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Define middleman
Another name for intermediary
Define agent or broker
Any intermediary with legal authority to act on behalf of another cha
Define wholesaler
Any intermediary who sells to other intermediaries, usually to retailers
Define retailer
An intermediary who sells to consumers
Define distributor
A general term used to describe intermediaries who preform a variety of functions, including selling, maintaining inventories, extending credit, and others
Define dealer
General term that can mean the same as a distributor, a retailer, or a wholesaler
What are the 3 functions preformed by intermediaries for marketing channels?
Transactional Function
Logistical Function
Facilitating Function
Define transactional function
Buying: Purchasing products for resale
Selling: Contacting potential customers, promoting products, and seeking orders
Risk Taking: Assuming business risks in the ownership of inventory
Define logistical function
Selection: Putting together a selection of products from several different sources
Storing: Assembling and protecting products at a convenient location
Sorting: Purchasing in large quantities and dividing into smaller amounts
Transporting: Physically moving a product to customers
Define facilitating function
Financing: Extending credit to customer
Marketing information and research: Providing information to customers and suppliers, including competitive conditions and trends
