Term
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Definition
| an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders |
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Term
| competition for a differential advantage |
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Definition
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Term
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Definition
a management philosophy which advocates the business organization or channel:
exists to identify and satisfy the needs of its customers, that a customer orientation is accomplished through an intergrative effort throughout the firm or channel, that the firms focus should be long-term and seek to provide a satisfactory return on owners investment |
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Term
| 8 general marketing functions |
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Definition
buying
selling
storing
transporting
sorting
financing
info gathering
risk taking |
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Term
| what purpose do marketing channels perform? |
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Definition
| to get products to the consumer when where and how they want it. Farmer, egg, and grocery store example |
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Term
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Definition
| reduction of number of intermediaries |
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Term
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Definition
| evolution of new type of intermediary |
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Term
| why the growing importance of marketing channels? |
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Definition
1. the explosion of info tehnology and e-comm
2. a greater difficulty in gaining sustainable competitive advantage
3. the growing power of distributors, especially retailers in markting channels
4. the need to reduce distribution costs |
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Term
| primary members of a channel must |
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Definition
1. have possession/title
2. demonstrate one or more of the marketing functions
3. circumvent the channel (shangby)
4. co-create-work hand in hand with the manufacturers. |
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Term
| 5 primary marketing channel flows |
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Definition
product
negotiation
ownership
information
promotion |
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Term
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Definition
| the group of institutions (facilitating agents) that assists channel members in performing distribution tasks. |
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Term
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Definition
| the firm has chosen to reach its customers through more than one channel. |
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Term
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Definition
| the group of channel members to which a set of distribution tasks has been allocated. |
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Term
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Definition
| the level of negotiation effort between sellers and buyers relative to achieving a distribution objective. |
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Term
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Definition
| Product, Place, Price, Promotion |
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Term
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Definition
| the external contactual organization that management operates to achieve its distribution objectives. |
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Term
| the multi-channel challenge |
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Definition
1. finding the optimal multi-channel mix
2. creating multi-channel synergies
3. avoiding multi-channel conflicts
4. gaining a sustainable competitive advantage via multi-channel strategy. |
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Term
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Definition
| provide consumes with products when where and how the consumer wants it meaning that the consumer is our target market. |
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Term
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Definition
| the more economical and efficient, the more time you perform the exact same task. This is why customizable things are so expensive. |
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Term
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Definition
| spreading high fixed costs over large quantities of diverse products. |
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Term
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Definition
-Independent middlemen: merchant wholesalers and agents brokers & commission merchants.
-manufacturer owned: manufacturers sales branches & offices. |
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Term
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Definition
| buy, take title to, store and handle large quantities of products and resell them to retailers, other wholesalers, and industrial, commercial or institutional concerns. |
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Term
| agents, brokers & commission merchants: |
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Definition
| are involved in buying & selling while acting on behalf of clients. Work on commissions on sales or purchases. |
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Term
| manufacturers sales branches and offices are |
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Definition
| separated from manufacturing plants, distribute manufacturers products at wholesale, are owned and operated by manufacturers, and some wholesale allied and supplementary products purchased from other manufacturers. |
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Term
| merchant wholesalers distribution tasks serve manufacturers/producers are: |
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Definition
provide market coverage
make sales contacts
hold inventory
process orders
gather market info
offer customer support |
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Term
| merchant wholesalers distribution tasks serve customers/retailers |
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Definition
assure product availability
provide customer service
extend credit and financial assistance
offer assortment convenience
break bulk
help customers with advice and technical support. |
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Term
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Definition
consists of the final activities and steps needed to place merchandise made elsewhere in the hands of the consumer or to provide services to the consumer
costco and sams are wholesalers and not retailers |
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Term
| decreasing number of establishments and increasing sales results in |
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Definition
| increase in size of retail establishments measured by average sales volume per store. |
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Term
| Distribution Tasks Performed by Retailers |
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Definition
-Offer manpower & physical facilities close to consumers’ residences
-Provide personal assistance to help sell products
-Interpret and relay consumer demand
-Divide large quantities into consumer-sized lots
-Offer storage
-Remove risk by ordering in advance of the season |
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Term
| three-tailing, outshopping or show-rooming: |
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Definition
| people who go into the store and try it on or test it out and then turn to another outlet to purchase it such as the internet or a catalogue. |
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Term
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Definition
consists of all external uncontrollable factors within which marketing channels exist.
1. economic
2. sociocultural
3. competitive
4. technological
5. weather |
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Term
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Definition
recession
inflation
deflation |
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Term
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Definition
trade deficit
nominal inflation rate (real interest rates)
national deficit |
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Term
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Definition
horizontal
intertype
vertical
channel system |
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Term
| sociocultural developments deal with |
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Definition
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Term
| the technological environment |
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Definition
helps retailers and wholesalers closely monitor success and failure of products they handle.
computer sales people
3-D modeling
ultra-wideband technology
mobile robots |
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Term
| channels are constrained by 4 factors |
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Definition
conflict
power
roles
communication |
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Term
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Definition
| one actor perceives another actors actions as impeing the attainment of ones goals. conflict is direct, personal, and opponent-oriented. |
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Term
| 7 general causes for conflict |
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Definition
-role incongruities
-resource scarcities
-perceptual differences
-expectational differences
-domain disagreements
-goal incompatibilities
-communication difficulties. |
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Term
| the key terms in conflict are |
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Definition
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Term
| managing channel conflict |
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Definition
-detecting conflict
-appraising the effect of conflict
-resolving conflict |
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Term
| keys to understanding power... |
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Definition
-dependency: any power relationship with always boi down to dependency between 2 people
-5 bases of power (French & Ravven): these are stilla function of dependency
-uses of power: how you use it |
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Term
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Definition
| the capacity of an actor to control or influence the behavior and actions of another |
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Term
| the 5 bases of power and control |
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Definition
reward
coercive
legitimate
referent
expert |
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Term
| Power is a function of dependency |
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Definition
P ab= D ba
Power of a over b=is a function of dependency of by of a |
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Term
| common behavioral problems in channel communications |
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Definition
differences in goals between members
differences in the kinds of language used
perceptual differences
secretive behavior
inadequate frequency |
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