MARKETING: PLACE AND PROMOTION Flashcards
(30 cards)
Channels of distribution include?
marketing intermediaries, such as wholesalers, agents, brokers, and retailers.
Marketing intermediaries are?
organizations that help companies get their products or services from producers to consumers or businesses.
Agents or brokers are?
marketing intermediaries who bring buyers and sellers together and assist in negotiating terms of exchange.
A wholesaler is?
a marketing intermediary that sells to retailers, manufacturers, and institutions, such as hospitals.
A retailer is?
an organization that sells directly to consumers.
Fullservice wholesalers perform?
all the distribution functions.
Limited-function wholesalers specialize in?
selected functions.
Rack jobbers provide?
shelves full of merchandise to retailers on consignment.
That is, they keep title to their goods until they’re sold and share the profits with retailers.
Health and beauty aids are an example of rack jobber merchandise lines.
Cash-and-carry wholesalers mainly serve?
small retails shops.
The term “cash-and-carry” refers to a time when retailers went to the wholesaler, purchased goods, and transported them to their store.
Drop shippers solicit orders from?
retailers or other wholesalers and have them shipped directly from the producer to the purchaser.
Agents may represent?
talent (athletes, actors, or entertainers).
Sales agents may represent?
one or more manufacturing firms or one or more service firms. Agents maintain long-term working relationships with their clients and are compensated by fees, expense allowances, and commissions.
Brokers are also compensated by?
commissions, negotiate contracts between buyers and sellers on a contingent basis. That is, their services are required only to close a deal. In the context of merchandise marketing, brokers often help negotiate commodity deals— like contracts with buyers for seasonal goods like fruits and vegetables.
The most important marketing intermediaries are?
retailers
Logistics is?
the art and science of planning, implementing, coordinating, and controlling the flow of materials, goods, and related information from points of origin to points of consumption.
Modes and methods of transportation are?
a vital aspect of logistics
Supply chain management is?
the process of moving goods and materials from one place to another
There are five major ways in which retailers compete for the consumer’s dollar:
price, service, location, selection, and entertainment
There are three categories of retail distribution?
- Intensive distributionplaces products in as many outlets as possible. Mars candies and Coca-Cola are examples.
- Selective distributionplaces products in generally upscale outlets to assure quality and service. Godiva chocolates and designer clothing are examples.
- In exclusive distribution,only one outlet serves a given geographic area. Exclusive selling rights are granted to the selected retailer. While this strategy is mainly characteristic of upscale products, it may also apply to midrange chain-store pricing. Martha Stewart everyday ware, for example, is offered exclusively through Kmart.
Data refers to?
to unorganized facts or figures.
Data processing is?
computer-based information processing.
Information technology (IT)refers to?
the many ways in which electronically encoded information can be processed and transmitted.
Computers, computer networks, and the global interfaces of digitally processed information via the World Wide Web, the Internet, and cell phone technology that enable instant messaging (IM) of words and images are all aspects of information technology.
E-businessrefers to?
accessing, posting, sharing, and exchanging any kind of business information.
What is(LAN)?
local area network
