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| brokers |
independent firms or individuals whose principle function is to bring buyers and sellers together to make sales |
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jenmn2010 Wed, 19 Nov 2008 05:06:20 GMT |
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| manufacturer's agents |
work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory |
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jenmn2010 Wed, 19 Nov 2008 05:05:30 GMT |
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| merchant wholesalers |
independently owned firms that take title to the merchandise they handle |
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jenmn2010 Wed, 19 Nov 2008 05:05:30 GMT |
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| retail life cycle |
the process of growth and decline that retail outlets, like products, experience is described by the retail life cycle |
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jenmn2010 Wed, 19 Nov 2008 05:05:30 GMT |
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| wheel of retailing |
describes how new forms of retail outlets enter the market. usually they enter as low-status, low-margin stores |
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jenmn2010 Wed, 19 Nov 2008 05:05:30 GMT |
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| category management |
a popular approach to managing the assortment of merchandise today |
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jenmn2010 Wed, 19 Nov 2008 05:01:05 GMT |
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| multi-channel retailers |
utilize and integrate a combination of traditional store formats and nonstore formats such as catalogs, television, and online retailing |
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jenmn2010 Wed, 19 Nov 2008 05:01:05 GMT |
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| power center |
a huge shopping strip with multiple anchor stores |
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jenmn2010 Wed, 19 Nov 2008 05:01:04 GMT |
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| regional shopping centers |
consist of 50 to 150 stores that typically attract customers who live or work within a 5 to 10 mile range |
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jenmn2010 Wed, 19 Nov 2008 05:01:04 GMT |
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| central business district |
the oldest retail setting, the community's downtown area |
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jenmn2010 Wed, 19 Nov 2008 04:55:52 GMT |
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| store location |
involves where to locate the store and how many stores to have |
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jenmn2010 Wed, 19 Nov 2008 04:55:52 GMT |
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| shrinkage |
a special issue for retailers trying to keep prices low |
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jenmn2010 Wed, 19 Nov 2008 04:55:52 GMT |
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| original markup |
the difference between retailer cost and initial selling price. when products do no t sell as quickly as anticipated, their price is reduced |
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jenmn2010 Wed, 19 Nov 2008 04:55:52 GMT |
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| markup |
refers to how much should be added to the cost the retailer paid for a product to reach the final selling price |
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jenmn2010 Wed, 19 Nov 2008 04:52:34 GMT |
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| retail pricing |
in setting prices for merchandise, retailers must decide on the markup, markdown, and timing for markdowns |
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jenmn2010 Wed, 19 Nov 2008 04:52:34 GMT |
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| retailing mix |
includes activities related to managing the store and the merchandise in the store |
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jenmn2010 Wed, 19 Nov 2008 04:52:34 GMT |
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| telemarketing |
involves using the telephone to interact with and sell directly to consumers |
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jenmn2010 Wed, 19 Nov 2008 04:52:34 GMT |
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| scrambles merchandising |
offering several unrelated product lines in a single store |
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jenmn2010 Wed, 19 Nov 2008 04:49:16 GMT |
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| breadth of stores |
stores that carry a broad product line, with limited depth, are referred to as general merchandise stores |
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jenmn2010 Wed, 19 Nov 2008 04:49:16 GMT |
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| depth of line |
stores that carry a considerable assortment of related line of items are limited-line stores |
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jenmn2010 Wed, 19 Nov 2008 04:49:16 GMT |
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| full service retailers |
include most specialty stores and department stores, provide many services to their customers |
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jenmn2010 Wed, 19 Nov 2008 04:49:16 GMT |
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| limited service |
provide some services, such as credit and merchandise return, but not others, such as clothing alterations |
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jenmn2010 Wed, 19 Nov 2008 04:40:50 GMT |
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| self-service |
requires that the customer performs many functions and little is provided by the outlet |
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jenmn2010 Wed, 19 Nov 2008 04:40:50 GMT |
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| contractual systems |
involve independently owned stores that band together to act like a chain |
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jenmn2010 Wed, 19 Nov 2008 04:40:50 GMT |
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| corporate chain |
involves multiple outlets under common ownership |
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jenmn2010 Wed, 19 Nov 2008 04:40:50 GMT |
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| merchandise line |
describes how many different types of products a store carries and in what assortment |
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jenmn2010 Wed, 19 Nov 2008 04:38:11 GMT |
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| level of service |
used to describe the degree of service provided to the customer |
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jenmn2010 Wed, 19 Nov 2008 04:38:11 GMT |
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| form of ownership |
distinguishes retail outlets based on whether individuals, corporate chains, or contractual systems own the outlet |
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jenmn2010 Wed, 19 Nov 2008 04:38:11 GMT |
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| independent retailer |
one of the most common forms of retail ownership. owned by an individual |
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jenmn2010 Wed, 19 Nov 2008 04:38:11 GMT |
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| retailing |
includes all activities involved in selling, renting, and providing goods and services to ultimate consumers for personal, family, or household use |
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jenmn2010 Wed, 19 Nov 2008 04:33:27 GMT |
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| vendor-managed inventory |
the supplier determines the product amount and assortment a customer needs and automatically delivers the appropriate items |
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jenmn2010 Wed, 19 Nov 2008 04:33:27 GMT |
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| convenience |
there should be a minimum of effort on the part of the buyer in doing business with the seller |
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jenmn2010 Wed, 19 Nov 2008 04:33:27 GMT |
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| communication |
a two-way link between buyer and seller that helps in monitoring service and anticipating future needs |
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jenmn2010 Wed, 19 Nov 2008 04:33:27 GMT |
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| dependability |
is the consistency of replenishment |
