MKTG 2400 - Exam 5

If a service failure is handled successfully, it will still never result in higher customer loyalty.

Seeks to align supply/demand throughout the supply chain by anticipating customer requirements.

The fastest growing part of our economy is the __ sector.

All activities directly related to the sale of goods/services to the ultimate customer for personal use.

Consumers believe that higher-priced goods are manufactured with materials of better quality.

When you purchase a gallon of milk, which is creating exchange utility?

Occurs in a fluid market, where demand changes rapidly, often hourly.

Customers are more likely to perceive the value of a product to be less than the pricetag indicates if the product's __

If a company sells a product at too low of a price, a shortage will be created.

A price tactic that uses odd-numbered prices to connote bargains and even-numbered prices to imply quality.

Market factors include who the potential customers are, what they buy, and where they buy.

Relationship in which the business rights to operate are granted by the franchisor to the franchisee.

A pricing policy where a firm charges a low price for a product when it is first rolled out to reach a mass market.

A level of profits consistent with the level of risk an organization faces.

Device that sends out connecting signals to customers' smartphones in order to bring them into a retail store.

Pricing policy where a firm charges a high intro price, often couple with heavy promotion.

Organizations that facilitate the movement of products/services from the manufacturer to resellers and institutions.

Breaking down complex tasks into smaller ones and assigning these to specialists creates __

The retailing mix consists of the 4 Ps plus __.

_ enables customers to send products back to the retailer or manufactureer in the event of a defect.

A distribution channel in which producers sell directly to consumers.

Elastic demand is a situation where and increase/decrease in price doesn't significantly affect the demand.

A retail store that offers a nearly complete selection of single-line merchandise and uses self-service and discounts.

Selling of products by reps who work door to door, office to office, or at home sales parties.

Physical and online stores are combined into a single system for delivering on customer demand.