Marketing Intermediaries and Distribution Systems: Terms and Definitions, Quizzes of Introduction to Business Management

Download Marketing Intermediaries and Distribution Systems: Terms and Definitions and more Quizzes Introduction to Business Management in PDF only on Docsity! TERM 1 Administered distribution system DEFINITION 1 A distribution system in which producers manage all of the marketing functions at the retail level TERM 2 Agents/brokers DEFINITION 2 Marketing Intermediaries who bring buyers and sellers together and assist in negotiating an exchange but don't take the title to the goods TERM 3 Cash-and-carry wholesaler DEFINITION 3 Wholesalers that serve mostly smaller retailers with a limited assortment of products TERM 4 Channel of distribution DEFINITION 4 A whole set of marketing intermediaries such as agents, brokers, wholesalers, and retailers, that join together to transport and store goods in their path (or channel) from producers to consumers TERM 5 Contractual distribution system DEFINITION 5 A distribution system in which members are bound to cooperate through contractual agreements TERM 6 Corporate distribution system DEFINITION 6 A distribution system in which all of the organization in the channel of distribution are owned by one firm TERM 7 Direct marketing DEFINITION 7 Any activity that directly links manufacturers or intermediaries with the ultimate consumer TERM 8 Direct selling DEFINITION 8 Selling to consumers in their homes or where they work TERM 9 Drop shippers DEFINITION 9 Wholesalers that solicit orders from retailers and other wholesalers and have the merchandise shipped directly from a producer to a buyer TERM 10 Electronic retailing DEFINITION 10 Selling goods and services to ultimate customers over the internet TERM 21 Outbound logistics DEFINITION 21 The area of logistics that involves managing the flow of finished products and information to business buyers and ultimate consumers (people like you and me) TERM 22 Place utility DEFINITION 22 Adding value to products by having them where people want them TERM 23 Possession utility DEFINITION 23 Doing whatever is necessary to transfer ownership from one party to another, including providing credit, delivery, installation, guarantees, and followup services TERM 24 Rack jobbers DEFINITION 24 Wholesalers that furnish racks or shelves full of merchandise to retailers, display products, and sell on consignment TERM 25 Retailer DEFINITION 25 An organization that sells to ultimate consumers TERM 26 Reverse logistics DEFINITION 26 The area of logistics that involves bringing goods back to the manufacturer because of defects or for recycling materials TERM 27 Selective distribution DEFINITION 27 Distribution that sends products to only a preferred group of retailers in an area TERM 28 Service utility DEFINITION 28 Adding value by providing fast, friendly service during and after the sale and by teaching customers how to best use products over time. TERM 29 Supply chain (or value chain) DEFINITION 29 The sequence of linked activities that must be performed by various organizations to move goods from the sources of raw materials to ultimate consumers TERM 30 Supply-chain management DEFINITION 30 the process of managing the movement of raw materials, parts, work in progress, finished goods, and related information through all the organization involved in the supply chain; managing the return of such goods, if necessary; and recycling materials when appropriate TERM 31 Telemarketing DEFINITION 31 The sale of goods and services by telephone TERM 32 Time utility DEFINITION 32 Adding value to products by having them when people want them TERM 33 Wholesaler DEFINITION 33 A marketing intermediary that sells to other organizations