MKT 3250 Exam 2 | Verified with 100% Correct Answers
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Course
MKT 3250
Institution
MKT 3250
MKT 3250 Exam 2 | Verified with 100% Correct Answers The ________ function represents the role that Hope Spring's distributors have in storing, sorting, and transporting bottled water to the Coffee Collective. Logistical A(n) ________ is an intermediary who sells Hope Springs' bottled water to re...
The ________ function represents the role that Hope Spring's distributors have in
storing, sorting, and transporting bottled water to the Coffee Collective.
Logistical
A(n) ________ is an intermediary who sells Hope Springs' bottled water to retailers
such as The Coffee Collective.
Wholesaler
By satisfying the customer service factor of ________, the distributor will ensure that
deliveries of Hope Springs' bottled water to The Coffee Collective are consistent in lead-
time, will arrive safely, and are complete.
dependability
Given Hope Springs' focus on the environment, it actively practices ________ to
support retailers' water bottle recycling initiatives by collecting their used water bottles
and reusing or disposing the plastic whenever possible.
reverse logistics
When Jeff Bezos founded Amazon.com in 1994, he was laying the foundation for the
world's largest ________, because Amazon.com uses the Internet to make its products
and services available to its consumers.
digital marketing channel
Amazon creates many utilities for its customers, but perhaps the most valuable utility for
consumers is ________, the utility created by having the offerings available where
consumers need it, on Amazon.com.
Place
To improve its inventory turnover, Amazon shares purchasing forecasts and sales
information with its suppliers to ensure that the right amount of the right product arrives
at the right place at the lowest possible cost. When Amazon and its suppliers work
together to move a product from the source of raw materials to consumption, it is an
example of
Logistics
Amazon and its suppliers have an intense focus on cost and efficiency in the supply
chain with a goal of creating ________ for consumers.
lower prices
Shoppers on Amazon.com have differing needs that must be satisfied during the
exchange, which often include the need for information, convenience, variety, and/or
pre- or postsale services. These needs are collectively referred to as
, buyer requirements
A student goes onto Amazon.com to purchase a biology textbook that was published by
McGraw-Hill Higher Education and then sold to Amazon through a book wholesaler. In
this marketing channel, Amazon.com would best be classified as a
virtual retailer
One of the major drawbacks of online shopping is the lack of instant gratification
because consumers must wait for their products to be delivered. One of Amazon's
recent innovations is the development of unmanned aerial drones that allow Amazon to
provide its customers with faster delivery service—in some cases, 30-minute delivery.
This innovation in supply chain management serves as an example of innovation driven
by an understanding of the
customer
To create ________ utility for her customers, Martha decides to open The Coffee
Collective close to the college campus.
place
The Coffee Collective, a(n) ________, is the most common form of retail ownership.
independent retailer
Decisions by The Coffee Collective regarding which type of organic dog biscuit to offer
is an example of which retail mix component?
merchandise
When Martha was starting The Coffee Collective, she purchased the right furniture,
painted with certain colors, hired the right employees, and is now selling appropriate
snacks. These are all examples of which component of the retail mix?
communication
When measuring the effectiveness of her retailing strategy, Martha decides to measure
the sales per square foot, which is calculated by dividing ________ by selling area in
square feet.
total sales
The Mall of America, while located in chilly Minneapolis, MN, is located at the
intersection of major freeways, with easy access to a major airport in a thriving
metropolitan area. Store location is to the retailing mix as ________ is to the marketing
mix.
Place
The Mall of America is currently more than 4.87 million square feet and has more than
400 stores—with plans for expansion. With its large size and diverse retail offerings, the
Mall of America would best be classified as a
regional shopping center
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