MKTG 3340 Final Exam UPDATED Study
Guide QUESTIONS AND CORRECT
ANSWERS
Possession Utility - CORRECT ANSWERS The value of making an item easy to purchase
through the provision of credit cards or financial arrangements
Make the purchases easier
The benefit customers get from a company's product once they have purchased
Possession Utility - CORRECT ANSWERS CarMax provides financing or leasing and taking
used cars as trade ins to encourage customers to purchase from them
Stores allow several payment and credit options
Having airline tickets delivered by a travel agency
Allowing several payment and credit options
Depth - CORRECT ANSWERS Number of items within each product line
Store carries a large assortment of each item
Limited Line Stores: considerable assortment of related items (ex-Sports Authority)
Single-Line Stores: tremendous depth in one primary line (ex-Victoria Secret)
Limited Service - CORRECT ANSWERS Customer does most functions.
Salespeople available for assistance in some departments.
,Provides some services such as credit and merchandise return but not things like alterations .
Walmart, Kmart, Target
Specialty Outlet - CORRECT ANSWERS Type of full service outlet. Provide many services to
their customers to sell more distinctive, higher-margin products and retain their customers
Focus on type of product, such as Best Buy (electronics) or Staples (office supplies) at very
competitive prices
Limited and single line stores
Considered category killers because they dominate the market
Category Killer - CORRECT ANSWERS An outlet that specializes in a specific product line
that dominates the market
Direct Mail - CORRECT ANSWERS "store that comes to the door"
Can eliminate the cost of a store and clerk (Dell is a large retailer but doesn't have a store)
Can improve marketing efficiency through segmentation and targeting
(Non-Store Retailing)
Telemarketing - CORRECT ANSWERS Using phone to interact with and sell directly to
consumers
Often viewed as more efficient at targeting consumers compared to direct mail
Ex's- insurance companies, brokerage firms, & newspapers have used this form of retailing as a way
to cut costs but still maintain access to their customers
(Non-Store Retailing)
, Maintained Markup - CORRECT ANSWERS Difference between retailer cost and final selling
price
Also called Gross Margin
Rack Jobber - CORRECT ANSWERS Type of limited service wholesaler
They:
Furnish racks or shelves that display merchandise in retail stores
Perform all channel functions
Sell on consignment to retailers
Exs-
sell hosiery, toys, housewares, health and beauty items
IMC Program - CORRECT ANSWERS The concept of designing marketing communication
programs that coordinate all promotional activities (advertising, personal selling, public relations,
sales promotion and direct marketing) to provide a consistent message to all audiences
When fully balanced across all audiences it becomes an integrated marketing communication
Can be used to:
Inform Prospective buyers about benefits of product
Persuade them to try it
Remind them about the benefits
Determine the balance of elements based on: target audience, product life cycle, product
characteristics, stages of buying process, channel strategies
Otherwise referred to as Integrated Marketing Communications
Demographics - CORRECT ANSWERS Data that is collected from the consumer
Guide QUESTIONS AND CORRECT
ANSWERS
Possession Utility - CORRECT ANSWERS The value of making an item easy to purchase
through the provision of credit cards or financial arrangements
Make the purchases easier
The benefit customers get from a company's product once they have purchased
Possession Utility - CORRECT ANSWERS CarMax provides financing or leasing and taking
used cars as trade ins to encourage customers to purchase from them
Stores allow several payment and credit options
Having airline tickets delivered by a travel agency
Allowing several payment and credit options
Depth - CORRECT ANSWERS Number of items within each product line
Store carries a large assortment of each item
Limited Line Stores: considerable assortment of related items (ex-Sports Authority)
Single-Line Stores: tremendous depth in one primary line (ex-Victoria Secret)
Limited Service - CORRECT ANSWERS Customer does most functions.
Salespeople available for assistance in some departments.
,Provides some services such as credit and merchandise return but not things like alterations .
Walmart, Kmart, Target
Specialty Outlet - CORRECT ANSWERS Type of full service outlet. Provide many services to
their customers to sell more distinctive, higher-margin products and retain their customers
Focus on type of product, such as Best Buy (electronics) or Staples (office supplies) at very
competitive prices
Limited and single line stores
Considered category killers because they dominate the market
Category Killer - CORRECT ANSWERS An outlet that specializes in a specific product line
that dominates the market
Direct Mail - CORRECT ANSWERS "store that comes to the door"
Can eliminate the cost of a store and clerk (Dell is a large retailer but doesn't have a store)
Can improve marketing efficiency through segmentation and targeting
(Non-Store Retailing)
Telemarketing - CORRECT ANSWERS Using phone to interact with and sell directly to
consumers
Often viewed as more efficient at targeting consumers compared to direct mail
Ex's- insurance companies, brokerage firms, & newspapers have used this form of retailing as a way
to cut costs but still maintain access to their customers
(Non-Store Retailing)
, Maintained Markup - CORRECT ANSWERS Difference between retailer cost and final selling
price
Also called Gross Margin
Rack Jobber - CORRECT ANSWERS Type of limited service wholesaler
They:
Furnish racks or shelves that display merchandise in retail stores
Perform all channel functions
Sell on consignment to retailers
Exs-
sell hosiery, toys, housewares, health and beauty items
IMC Program - CORRECT ANSWERS The concept of designing marketing communication
programs that coordinate all promotional activities (advertising, personal selling, public relations,
sales promotion and direct marketing) to provide a consistent message to all audiences
When fully balanced across all audiences it becomes an integrated marketing communication
Can be used to:
Inform Prospective buyers about benefits of product
Persuade them to try it
Remind them about the benefits
Determine the balance of elements based on: target audience, product life cycle, product
characteristics, stages of buying process, channel strategies
Otherwise referred to as Integrated Marketing Communications
Demographics - CORRECT ANSWERS Data that is collected from the consumer
