MKTG 3310 EXAM 4 REVIEW || with 100% Accurate Solutions.
7 views 0 purchase
Course
MKTG 3310
Institution
MKTG 3310
A famous fantasy writer has published a new novel. Bookstores expect that at least some customers will want the book, but whether it will become a best-seller is less certain. The bookstores' primary inventory management challenge is deciding correct answers how many books will satisfy customer dem...
MKTG 3310 EXAM 4 REVIEW || with 100% Accurate
Solutions.
A famous fantasy writer has published a new novel. Bookstores expect that at least some
customers will want the book, but whether it will become a best-seller is less certain. The
bookstores' primary inventory management challenge is deciding correct answers how many
books will satisfy customer demand without a high cost of inventory
When ________Blank power is evident, the channel member exerting the power offers some
type of compensation to gain power over another member. correct answers reward
Mark is glad his company finally converted to an RFID system. Now, he no longer needs to go
through all the new goods to make sure what the company ordered is what it received. Mark is
responsible for ________Blank products in his company. correct answers checking
In a retail supply chain, the ________Blank records the purchase information and electronically
sends it to the corporate office. correct answers POS terminal
When Gigantic Furniture Big Box stores promise to purchase larger quantities if a manufacturer
will lower its wholesale price, it is exhibiting ________Blank power. correct answers reward
Ezra works for Bloomington Inc., which buys plumbing products directly from the manufacturer
and resells them to retailers, which then sell the products to consumers. Ezra works for a correct
answers wholesaler
When supply chain members view their goals and ultimate success as intricately linked, or
________Blank, they develop deeper long-term relationships. correct answers interdependent
Who retains complete power in a corporate vertical marketing system? correct answers parent
company
The importance of place is often underestimated in the marketing mix simply because correct
answers it happens behind the scenes
Which element of the marketing mix specifically deals with supply chain management? correct
answers place
A company that is able to keep enough parts available to manufacture its products without
having too many left over is probably relying on a correct answers just-in-time or quick response
inventory system.
Mae would love to get her company's line of wall paints into Lowe's for sale. She believes that if
Lowe's sells the products, other retailers will also want to. Which type of power does Mae hope
to achieve? correct answers referent
,When her company's component parts were delivered late for the second time in a month, Fatima
withheld payment from her supplier until deliveries were back on schedule. This is an example
of ________Blank power. correct answers coercive
Especially in the fashion industry where styles and trends change rapidly, a quick response
system can correct answers align deliveries more closely with actual sales.
Macy's may have ________Blank power if a supplier desperately wants to be associated with the
store, because being known as an important Macy's supplier enables that supplier to attract other
retailers' business. correct answers referent
Today, when a customer orders merchandise from an online vendor, the vendor usually emails an
immediate order confirmation. Usually within a day or two, a second message arrives stating that
the order is in the mail. This second message is a type of correct answers advanced shipping
notice.
H&M has adopted the inventory management system that delivers less merchandise on a more
frequent basis than in traditional inventory systems. The firm gets the merchandise just in time
for it to be used in the manufacture of another product or for sale when the customer wants it.
This is an example of a(n) ________Blank inventory system. correct answers quick response
(QR)
What would typically happen during the first flow of information through the marketing
channel? correct answers The sales associate at a store scans a UPC tag
When Lowe's Home Improvement stores sell to consumers directly, it acts as a ________Blank;
when it sells to other businesses, such as a building contractor, it acts as a ________Blank.
correct answers retailer; wholesaler
Seamus wants his tool-manufacturing company to implement a just-in-time delivery system.
Seamus needs to start with correct answers knowledge of customer demand.
Customers interacting with omnichannel retailers most desire a(n) ________Blank experience
regardless of the channel they use. correct answers seamless
Mulberry Street Fashions is launching a new line of one-of-a-kind embroidered baseball jackets.
Each piece is handcrafted, and production volumes will be very low. To emphasize the unique
nature of these jackets, Mulberry Street Fashions will most likely choose ________Blank
distribution correct answers exclusive
The percentage of a customer's purchases made from a particular retailer is referred to as correct
answers share of wallet
When Cheyenne shops in her town, she always buys something at her favorite store, Bliss
Boutique, because the owner burns scented candles, plays calming music for shoppers, and
, creatively displays the merchandise. Bliss Boutique understands the importance of correct
answers atmospherics
Which of these activities is least likely to be improved with the use of an integrated CRM?
correct answers collecting payments
Which statement represents the best reason a manufacturer of high-end products might consider
selling products in a warehouse club? correct answers The manufacturer overestimated demand
or has a great deal of returned merchandise from other retailers
Hannah was surprised to see online retailers using information about her past purchases to
customize promotions targeted to her the next time she visited the retailer's website. The retailer
is using the information to correct answers increase the share of wallet from its best customers
Marko owns an oil-change business called Oil Only. He changes oil in cars—and that is all he
does. What kind of retail business is this? correct answers service retailer
One product strategy by which retailers differentiate themselves from competitors is correct
answers the use of private-label brands
A(n) ________Blank distribution intensity helps a seller maintain a particular image and control
the flow of merchandise into an area without having to be exclusive. correct answers selective
Roger spent a lot of time looking at locations for his new store. He wanted it to be convenient for
his customers to get to, but also in an area that would draw new customers. Roger is focusing on
which function of the four Ps? correct answers place
Traditionally, retailers treated all their customers ________Blank, but today, successful retailers
________Blank. correct answers identically; provide more value to their best customers
Why are omnichannel price differences potentially problematic? correct answers Consumers can
check prices on the Internet.
In which retail category would you place Tisha's Beauty Salon? correct answers service retailer
Unusual and exciting displays like a sporting goods store's climbing wall and stocked aquarium
are examples of correct answers in-store presentation
As a type of retailer, category specialists offer correct answers predominantly a self-service
approach with a narrow, deep assortment.
Which type of store is small and offers a limited merchandise assortment at very low prices?
correct answers extreme-value retailers
In omnichannel retailing, what visible element must often be adjusted because of competition
faced in different channels? correct answers pricing
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 EFT, 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 this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller FullyFocus. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R232,92. You're not tied to anything after your purchase.
