MKTG 400 Exam questions and
answers rated A+
Retailing - ANS✅✅All activities involved in selling, renting, and providing products and services to
ultimate consumers for personal, family, or household use.
Chart about Retailing Discussing Utility - ANS✅✅Wells Fargo - Time Utility - Available all the time
(Internet)
CarMax - Place Utility - Lots of locations (Largest used car retailer in the world, "no haggle pricing"
means every customer pays the same price for the car so no negotiation)
Ralph Lauren - Form Utility - Ability to customize your product and have lot of options.
Sports Authority - Possession Utility - Get anything at anytime of the year. (Football gear in spring)
Level of Service - ANS✅✅The degree of service provided to the customer
Self-Service - ANS✅✅Customer decides on product, pays, and receives product all without any
help. (RedBox)
Limited-Service - ANS✅✅Customer has people to go to for help but help isn't always needed in
these environments. Often supercenters that have a lot of everyday items. (Wal-Mart)
Full-Service - ANS✅✅Customer will not make purchase without somebody helping them on their
purchase. Often for very expensive and important items. (High-end Jewelry)
Mom & Pop shops - ANS✅✅Largest form of Retail Ownership
3 basic types of Contractual Retail Systems - ANS✅✅Franchising, Wholesaler Sponsored Chains,
Retail Cooperatives
Franchising - ANS✅✅Long-term cooperative relationship between franchiser and franchisees.
Franchiser provides licensed privilege to franchisee to do business. (Subway, McDonalds, Sonic)
Wholesaler Sponsored Chains - ANS✅✅Wholesaler develops a program where retailers
standardize selling practices.
, Retail Cooperatives - ANS✅✅Cooperative which employs economies of scale on behalf of its
retailer members
Depth of Product Line - ANS✅✅Store carries large assortment of each product item. (Nike, Sperry,
etc. shoes at same store)
Breadth of Product Line - ANS✅✅Describes variety of different product items a store carries.
(shoes, appliances, clothing at same store)
Category Killers - ANS✅✅Product, service, brand, or company that has such a distinct advantage
that competing firms find it impossible to operate profitably. Can attain this status by being cheaper,
easier, bigger, or more popular than the competition. (Staples, Best Buy)
Nonstore Retailing - ANS✅✅Telemarketing, Automatic Vending (Vending Machines), Online,
Television Home Shopping Network
Off-Price Retailing - ANS✅✅Selling name brand items at below regular price (TJ Maxx, Sams Club)
Central Business District - ANS✅✅Oldest retail setting, Often located in downtown. (Manhattan
Town Center/Mall)
Promotional Mix - ANS✅✅Inform prospective buyers, persuade them to try, remind of benefits.
(Advertising, Personal Selling, Public Relations, Sales Promotion)
Advertising Advantages - ANS✅✅Cost per thousand (CPM), visibility gained enhances image,
source repeats message (Mass Selling)
Advertising Disadvantages - ANS✅✅Initial absolute dollar outlay is high, rarely provides rapid
feedback, less persuasive than personal selling, limited time exposure, difficult to measure
effectiveness
John Wanamaker - ANS✅✅"I know half of my advertising dollars are wasted, I just don't know
what half."
answers rated A+
Retailing - ANS✅✅All activities involved in selling, renting, and providing products and services to
ultimate consumers for personal, family, or household use.
Chart about Retailing Discussing Utility - ANS✅✅Wells Fargo - Time Utility - Available all the time
(Internet)
CarMax - Place Utility - Lots of locations (Largest used car retailer in the world, "no haggle pricing"
means every customer pays the same price for the car so no negotiation)
Ralph Lauren - Form Utility - Ability to customize your product and have lot of options.
Sports Authority - Possession Utility - Get anything at anytime of the year. (Football gear in spring)
Level of Service - ANS✅✅The degree of service provided to the customer
Self-Service - ANS✅✅Customer decides on product, pays, and receives product all without any
help. (RedBox)
Limited-Service - ANS✅✅Customer has people to go to for help but help isn't always needed in
these environments. Often supercenters that have a lot of everyday items. (Wal-Mart)
Full-Service - ANS✅✅Customer will not make purchase without somebody helping them on their
purchase. Often for very expensive and important items. (High-end Jewelry)
Mom & Pop shops - ANS✅✅Largest form of Retail Ownership
3 basic types of Contractual Retail Systems - ANS✅✅Franchising, Wholesaler Sponsored Chains,
Retail Cooperatives
Franchising - ANS✅✅Long-term cooperative relationship between franchiser and franchisees.
Franchiser provides licensed privilege to franchisee to do business. (Subway, McDonalds, Sonic)
Wholesaler Sponsored Chains - ANS✅✅Wholesaler develops a program where retailers
standardize selling practices.
, Retail Cooperatives - ANS✅✅Cooperative which employs economies of scale on behalf of its
retailer members
Depth of Product Line - ANS✅✅Store carries large assortment of each product item. (Nike, Sperry,
etc. shoes at same store)
Breadth of Product Line - ANS✅✅Describes variety of different product items a store carries.
(shoes, appliances, clothing at same store)
Category Killers - ANS✅✅Product, service, brand, or company that has such a distinct advantage
that competing firms find it impossible to operate profitably. Can attain this status by being cheaper,
easier, bigger, or more popular than the competition. (Staples, Best Buy)
Nonstore Retailing - ANS✅✅Telemarketing, Automatic Vending (Vending Machines), Online,
Television Home Shopping Network
Off-Price Retailing - ANS✅✅Selling name brand items at below regular price (TJ Maxx, Sams Club)
Central Business District - ANS✅✅Oldest retail setting, Often located in downtown. (Manhattan
Town Center/Mall)
Promotional Mix - ANS✅✅Inform prospective buyers, persuade them to try, remind of benefits.
(Advertising, Personal Selling, Public Relations, Sales Promotion)
Advertising Advantages - ANS✅✅Cost per thousand (CPM), visibility gained enhances image,
source repeats message (Mass Selling)
Advertising Disadvantages - ANS✅✅Initial absolute dollar outlay is high, rarely provides rapid
feedback, less persuasive than personal selling, limited time exposure, difficult to measure
effectiveness
John Wanamaker - ANS✅✅"I know half of my advertising dollars are wasted, I just don't know
what half."
