MKT 300 Exam 4 Key Terms – Moman –
Questions and Answers
Chapter 13 - Chapter 13 - -
-CRM (Customer Relationship Management) - -Strategies and technologies used by
companies to manage and analyze customer interactions and data throughout the customer
lifecycle.
-Time Utility - -The value provided by making a product or service available at the most
suitable time for consumers.
-Place Utility - -The value added to a product by making it available in convenient
locations where consumers can buy it.
-Possession Utility - -The value consumers derive from owning and using the product,
facilitated through the exchange process.
-Form Utility - -The value created by altering or improving the physical characteristics of a
product to make it more appealing to consumers.
-Intermediaries - -Entities that act as middlemen in the distribution process, connecting
manufacturers with consumers.
-4 Marketing Channels for Consumer Products - -Direct to Consumer, Retailer, Wholesaler,
Agent/Broker.
-4 Marketing Channels for Business Products - -Direct Sales, Distributor, Sales
Representative Agencies, Industrial Distributors.
-Strategic Channel Alliance - -An arrangement where one firm's marketing channel is used
to sell another firm's products.
-Multichannel Distribution - -Using more than one type of distribution channel to reach
customers.
-Digital Distribution - -Distribution of digital products like software, music, or e-books
over the internet.
-Chapter 14 - Chapter 14 - -
-Retailing - -The selling of goods and services to consumers for their personal or family
use.
, -Retailer - -A business entity that sells products or services directly to consumers.
-Multichannel Retailing - -A retailing strategy that offers customers multiple ways to buy
products, such as in-store, online, or through catalogs.
-Online Retailing - -The selling of goods and services through the internet.
-General Merchandise Retailers - -Stores that carry a broad variety of merchandise and
offer a variety of services.
-Department Stores - -Large retail establishments that offer a wide range of products
under one roof.
-Discount Stores - -Retail outlets that sell products at lower than typical market prices.
-Extreme Value Store - -Retailers that provide extremely low prices and a broad but
inconsistent assortment of products.
-Convenience Stores - -Small retail stores that offer a limited range of products at a
convenient location.
-Supermarkets - -Large, departmentalized, self-service retailers specializing in food and
some non-food items.
-Superstores - -Large retail stores that carry not only food and non-food items but also
consumer electronics, apparel, and other goods.
-Hypermarkets - -Huge stores combining supermarkets and discount stores.
-Warehouse Clubs - -Retail stores offering a limited selection of brand name appliances,
household items, and groceries, usually in large quantities and at discounted prices.
-Warehouse Showrooms - -Retail facilities in large, low-cost buildings with large on-
premises inventories and minimal services.
-Specialty Retailers - -Retailers that concentrate on selling a single line or closely related
group of products.
-Traditional Specialty Retailer - -Stores that offer a wide variety of products within a
single category.
-Category Killer - -Large specialty stores that carry a vast selection of products within a
given category.
-Off Price Retailer - -Stores that sell brand-name or designer merchandise at lower-than-
normal prices.
Questions and Answers
Chapter 13 - Chapter 13 - -
-CRM (Customer Relationship Management) - -Strategies and technologies used by
companies to manage and analyze customer interactions and data throughout the customer
lifecycle.
-Time Utility - -The value provided by making a product or service available at the most
suitable time for consumers.
-Place Utility - -The value added to a product by making it available in convenient
locations where consumers can buy it.
-Possession Utility - -The value consumers derive from owning and using the product,
facilitated through the exchange process.
-Form Utility - -The value created by altering or improving the physical characteristics of a
product to make it more appealing to consumers.
-Intermediaries - -Entities that act as middlemen in the distribution process, connecting
manufacturers with consumers.
-4 Marketing Channels for Consumer Products - -Direct to Consumer, Retailer, Wholesaler,
Agent/Broker.
-4 Marketing Channels for Business Products - -Direct Sales, Distributor, Sales
Representative Agencies, Industrial Distributors.
-Strategic Channel Alliance - -An arrangement where one firm's marketing channel is used
to sell another firm's products.
-Multichannel Distribution - -Using more than one type of distribution channel to reach
customers.
-Digital Distribution - -Distribution of digital products like software, music, or e-books
over the internet.
-Chapter 14 - Chapter 14 - -
-Retailing - -The selling of goods and services to consumers for their personal or family
use.
, -Retailer - -A business entity that sells products or services directly to consumers.
-Multichannel Retailing - -A retailing strategy that offers customers multiple ways to buy
products, such as in-store, online, or through catalogs.
-Online Retailing - -The selling of goods and services through the internet.
-General Merchandise Retailers - -Stores that carry a broad variety of merchandise and
offer a variety of services.
-Department Stores - -Large retail establishments that offer a wide range of products
under one roof.
-Discount Stores - -Retail outlets that sell products at lower than typical market prices.
-Extreme Value Store - -Retailers that provide extremely low prices and a broad but
inconsistent assortment of products.
-Convenience Stores - -Small retail stores that offer a limited range of products at a
convenient location.
-Supermarkets - -Large, departmentalized, self-service retailers specializing in food and
some non-food items.
-Superstores - -Large retail stores that carry not only food and non-food items but also
consumer electronics, apparel, and other goods.
-Hypermarkets - -Huge stores combining supermarkets and discount stores.
-Warehouse Clubs - -Retail stores offering a limited selection of brand name appliances,
household items, and groceries, usually in large quantities and at discounted prices.
-Warehouse Showrooms - -Retail facilities in large, low-cost buildings with large on-
premises inventories and minimal services.
-Specialty Retailers - -Retailers that concentrate on selling a single line or closely related
group of products.
-Traditional Specialty Retailer - -Stores that offer a wide variety of products within a
single category.
-Category Killer - -Large specialty stores that carry a vast selection of products within a
given category.
-Off Price Retailer - -Stores that sell brand-name or designer merchandise at lower-than-
normal prices.
