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Chapter 15&16 notes

by: Aimee Castillon

Chapter 15&16 notes MBUS303

Aimee Castillon
GPA 3.61

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About this Document

The file says its Chapter 14&15, but really it's chapter 15 and chapter 16. Sorry!
Marketing in the Global Economy
Dr. Joiner
Class Notes
Marketing, businessminor
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This 5 page Class Notes was uploaded by Aimee Castillon on Thursday May 5, 2016. The Class Notes belongs to MBUS303 at George Mason University taught by Dr. Joiner in Spring 2016. Since its upload, it has received 11 views. For similar materials see Marketing in the Global Economy in Marketing at George Mason University.


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Date Created: 05/05/16
        Organization name        Student name  Marketing  student email address  MBUS 303  •  Spring 2016    Heading: 5/3/16  Notes: Chapter 14&15    Chapter 15­ Supply Chain Management  Raw materials/components  ­ Supply chain management: A ​  set of approaches and techniques firms  → manufacturer → end  employ to integrate their suppliers, manufacturers, warehouses, stores, and  user  transportation intermediaries into a seamless operation in which    merchandise is produced and distributed in the right quantities, to the right    locations, and at the right time, as well as to minimize systemwide costs    while satisfying the service levels that their customers require    ­ Is a key part of marketing!    ­ Fulfilling delivery promises    ­ Meeting customer expectations/ adding value    ­ Marketing = reliant on an efficient supply chain    ­ Designing marketing channels    ­ Direct channel: manufacturer → customer    ­ Indirect channels:    ­ One intermediary: Manufacturer → retailer → customer    ­ Two intermediary: manufacturer → wholesaler → retailer →    customer    ­ Contributions of supply chains    ­ In addition to being a necessity (to distribute the product)    ­ Properly managed, supply chains can add value to a marketer’s    operations:    ­ Reduce number of transactions    ­ Specialization                          ­     ­ As number of transactions decrease, the supply chain    can become more efficient and effective    ­ Increase value for customers    ­ Managing multiple “flows”    ­ Flow of merchandise    ­ I.e. direct vs. indirect channels    ­ I.e. distribution center vs. direct store delivery    ­ Inventory Management: Just­In­Time (Quick Response)    Systems    ­ Designed to deliver less merchandise on a more    frequent basis    ­ Benefits    ­ Reduced lead time    ­ Increased product availability and lower    inventory investment    ­ Flow of information    ­ e.g. Electronic Data Interchanges    ­ Flow of payments and ownership    ­ Managing the Supply Chain    ­ Key issue: handling supply chain conflict    ­ Managing the marketing channel and the supply chain                ­   ­ Vertical conflict­ i.e. manufacturer has conflict with its retailers  ­ Horizontal conflict­ i.e. conflict within retailers   ­ Managing supply chain relationships through vertical integration  ­ Independent marketing channel/administered distribution channel vs.  vertical marketing channel/contractual vertical marketing channel   ­   ­ Differ in terms of formality and ownership  ­ Administered   ­ relies more on power and persuasion  ­ Contractual  ­ Corporate  ­ I.e. Company has its own stores  ­ Trend: managing supply chains through strategic relationships  ­ involves the supply chain members being committed to  maintaining the relationship over the long term and investing  in opportunities that are mutually beneficial  ­ Focus on common goals    Chapter 16­ Retailing and Multichannel Marketing    ­ What is unique about “Retailing”    ­ Both a part of many marketers’ supply chain and a business with    their own marketing objectives, target market, positioning, marketing    mix, etc.     ­ There are a wide variety of retailers that have different characteristics          I.e. Giant has a lot of  private brands      I.e. Hershey vs. Godiva;  Rolex vs. Timex    ­   ­ Service retailers­ firms that primarily sell services rather than    merchandise, are a large and growing part of the retail industry      ­ Choosing retail partners:   ­ channel structure      ­ Degree of vertical integration    ­ Strength of manufacturer’s brand (vs. private­level brands)  ­ Relative power of manufacturer and retailer      ­ Customer expectations  ­ Distribution intensity­ # of outlets     ­ Intensive distribution­ distribute products in as many      outlets as possible (i.e. Hershey’s, Snickers, Coke)  ­ Selective distribution­ Use a smaller of selected  Distinguish the variety of  retailers in a territory (i.e. iPhones)  products that are in Walmart  compared to Costco  ­ Exclusive distribution­ manufacturers grant exclusive  geographic territories to one or very few retail      customers (i.e. Rolex, automobiles)    ­ Retail Strategy: Using the Four P’s to create value  ­ Retailers are part of the distribution channel for manufacturers, but      they also have their own decisions (product, price, promotion,  place)­­ possible conflicts    ­ Product      ­ Providing the right mix of merchandise and services  ­ Retail product    ­ Atmospherics­ design of an environment by    stimulation of the five senses    ­ Visual communications    ­ Lighting    ­ Colors    ­ Music    ­ Scent (i.e. recent study on space and scent)­  Starbucks is a great example  i.e. Abercrombie and Fitch, Cinnabon  of how they place the stores  ­ Goal: influence customers and ultimately affect    their purchase behavior  ­ Price  ­ Price defines the value of both the merchandise and the  service provided  ­ Promotion  ­ Retailers use a wide variety of promotions, both within their  retail environment and through mass media  ­ Place: why is store location important for a retailer?  ­ Location: typically prime consideration in customer’s store  choice  ­ Strategic importance: can help to develop sustainable  competitive advantage   ­ Location decisions are risky  ­ Hard to change in the short run  ­ High cost  ­ Consumers’ expectations  ­ Stores: benefits   ­ Benefits  ­ Browsing  ­ Touching and feeling  ­ Personal service  ­ Cash and credit  ­ Entertainment and social interaction  ­ Instant gratification  ­ Risk reduction  ­ Benefit of Internet and Multichannel retailing  ­ Deeper and broader selection  ­ Personalization  ­ Gain insights into consumer shopping behavior  ­ Increase customer satisfaction and loyalty  ­ Expand market presence  ­ Trend: move toward multi channel marketing  ­ Goals for retailers:  ­ Overcome the limitations of any single format  ­ Expanding marketing presence  ­ Increasing share of wallet  ­ Insights into customer’s shopping behaviors (research)  Article­ Zulily  ­ Really efficient distribution system  ­ Small number of warehouses  ­ Do orders at 2 very efficient locations  ­ Ship order to customers  ­ Problem: didn’t meet customer expectations  ­ Took 2­3 weeks to deliver order  Article discussed in class  ­ Trend: Stores are leaving traditional malls   


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