marketing chapt 12
The individuals or firms involved in making products available to users are collectively called a ____.
Marketing channel.
A system that uses electronic data to streamline reordering is a ____ system.
Quick response delivery.
The time between ordering an item and when it is received and ready for use is called ____.
Replenishment time (or Order cycle).
Dell's build-to-order model is an example of a ____ supply chain.
Responsive.
An intermediary who sells directly to consumers is called a ____.
Retailer.
What distribution strategy uses a limited number of retailers in a geographic area?
Selective distribution.
The entire sequence of firms from raw materials to the end consumer is a ____.
Supply chain.
What are the two primary, often competing, goals in supply chain design?
To be efficient and to be responsive.
What is the primary purpose of a marketing channel?
To make possible the flow of products and services from a producer, through intermediaries, to a buyer.
Expenses for transportation, warehousing, and order processing are included in ____.
Total logistics costs.
What are the three universal functions performed by intermediaries?
Transactional, Logistical, and Facilitating.
In a ____ inventory system, the supplier manages the customer's inventory and automatic restocking.
Vendor-managed (VMI).
What type of conflict occurs between different levels of the same channel (e.g., manufacturer vs. retailer)?
Vertical conflict.
An intermediary that buys from manufacturers and resells to retailers is a ____.
Wholesaler.
An intermediary who sells to other intermediaries (like retailers) is called a ____.
Wholesaler.
What is the broad term for an intermediary between a manufacturer and the user?
A distributor.
A system coordinated by the size and power of one member is a ____ VMS.
Administered vertical.
What type of intermediary brings a seller and buyer together but does not take title to the products?
Agent (or Broker).
What are the two types of intermediaries with legal authority to act on behalf of a manufacturer?
Agent and Broker.
What are the three key elements of dependability in supply chain customer service?
Consistent lead time, Complete delivery, and Safe delivery.
Franchising is a type of ____ VMS.
Contractual vertical.
A system where successive stages are owned by one company is a ____ VMS.
Corporate vertical.
What are the three major types of vertical marketing systems (VMS)?
Corporate, Administered, and Contractual.
The main reason manufacturers use intermediaries is that they ____ for buyers.
Create value.
What term refers to the ability of logistics to satisfy users in terms of time, dependability, communication, and convenience?
Customer service.
What are the two fundamental types of marketing channels?
Direct and Indirect.
A channel with no intermediaries is called a ____ channel.
Direct.
What is it called when a manufacturer bypasses a retailer to sell directly to the consumer?
Disintermediation.
What is an arrangement where a firm uses two or more different channels for the same product called?
Dual distribution.
What is the most limited distribution level, often used by luxury brands?
Exclusive distribution.
A channel with one or more intermediaries is called a ____ channel.
Indirect.
What distribution strategy places products in as many outlets as possible?
Intensive distribution.
What are the three degrees of distribution density?
Intensive, Selective, and Exclusive.
What is the business function focused on getting the right products to the right place at the right time at the lowest cost?
Logistics.
An efficient supply chain prioritizes ____, while a responsive supply chain prioritizes ____.
Low cost / Flexibility and speed.
