Marketing Exam 4: Chapter 10
List the four variables used to classify retailers.
1. amount of service offered 2. breadth and depth 3. relative prices 4. way they are organized
Logistics Information Management can be shared and managed through what two things?
1. electronic data interchange (EDI) 2. vendor-managed inventory (VMI) which is a continuous inventory replenishment system
What are the four parts of the retail marketing mix?
1. product and service assortment 2. retail prices 3. promotion 4. distribution (location)
List the five different types of shopping centers.
1. regional shopping center 2. community shopping center 3. neighborhood shopping center 4. power center 5. lifestyle center
What are the two parts of the retail strategy?
1. retail segmentation and targeting 2. store differentiation and positioning
What percentage of a product's cost do supply chains account for?
75%
What are the three types of Vertical Marketing Systems?
corporate, contractual, and administered
What is the goal of marketing logistics?
deliver a targeted level of customer service at the least cost
This type of store carries several product lines and each line is operated as a separate department...
department stores
A channel level with no intermediary levels is known as what?
direct marketing channel
This type of store sells goods at lower prices with lower margins and higher volumes...
discount stores
This occurs when product or service producers cut out marketing channel intermediaries.
disintermediation
What concept occurs when product or service producers cut out marketing channel intermediaries or when radically new types of channel intermediaries displace traditional ones?
disintermediation
People who serves as distribution channels that link the firm and its customers are known as?
downstream partners
Channel levels with one or more intermediary levels is known as what?
indirect marketing channels
This is known as delivering a targeted level of customer service at the least cost.
logistics
Interdependent organizations that help make a product or service available for use or consumption are known as what?
marketing channels (distribution channels)
Transforming the assortments of products made by producers into the assortments wanted by consumers is the role of what?
marketing intermediaries
Combining two or more modes of transportation is known as what?
multi-modal transportation
This type of store sells merchandise bought at less-than-regular wholesale prices and sold at less than retail...
off-price retailer stores
This consists of one or more independent producers, wholesalers, and retailers.
Conventional distribution channel
Conflict that occurs among firms at the same level of the channel is known as what?
horizontal conflict
Two or more companies at one level join together to follow a new marketing opportunity: this is known as what?
Horizontal Marketing System
What does JIT stand for?
Just In Time
Flows of information closely linked to a channel's performance is known as what?
Logistics Information Management
What is the difference between a retailer and a wholesaler?
Retailers sell to consumers directly and wholesalers sell to consumers and businesses
How does Netflix stay ahead of the competition?
Through innovation and revolutionizing distribution
What is an example of a company who uses RFID?
UPS
Producers, wholesalers, and retailers act as a unified system in what?
Vertical marketing system (VMS)
The four aspects of marketing channel design include...?
analyzing, setting, identifying, evaluating
Disagreements among marketing channel members on goals, roles, and rewards are known as what?
channel conflict
A layer of intermediaries that performs work in bringing the product and its ownership closer to the final buyer is known as what?
channel level
Information, promotion, contact, matching, and negotiation are key functions that help _____________.
complete transactions
What is the keyword associated with the place "P"?
conflict
Producers create greater efficiency through what four things?
contacts, experience, specialization, and scale of operation
This type of store carries a limited line of high-turnover convenience products at slightly higher prices...
convenience store
In a _____________, each member is a separate business seeking to maximize its own profits even at the expense of profits for the system as a whole.
conventional distribution channel
What are some advantages of multi-channel distribution systems?
expansion of sales and marketing coverage, tailor-made products and services for the specific needs of customer segments
Physical distribution, financing, and risk taking are key functions that help ___________.
fulfill the completed transactions
Producers use intermediaries to create _______ ________ in making goods available to target markets.
greater efficiency
What are some disadvantages?
harder to control, generates conflict
What is RFID?
radio frequency identification
The bottom line of logistics is getting the _______ product to the _______ customer in the _______ place at the _______ time.
right, right, right, right
List the three different levels of service associated with retailers.
self-service retailers, limited-service retailers, full-service retailers
This type of store carries a narrow product line with a deep assortment...
specialty stores
What are the two types of warehouses?
storage and distribution
What are the two different types of warehousing?
storage, distribution
This type of store is large, low-cost, low-margin, high-volume, self-service operation...
supermarket
This type of store is a very large store for routinely purchased items...
superstore
What are the major trends in retailing?
tighter consumer spending, growth of social media, showrooming, growth in retail technology, green retailing, global expansion
Channel members add value by bridging the major _______, _______, and ________ gaps that separate goods and services from users.
time, place, and possession
T/F: Intermediaries are also called middlemen and include wholesalers and retailers.
true
People who supply the raw materials, components, parts, information, finances, and expertise needed to create a product or service are known as?
upstream partners
Company, suppliers, distributors, and customers who partner with each other to improve the performance of the entire system is known as what?
value delivery network
Conflict that occurs between different levels of the same channel is known as what?
vertical conflict
Logistic functions for supply chain management include what four things?
warehousing, inventory management, transportation, logistics information management
All the activities in selling goods and services to those buying for resale or business use are known as?
wholesaling