Inventory
Creating or ordering products only as they are needed is known as ....
Just-In-Time Inventory
The four main types of distribution channels ...
Direct, Indirect, Integrated, and Specialty
The four methods of transportation for distribution ...
Road, Sea, Air, and Rail
The major difference between physical and virtual storefronts...
Physical there is an actual storefront, virtual is simply online only
The four major topics discussed in our class about PLACE are ....
Inventory, Distribution Channels, Transportation, and Physical vs Virtual (Technology)
Two inventory styles that are complete opposites are known as ....
Overstock & Understock
Direct and Indirect distribution differ in this way ...
Direct is sale from manufacturer to consumer, Indirect involves some form of intermediary
This transportation method is the most expensive way to distribute a company's products...
Air Transportation or Planes
One of the biggest benefits for customers of a business utilizing a virtual storefront...
Longer store hours as online stores never close
PLACE is apart of what marketing terminology that refers to the vital elements of marketing...
The Marketing Mix or The 4Ps
The inventory management type ideal for companies looking to store large quantities of product ....
Warehousing
Vending machines are commonly considered an example of this type of distribution channel...
Specialty
These two methods of transportation are more restricted in their delivery abilities ...
Sea - always on the water
Rail - Can only go where there are tracks
Considered the two major benefits to the business for operating a virtual storefront rather than a physical one...
Don't have to pay rent or employee salaries for the physical location
PLACE in the marketing mix is described as involving what ...
All of the elements involved in getting the product from the manufacturer to the consumer
Inventory can be effected by factors such as demand, production, and material costs. These factors often result in ....
Overstocking and/or Understocking
A company, such as Nike, would be an example of a business utilizing this type of distribution channel...
Integrated
Considered to be the overall best and least expensive form of transportation for distribution ...
Road, as deliveries can be made directly to consumers front door and is cheaper than the other methods
Easier to keep track of online inventory, because systems are linked directly to the sales platform
Many sales locations are designed to influence customers into ...
buying more products and spending more money
The inventory management types that are most commonly used from a decision made by the manufacturer....
Warehousing and Just-In-Time Inventory
Indirect distribution can involve one or all three of these intermediaries (middle business) ....
Retailers, Wholesalers, and Agents/Distributors
The least common method of product transportation that was mentioned in our class....
Pipelines, transporting oil and gas
One of the most appreciated benefits that customers find from businesses having a virtual sales platform (even if they also operate a physical location)....
Online ordering and shipping (and tracking)
The most important element to consider when establishing a physical sales location ....
Appealing to the customer
Location, layout, design, inventory, etc.