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