PAM 223 Quiz 1 answers '04 - PAM 223 Consumer in the Market...

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1PAM 223 Consumer in the Market I: Quiz 1 Fall 2004 1.(A) Explain the marketing concept of “ place utility .” Having the product available where the customer wants it. (6) (B) Identify TWO ways in which Starbucks provides space utility in its marketing mix. Any two valid answers accepted. Some possible answers: having many retail locations concentrated in an area, having retail stores open extended hours during the day. (10) 2. (A) Explain TWO ways in which middlemen reduce “separations” and “discrepancies” in the market exchange process. Spatial: help to physically move products from producers to consumer Time: store products after manufacture until consumer wants them Ownership: often buy products from producers and sell them down the chain of distribution Quantities & Assortment: buy larger quantities of products from many producers to supply more specialized retail outlets down the chain of distribution. (10)
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This note was uploaded on 03/27/2008 for the course PAM 223 taught by Professor Staff during the Spring '05 term at Cornell University (Engineering School).

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PAM 223 Quiz 1 answers '04 - PAM 223 Consumer in the Market...

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