Marketing Study Guide
Exam #1 Study Guide – MKTG 436.01 – Spring 2013 – Exam Date March 12th 2013
This is not intended as a 100% comprehensive study guide. This study guide does not include material from the guest speakers’ content, nor does it include material from the textbook cases or the articles in the lecture slides. The exam is 70 multiple choice questions.
* What is the best definition of retailing? * Retailing encompasses the business activities involved in selling goods and services to consumers for their personal, family, or household use. It includes every sale to the final consumer. Retailing is the last stage in the channel of distribution.
* What does the sorting process refer to? * The English word "retail" comes from the French word "retailer" wich translates "to resize." This refers to breaking bulk or the sorting process. It goes Manufacturer ->Wholesaler -> Retailer -> Customers
* What most closely approximates how the total U.S. retail sales are divided?
* What is a category killer? * The definition most often associated with the term is a big-box retail chain, Wal-Mart, that is focused on one or few categories of merchandise and offers a wide selection of merchandise in these categories at relatively low prices. The emergence of such stores has taken a toll on specialized local stores in the same market, but also affected many larger department stores.
* Which is NOT an external environmental factor affecting retailers? * These ARE: Customers, Competition, Supply Chain, Legal & Ethics, Technology, Socioeconomics
* What is the goal of scrambled merchandising? * refers to a practice by wholesalers and retailers that carry an increasingly wider assortment of merchandise. It occurs when a retailer adds goods and services that are unrelated to each other and to the firm's original business.
* How much of U.S. retail sales occur over the Internet with e-retailers? * Less than 5%
This is not intended as a 100% comprehensive study guide. This study guide does not include material from the guest speakers’ content, nor does it include material from the textbook cases or the articles in the lecture slides. The exam is 70 multiple choice questions.
* What is the best definition of retailing? * Retailing encompasses the business activities involved in selling goods and services to consumers for their personal, family, or household use. It includes every sale to the final consumer. Retailing is the last stage in the channel of distribution.
* What does the sorting process refer to? * The English word "retail" comes from the French word "retailer" wich translates "to resize." This refers to breaking bulk or the sorting process. It goes Manufacturer ->Wholesaler -> Retailer -> Customers
* What most closely approximates how the total U.S. retail sales are divided?
* What is a category killer? * The definition most often associated with the term is a big-box retail chain, Wal-Mart, that is focused on one or few categories of merchandise and offers a wide selection of merchandise in these categories at relatively low prices. The emergence of such stores has taken a toll on specialized local stores in the same market, but also affected many larger department stores.
* Which is NOT an external environmental factor affecting retailers? * These ARE: Customers, Competition, Supply Chain, Legal & Ethics, Technology, Socioeconomics
* What is the goal of scrambled merchandising? * refers to a practice by wholesalers and retailers that carry an increasingly wider assortment of merchandise. It occurs when a retailer adds goods and services that are unrelated to each other and to the firm's original business.
* How much of U.S. retail sales occur over the Internet with e-retailers? * Less than 5%