MKT 3343 Exam 4 Review.docx - MKT 3343 Exam 4 Study Guide CHAPTER 13 MARKETING CHANNELS SUPPLY-CHAIN MANAGEMENT Marketing Channel Consists of a group of

MKT 3343 Exam 4 Review.docx - MKT 3343 Exam 4 Study Guide...

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MKT 3343 Exam 4 Study Guide CHAPTER 13: MARKETING CHANNELS & SUPPLY-CHAIN MANAGEMENT Marketing Channel Consists of a group of individuals and organizations that direct the flow of products from producers to customers within the supply chain. They direct the flow. The major role of marketing channel is to make products available at the right time at the right place in the right quantities. Distribution The decisions and activities that make products available to customers when and where they want to purchase them. (Affects consumers and businesses) Supply Chain All the organizations and activities involved with the flow and transformation of products from raw materials through the end customer. (broader) Supply Chain Management The coordination of all activities involved with the flow and transformation of supplies, products, and information throughout the supply chain to the ultimate consumer. Functions include operations, logistics, supply, and marketing channel management. SCM begins with a focus on the consumer. Logistics Management Planning, implementing, and controlling the efficient and effective flow and storage of products and information from the point of origin to consumption in order to meet customers’ needs and wants. (the flow of product) Operations Management The total set of managerial activities used by an organization to transform resource inputs into goods, services, or both. (making the product) Marketing Intermediaries Are middlemen that link producers to other intermediaries or ultimate consumers through contractual arrangements or through the purchase and resale of products. Disintermediation When a channel member decides to eliminate intermediaries and to buy and/or sell direct. Activities performed by intermediaries - Marketing Information: Analyzes sales data & other info in databases & information systems. Perform or commission marketing research.
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- Marketing Management : Establishes strategic and tactical plans for developing customers relationships and organizational productivity - Facilitating exchanges : Chooses product assortments that match the needs of customers. Cooperate with channel members to develop partnerships - Promotion : Set promotional objectives. Coordinate advertising, personal selling, sales promotion, publicity, and packaging. - Price : Establish pricing policies and terms of sales. - Physical Distribution : Manage transportation, warehousing, materials, handling, inventory control, and communication. Benefits of intermediaries (why needed? What do they do?) (ON TEST!!!) Intermediaries make channel more efficient by minimizing the number of transactions. Types of utility (time, place, form, possession) (ON TEST!!!) - Time Utility : Means making products available when the customer wants them.
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