MKT 320F Exam 3 Vocabulary with complete solutions 2024_2025.
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Course
MKT 320F
Institution
MKT 320F
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
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MKT 320F Exam 3 Vocabulary with
complete solutions 2024/2025
place - ANSWER- making goods and services available in the right quantities and
locations--when customers want them
channel of distribution - ANSWER- any series of firms or individuals who
participate in the flow of products from producer to final user or consumer
direct marketing - ANSWER- direct communication between a seller and an
individual customer using a promotion method other than face-to-face personal
selling
discrepancy of quantity - ANSWER- 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 - ANSWER- the difference between the lines a typical
producer makes and the assortment final consumers or users want
regrouping activities - ANSWER- adjusting the quantities or assortments of
products handled at each level in a channel of distribution
accumulating - ANSWER- collecting products from many small producers
bulk-breaking - ANSWER- dividing larger quantities into smaller quantities as
products get closer to the final market
sorting - ANSWER- separating products into grades and qualities desired by
different target markets
assorting - ANSWER- putting together a variety of products to give a target
market what it wants
, traditional channel systems - ANSWER- a channel in which the various channel
members make little or no effort to cooperate with each other
channel captain - ANSWER- a manager who helps direct the activities of a whole
channel and tries to avoid, or solve, channel conflicts
vertical marketing systems - ANSWER- channel systems in which the whole
channel focuses on the same target market at the end of the channel
corporate channel systems - ANSWER- corporate ownership all along the channel
vertical integration - ANSWER- acquiring firms at different levels of channel
activity
administered channel systems - ANSWER- various channel members informally
agree to cooperate with each other
contractual channel systems - ANSWER- various channel members agree by
contract to cooperate with each other
ideal market exposure - ANSWER- when a product is available widely enough to
satisfy target customers' needs but not exceed them
intensive distribution - ANSWER- selling a product through all responsible and
suitable wholesalers or retailers who will stock or sell the product
selective distribution - ANSWER- selling through only those intermediaries who
will give the product special attention
exclusive distribution - ANSWER- selling through only one intermediary in a
particular geographic area
multichannel distribution - ANSWER- when a producer uses several competing
channels to reach the same target market--perhaps using several intermediaries
in addition to selling directly
reverse channels - ANSWER- channels used to retrieve products that customers
no longer want
exporting - ANSWER- selling some of what the firm produces to foreign markets
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