Business Logistics Chapter 3 Reviewed

Business Logistics Chapter 3 Reviewed From the perspective of a company's overall supply chain, a customer is another __________________ in a Business-to-Business market - company From perspective of a specific firm within a supply chain, a customer is an ____________________________________ between the firm and end users - intermediate customer organization From perspective of a logistics manager at a company, a customer is ___________________________________ - any delivery location True/False Customer needs and requirements are more basic than the products and services being offered - True Why did Blockbuster go out of business? - Among other things, they lost sight of what business they were actually in. They though they were in the business of renting and selling audio and videotapes, CD's and DVD's. They made most of their money from late fees. They were really in the consumer entertainment business. Profit is more important than __________________________ - sales volume transactional vs relationship marketing - Transactional: A traditional strategy with a focus on creating successful individual transactions between the company and its customers (i.e., once-off) Relationship: A new strategy with a focus on the development of long-term relations with key supply chain participants in an effort to develop and retain long-term preference and loyalty (i.e., on-going) Micromarketing or One-to-One Marketing recognizes that each individual customer may have ______________________________ - unique requirements What are the 4 discrepencies that mst be overcome through the logistics process to enable the basic exchange of goods and services - Space (overcome by transportation), time (overcome by warehousing), quantity (overcome by inventory management), assortment (overcome by inventory) ____________________________________ is the amount of shopping around time and effort that will be required on the part of the customer [increased outlets and channels] - Spatial convenience ______________________ is the amount of time the customer must wait between placing an order and receiving the product [expedited convenience -vs- price] - Waiting time