Chapter 1 Study Guide Marketing

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Chapter 1 Study Guide Marketing Powered By Docstoc
					Welcome to
Marketing
 Channels
               Jared Young
 Room T418
 Ext 1288
 Consultation Times
    – Monday       10am to 12pm
    – Tuesday      1pm to 3pm
    – Wednesday    10am to 12 pm

    – Additional time by appointment only
        Friday 11 to 12
                     Tutorials
   Tutorial times
    – Monday 1pm to 3pm         room TA 220
    – Tuesday 10am to 12pm      room T118

   Please Note;
    – Tutes are compulsory as part of your grade can
      only be attained by tute attendance and
      participation
    – Some tutes may only go for one hour
    – 2nd hour left for directed group study
         Learning Resources
 Textbook – Rosenbloom 1999
 Introductory book
 Study guide
 Book of readings
 Lecture outline on the network
 Course homepage (ancillary material)
    – http://www.usq.edu.au/course/material/MKT2004
               Introductory book
   Unit overview (p. 5)
   Approach to study (p. 6)
   Notes on case analysis (pp. 6-9)
   Study schedule (p. 11)
   Assessment (pp. 12-7)
     – different for internals (handout in tutorial)
   Faculty policy on plagiarism, collusion and cheating,
    and appeals (p. 18)
   Extension policy (p. 17)
   Past examination paper (p. 21)
    – markers notes
 Assignments: internal students
   Assignment 1
    – group case study presentation and
      case brief (20%)
 Individual case questions and
  class participation (10%)
 Assignment 2
   – written report (30%)
                  Examination
   Overview of exam (p. 12)
     – 2 hours
     – 12 short answers - 1/2 to 2/3 page
     – based on module objectives and review questions
     – one reading will be examined
     – all modules
   past examination paper (p. 21)
     – based on previous text
     – marker’s notes
     – BE CAREFUL!!!
         Study guide includes….
   Objectives for the module
   Key terms
   Readings
   Important points from text and readings
   Self assessment exercises
    – review questions
    – chapter questions
    – tutorial activity
    – feedback on chapter questions
     Resources for Marketing
           Channels
   Textbooks
    – Rosenbloom         658.84Ros
    – Berman             658.84Ber
    – Stern              658.84Ste
   Journals
    – Journal of Marketing Channels 658.84P1
    – Journal of Marketing & Logistics 658.8P7
    – Retail World 381.10994P1
               How to succeed
   Work progressively through the semester
    – Ave. day student to get ave. result (60%) will spend an
      ave. of one hour per percent allocated for assessments
      PLUS an extra hour per week doing review activities
 Proper Prior Preparation Prevents Poor Performance
 READ BEFORE THE LECTURE!!!!
    – Lectures will be interactive, discussion based
    – Assist understanding through application
 Make sure you learn and understand the concepts in
  this first lecture
 Ask for help
    – USE THE DISCUSSION GROUP
Marketing channels:
  An introduction


  Module 1: chapter 1
             Lecture Overview
   The placement element
   What is a marketing channel?
   Channel management
   Marketing channel flows
   Why use intermediaries?
   Alternative channel structures
   The importance of marketing channels

   Main objective is to get a clear understanding of
    each of these concepts and relate to real life.
       The placement element

 part of the marketing mix
 distribution
   – the way in which products are distributed from
     producer to end-user
   – can be a major source of competitive advantage
 provides place and time utility
   – makes products accessible to customers in a
     convenient and timely manner
What is a marketing channel?
   ‘the external contactual organisation that
    management operates to achieve its
    distribution objectives’ (Rosenbloom 1999,
    p. 9).
       The marketing channel
           involves……
   independent firms yet interdependent
          manufacturers, wholesalers, retailers
   inter-organisational management
    – integration and coordination of activities
    – cooperation and communication
   shared goals
       The marketing channel
            includes…..
   Channel members
    – those participants who perform the negotiatory
      functions of buying, selling and transferring
      title (p. 26)
   Ancillary structure
    – the group of institutions (facilitating agencies)
      that assists channel members in performing
      distribution tasks (p. 26)
          transportation, storage, insurance, financing,
           advertising, market research etc.
     Channel management is...

   the process of planning, managing and
    controlling channel activities.
        Channel strategy is….
 ‘the entire process of setting up and
  operating the contactual organisation that is
  responsible for meeting the firm’s
  distribution objectives’ (p. 15)
 Logistics management is …
    – ‘providing product availability at the
      appropriate times and places in the marketing
      channel’ (p. 15)
     Marketing channel flows?
   Refer to figure 1-4 (p. 17)
    – One-way and two-way flows
   Product
    – physical movement from producer to end user
   Negotiation
    – matching buyers and sellers, terms etc.
   Ownership
    – transfer of title
 Information
 Promotion
    Distribution tasks include…
 Buying and selling
 Transferring title
 Transportation
 Storage
 Order processing
 Providing information
    Why use intermediaries?
 specialisation and the division of labour
   – leads to more efficient and effective
     distribution
   – economies of scale
 contactual efficiency
   – reduce number of contacts
   – reduce market transaction costs
         Contactual efficiency
              (refer to figure 1.6, p. 22)

M   M    M        M                    M     M       M   M


                                                 W


R    R    R       R                     R    R       R   R


    16 contacts                         8 contacts
   overcome the discrepancy of quantity and
    assortment
     – manufacturers product large quantities of
       a limited assortment of goods
     – consumers want small quantities of a
       broad assortment of goods
      Major channel functions
   Sorting
    – accumulate
    – sort
    – re-allocate
   Breaking bulk
    – break large lots into
      small lots
Channel functions can be
shifted but they cannot be
        eliminated.
     What is channel structure?
 ‘The group of channel members to which a set
    of distribution tasks have been allocated’
    (Rosenbloom 1999, p. 24).
   Based on channel specialisation
    – efficient and effective task allocation
   Refer to fig 1-7, p. 23
    – Number of levels of intermediaries
        Channel length – short to long

        Direct or indirect
               Channel structures
   2 level        3 level       4 level         5 level

Manufacturer    Manufacturer   Manufacturer   Manufacturer



                                                 Agent
                                Wholesaler
                   Retailer
                                               Wholesaler

                                Retailer

                                                 Retailer


Consumer         Consumer       Consumer       Consumer
     Why are marketing channels
      increasing in importance?
   Role in gaining a sustainable competitive
    advantage
    – an established channel strategy is difficult to copy
      in the short-term
          long-term, structure based on relationships
   Growing power of distributors
    – retailers and wholesalers
    – need to improve relationships between members
 Need to reduce the costs of distribution to
  be competitive
 Avenue for growth
    – Access new markets
    – Penetrate current markets
   Impact of technology
    – Internet, automation, EDI etc
           Summary/Review
   How does Channels fit into the marketing mix?
   What is a marketing channel? What is and what is
    not a channel member?
   Channel management
   List the flows in a Marketing channel
   Why use intermediaries?
   List 4 alternative channel structures
   Name 5 factors leading to the growing importance
    of marketing channels
             Tutorial Program
 Discuss assessment for internal students
 Discuss case analysis guidelines
  (introductory book pages 6-9)
    – Apply to case – Snap on Tools
 Organise case teams
 Study guide
    – Activity 1.1, part 1
    – Activity 1.5, part 1

				
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