MKTG 3340 Final Exam ACTUAL
QUESTIONS AND CORRECT ANSWERS
possession utility - CORRECT ANSWERS getting a product or service
to consumers so they can own or use it
depth of product line - CORRECT ANSWERS -stores that carry a
considerable assortment of a related line of items are limited-line stores
-ex: Sports Authority carries a considerable amount of sports equipment from
weight-lifting accessories to running shoes
limited service - CORRECT ANSWERS -provide some services such as
credit and merchandise return, but not others, such as clothing alterations
-ex: general merchandise stores like Target, Walmart and Kmart
-customers are responsible for most shopping, but salespeople may be in the
aisle
specialty outlet - CORRECT ANSWERS -a title for both limited- and
single-line stores (victoria's secret is single-line)
-focus on one type of product such as electronics, office supplies or books and
set very competitive prices
-referred to as category killers because they often dominate the market
-category killers often shift to smaller stores and use price matching to compete
with online retailers
direct mail - CORRECT ANSWERS the store that comes to the door
-attractive because if eliminates the cost of a store and clerk, improves
marketing efficiency through segmentation and targeting, and they create
customer value by providing a fast and convenient means of making a purchase
-encourage consumers to visit a website or social media page
, telemarketing - CORRECT ANSWERS -more efficient than direct mail
in means of targeting consumers
-used to cut costs but still maintain access to their customers
-annual sales exceed $332 billion
-issues with it include consumer privacy, industry standards and ethical
guidelines
maintained markup - CORRECT ANSWERS -also known as gross
margin, which is difference between final selling price and retailer cost
-difference between original markup is original markup is set first, and then
when product doesn't sell the selling price is reduced to bring us to this
rack jobber - CORRECT ANSWERS -type of limited-service wholesaler
-furnishes the racks or shelves that display merchandise in retail stores, perform
all channel functions, and sell on consignment to retailers, which means they
retain the title to the products displayed and bill retailers only for the
merchandise sold
-familiar products such as hosiery, toys, housewares and health and beauty items
are sold by them
IMC program - CORRECT ANSWERS -integrated marketing
communications
-the concept of designing marketing communications programs that coordinate
all promotional activities to provide a consistent message across all audiences
-by taking consumer expectations into consideration, it is a key element in a
company's customer experience management strategy
communication error/response - CORRECT ANSWERS -examples of
errors: the source may not adequately transform the abstract idea into an
effective set of symbols, a properly encoded message may be sent through the
QUESTIONS AND CORRECT ANSWERS
possession utility - CORRECT ANSWERS getting a product or service
to consumers so they can own or use it
depth of product line - CORRECT ANSWERS -stores that carry a
considerable assortment of a related line of items are limited-line stores
-ex: Sports Authority carries a considerable amount of sports equipment from
weight-lifting accessories to running shoes
limited service - CORRECT ANSWERS -provide some services such as
credit and merchandise return, but not others, such as clothing alterations
-ex: general merchandise stores like Target, Walmart and Kmart
-customers are responsible for most shopping, but salespeople may be in the
aisle
specialty outlet - CORRECT ANSWERS -a title for both limited- and
single-line stores (victoria's secret is single-line)
-focus on one type of product such as electronics, office supplies or books and
set very competitive prices
-referred to as category killers because they often dominate the market
-category killers often shift to smaller stores and use price matching to compete
with online retailers
direct mail - CORRECT ANSWERS the store that comes to the door
-attractive because if eliminates the cost of a store and clerk, improves
marketing efficiency through segmentation and targeting, and they create
customer value by providing a fast and convenient means of making a purchase
-encourage consumers to visit a website or social media page
, telemarketing - CORRECT ANSWERS -more efficient than direct mail
in means of targeting consumers
-used to cut costs but still maintain access to their customers
-annual sales exceed $332 billion
-issues with it include consumer privacy, industry standards and ethical
guidelines
maintained markup - CORRECT ANSWERS -also known as gross
margin, which is difference between final selling price and retailer cost
-difference between original markup is original markup is set first, and then
when product doesn't sell the selling price is reduced to bring us to this
rack jobber - CORRECT ANSWERS -type of limited-service wholesaler
-furnishes the racks or shelves that display merchandise in retail stores, perform
all channel functions, and sell on consignment to retailers, which means they
retain the title to the products displayed and bill retailers only for the
merchandise sold
-familiar products such as hosiery, toys, housewares and health and beauty items
are sold by them
IMC program - CORRECT ANSWERS -integrated marketing
communications
-the concept of designing marketing communications programs that coordinate
all promotional activities to provide a consistent message across all audiences
-by taking consumer expectations into consideration, it is a key element in a
company's customer experience management strategy
communication error/response - CORRECT ANSWERS -examples of
errors: the source may not adequately transform the abstract idea into an
effective set of symbols, a properly encoded message may be sent through the
