M3305 Study Guide for Exam 3
Class, the exam will consist of 75 multiple choice questions based on:
Text and slides for chapter 17-22
(terms, concepts, categories, and frameworks)
The exam will be closed notes/closed book and you will need to bring a pencil.
The level of difficulty will be
moderate to highly difficult (probably more so than Exam 1, but not as difficult as Exam 2) and require you to
understand/remember: important definitions, benefits or drawbacks associated with the concepts, and an example.
As you are studying, remember
scoring your desired grade (although that may be one
outcome) but rather that the time and effort you spend helps you achieve the first 3 course objectives:
Learning the “language of marketing”
Understand marketing’s philosophies, logic, and major decision areas.
: not all of the topics below will be on the exam, but you can be confident that topics outside what you find
below will not appear.
If a concept appears below, you can assume you need to know all key aspects of the topic …
definitions, sub-categories, important terms that fall under that category, being able to recognize examples, etc…
really anything except specific examples used in the text or in class
Also, I’ve highlighted in
areas where there is significant coverage 4 or more questions
Ch. 17 Retailing and Direct Marketing:
Nature of Retailing (definitions, examples)
– all transactions in which the buyer intends to consume the product through personal,
family, or household use…. Buyers are the ultimate consumers
– an organization that purchases products for the purpose of reselling them to ultimate
.. non-retail transactions occur when retailers sell products to other businesses.
Comparison Shopping Example – car dealerships often cluster in the same general vicinity
Traditional retailing being affected by direct marketing such as TV, catalogs, internet… they are
responding by ex: Wal-Mart is offering more upscale merchandise and extended warranties, Barnes and
Noble developed a website to sell book via the internet
IT making retail very competitive – ex people can now talk to each other about products online
Global Opportunities – companies going abroad such as McDonalds and The Gap
Major Types Retail Stores (be able to distinguish, table 17.1 and slides helpful, also specialty retailers)
– large organization offering a wide product mix and organized into separate
departments – Ex Macy’s, JC Penney, Sears
– self-service, general-merchandise store offering brand name and private-brand
products at low prices – Ex Wal-Mart, Target, K-mart
– small self-service store offering a narrow product assortment in convenient
locations – EX 7-eleven, Circle K
– self-service store offering a complete line of food products and some non-food
products – Kroger, Albertson’s, Winn-Dixie