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Matching: shaping and fitting the offer to the buyer’s needs, including activities such as manufacturing, grading, assembling and packagingNegotiation: Reaching an agreement on price and other terms of the offer so that ownership or possession can be transferred4 | P a g e
Marketing 396 Notes Final ExamOthers help to fulfill the completed transactions:Physical distribution: transporting and storing goodsFinancing: acquiring and using funds to cover the costs of the channel workRisk taking: assuming the risks of carrying out the channel workTypes of flows:Physical flow of productsThe flow of ownershipThe payment flowThe information flowPromotion flowGoals of the Logistics System:Provide a targeted level of customer service at the least costMaximize profits, not salesMajor Logistics FunctionsWarehousingInventory managementTransportationLogisticsInformation managementChapter 13RetailingAll of the activities involved in selling goods or services directly to final consumers for their personal, nonbusiness useRetailerA business whose sales come primarily from retailingShopper marketingUsing in-store and advertising to extend brand equity to “the last mile” and encourage favourable in-store purchase decisionsSelf-service retailersServe customers who are willing to perform their own locate-compare-select process to save time or moneyLimited-service retailersProvide more sales assistance because they carry more shopping goods about which customers need informationFull-service retailersHigh-end specialty stores and first-class department stores, salespeople assist customers in every phase of the shopping processSpecialty storeA retail store that carries a narrow product line with a deep assortment within that lineDepartment storeA retailer organization that carries a wide variety of product lines – each line is operated as a separate department managed by special buyers or merchandiserSupermarketA large, low-cost, low-margin, high-volume, self-serve store that carries a wide variety of grocery and household productsConvenience storeA small store, located near a residential area, that is open long hours seven days a week and carries a limited line of high-turnover convenience goodsSuperstoreA store much larger than a regular supermarket that offers a large assortment of routinely purchased food products, non-food items and services5 | P a g e
Marketing 396 Notes Final ExamCategory killersA giant specialty store that carries a very deep assortment of a particular line and isstaffed by knowledgeable employeesService retailerA retailer whose product line is actually a service, including hotels, airlines, banks, universities and colleges, and many othersDiscount storeA retail operation that sells standard merchandise at lower prices by accepting margins and selling at higher volumeOff-price retailer