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test 3 study guide - ,sorting, o finalmarket o

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Chapter 11  Place and Development of Channel Systems       What is meant by bulk-breaking, sorting, and assorting activities? o Bulk breaking- dividing larger quantities into smaller quantities as products get closer to the  final market o Assorting activities- putting together a variety of products to give a target market what it  wants What is vertical integration? o Acquiring firms at different levels of channel activity Know the difference between shopping and convenience goods o Shopping goods- products that the customer feels are worth the time and effort to compare  with competing products o Convenience goods- products a consumer needs but isn’t willing to spend much time and  effort shopping for What is selective distribution, exclusive distribution? o Selective distribution- selling through only those intermediaries who will give the product  special attention o Exclusive distribution- selling through only one intermediary in a particular geographic area How does product licensing work?
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