Marketing 301 Chapter 14- Final

Marketing Channel
a set of interdependent organizations that eases the transfer of ownership as products move from producer to business user or consumer
Retailer
a channel intermediary that sells mainly to consumers
Merchant Wholesaler
an institution that buys goods from manufacturers and resells them to businesses, government agencies, and other wholesales or retailers and that receives and takes title to goods, stores them in its own warehouses and later ships them
Logistics
is the management of the flow of things between the point of origin and the point of consumption in order to meet requirements of customers or corportations
Channel power
the capacity of a particular marketing channel member to control of influence the behavior of other channel members
channel control
a situation that occurs when one marketing channel member intentionally affects another member’s behavior
channel leader
a member of a marketing channel that exercises authority and power over the activities of other channel members
channel conflict
a clash of goals and methods between distribution channel members
Agent/Broker
wholesaling intermediaries who do not take title to a product but facilitate its sale from producer to end user by representing retailers, wholesalers, or manufacturers
Specialization/Division of Labor
a method of production where a business or area focuses on the production of a limited scope of products or services in order to gain greater degrees of productive efficiency within the entire system of businesses or areas
independent retailer
is a retailer owned by a single person or group and is not operated as part of a large network
chain stores
is part of a group of the same stores owned and operated by a single organization
franchise
is a business where the operator is granted a license to operate and sell a product under a larger supporting organization
level of service
range from full-service to self-service, etc. exclusive clothing stores have a high level of service where outlets have virtually none
product assortment
some stores are very focused to sell on type of product, others have a wide variety. (Gamestop vs. Walmart0
price
some stores such as department stores have full retail price where factory outlets have low prices
Gross Margin
how much retailer makes as a percentage of sales after the cost of goods sold is subtracted
Retailing Mix
a combination of the 6 p’s (product, place, promotion, price, presentation, and personnel) to sell goods and services to the ultimate consumer
Non-store retailing
shop without visiting a store
Direct Marketing
techniques used to get consumers to make purchase from their home, office, or other non-retail setting
Direct Retailing
the selling of products by representatives who work door-to-door, or at home sales parties