MKTG 400 Exam questions with
answers graded 100%
Place utility - ANS✅✅products and services available where customers want them
- Wells Fargo does, puts the bank's products and services close to the consumer, providing place
utility
Form utility - ANS✅✅production or alteration of a product
- production or alteration of a product—is offered by Ralph Lauren through its online The Polo
Custom Shop program, which offers shirts that meet each customer's specifications.
Time utility - ANS✅✅having a product available at a certain time of year or a convenient time of
day
place utility - ANS✅✅Adding value to products by having them where people want them.
independent retailer - ANS✅✅a retailer owned by a single person
- For the independent retailer, the advantage of this form of ownership is simple: The owner is the
boss. For customers, the independent store can offer convenience, personal service, and lifestyle
compatibility.
Contractual Systems - ANS✅✅Contractual systems involve independently owned stores that band
together to act like a chain.
- One retailer-sponsored cooperative is Associated Grocers, which consists of neighborhood grocers
that all agree with several other independent grocers to buy their goods directly from food
manufacturers.
business-format franchises - ANS✅✅such as McDonald's, 7-Eleven, Subway, and Anytime Fitness,
, product-distribution franchises, - ANS✅✅such as a Ford dealership or a Coca-Cola distributor.
Self-service - ANS✅✅requires that customers perform many functions during the purchase
process
- Warehouse clubs such as Costco, for example, are usually self-service, with all nonessential
customer services eliminated.
- Many gas stations, supermarkets, and airlines today also have self-service lanes and terminals.
Video retailer Redbox has 40,000 kiosks throughout the United States—and operates without a
single clerk
Limited Service - ANS✅✅provide some services, such as credit and merchandise return, but not
others, such as clothing alterations
- General merchandise stores such as Walmart, Kmart, and Target are usually considered limited
service outlets. Customers are responsible for most shopping activities, although salespeople are
available in departments such as consumer electronics, jewelry, and lawn and garden.
Full service - ANS✅✅include most specialty stores and department stores, provide many services
to their customers
- Nordstrom offers a wide variety of services, including on-site alterations and tailoring; free
exchanges and easy returns; gift cards; credit cards through Nordstrom Bank;
Depth of product line - ANS✅✅means the store carries a large assortment of each item, such as a
shoe store that offers running shoes, dress shoes, and children's shoes
Breadth of product line - ANS✅✅refers to the variety of different items a store carries, such as
appliances and books.
scrambled merchandising - ANS✅✅offering several unrelated product lines in a single store
- For example, the modern drugstore carries food, cosmetics, magazines, paper products, toys, small
hardware items, and pharmaceuticals. Supermarkets sell flowers, DVDs, and pharmaceuticals, in
addition to selling
answers graded 100%
Place utility - ANS✅✅products and services available where customers want them
- Wells Fargo does, puts the bank's products and services close to the consumer, providing place
utility
Form utility - ANS✅✅production or alteration of a product
- production or alteration of a product—is offered by Ralph Lauren through its online The Polo
Custom Shop program, which offers shirts that meet each customer's specifications.
Time utility - ANS✅✅having a product available at a certain time of year or a convenient time of
day
place utility - ANS✅✅Adding value to products by having them where people want them.
independent retailer - ANS✅✅a retailer owned by a single person
- For the independent retailer, the advantage of this form of ownership is simple: The owner is the
boss. For customers, the independent store can offer convenience, personal service, and lifestyle
compatibility.
Contractual Systems - ANS✅✅Contractual systems involve independently owned stores that band
together to act like a chain.
- One retailer-sponsored cooperative is Associated Grocers, which consists of neighborhood grocers
that all agree with several other independent grocers to buy their goods directly from food
manufacturers.
business-format franchises - ANS✅✅such as McDonald's, 7-Eleven, Subway, and Anytime Fitness,
, product-distribution franchises, - ANS✅✅such as a Ford dealership or a Coca-Cola distributor.
Self-service - ANS✅✅requires that customers perform many functions during the purchase
process
- Warehouse clubs such as Costco, for example, are usually self-service, with all nonessential
customer services eliminated.
- Many gas stations, supermarkets, and airlines today also have self-service lanes and terminals.
Video retailer Redbox has 40,000 kiosks throughout the United States—and operates without a
single clerk
Limited Service - ANS✅✅provide some services, such as credit and merchandise return, but not
others, such as clothing alterations
- General merchandise stores such as Walmart, Kmart, and Target are usually considered limited
service outlets. Customers are responsible for most shopping activities, although salespeople are
available in departments such as consumer electronics, jewelry, and lawn and garden.
Full service - ANS✅✅include most specialty stores and department stores, provide many services
to their customers
- Nordstrom offers a wide variety of services, including on-site alterations and tailoring; free
exchanges and easy returns; gift cards; credit cards through Nordstrom Bank;
Depth of product line - ANS✅✅means the store carries a large assortment of each item, such as a
shoe store that offers running shoes, dress shoes, and children's shoes
Breadth of product line - ANS✅✅refers to the variety of different items a store carries, such as
appliances and books.
scrambled merchandising - ANS✅✅offering several unrelated product lines in a single store
- For example, the modern drugstore carries food, cosmetics, magazines, paper products, toys, small
hardware items, and pharmaceuticals. Supermarkets sell flowers, DVDs, and pharmaceuticals, in
addition to selling
