Mkt 320 Exam- Unit 3 (Chapter 14)

Front 1

National Brand

Back 1

Made by manufacturer (aka vendor)

Front 2

Manufacturer Brand

Back 2

Made by manufacturer (aka vendor)

Front 3

Private-label brand

Back 3

made by the retailer

Front 4

store brand

Back 4

made by the retailer

Front 5

house brand

Back 5

made by the retailer

Front 6

own brand

Back 6

made by the retailer

Front 7

trade show

Back 7

buyers interact w/ vendors; limited period of time

Front 8

reverse auction

Back 8

the retailer is the one buyer; many vendors bid lowest price to try to get to sell to the retailer

Front 9

tariff

Back 9

tax on imports

Front 10

duties

Back 10

tax on imports

Front 11

resident buying office

Back 11

help retailers buy merchandise

Front 12

retail exchanges:

Back 12

internet-based trade shows basically; connect buyers and vendors online.

Front 13

strategic relationship

Back 13

retailer and vendor; mutually beneficial and long term

Front 14

partnering relationship

Back 14

retailer and vendor; mutually beneficial and long term

Front 15

resale price maintenance

Back 15

vendor tells the retailer that it can't sell the vendor's products for under a certain price

Front 16

manufacturers suggested retail price

Back 16

the price that the vendor suggests the retailer sell its products at

Front 17

commercial bribery

Back 17

kick backs and stuff for

Front 18

chargeback

Back 18

retailer deducts money from what it owes to a vendor when the vendor fucks up

Front 19

slotting allowances

Back 19

retailer charges vendor to stock a new item

Front 20

slotting fees

Back 20

retailer charges vendor to stock a new item

Front 21

buybacks

Back 21

buying the competition's products to get them off the shelves

Front 22

stock-lifts

Back 22

buying the competition's products to get them off the shelves

Front 23

lift-outs

Back 23

buying the competition's products to get them off the shelves

Front 24

trademark

Back 24

protects logos, slogans, marks, etc.

Front 25

copyright

Back 25

protects art and intellectual property

Front 26

gray-market goods

Back 26

getting merch. from channels you're not suppose to, like buying text books for cheaper overseas then bringing them here to sell

Front 27

diverted merchandise

Back 27

when merch. is obtained from a non-intended channel and then sold at a big discount

Front 28

exclusive dealing agreements

Back 28

when the vendor tells the retailer to only sell its goods

Front 29

tying contract

Back 29

when the vendor requires a retailer to take a product it doesn't want in order to be able to sell it product it does want.

Front 30

whole sale market center

Back 30

permanent area where vendors and retailers can get together

Front 31

List the additional costs of global sourcing: (4)

Back 31

1) currency fluctuation
2) tariffs
3) longer lead times
4) higher transportation costs

Front 32

Vendor negotiation tips (10)

Back 32

1) same number of negotiators on each side
2) choose a good place
3) be aware of dead lines
4) separate the people from the problem
5) use objective information
6) look for mutual gain
7) let everyone talk
8) know your limits
9) don't burn bridges
10) assume nothing

Front 33

things needed for a strategic relationship: (4)

Back 33

1) mutual trust
2) open communication
3) common goals
4) credible commitments (both sides invest in relationship)

Front 34

Robinson-Packer act/law

Back 34

restricts the prices and terms vendors can offer retailers; must offer the same price to all retailers for the same product