Exam 3 Review

Exam 3 Review - MKT 3355 Abbreviated Review for Exam 3 1...

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MKT 3355 – Abbreviated Review for Exam 3 1. Which of the entities in the retail chain can perform one or more of the retail channel tasks? Manufacture or wholesaler - can take care of few or many functions such as shipping, marking merchandise, inventory storage, displays, research etc. Specialists- can undertake a particular task: buying office, delivery firm, warehouse, marketing research firm, ad agency, accountant, credit bureau, and computer service firm. Consumer- can be responsible for delivery, credit, sales effort (self checkouts), product alterations (do-it-yourself) 2. What are the two main types of organizing a retail store that has multi-units? What are the major advantages and disadvantages of each type? In a centralized organization, all purchases emanate from one office. o Adv: integration of effort, strict controls, consistent image, and proximity to top management, staff support, and volume discounts. o Dis: inflexibility, time delays, poor morale at local stores, and excessive uniformity. In a decentralized organization, decisions are made locally or regionally. o Adv: adaptability to local conditions, quick order processing, and improved morale because of branch autonomy. o Dis: disjointed planning, inconsistent image, limited controls, little staff support, and a loss of volume discounts. 3. What are the two ways of classifications of ways of assigning (and training them) employees job responsibilities in a retail store? What are the major advantages and disadvantages of each way? What is the disadvantage of extreme specialization in job assignment? Job standardization - Keeps tasks of employees with similar positions in different departments rather uniform. Ex cahier in clothing same as cashier in shoes. Cross-Training - Enables personnel to learn tasks associated with more than one job. A firm increases personnel flexibility and reduces the number of employees needed at any time by job standardization and cross-training. Disadvantages of extreme specialization: boredom, people not being aware of their jobs’ importance, and the need for more employees 4. What is meant by a job analysis? What is a job description? What is the relationship between a job analysis, a job description, and an advertisement to recruit a retail employee?
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Job Analysis - Consists of gathering information about each job's functions and requirements: o duties, o responsibilities, o aptitude, o interest, o education, o experience, o and physical tasks. It is used to select personnel, set performance standards, and assign salaries. Traditional Job Description- Contains each position's title, supervisory relationships (superior and subordinate), committee assignments, and the specific ongoing roles and tasks. Goal-Oriented Job Description-
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Exam 3 Review - MKT 3355 Abbreviated Review for Exam 3 1...

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