BusinessCh15.txt

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Koneko
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145737
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BusinessCh15.txt
Updated:
2012-04-04 16:29:53
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Business
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Description:
key terms from chapter fifteen - Nickels, W.G., 2010. Understanding Business. McGraw-Hill Companies, Inc: New York. ed9, p. 400-427.
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  1. Define: marketing intermediaries
    organizations t hat assist in moving goods and services from producers to businesses (B2B) and from businesses to consumers (B2C) (p. 402)
  2. Define: channel of distribution
    a whole set of marketing intermediaries,such as agents, brokers, wholesalers,and retailers,that join together to transport and store goods in their path (or channel) from producers to consumers (p. 402)
  3. Define: agents/brokers
    marketing intermediaries who bring buyers and sellers together and assist in negotiating an exchange but don't take title to the goods (p. 403)
  4. Define: wholesaler
    a marketing intermediary that sells to other organizations (p. 403)
  5. Define: retailer
    an organization that sells to ultimate consumers (p. 403)
  6. Define: utility
    in economics, the want-satisfying ability, or value, that organizations add to goods or services (p. 407)
  7. Define: time utility
    adding value to products by making them available when they're needed (p. 407)
  8. Define: place utility
    adding value to products by having them where people want them (p. 407)
  9. Define: possession utility
    doing whatever is necessary to transfer ownership from one party to another, including providing credit, delivery, installation, guarantees, and follow-up service (p. 408)
  10. Define: information utility
    adding value to products by opening two-way flows of information between marketing participants (p. 408)
  11. Define: service utility
    adding value by providing fast, friendly service during and after the sale and by teaching customers how to best use products over time (p. 408)
  12. Define: merchant wholesaler
    independently owned firms that take title to the goods they handle (p. 409)
  13. Define: rack jobbers
    wholesalers that furnish racks or shelves full of merchandise to retailers, display products, and sell on consignment (p. 409)
  14. Define: cash-and-carry wholesalers
    wholesalers that serve mostly smaller retailers with a limited assortment of products (p. 409)
  15. Define: drop shippers
    wholesalers that solicit orders from retailers and other wholesalers and have the merchandise shipped directly from a producer to a buyer (p. 409)
  16. Define: intensive distribution
    distribution that puts products into as many retail outlets as possible (p. 412)
  17. Define: selective distribution
    distribution that sends products to only a preferred group of retailers in an area (p. 412)
  18. Define: exclusive distribution
    distribution that sends products to only one retail outlet in a given geographic area (p. 412)
  19. Define: electronic retailing
    selling goods and services to ultimate customers (e.g., you and me) over the Internet (p. 412)
  20. Define: telemarketing
    the sale of goods and services by telephone (p. 413)
  21. Define: direct selling
    selling to consumers in their homes or where they work (p. 414)
  22. Define: direct marketing
    any activity that directly links manufacturers or intermediaries with the ultimate consumer (p. 414)
  23. Define: corporate distribution system
    a distribution system in which all of the organizations in the channel of distribution are owned by one firm (p. 415)
  24. Define: contractual distribution system
    a distribution system in which members are bound to cooperate through contractual agreements (p. 415)
  25. Define: administered distribution system
    a distribution system in which producers manage all of the marketing functions at the retail level (p. 416)
  26. Define: supply chain (or value chain)
    the sequence of linked activities that must be performed by various organizations to move goods from the sources of raw materials to ultimate consumers (p. 416)
  27. Define: supply-chain management
    the process of managing the movement of raw materials, parts, work in progress, finished goods, and related information through all the organizations involved in the supply chain; managing the return of such goods, if necessary; and recycling materials when appropriate (p. 416)
  28. Define: logistics
    the marketing activity that involves planning, implementing, and controlling the physical flow of materials, final goods, and related information from points of orgin to points of consumption to meet customer requirements at a profit (p. 418)
  29. Define: inbound logistics
    the area of logistics that involves bringing raw materials, packaging, other goods and services, and information from suppliers to producers (p. 418)
  30. Define: materials handling
    the movement of goods within a warehouse, from warehouses to the factory floor, and from the factory floor to various workstations (p. 418)
  31. Define: outbound logistics
    the area of logistics that involves managing the flow of finished products and information to business buyers and ultimate consumers (people like you and me) (p. 419)
  32. Define: reverse logistics
    the area of logistics that involver bringing goods back to the manufacturer because of defects or for recycling materials (p. 419)
  33. Define: freight forwarder
    an organization that puts many small shipments together to create a single large shipment that can be transported cost-effectively to the final destination (p. 419)
  34. Define: intermodal shipping
    the use of multiple modes of transportation to complete a single long-distance movement of freight (p. 421)

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