MKT Test 3 Vocab

MKT Test 3 Vocab - Chapter 11 Place making goods and...

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Chapter 11: Place: making goods and services available in the right quantities and locations--when customers want them. Channel of distribution: any series of firms or individuals who participate in the flow of products from producer to final user or consumer. Direct marketing: direct communication between a seller and an individual customer using a promotion method other than face-to-face personal selling. Discrepancy of quantity: the difference between the quantity of products it is economical for a producer to make and the quantity final users or consumers normally want. Discrepancy of assortment: the difference between the lines a typical producer makes and the assortment final consumers or users want. Regrouping activities: adjusting the quantities and/or assortments of products handled at each level in a channel of distribution. Accumulating: collecting products from many small producers. Bulk-breaking: dividing larger quantities into smaller quantities as products get closer to the final market. Sorting: separating products into grades and qualities desired by different target markets. Assorting: putting together a variety of products to give a target market what it wants. Traditional channel systems: a channel in which the various channel members make little or no effort to cooperate with each other. Channel captain: a manager who helps direct the activities of a whole channel and tries to avoid--or solve--channel conflicts. Vertical marketing systems: channel systems in which the whole channel focuses on the same target market at the end of the channel. Corporate channel systems: corporate ownership all along the channel. Vertical integration: acquiring firms at different levels of channel activity. Administered channel systems: various channel members informally agree to cooperate with each other. Contractual channel systems: various channel members agree by contract to cooperate with each other. Ideal market exposure: when a product is available widely enough to satisfy target customers' needs but not exceed them.
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Intensive distribution: selling a product through all responsible and suitable wholesalers or retailers who will stock and/or sell the product. Selective distribution: selling through only those middlemen who will give the product special attention. Exclusive distribution: selling through only one middleman in a particular geographic area. Multichannel distribution: when a producer uses several competing channels to reach the same target market--perhaps using several middlemen in addition to selling directly (sometimes called dual distribution). Dual distribution: when a producer uses several competing channels to reach the same target market--perhaps using several middlemen in addition to selling directly (sometimes call multichannel distribution) Reverse channels: channels used to retrieve products that customers no longer want. Chapter 12:
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This note was uploaded on 06/06/2008 for the course MKT 320 taught by Professor Miller during the Spring '08 term at University of Texas.

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MKT Test 3 Vocab - Chapter 11 Place making goods and...

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