| A | B |
|---|
| Channels of Distribution | The path a product takes from its producers or manufacturer to the final customer |
| Intermediaries | Businesses involved in the moving of products from the manufacturer to the final user; Aka: Middlemen |
| Rack Jobbers | Manage inventory and merchandising for retailers by counting stock, filling the shelves when needed & maintaining store displays |
| Drop Shippers | Own the goods they sell, nut they do not physically handle the actual products; They sell the goods to other businesses & have the producer ship the product directly to buyers |
| Brick-and-Mortor Retailers | Traditional retailers; sell goods to other businesses & have the producer ship the merchandise directly to buyers |
| E-tailing | Involves retailers selling products over the internet to the customer |
| Exclusive Distribution | Involves distribution of a product in protected territories in a given geographic area |
| Selective Distribution | Means that a limited number of outlets in a given geographic area sell a manufacturer’s product |
| Intensive Distribution | Involves the use of all suitable outlets to sell a product |
| Agents | Act as intermediaries by bringing buyers and sellers together |
| Direct Distribution | Occurs when the producer sells goods and services directly to the customer with no intermediaries |
| Indirect Distribution | Involves one or more intermediaries |
| Management | The business function of planning, organizing and controlling all available resources |
| Vertical Organization | A hierarchical, up-and-down organizational structure in which the tasks and responsibilities of each level are clearly defined |
| Top Management | Those who make decisions that affect the whole company *CEO, President, CFO, VP, etc.* |
| Middle Management | Employees who implement the decisions of top management; Plans how the department under them can work to reach top management’s goals |
| Supervisory-Level Mangement | Managers supervise the employees who actually carry out the tasks determined by middle & top management |
| Horizontal Organization | Top management shares decision making with self-managing teams of workers who set their own goals and make their own decisions |
| Empowerment | Encourages team members to contribute to and take responsibility for the management process; reinforces team spirit |
| Planning | Involves setting goals and determining how to reach them |
| Organizing | Includes establishing a time frame in which to achieve a goal, assigning employees to the project & determining a method for approaching the work |
| Controlling | The process of setting standards & evaluating performance |
| Mission Statement | A description of the ultimate goals of the company |
| Exit Interview | A meeting that occurs when an employee leaves a company in order to gain employee/ manager feedback |
