Transporting
Term
Facilitation Function
Definition
Financing (extending purchasing credit)
Grading (inspection, testing, quality grading)//Information(providing
Term
What are the four Utilities
Definition
Time , place, form and possession.
Term
Form
Definition
Consist of taking raw material and then turn them into useful products. This is preformed by producers. The value a customer sees in a unfinished product.
Term
Time
Definition
Intermediaries such as retailers, by marketers add utility to products by making them available when they are needed.
Term
Place
Definition
Intermediaries add utility to products by having them where people wan them.Is it accessible.
Term
Possession
Definition
Intermediaries add utility by doing whatever is necessary to transfer ownership from one party to another, including providing credit, deliveries, installation, service. The value customers put on having the freedom to use the product as it was intended or finding a new use for the product.
Term
What is demand measured by?
Definition
The number of potential buyers
Term
Skimming
Definition
Charging the highest price possible that buyers who most desire the product will pay. Generate much needed initial cash flow, cover Hugh R&D costs.
Term
Penetration
Definition
Price reduced compared to competitors to penetrate into markets to increase sales. Less flexible more difficult to raise prices than it is to lower them.
Term
Supply Chain
Definition
The connected sequence of all the business entities, both internal and external to the company that perform the logistics function.
Term
Supply Chain Management
Definition
The integration and organization of information and logistics activities across firms
Term
Logistics Management
Definition
The process of moving goods through the supply chain
Term
Marketing intermediaries
Definition
Organizations (middlemen) in the middle f a series of organizations that join together to help distribute goods.
Term
Channel of distribution
Definition
The while series of marketing intermediaries who joint together to transport and store goods in theory path from producers to consumers
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