MKTG 3340 final exam
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1. possession utility: getting a product or service to consumers so they can own or use it
2. depth of product line: -stores that carry a considerable assortment of a related line of items are limited-line
stores
-ex: Sports Authority carries a considerable amount of sports equipment from weight-lifting accessories to running
shoes
3. limited service: -provide some services such as credit and merchandise return, but not others, such as
clothing alterations
-ex: general merchandise stores like Target, Walmart and Kmart
-customers are responsible for most shopping, but salespeople may be in the aisle
4. specialty outlet: -a title for both limited- and single-line stores (victoria's secret is single-line)
-focus on one type of product such as electronics, office supplies or books and set very competitive prices
-referred to as category killers because they often dominate the market
-category killers often shift to smaller stores and use price matching to compete with online retailers
5. direct mail: the store that comes to the door
-attractive because if eliminates the cost of a store and clerk, improves marketing efficiency through segmentation and
targeting, and they create customer value by providing a fast and convenient means of making a purchase
-encourage consumers to visit a website or social media page
6. telemarketing: -more efficient than direct mail in means of targeting consumers
-used to cut costs but still maintain access to their customers
-annual sales exceed $332 billion
-issues with it include consumer privacy, industry standards and ethical guidelines
7. maintained markup: -also known as gross margin, which is difference between final selling price and
retailer cost
-difference between original markup is original markup is set first, and then when product doesn't sell the selling price
is reduced to bring us to this
8. rack jobber: -type of limited-service wholesaler
-furnishes the racks or shelves that display merchandise in retail stores, perform all channel functions, and sell on
consignment to retailers, which means they retain the title to the products displayed and bill retailers only for the
merchandise sold
-familiar products such as hosiery, toys, housewares and health and beauty items are sold by them
9. IMC program: -integrated marketing communications
-the concept of designing marketing communications programs that coordinate all promotional activities to provide a
1/6
, MKTG 3340 final exam
Study online at https://quizlet.com/_hwae1r
consistent message across all audiences
-by taking consumer expectations into consideration, it is a key element in a company's customer experience manage-
ment strategy
10. communication error/response: -examples of errors: the source may not adequately transform the
abstract idea into an effective set of symbols, a properly encoded message may be sent through the wrong channel
and never make it to the intended receiver, the receiver may not properly transform the set of symbols into the correct
abstract idea, or feedback may be so delayed or distorted that it is of no use to the sender
-a response is the impact the message had on the receiver's knowledge, attitudes or behaviors
11. introduction stage: informing a consumer to increase their awareness of a product is primary promotiona
objective. All four P's are used at this time
12. growth stage: primary promotional objective is to persuade the consumer to buy the product rather than
substitutes
-sales promotion is less important, while advertising is primary because it stresses brand differences. Personal selling
is used to solidify the channel of distribution
13. push strategy: directing the promotional mix to channel members to gain their cooperation in ordering and
stocking the product
-personal selling and sales promotion play major roles
-push the product through the channel to get members of channel to push it to consumer
14. pull strategy: used when manufacturers face resistance from the channel members so they go to the
consumer first
15. demographics: -look at your target audience such as age or gender
16. personal selling: -the two-way flow of communication between a buyer and seller designed to influence a
person's or group's purchase decision
-usually face to face
17. personal selling advantages/disadvantages: -advantages include the presentation is con-
trolled, the reaction is seen and heard
-disadvantage is flexibility, no consistent communication is given to all customers, also largest disadvantage is high cost,
most expensive form of selling
18. frequency: -when advertisers want to reach the same audience more than once, they are concerned with this
-it is the average number of times a person in the target audience is exposed to a message or advertisement
-greater this is viewed as desirable
2/6
Study online at https://quizlet.com/_hwae1r
1. possession utility: getting a product or service to consumers so they can own or use it
2. depth of product line: -stores that carry a considerable assortment of a related line of items are limited-line
stores
-ex: Sports Authority carries a considerable amount of sports equipment from weight-lifting accessories to running
shoes
3. limited service: -provide some services such as credit and merchandise return, but not others, such as
clothing alterations
-ex: general merchandise stores like Target, Walmart and Kmart
-customers are responsible for most shopping, but salespeople may be in the aisle
4. specialty outlet: -a title for both limited- and single-line stores (victoria's secret is single-line)
-focus on one type of product such as electronics, office supplies or books and set very competitive prices
-referred to as category killers because they often dominate the market
-category killers often shift to smaller stores and use price matching to compete with online retailers
5. direct mail: the store that comes to the door
-attractive because if eliminates the cost of a store and clerk, improves marketing efficiency through segmentation and
targeting, and they create customer value by providing a fast and convenient means of making a purchase
-encourage consumers to visit a website or social media page
6. telemarketing: -more efficient than direct mail in means of targeting consumers
-used to cut costs but still maintain access to their customers
-annual sales exceed $332 billion
-issues with it include consumer privacy, industry standards and ethical guidelines
7. maintained markup: -also known as gross margin, which is difference between final selling price and
retailer cost
-difference between original markup is original markup is set first, and then when product doesn't sell the selling price
is reduced to bring us to this
8. rack jobber: -type of limited-service wholesaler
-furnishes the racks or shelves that display merchandise in retail stores, perform all channel functions, and sell on
consignment to retailers, which means they retain the title to the products displayed and bill retailers only for the
merchandise sold
-familiar products such as hosiery, toys, housewares and health and beauty items are sold by them
9. IMC program: -integrated marketing communications
-the concept of designing marketing communications programs that coordinate all promotional activities to provide a
1/6
, MKTG 3340 final exam
Study online at https://quizlet.com/_hwae1r
consistent message across all audiences
-by taking consumer expectations into consideration, it is a key element in a company's customer experience manage-
ment strategy
10. communication error/response: -examples of errors: the source may not adequately transform the
abstract idea into an effective set of symbols, a properly encoded message may be sent through the wrong channel
and never make it to the intended receiver, the receiver may not properly transform the set of symbols into the correct
abstract idea, or feedback may be so delayed or distorted that it is of no use to the sender
-a response is the impact the message had on the receiver's knowledge, attitudes or behaviors
11. introduction stage: informing a consumer to increase their awareness of a product is primary promotiona
objective. All four P's are used at this time
12. growth stage: primary promotional objective is to persuade the consumer to buy the product rather than
substitutes
-sales promotion is less important, while advertising is primary because it stresses brand differences. Personal selling
is used to solidify the channel of distribution
13. push strategy: directing the promotional mix to channel members to gain their cooperation in ordering and
stocking the product
-personal selling and sales promotion play major roles
-push the product through the channel to get members of channel to push it to consumer
14. pull strategy: used when manufacturers face resistance from the channel members so they go to the
consumer first
15. demographics: -look at your target audience such as age or gender
16. personal selling: -the two-way flow of communication between a buyer and seller designed to influence a
person's or group's purchase decision
-usually face to face
17. personal selling advantages/disadvantages: -advantages include the presentation is con-
trolled, the reaction is seen and heard
-disadvantage is flexibility, no consistent communication is given to all customers, also largest disadvantage is high cost,
most expensive form of selling
18. frequency: -when advertisers want to reach the same audience more than once, they are concerned with this
-it is the average number of times a person in the target audience is exposed to a message or advertisement
-greater this is viewed as desirable
2/6
