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Marketing Chapter 12 (Exam 3)

How is customer service related to logistics management?
A firm must drive down logistics costs as long as it can still satisfy customer requirements.
The three major types of vertical marketing systems are administered, contractual, and __________.
A marketing channel refers to
individuals and firms involved in the process of making a good or service available for use or consumption by consumers or industrial users.
Total logistic cost factors in a supply chain include transportation, order processing, stockout, inventory, returns, and __________.
warehousing and materials handling.
A channel intermediary that acts on behalf of the seller but does not take title to products is called a(n)
agent or broker.
Marketing Channel
individuals and firms involved in the process of making a product or service available for use or consumption by consumers or industrial users
Facilitating Functions
make a transaction easier for buyers
Time Utility
having a product or service when you want it
Form Utility
enhancing a product or service to make it more appealing to buyers
Possession Utility
efforts by intermediaries to help buyers take possession of a product or service, such as having airline tickets delivered by a travel agency
Direct Channel
Producer to Consumer
Indirect Channel
Producer to Intermediary to Consumer
Direct Marketing Channels
allow consumers to buy products by interacting with various advertising media without a face-to-face meeting with a salesperson
Multichannel Marketing
the blending of different communication and delivery channels that are mutually reinforcing in attracting, retaining, and building relationships with consumers who shop and buy in traditional intermediaries and online
Dual Distribution
an arrangement whereby a firm reaches different buyers by employing two or more different types of channels for the same basic product
Strategic Channel Alliances
where one firm’s marketing channel is used to sell another firm’s products
Vertical Marketing Systems
are professionally managed and centrally coordinated marketing channels designed to achieve channel economies and maximum marketing impact
Intensive Distribution
a firm tries to place its products and services in as many outlets as possible
Exclusive Distribution
the extreme opposite of intensive distribution because only one retailer in a specific geographical area carries the firm’s products
Selective Distribution
a firm selects a few retailers in a specific geographical area to carry its products
Channel Conflict
when one channel member believes another channel member is engaged in behavior that prevents it from achieving its goals
conflict arises when a channel member bypasses another member and sells or buys products direct
involves those activities that focus on getting the right amount of the right products to the right place at the right time at the lowest possible cost
Supply Chain
the various firms involved in performing the activities required to create and deliver a product or service to consumers or industrial users
Total Logistics Cost
expenses associated with transportation, materials handling and warehousing, inventory, stockouts (being out of inventory), order processing, and return products handling
Customer Service
the ability of logistics management to satisfy users in terms of time, dependability, communication, and convenience
Vendor Managed Inventory (VMI)
where the supplier determines the product amount and assortment a customer (such as a retailer) needs and automatically delivers the appropriate items
Reverse Logistics
a process of reclaiming recyclable and reusable materials, returns, and reworks from the point of consumption or use for repair, remanufacturing, redistribution, or disposal

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