Market Geography
Why is it expensive for companies to sell goods to a target market that is not close?
Increased shipping costs
What is market size?
In simple terms market size refers to the number of potential buyers (both consumer and industrial) in a given market
What is the rough definition of maket density
Market Density can be plainly described as the number of buyers or potential buyers per unit of a geographical area
The major retailer expanding into smaller urban stores to better serve city dwellers is ________.
Walmart
What is included in Threetailing?
Instore, Cataloue, and Online
Market geography refers to the geographical extent of markets and where they are_____?
Located
Should Channel managers strictly rely on using theoretical models when making decisions, yes or no
No
Dense markets are always efficient and are highly advantageous to all parties, yes or no
No
Which factor has the most impact on variations in consumer purchasing patterns?
Seasonal, weekly, and daily fluctuations
What is Commando Shopping?
Buying only loss leader items at multiple stores
A language barrier is a challenge that impacts what part of a business operation?
Customer service
What is a key issue of Geographic expansion
Raised costs due to added complexities of expansion
What is one benefit of market density
Greater the opportunity and efficiency, Higher number of buyers, customers have access to high levels of variation
As of 2010, online sales accounted for approximately ______% of total retail sales
Less than 4%
What are the 2 groups to consider as part of the purchase decision?
Who makes the physical purchase, and who takes part in the buying decision.
The study of market geography helps channel managers optimize what part of their channel design?
Distribution
What is a critical point to take from Bucklins Model regarding the general preferences of larger markets
Larger markets favor intermediary channels due to cost efficiencies
What is one key issue with the efficient congestion model
It doesnt take into account sociocultural factors
Why do manufacturers offer price incentives to channel partners during the off-season?
To encourage retailers to stock inventory when demand is low
Name 4 of the 6 people involved in the buying decisions in the industrial markets includes
Users, Influencers, Deciders, Approverrs, Buyes, and Gatekeepers.