MKTG 3340 UPDATED EXAM SCRIPT QUESTIONS AND
SOLUTIONS RATED A+
✔✔Drugstores - ✔✔Sell health, beauty, and medication products.
✔✔Convenience Stores - ✔✔Small stores offering high convenience, higher prices.
✔✔Specialty Stores - ✔✔Focus on a specific category, offering deep product lines.
✔✔Department Stores - ✔✔Large retailers with multiple categories.
✔✔Superstores - ✔✔Large stores offering wide merchandise + groceries.
✔✔Warehouse Clubs - ✔✔Discounted bulk retailers (e.g., Costco).
✔✔Off-Price Retailers - ✔✔Sell branded goods at reduced prices (e.g., TJ Maxx).
✔✔Online Retailers - ✔✔Sell products online (e.g., Amazon).
✔✔Pop-Up Stores - ✔✔Temporary retail locations.
✔✔Nonstore Retailing - ✔✔Selling outside of physical stores (kiosks, direct mail, etc.).
✔✔Direct Channel - ✔✔Producer sells directly to consumer.
✔✔Indirect Channel - ✔✔Includes intermediaries between producer and consumer.
✔✔Disintermediation - ✔✔Cutting out intermediaries (DTC).
✔✔Push Strategy - ✔✔Manufacturer promotes products to intermediaries to carry them.
✔✔Pull Strategy - ✔✔Creating consumer demand that pulls products through the
channel.
✔✔Multichannel Marketing - ✔✔Using multiple distribution channels (e.g., online +
retail).
✔✔Omnichannel Marketing - ✔✔Integrating all channels to create a seamless customer
experience.
✔✔Sourcing - ✔✔Finding suppliers of goods/services.
✔✔Procurement - ✔✔The process of purchasing goods and services.
, ✔✔Offshoring - ✔✔Moving production to another country for cost savings.
✔✔Insourcing - ✔✔Bringing previously outsourced processes back in-house.
✔✔Social Responsibility - ✔✔Considering ethical and social impacts in supply chain
decisions.
✔✔Environmental Sustainability - ✔✔Managing resources responsibly to reduce
environmental impact.
✔✔Demand Planning - ✔✔Estimating customer demand for products.
✔✔Production Scheduling - ✔✔Planning manufacturing activities and timelines.
✔✔Lead Time - ✔✔Time between placing and receiving an order.
✔✔Supply Chain Visibility - ✔✔Ability to track and monitor supply chain stages in real
time.
✔✔Inventory Control - ✔✔Managing product quantities to balance supply and demand.
✔✔Stockout - ✔✔Running out of inventory.
✔✔Just-in-Time Inventory (JIT) - ✔✔Minimizing inventory by receiving goods only as
needed.
✔✔Vendor-Managed Inventory (VMI) - ✔✔Supplier monitors and replenishes inventory.
✔✔RFID Tag - ✔✔Radio tag used to track inventory and shipments.
✔✔Distribution Center - ✔✔Facility for receiving, storing, and shipping products.
✔✔SKU (Stock Keeping Unit) - ✔✔Unique identifier for each product variant.
✔✔Logistics - ✔✔Managing the efficient flow of goods from producer to consumer.
✔✔Intermodal Containers - ✔✔Standardized shipping containers for multi-transport use.
✔✔Track and Trace Systems - ✔✔Technology used to monitor shipment movement.
✔✔Reverse Logistics - ✔✔Managing the return and recycling of used products.
SOLUTIONS RATED A+
✔✔Drugstores - ✔✔Sell health, beauty, and medication products.
✔✔Convenience Stores - ✔✔Small stores offering high convenience, higher prices.
✔✔Specialty Stores - ✔✔Focus on a specific category, offering deep product lines.
✔✔Department Stores - ✔✔Large retailers with multiple categories.
✔✔Superstores - ✔✔Large stores offering wide merchandise + groceries.
✔✔Warehouse Clubs - ✔✔Discounted bulk retailers (e.g., Costco).
✔✔Off-Price Retailers - ✔✔Sell branded goods at reduced prices (e.g., TJ Maxx).
✔✔Online Retailers - ✔✔Sell products online (e.g., Amazon).
✔✔Pop-Up Stores - ✔✔Temporary retail locations.
✔✔Nonstore Retailing - ✔✔Selling outside of physical stores (kiosks, direct mail, etc.).
✔✔Direct Channel - ✔✔Producer sells directly to consumer.
✔✔Indirect Channel - ✔✔Includes intermediaries between producer and consumer.
✔✔Disintermediation - ✔✔Cutting out intermediaries (DTC).
✔✔Push Strategy - ✔✔Manufacturer promotes products to intermediaries to carry them.
✔✔Pull Strategy - ✔✔Creating consumer demand that pulls products through the
channel.
✔✔Multichannel Marketing - ✔✔Using multiple distribution channels (e.g., online +
retail).
✔✔Omnichannel Marketing - ✔✔Integrating all channels to create a seamless customer
experience.
✔✔Sourcing - ✔✔Finding suppliers of goods/services.
✔✔Procurement - ✔✔The process of purchasing goods and services.
, ✔✔Offshoring - ✔✔Moving production to another country for cost savings.
✔✔Insourcing - ✔✔Bringing previously outsourced processes back in-house.
✔✔Social Responsibility - ✔✔Considering ethical and social impacts in supply chain
decisions.
✔✔Environmental Sustainability - ✔✔Managing resources responsibly to reduce
environmental impact.
✔✔Demand Planning - ✔✔Estimating customer demand for products.
✔✔Production Scheduling - ✔✔Planning manufacturing activities and timelines.
✔✔Lead Time - ✔✔Time between placing and receiving an order.
✔✔Supply Chain Visibility - ✔✔Ability to track and monitor supply chain stages in real
time.
✔✔Inventory Control - ✔✔Managing product quantities to balance supply and demand.
✔✔Stockout - ✔✔Running out of inventory.
✔✔Just-in-Time Inventory (JIT) - ✔✔Minimizing inventory by receiving goods only as
needed.
✔✔Vendor-Managed Inventory (VMI) - ✔✔Supplier monitors and replenishes inventory.
✔✔RFID Tag - ✔✔Radio tag used to track inventory and shipments.
✔✔Distribution Center - ✔✔Facility for receiving, storing, and shipping products.
✔✔SKU (Stock Keeping Unit) - ✔✔Unique identifier for each product variant.
✔✔Logistics - ✔✔Managing the efficient flow of goods from producer to consumer.
✔✔Intermodal Containers - ✔✔Standardized shipping containers for multi-transport use.
✔✔Track and Trace Systems - ✔✔Technology used to monitor shipment movement.
✔✔Reverse Logistics - ✔✔Managing the return and recycling of used products.
