MKT 305 Exam queries and answers
graded A+
Place - ANS✅✅Making goods and services available in the right quantities and locations when
customers need them.
marketing channel: - ANS✅✅Individuals and firms involved in the process of making a product or
service available to consumers.
importance of place - ANS✅✅decisions have long run effects
Not easy or inexpensive to change your mind
Place affects end cost & user price
Place affects promotion
Place affects consumers perception of value
Place affects volume & profit
Intermediaries - ANS✅✅Transactional
Logistical
Facilitating
Direct Marketing channels - ANS✅✅Direct - Producers handle the distribution themselves
Internet is changing the ease of direct
Direct allows for access to consumers
B2B mostly direct
Indirect Marketing channel - ANS✅✅Use someone else to distribute products
Consumers want all products in one place
Can focus on producing
Profit per unit goes down/volume goes up
3 questions for channels - ANS✅✅Be best coverage ofm y tatget market
, best satisfy the requirements of my target market
be the most profitable
Ideal market exposure - ANS✅✅makes a product available widely enough to satisfy a markets
needs but not exceed them
intensive exposure - ANS✅✅sell products to all
selective exposure - ANS✅✅sell product where it sells best
exclusive - ANS✅✅sell product in only one place
main priorities of logistics - ANS✅✅creating a flow
cost effectiveness
customer service
customer service time - ANS✅✅refers to order cycle or replenishment time. Trend towards JIT
delivery
Dependability - ANS✅✅consiticeny of replenishment
communication - ANS✅✅between maker and seller
convenience - ANS✅✅should be easy to do business. trend towards VMI: Vendor managed
inventory
Promotion - ANS✅✅process of communicating information between a seller and a potentional
buyer to influence attitudes and behavior
promotional mix - ANS✅✅Combination of one or more of the communication tools used to
inform, persuade, or remind prospective buyers
Direct marketing - ANS✅✅promotion with direct communication to market
graded A+
Place - ANS✅✅Making goods and services available in the right quantities and locations when
customers need them.
marketing channel: - ANS✅✅Individuals and firms involved in the process of making a product or
service available to consumers.
importance of place - ANS✅✅decisions have long run effects
Not easy or inexpensive to change your mind
Place affects end cost & user price
Place affects promotion
Place affects consumers perception of value
Place affects volume & profit
Intermediaries - ANS✅✅Transactional
Logistical
Facilitating
Direct Marketing channels - ANS✅✅Direct - Producers handle the distribution themselves
Internet is changing the ease of direct
Direct allows for access to consumers
B2B mostly direct
Indirect Marketing channel - ANS✅✅Use someone else to distribute products
Consumers want all products in one place
Can focus on producing
Profit per unit goes down/volume goes up
3 questions for channels - ANS✅✅Be best coverage ofm y tatget market
, best satisfy the requirements of my target market
be the most profitable
Ideal market exposure - ANS✅✅makes a product available widely enough to satisfy a markets
needs but not exceed them
intensive exposure - ANS✅✅sell products to all
selective exposure - ANS✅✅sell product where it sells best
exclusive - ANS✅✅sell product in only one place
main priorities of logistics - ANS✅✅creating a flow
cost effectiveness
customer service
customer service time - ANS✅✅refers to order cycle or replenishment time. Trend towards JIT
delivery
Dependability - ANS✅✅consiticeny of replenishment
communication - ANS✅✅between maker and seller
convenience - ANS✅✅should be easy to do business. trend towards VMI: Vendor managed
inventory
Promotion - ANS✅✅process of communicating information between a seller and a potentional
buyer to influence attitudes and behavior
promotional mix - ANS✅✅Combination of one or more of the communication tools used to
inform, persuade, or remind prospective buyers
Direct marketing - ANS✅✅promotion with direct communication to market
