place️️making goods and services available in the right quantities and locations--when
customers want them
channel of distribution️️any series of firms or individuals who participate in the flow of
products from producer to final user or consumer
direct marketing️️direct communicati...
MKT 320F Exam 3 Vocabulary with comprehensive Questions and
Answers
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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