MKTG 3340 Final Exam Questions and Answers 100% Correct(SCORED A+)

possession utility - ANSWER-getting a product or service to consumers so they can own or use it depth of product line - ANSWER--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 - ANSWER--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 - ANSWER--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 - ANSWER-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 - ANSWER--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 - ANSWER--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 - ANSWER--type of limited-service wholesaler -furnishes t