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MKT1002 > Lecture 11 Place > Flashcards

Lecture 11 Place Flashcards

1
Q

Define upstream partners

A

Firms that supply raw materials, components, parts, information, finances, and expertise needed to create a products or service

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2
Q

Define downstream partners

A

These include the marketing channels or distribution channels that look towards the customer, including retailers and wholesalers

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3
Q

Define supply chain

A

“make and sell” view includes the firm’s raw materials, productive inputs, and factory capacity

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4
Q

Define demand chain

A

“sense and respond” view suggests that planning starts within the needs of the target customer

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5
Q

Define value delivery network

A

This is composed of the company, suppliers, distributors, and customers who partner with each other to improve the performance of the entire system

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6
Q

Define marketing channel (distribution channel)

A

This is a set of independent organisations that help make a product or service available for use or consumption by the consumer or business user

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7
Q

What is a benefit of market channel intermediaries?

A

They make buying easier for the consumer

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8
Q

Give an example of a marketing channel distributary

A

Grocery retailer

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9
Q

What are 8 ways in which channel members add value?

A 
Information
Promotion
Contact
Matching
Negotiation
Physical distribution
Finance 
Risk taking
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10
Q

Define channel level

A

This is a layer of intermediaries that performs some work in bringing the product and its ownership closer to the final buyer

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11
Q

Define direct marketing channel

A

This is a marketing channel that has no intermediary levels

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12
Q

Define indirect marketing channel

A

This is a marketing channel containing one or more intermediary levels

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13
Q

What happens when using direct channels?

A

The company sells directly to the consumer

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14
Q

What happens when using indirect channels?

A

The company uses one or more levels of intermediaries to help bring its products to the final buyers

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15
Q

Give 4 different flows that can help connect channels

A 
Physical flow of products
Flow of ownership
Payment flow
Information flow
Promotion flow
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16
Q

What do marketing channels consist of?

A

Firms that have partnered for their common good with each member playing a specialised role

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17
Q

Define channel conflict

A

This refers to disagreement among channel members over goals, roles and rewards

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18
Q

What are the two types of channel conflict?

A

Horizontal conflict

Vertical conflict

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19
Q

What do conventional distribution systems consist of?

A

These consist of one or more independent producers, wholesalers, and retailers, each separate business is seeking to maximise its own profits, perhaps at the expense of the profits for the system as a whole.

20
Q

What do vertical marketing systems do?

A

They provide channel leadership and consist of producers, wholesalers, and retailers acting as a unified system

21
Q

Give three examples of vertical marketing systems

A

Corporate marketing systems
Contractual marketing systems
Administered marketing systems

22
Q

Define corporate vertical marketing systems

A

These combine successive stages of production and distribution under single ownership

23
Q

Define contractual vertical marketing systems

A

These consist of independent firms at different levels of production and distribution who join together through contracts

24
Q

What is an administered vertical marketing system?

A

This is a VMS that coordinates successive stages of production and distribution through the size and power of one of the parties

25
Q

Define horizontal marketing system

A

This is a channel arrangement where two or more companies at one level join together to fellow a new marketing opportunity

26
Q

Define multi channel distribution systems

A

These are systems in which a single firm sets up two or more marketing channels to reach one or more customer segments

27
Q

What is disintermediation?

A

This is the cutting out of marketing channel intermediaries by producers or the displacement of traditional resellers by new intermediaries

28
Q

What are the 4 components of marketing channel design?

A

Analysing customer needs
Setting channel objectives
Identifying major channel alternatives
Evaluating channel alternatives

29
Q

What does analysing customer needs entail?

A

Find out what target consumers want from the channel
Identify market segments
Determine the best channel use
Minimise the cost of meeting customer service requirements

30
Q

What does setting channel objectives entail?

A

Determine targeted levels of customer service

Balance consumer needs against costs and customer price preferences

31
Q

What does identifying major alternatives entail?

A

Types of intermediaries

Number of intermediaries

32
Q

What does looking at the types of intermediaries involve?

A

Finding channel members able to carry out channel work

33
Q

What is an issue most companies face when looking at the types of intermediaries?

A

Most companies face many channel member choices

34
Q

What 3 things need to be looked at when deciding on the number of marketing intermediaries?

A

Intensive distribution
Exclusive distribution
Selective distribution

35
Q

What criteria are channel members responsible for?

A

Economic criteria
Control issues
Adaptability criteria

36
Q

What do producers and intermediaries need to agree on?

A

Price policies
Conditions of sale
Territory rights
Specific services

37
Q

What are the 4 stages in channel management decision?

A

1- selecting channel members
2- managing channel members
3- motivating channel members
4- evaluating channel members

38
Q

Define exclusive distribution

A

This is when the producer gives only a limited number of dealers the exclusive right to distribute its products in their territories

39
Q

Define exclusive dealing

A

This is when the seller requires that the exclusive distribution sellers not handle competitor’s products

40
Q

What are exclusive territorial agreements?

A

These are where producers or sellers limit territory

41
Q

What are tying agreements?

A

Agreements where the dealer must take all or most of the line

42
Q

What do marketing logistics involve?

A

This is physical distribution and involves planning, implementing and controlling the physical flow of goods, services and related information from points of origin to points of consumption to meet customer requirements at a profit

43
Q

What does supply chain management involve?

A

Managing upstream and downstream value-added flows of materials, final goods, and related information among suppliers, the company, resellers, and final consumers

44
Q

What is the goal of marketing logistics?

A

To provide a targeted level of customer service at the least cost

45
Q

What are the 3 types of logistics?

A

Inbound
Outbound
Reverse

46
Q

What is integrated logistics management?

A

The recognition that providing customer service and trimming distribution costs requires teamwork internally and externally

47
Q

What are 4 major logistics functions?

A

Warehousing
Inventory management
Logistics information management
Transportation

MKT1002 (17 decks)

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