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jenmn2010 Wed, 19 Nov 2008 04:28:46 GMT |
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| customer service |
the ability of logistics management to satisfy users in terms of time, dependability, communication, and convenience |
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jenmn2010 Wed, 19 Nov 2008 04:28:46 GMT |
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| total logistics cost |
includes expenses associated with transportation, materials handling and warehousing, inventory, stockouts (being out of inventory), order processing, and return goods handling |
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jenmn2010 Wed, 19 Nov 2008 04:28:46 GMT |
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| harmonizing the supply chain with the marketing strategy |
a company needs to ensure that what the supply cain is capable of doing well is consistent with the targeted customer's needs and its marketing strategy. if a mismatch exists between what the supply chain does particularly well and a company's marketing strategy, the company will either need to redesign the supply chain to support the marketing strategy or change the marketing strategy |
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jenmn2010 Wed, 19 Nov 2008 04:28:46 GMT |
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| understanding the supply chain |
a company must understand what a supply chain is designed to do well. supply chains range from those that emphasize being responsive to customer requirements and demand to those that emphasize efficiency with a goal of supplying products at the lowest possible delivered cost |
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jenmn2010 Wed, 19 Nov 2008 04:21:13 GMT |
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| Understanding the customer |
a company must identify the needs of the customer segment being served. these needs, such as a desire for a low price or convenience of purchase, help a company define the relative importance of efficiency and responsiveness in meeting customer requirements |
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jenmn2010 Wed, 19 Nov 2008 04:21:13 GMT |
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| Aligning a supply chain with marketing strategy |
1. understand the customer
2. understand the supply chain
3. harmonize the supply chain with the marketing strategy |
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jenmn2010 Wed, 19 Nov 2008 04:21:13 GMT |
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| supply chain management |
is the integration and organization of information and logistics activities across firms in a supply chain for the purpose of creating and delivering goods and services that provide value to consumers |
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jenmn2010 Wed, 19 Nov 2008 04:21:13 GMT |
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| supply chain |
a sequence of firms that perform activities required to create and deliver a good or service to consumers or industrial users |
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jenmn2010 Wed, 19 Nov 2008 04:06:04 GMT |
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| logistics |
involves hose activities that focus on getting the right amount of the right products to the right place at the right time at the lowest possible cost |
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jenmn2010 Wed, 19 Nov 2008 04:06:04 GMT |
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| horizontal conflict |
occurs between intermediaries at the same level in a marketing channel, such as between two or more retailers (target and kmart) or two or more wholesalers that handle the same manufacturer's brands |
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jenmn2010 Wed, 19 Nov 2008 04:06:04 GMT |
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| disintermediation |
channel conflict that arises when a channel member bypasses another member and sells or buys products direct |
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jenmn2010 Wed, 19 Nov 2008 04:06:04 GMT |
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| vertical conflict |
occurs between different levels in a marketing channel |
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jenmn2010 Wed, 19 Nov 2008 03:14:07 GMT |
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| channel conflict |
it arises when one channel member believes another channel member is engaged in behavior that prevents it from achieving its goals |
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jenmn2010 Wed, 19 Nov 2008 03:14:07 GMT |
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| profitability |
determined by the revenues earned minus cost for each channel member and for the channel as a whole |
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jenmn2010 Wed, 19 Nov 2008 03:14:07 GMT |
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| satisfying buyer requirements |
1. information
2. convenience
3. variety
4. pre- or postsale services |
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jenmn2010 Wed, 19 Nov 2008 03:14:06 GMT |
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| selective distribution |
lies between these two extremes and means that a firm selects a few retail outlets in a specific geographical area to carry its products |
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jenmn2010 Wed, 19 Nov 2008 03:09:14 GMT |
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| exclusive distribution |
the extreme opposite of intensive distribution because only one retail outlet in a specified geographical area carries the firm's products |
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jenmn2010 Wed, 19 Nov 2008 03:09:14 GMT |
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| intensive distribution |
means that a firm tries to place its products and services in as many outlets as possible |
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jenmn2010 Wed, 19 Nov 2008 03:09:14 GMT |
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| vertical marketing systems |
are professionally managed and centrally coordinated marketing channels designed to achieve channel economies and maximum marketing impact |
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jenmn2010 Wed, 19 Nov 2008 03:09:14 GMT |
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| dual distribution |
an arrangement whereby a firm reaches different buyers by employing two or more different types of channels for the same basic product. |
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jenmn2010 Wed, 19 Nov 2008 03:04:40 GMT |
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| dealer |
a more imprecise term than distributor that can mean the same as distributor, retailer, wholesaler, and so forth |
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jenmn2010 Wed, 19 Nov 2008 03:04:40 GMT |
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| distributor |
an imprecise term, usually used to describe intermediaries who perform a variety of distribution functions, including selling, maintaining inventories, extending credit, and so on; a more common term in business markets but may also be used to refer to wholesalers |
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jenmn2010 Wed, 19 Nov 2008 03:04:40 GMT |
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| retailer |
an intermediary who sells to consumers |
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jenmn2010 Wed, 19 Nov 2008 03:04:40 GMT |
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| wholesaler |
an intermediary who sells to other intermediaries, usually to retailers; term usually applies to consumer markerts |
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jenmn2010 Wed, 19 Nov 2008 03:04:40 GMT |
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| agent or broker |
any intermediary with legal authority to act on behalf of the manufacturer |
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jenmn2010 Wed, 19 Nov 2008 03:04:40 GMT |
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| middleman |
any intermediary between manufacturer and end-user markets |
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jenmn2010 Wed, 19 Nov 2008 03:04:40 GMT |
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| marketing channel |
consists of individuals and firms involved in the process of making a product or service available for use or consumption by consumers or industrial users. |
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jenmn2010 Wed, 19 Nov 2008 03:04:40 GMT |
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