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Marketing Management Ch 11
Basic Marketing Chapter 11 Vocab
28
Marketing
Undergraduate 3
02/21/2012

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Term
Place
Definition
making goods and services available in the right quantities and locations, when customers want them.
Term
channel of distribution
Definition
any series of firms or individuals who participate in the flow of products from producer to final user or consumer.
Term
direct marketing
Definition
direct communication between a seller and an individual customer using a promotion method other than face-to-face personal selling.
Term
Discrepancy of Quantity
Definition
means the difference between the quantity of products it is economical for a producer to make and the quantity final users normally want
Term
Discrepancy of assortment
Definition
means the difference between the lines a typical producer makes and the assortment final consumers or users want
Term
Regrouping activities
Definition
adjust the quantities or assortments of products handled at each level in a channel of distribution
Term
Accumulating
Definition
involves collecting products from many small producers.
Term
Bulk-breaking
Definition
involves dividing larger quantities into smaller quantities as products get closer to the final market
Term
Sorting
Definition
seperating products into grades and qualities desired by different target markets
Term
Assorting
Definition
putting together a variety of products to give a target market what it wants
Term
traditional channel systems
Definition
the various channel members make little or no effort to cooperate with each other
Term
channel captain
Definition
a manager who helps direct the activites of a whole channel and tries to avoid or solve channel conflicts
Term
Vertical marketing systems
Definition
channel systems in which the whole channel focuses on the same target market at the end of the channel
Term
Corporate channel systems
Definition
corporate ownership all along the channel
Term
vertical integration
Definition
acquiring firms at different levels of channel activity
Term
administered channel systems
Definition
the channel members informally agree to cooperate with each other
Term
contractual channel systems
Definition
the channel members agree by contract to cooperate with eachother
Term
ideal market exposure
Definition
makes a product available widely enough to satisfy target customers' needs but not exceed them
Term
Intensive distribution
Definition
selling a product through all responsible and suitable wholesalers or retailers who will stock or sell the product.
Term
Selective distribution
Definition
selling through only those intermediaries who will give the product special attention.
Term
Exclusive distribution
Definition
selling through only one intermediary in a particular geographic area
Term
Multichannel distribution
Definition
occurs when a producer uses several competing channels to reach the same target market
Term
reverse channels
Definition
channels used to retrieve products that customers no longer want.
Term
exporting
Definition
selling some of what the firm produces to foreign markets
Term
Licensing
Definition
selling the right to use some process, trademark, patent, or other right for a fee or royalty.
Term
Management contracting
Definition
means that the seller provides only management and marketing skills
Term
joint venture
Definition
a domestic firm enters into a partnership with a foreign firm
Term
Direct investment
Definition
means that a parent firm has a division (or owns a seperate subsidiary firm) in a foreign market. This gives the parent firm complete control of marketing strategy planning.
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