MKTG 3310 HOPKINS AUBURN FINAL EXAM || A+ GUARANTEED.
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Module
MKTG 3310 HOPKINS AUBURN
Institution
MKTG 3310 HOPKINS AUBURN
Types of Service Levels correct answers self-service: serve customers who are willing to perform their own locate-compare-select process. limited-service: carries more shopping goods about which customers need information, provides more sales assistance. full-service: carries more specialty goods, ...
MKTG 3310 HOPKINS AUBURN FINAL EXAM || A+
GUARANTEED.
Types of Service Levels correct answers self-service: serve customers who are willing to
perform their own locate-compare-select process. limited-service: carries more shopping goods
about which customers need information, provides more sales assistance. full-service: carries
more specialty goods, assist customers in every phase of the shopping process
omnichannel retailing correct answers creating a seamless cross-channel buying experience that
integrates in-store, online, and mobile shopping
Types of Retailing correct answers Specialty store: carries a narrow product line with a deep
assortment. Department store: carries several product lines, each line operated as a separate
department. Supermarket: large, low cost, low margin, high volume, self-service operation.
Convenience store: carries a limited line of high turnover convenience products at slightly higher
prices. Discount store: sells goods at lower prices with lower margins and higher volumes. Off-
price retailer: sells merchandise bought at less than regular wholesale prices and sold at less than
retail
Advertising correct answers any paid form of non-personal presentation and promotion of ideas,
goods, or services by an identified sponsor
Personal Selling correct answers personal customer interactions by the firms sales force for the
purpose of making sales and building customer relationships
EDLP Pricing correct answers charging constant, everyday low prices with few sales discounts
High Low Pricing correct answers charging higher prices on an everyday basis couples with
frequent sales and other price promotions to increase sales traffic, create a low price image, or
attract customers who will buy other goods at full prices
Sales Promotion correct answers short-term incentives to encourage the purchase or sale of a
product or service
Integrated Marketing Communications correct answers consists of the specific blend of
advertising, public relations, personal selling, sales promotion, and direct marketing tools that the
company uses to engage customers, persuasively communicate customer value, and build
customer relationships
Direct Marketing correct answers personalized, customized and requests an immediate response
Qualify correct answers the process of identifying leads and screening out poor ones
, Preapproach correct answers the sales step in which the salesperson learns as much about a
prospective customer before making a sales call
Approach correct answers the sales step in which the salesperson meets the customer for the first
time
Presentation and Demonstration correct answers the sales step in which the salesperson tells the
"value story" to the buyer, showing how the company's offer solves the customers problems
Handling Objections correct answers the sales step in which a salesperson seeks out, clarifies,
and over comes any customer objections to buying
Closing correct answers the sales step in which the salesperson asks the customer for an order
Follow up correct answers the sales step in which a salesperson follows up after the sale to
ensure customer satisfaction and repeat business
Personal Selling Process correct answers (1) Prospecting and Qualify
(2) Pre-approach,
(3) Approach,
(4) presentation and Demonstration
(5) Handling Objections (6) Closing
(7) Follow-up.
Types of Advertising correct answers Informative, Persuasive, Reminder
Informative Advertising correct answers communicating customer value, building a brand and
company image, telling the market about a product, informing the market of a price change
Persuasive Advertising correct answers building brand preference, encouraging switching to a
brand, persuading customers to purchase now, creating customer engagement
Reminder Advertising correct answers maintaining customer relationships, reminding customer
where to buy a product, keeping the brand in customers minds during off seasons
Branded Community correct answers a community formed on the basis of attachment to a
product or brand. ex. playstation community (sony)
Social Media Marketing correct answers independent and commercial online communication
where people congregate to socialize and share messages, opinions, pictures, videos, and other
content
Sustainable Marketing Concept correct answers a development that meets the needs of the
present without compromising the ability of the future generations to meet their own needs
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