Ch. 15 mkt review

Ch. 15 mkt review - MKT 3343 Chapter 15 MANAGING MARKETING...

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1 MKT 3343 – Chapter 15 MANAGING MARKETING CHANNELS AND WHOLESALING What is a marketing channel: * which 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. What is a middleman (or intermediary) in a marketing channel? What role does a middleman or intermediary serve in a marketing channel? Intermediary “middleman” : some buy items from the seller, store them, and resell them to buyers. Differentiate the following types of middlemen (or intermediaries): Agent: any intermediary with legal authority to act on behalf of the manufacturer. Manufacturer’s agent Selling agents Broker: Dealer: AN even more imprecise term that can mean the same as distributor, retailer, wholesaler, and so forth. Industrial distributor: usually used to describe intermediaries who perform a variety of distribution functions. Wholesaler: an intermediary who sells to other intermediaries, usually to retailers. Retailer: an intermediary who sells to consumers. Explain the differences in the following different channel functions: Transactional functions : involves buying, selling, and risk taking because they stock merchandise in anticipation of sales. Logistical functions : Evedent in the gathering, storing, and dispersing of products. Facilitating functions : assist producers in making goods and services more attractive to buyers What four ‘utilities’ do marketing channels provide consumers? 1.) Direct channel: a producer and ultimate consumers deal directly with each other. 2) Channel B “indirect channels” because intermediaries are inserted between the producer and consumers and perform numerous channel functions, has a retailer added. 3.) Channel C: Producer sells to wholesaler then is sold to retailer then to consumer. 4) Channel D: most indirect channel, has an agent to help coordinate sell to wholesaler then to retailer to consumer. What is the difference between a direct channel and an indirect channel?^^ Explain the concept of a “electronic marketing channel.”: * employ the Internet to make goods and services available for consumption or use by consumers or business buyers. What is meant by dual distribution?: * an arrangement whereby a firm reaches different buyers by employing two or more
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Ch. 15 mkt review - MKT 3343 Chapter 15 MANAGING MARKETING...

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