final (chapter 10)

Question 1

what is a marketing channel

Answer 1

consists of individuals and firms involved in
the process of making a product or service available

Question 2

what are intermediaries

Answer 2

Individuals or firms performing a role in the marketing channel, involved in making a product available

Question 3

whats a middle man

Answer 3

just another name for intermediary

Question 4

whats an agent or broker

Answer 4

any intermediary with legal authority to act on behalf of another cannel member (for example, a manufacturer)

Question 5

whats a wholesaler

Answer 5

any intermediary who sells goods to other intermediaries, usually to retailers - this usually applies to intermediaries who deal in consumer goods

Question 6

whats a retailer

Answer 6

any intermediary who sells goods to consumers

Question 7

whats a distributor

Answer 7

intermediaries who preform a variety of functions, including selling, maintaining inventories, extending credit. usually used for those in business markets

Question 8

whats a dealer

Answer 8

a general term that can mean the same as a distributor, a retailer, or a wholesaler

Question 9

what is a dual distributor

Answer 9

a firm reaches different
buyers by using two or more different types of
channels for the same basic product

Question 10

what is a transactional function

Answer 10

Buying: Purchasing products for resale. Selling: Contacting potential customers, promoting products,
and seeking orders. Risk-taking: Assuming business risks in the ownership of
inventory

Question 11

whats a logistical function

Answer 11

Selection: Putting together a selection of products from several different sources. Storing: Assembling and protecting products at a convenient location. Sorting: Purchasing in large quantities and dividing into smaller
amounts. Transporting: Physically moving a product to customers

Question 12

what is facilitating function

Answer 12

Financing: Extending credit to customers. Marketing information and research: Providing information to
customers and suppliers, including competitive conditions and
trends

Question 13

what is multichannel marketing

Answer 13

blending of different communication and delivery channels that are
mutually reinforcing in attracting, retaining, and building relationships with consumers

Question 14

what are three main factors that affect channel choice

Answer 14

Market (Geographic, number of potential customers, type of market, order size), product (technical factors, perishability, unit value, product life cycle), company (financial resources, ability of management, desire for channel control)

Question 15

whats intensive, exclusive and selective distribution?

Answer 15

intensive: as many outlets as possible. Exclusive: opposite of intensive. Selective: lies between intensive and exclusive.

Question 16

what are logistics

Answer 16

activities that focus on getting the right amount of the right products to the right place at the right time at the lowest possible price

Question 17

what are key logistics functions in a supply chain

Answer 17

transportation, order processing, inventory management, warehousing

Question 18

what are reverse logistics

Answer 18

reclaiming recyclable and reusable materials for repair.