Intermediaries who do not take title to a product but facilitate its sale between seller and buyer.
What are agents and brokers?
100
The price charged to customers multiplied by the number of units sold.
What is revenue?
100
The quantity of a product that will be sold in the market at various prices for a specified period.
What is demand?
100
A philosophy under which the company customizes its product based on data generated through interactions between the customer and the company.
What is customer-centric?
200
A channel conflict that occurs between different levels in a marketing channel.
What is vertical conflict?
200
A method of determining what sales volume must be reached before Total Revenue = Total Costs, i.e., [FC / SP(unit)- VC(unit)]
What is a break-even analysis?
200
The price at which demand and supply are equal.
What is price equilibrium?
200
Interactions that occur when customers *buy* products in a store.
What is point of sale?
300
When one channel member's power affects another member's behavior.
What is channel control?
300
The practice of marking up prices by 100 percent.
What is keystoning?
300
Consumers' responsiveness or sensitivity to changes in price.
What is elasticity of demand?
300
A central repository of customer data collected by an organization.
What is a data warehouse?
400
The difference between the location of a producer and the location of widely scattered markets.
What is spatial discrepancy?
400
A company's product sales as a % of total sales for that industry.
What is market share?
400
A situation in which consumer demand is sensitive to changes in price.
What is elastic demand?
400
A process by which customer information is centralized and shared in order to enhance the relationship between customers and the organization.
What is knowledge management?
500
Channel used for low-cost items frequently purchased.
What is wholesaler channel?
500
Charging a high price to help promote a high-quality image.
What is prestige pricing?
500
A power evidenced when a company can raise its prices, but not lose sales volume.
What is pricing power?
500
A data manipulation technique in which marketers try to determine based on some past set of occurrences, what the odds are that some other occurrence will happen in future.