Exam (elaborations)
MAR 3231 exam 1 Hopkins
- Course
- Institution
MAR 3231 exam 1 Hopkins
[Show more]
Seller
Follow
lydiaomutho
Content preview
MAR 3231 exam 1 HopkinsCURRENT ISSUES IN RETAIL - CORRECT ANSWER--how to best serve
customers while earning fair profit
-stand out in highly competitive environment
-grow while retaining core customer
-communicating with millennials
How to best serve customers while earning fair profit - CORRECT
ANSWER--Race to the Bottom (who can be cheaper)
-comes down to customer experience
EX: Walmart vs. Publix
Stand out in highly competitive environment - CORRECT ANSWER--Paradox of
Choice: consumers become overwhelmed by excessive choices
EX: jams and jellies
Grow while retaining core customers - CORRECT ANSWER--customer is center
of retailing process
EX: Amazon (then: higher educated, higher income / now: adapted to all
customers, low prices, fast shipping)
EX: Walmart (unbanked- cash purchases only)
What is the role of retailers in the sorting process? - CORRECT ANSWER-the
point in which all the manufacturers come together
Distribution options for manufacturers - CORRECT ANSWER-Exclusive
Intensive
Exclusive Relationship - CORRECT ANSWER--supplier linked to one or few
retailers to only carry this brand
-in both best interests that both companies are happy
-smoothest relationship
Intensive Relationship - CORRECT ANSWER--sells products in tons of retail
outlets
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller lydiaomutho. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
76800 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now