Z94.5 - Distribution & Marketing

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EARLY ADOPTERS. Adopters who are well respected by their peers and usually high in opinion leadership.

ECONOMIC ORDER QUANTITY. The optimum quantity of a product as determined by balancing the cost to carry inventory against the cost of ordering (and/or set-up).

ECONOMIES OF SCALE. As a company produces larger numbers of a particular product, the cost for each of these products goes down.

ELASTIC DEMAND. The quantity demanded would increase enough to increase total revenue if price were decreased (and vice versa if price were increased).

ELASTIC SUPPLY. The quantity supplied increases at a greater rate than the increases in price.

ELECTRONIC DATA INTERCHANGE. The electronic transmission of standard business documents in a predefined format from one company computer application to its trading partners computer.

EXCLUSIVE DEALING CONTRACT. A contract which prohibits middlemen (or intermediaries) from handling competitive products, except where such action would have the effect of reducing competition or creating a monopoly.

EXCLUSIVE DISTRIBUTION. A situation in which a manufacturer grants exclusive distribution rights to an intermediary in a particular territory.

EXCLUSIVE OUTLET SELLING. That form of selective selling whereby sales of an article or a service or brand of an article to any one type of buyer are confined to one retailer or wholesaler in each area, usually on a contractual basis. Comment. This definition does not include the practice of designating two or more wholesalers or retailers in an area as selected outlets. While this practice is a form of Selective Selling, it is not Exclusive Outlet Selling. The term does not apply to the reverse contractual relationship in which a dealer must buy exclusively from a supplier.

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