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MKT 320F Exam 3 Vocabulary -Questions with Correct Answers/ Verified/ latest Version (2024/2025)
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MKT 320F Exam 3 Vocabulary -Questions with Correct Answers/ Verified/ latest Version (2024/2025)
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MKT 320F Exam 3 Vocabulary -Questions with Correct Answers/Verified/ latest Version (2024/2025)
place - ✔✔making goods and services available in the right quantities and locations--when
customers want them
channel of distribution - ✔✔any series of firms or individuals who participate in the flow of
products from producer to final user or consumer
direct marketing - ✔✔direct communication between a seller and an individual customer
using a promotion method other than face-to-face personal selling
discrepancy of quantity - ✔✔the difference between the quantity of products it is
economical for a producer to make and the quantity final users or consumers normally want
discrepancy of assortment - ✔✔the difference between the lines a typical producer makes
and the assortment final consumers or users want
regrouping activities - ✔✔adjusting the quantities or assortments of products handled at
each level in a channel of distribution
accumulating - ✔✔collecting products from many small producers
bulk-breaking - ✔✔dividing larger quantities into smaller quantities as products get closer to
the final market
sorting - ✔✔separating products into grades and qualities desired by different target
markets
assorting - ✔✔putting together a variety of products to give a target market what it wants
, traditional channel systems - ✔✔a channel in which the various channel members make
little or no effort to cooperate with each other
channel captain - ✔✔a manager who helps direct the activities of a whole channel and tries
to avoid, or solve, channel conflicts
vertical marketing systems - ✔✔channel systems in which the whole channel focuses on the
same target market at the end of the channel
corporate channel systems - ✔✔corporate ownership all along the channel
vertical integration - ✔✔acquiring firms at different levels of channel activity
administered channel systems - ✔✔various channel members informally agree to cooperate
with each other
contractual channel systems - ✔✔various channel members agree by contract to cooperate
with each other
ideal market exposure - ✔✔when a product is available widely enough to satisfy target
customers' needs but not exceed them
intensive distribution - ✔✔selling a product through all responsible and suitable wholesalers
or retailers who will stock or sell the product
selective distribution - ✔✔selling through only those intermediaries who will give the
product special attention
exclusive distribution - ✔✔selling through only one intermediary in a particular geographic
area
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