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Vocab quiz 08
Marketing Vocab 08
25
Marketing
Undergraduate 3
10/16/2009

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Term
Administered VMS
Definition
A vertical marketing system that coordinates successive stages of production and distribution through the size and power of one of the parties.
Term
Agent/Broker
Definition
A representative that brings buyers and sellers together, assists in the negotiations, never takes title to the merchandise, and generally receives some form of compensation from the seller.
Term
Channel conflict
Definition
Any disagreement among distribution channel members about some aspect[s] of the program[s] or their implementation
Term
Channel control
Definition
The ability to manage the efforts of channel members to get them to do what you want them to do.
Term
Channel map
Definition
A diagram that shows the flow[s] of product from the originator of the product to the consumer.
Term
Channel of distribution
Definition
A set of interdependent organizations involved in the process of making a product or service available for use or consumption by the ultimate customer.
Term
Contractual VMS
Definition
A vertical marketing system in which independent firms at different levels of production and distribution join together through contracts to obtain more economies of scale for the benefit of all
Term
Corporate VMS
Definition
A VMS that combines successive stages of production and distribution under single ownership assuring channel leadership and control.
Term
Dealer
Definition
In most channels this is a small volume reseller.
Term
Direct marketing channel
Definition
A distribution channel that has no intermediaries.
Term
Distributor
Definition
A firm that primarily purchases products from the manufacturer level of a channel of distribution and sells to mostly lower level [smaller volume] channel members.
Term
Exclusive distribution
Definition
A type of distribution system where there is a single reseller with the right to distribute some or all of the company's products in a specific territory.
Term
Expectation of a channel member
Definition
The performance level of a channel member as viewed by a different channel level.
Term
Franchise
Definition
A contractual association between a franchisor and independent businesspeople [franchisees] who buy the right to own and operate one or more units.
Term
Horizontal marketing system
Definition
A distribution channel arrangement in which two or more companies at one level join together to pursue a marketing opportunity like banks in grocery stores.
Term
Hybrid marketing system
Definition
A multichannel distribution system where a single firm establishes two or more distribution channels to reach a market [segment].
Term
Indirect marketing channel
Definition
A distribution channel containing at least one intermediary.
Term
Intensive distribution
Definition
A type of distribution system where the seller wants the product in as many outlets as possible.
Term
Logistics
Definition
The discipline that is responsible for cost-effectively getting the right products, in the right configuration, to the right place, at the right time, and sometimes in the right sequence.
Term
Manufacturer's agent / rep[resentative]
Definition
An entity that usually represents two or more manufacturers product lines, very rarely takes title to the merchandise, and is paid a commission.
Term
Merchant wholesaler
Definition
A firm primarily involved in wholesaling activity.
Term
Product mix
Definition
The set of all product lines and items that a particular company offers for sale.
Term
Retailer
Definition
A firm that sells primarily directly to consumers.
Term
Role of a channel member
Definition
The function[s] a channel member is expected to perform
Term
Selective distribution
Definition
A type of distribution system that uses the best qualified intermediaries who are willing to carry the company's products.
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