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MKTG 329 Final Exam 1 Questions And Accurate Answers
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MKTG 329 Final Exam 1 Questions And Accurate AnswersRetail - ANSWER A business that sells goods or services directly to the public.
Retailer job - ANSWER to offer curation of products to maximize profits from the target
market/demographics.
% of growth equation - ANSWER new-old/old x 100%
Revenue per store - ANSWER revenue / # of store
Profit per store - ANSWER profit / # of stores
Benefits to customers "buying agent" - ANSWER Break bulk
Assorting
Storing
Informing
Serving
How do retailers benefit manufactures? - ANSWER Reach customers-selling agent
Link with customers
Provide feedback
Provide sales data
Absorb risk
Distribution good
Reduces production demand cycle
, Time Utility-ANSWER having a product available at a certain time of year or a convenient
time of day
Place utility-ANSWER having a product where customers can buy it
Possession utility-ANSWER The exchange of a product for money
Form utility - ANSWER the value manufacturers add to materials in the production of
finished goods and services
What do retailers provide? - ANSWER Time place possession, and sometimes form utility
How are category killers in specialty stores different? - ANSWER Size
Category killer is also referred to as - ANSWER Specialty store on steroids
Where is the focus of European retailers? - ANSWER Internationally
What companies are very international? - ANSWER Walmart, Amazon and Costco
Are US retailers typically international or not? - ANSWER Typically are not international
Discount store - ANSWER A store which carries a wide assortment of general
merchandise and offers low prices along with limited service
Service retailer - ANSWER A firm to offer services, not merchandise/goods
Convenience store - ANSWER A smaller store carrying a limited variety in assortment of
merchandise at a convenient location
Supermarket - ANSWER A self-service food store of groceries meat and produce with
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