Stanley J. Shapiro
Kenneth B. Wong,
Queens School of Business
William D. Perreault,
University of North Carolina
E. Jerome McCarthy,
Michigan State University
| Accumulating | Collecting products from many small producers.
(See Refer to page(s) 325)
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| Administered channel systems | Various channel members informally agree to co-operate with one another.
(See Refer to page(s) 337)
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| Assorting | Putting together a variety of products to give a target market what it wants.
(See Refer to page(s) 325)
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| Bulk-breaking | Dividing larger quantities into smaller quantities as products get closer to the final market.
(See Refer to page(s) 325)
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| Buying function | Looking for and evaluating goods and services.
(See Refer to page(s) 322)
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| Central market | Convenient place where buyers and sellers can meet one-on-one to exchange goods and services.
(See Refer to page(s) 319)
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| Channel captain | A manager who helps direct the activities of a whole channel and tries to avoid-or solve-channel conflicts.
(See Refer to page(s) 335)
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| Channel of distribution | Any series of firms or individuals who participate in the flow of products from producer to final user or consumer.
(See Refer to page(s) 36, 319)
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| Consignment selling | When the supplier, rather than the retailer, remains the owner of the product until it is sold. The Competition Tribunal can prohibit such action if it is used to fix prices at retail or to discriminate among resellers.
(See Refer to page(s) 339)
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| Contractual channel systems | Various channel members agree by contract to co-operate with one another.
(See Refer to page(s) 337)
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| Corporate channel systems | Corporate ownership all along the channel.
(See Refer to page(s) 336)
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| Direct marketing | Direct communication between a seller and an individual customer using a promotion method other than face-to-face personal selling.
(See Refer to page(s) 331)
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| Discrepancy of assortment | The difference between the lines a typical producer makes and the assortment final consumers or users want.
(See Refer to page(s) 325)
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| 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.
(See Refer to page(s) 324)
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| Dual distribution | When a producer uses several competing channels to reach the same target market-perhaps using several intermediaries in addition to selling directly.
(See Refer to page(s) 341)
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| Exclusive distribution | Selling through only one intermediary in a particular geographic area.
(See Refer to page(s) 338)
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| Facilitators | Firms that provide one or more of the marketing functions other than buying or selling.
(See Refer to page(s) 323)
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| Financing | Providing the necessary cash and credit to produce, transport, store, promote, sell, and buy products.
(See Refer to page(s) 322)
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| Ideal market exposure | When a product is available widely enough to satisfy target customers' needs but not exceed them.
(See Refer to page(s) 337)
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| Intensive distribution | Selling through all responsible and suitable wholesalers and retailers who will stock and/or sell the product.
(See Refer to page(s) 338)
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| Intermediary | Someone who specializes in trade rather than production.
(See Refer to page(s) 321)
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| Market | A group of potential customers with similar needs who are willing to exchange something of value with sellers offering various goods and/or services-that is, ways of satisfying those needs.
(See Refer to page(s) 226, 319)
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| Market information function | The collection, analysis, and distribution of all the information needed to plan, carry out, and control marketing activities.
(See Refer to page(s) 323)
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| Place | Making goods and services available in the right quantities and locations, when customers want them.
(See Refer to page(s) 318)
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| Pure subsistence economy | Each family unit produces everything it consumes.
(See Refer to page(s) 319)
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| Refusal to supply | When a buyer cannot obtain, on the usual terms, a product not generally in short supply. Under certain conditions, the Competition Tribunal can require sellers to provide the product.
(See Refer to page(s) 340)
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| Regrouping activities | Adjusting the quantities and/or assortments of products handled at each level in a channel of distribution.
(See Refer to page(s) 325)
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| Reverse channels | Channels used to retrieve products that customers no longer want.
(See Refer to page(s) 341)
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| Risk taking | Bearing the uncertainties that are part of the marketing process.
(See Refer to page(s) 322)
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| Selective distribution | Selling through only those intermediaries who will give the product special attention.
(See Refer to page(s) 338)
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| Selling function | Promoting the product.
(See Refer to page(s) 322)
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| Sorting | Separating products into grades and qualities desired by different target markets.
(See Refer to page(s) 325)
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| Standardization and grading | Sorting products according to size and quality.
(See Refer to page(s) 322)
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| Storing function | Holding goods until customers need them.
(See Refer to page(s) 322)
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| Traditional channel systems | Systems in which the various channel members make little or no effort to co-operate with each other.
(See Refer to page(s) 334)
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| Transporting function | The movement of goods from one place to another.
(See Refer to page(s) 322)
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| Universal functions of marketing | Buying, selling, transporting, storing, standardizing and grading, financing, risk taking, and market information.
(See Refer to page(s) 322)
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| Vertical integration | Acquiring firms at different levels of channel activity.
(See Refer to page(s) 336)
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| Vertical marketing systems | Channel systems in which the whole channel focuses on the same target market at the end of the channel.
(See Refer to page(s) 336)
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2002 McGraw-Hill Higher Education