Marketing 300 Exam 3 Questions and Answers
Distinction Graded
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 communications 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
-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 quantities desired by different target
markets
-assorting - -putting together a variety of products to give a target market what it wants
-channel captain - -a manager who helps direct the activities of a whole channel and tries
to avoid or solve 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
-contractual channel systems - -the channel members agree by contract to cooperate with
each other
-ideal market exposure - -makes a product 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
-multichannel distribution - -occurs when a producer uses several competing channels to
reach the same target market — perhaps using several intermediaries in addition to selling
directly
-reverse channels - -channels used to retrieve products that customers no longer want
-licensing - -selling the right to use some process, trademark, patent, or other right for a
fee or royalty
-logistics - -transporting, storing, and handling of goods in ways that match target
-physical distribution - -another common name for logistics
-customer service level - -how rapidly and dependably a firm can deliver what they, the
customers, want
-physical distribution concept - -says that all transporting, storing, and product-handling
activities of a business and a whole channel system should be coordinated as one system
that seeks to minimize the cost of distribution for a given customer level
-total cost approach - -involves evaluating each possible PD system and identifying all of
the costs of each alternative
-supply chain - -the complete set of firms and facilities and logistics activities that are
involved in procuring materials, transforming them into intermediate or finished products,
and distributing them to customers.
-electronic data interchange (EDI) - -an approach that puts information in a standardized
format easily shared between different computer systems
-transporting - -the marketing function of moving goods
-containerization - -grouping individual items into an economical shipping quantity and
sealing them in protective containers for transit to the final destination
Distinction Graded
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 communications 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
-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 quantities desired by different target
markets
-assorting - -putting together a variety of products to give a target market what it wants
-channel captain - -a manager who helps direct the activities of a whole channel and tries
to avoid or solve 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
-contractual channel systems - -the channel members agree by contract to cooperate with
each other
-ideal market exposure - -makes a product 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
-multichannel distribution - -occurs when a producer uses several competing channels to
reach the same target market — perhaps using several intermediaries in addition to selling
directly
-reverse channels - -channels used to retrieve products that customers no longer want
-licensing - -selling the right to use some process, trademark, patent, or other right for a
fee or royalty
-logistics - -transporting, storing, and handling of goods in ways that match target
-physical distribution - -another common name for logistics
-customer service level - -how rapidly and dependably a firm can deliver what they, the
customers, want
-physical distribution concept - -says that all transporting, storing, and product-handling
activities of a business and a whole channel system should be coordinated as one system
that seeks to minimize the cost of distribution for a given customer level
-total cost approach - -involves evaluating each possible PD system and identifying all of
the costs of each alternative
-supply chain - -the complete set of firms and facilities and logistics activities that are
involved in procuring materials, transforming them into intermediate or finished products,
and distributing them to customers.
-electronic data interchange (EDI) - -an approach that puts information in a standardized
format easily shared between different computer systems
-transporting - -the marketing function of moving goods
-containerization - -grouping individual items into an economical shipping quantity and
sealing them in protective containers for transit to the final destination
