AFM131 Chapter Notes - Chapter 15: Retail, Credit Risk, Direct Marketing

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM131
• Professor: Mohsin Bashir

Document Summary

Marketing intermediaries: assist in moving product b2b or b2c. Channel of distribution: set of marketing intermediaries to transport and store goods b2c. Agents/brokers: bring buyers and sellers together and assist in negotiating an exchange. 1: marketing intermediaries can be eliminated but their activities can"t. 2: intermediaries survive by performing marketing functions faster/cheaper than others. 3: intermediaries add cost to products but offset it by the value they add. 1: time makes products available when needed. 3: possession transferring ownership and all the processes that go with it. 4: information opening two way flow of information between marketer and participant. 5: service fast, friendly service during/after the sale by educating the customer about the product. Merchant wholesalers: independently owned firms that take title to the foods they handle. Full service wholesalers undertake and assume the credit risk of purchases (reliving the supplier of this) by taking on the product title. Rack jobbers: furnish retailer shelves with merchandise and sell on consignment.