MKT 315 COMPREHENSIVE STUDY GUIDE COMPLETE QUESTIONS AND CORRECT ANSWERS

MKT 315 COMPREHENSIVE STUDY GUIDE
COMPLETE QUESTIONS AND CORRECT
ANSWERS

●● Pricing Strategies
Answer: skimming, penetration and loss leaders


●● Price Skimming Strategy
Answer: The organization starts out with a high price and then slowly
lowers it to capture more of the market. The objective is to skimming
profits one layer at a time.


●● Price Penetration Strategy
Answer: The organization will offer a low price to increase sales and
market share. Price may be increased later on.


●● Wholesalers
Answer: Intermediaries who help to move goods between producers and
retailers by buying goods from producers and selling them to retailers


●● Retailers
Answer: businesses that sell directly to final consumers

, ●● Intermediary Functions
Answer: transactional, logistical, facilitating


●● Transactional Functions
Answer: buying, selling, risk taking


●● Logistical Functions
Answer: assorting, storing, sorting, transporting


●● Facilitating Functions
Answer: make the purchase process easier for customers and
manufacturers


●● Managing Distribution Channels
Answer: Have to manage channels to make sure there's no conflict and
to make sure distributors, wholesalers, agents and retailers to all work
with a company to get their proctors into the outlets that consumers can
purchase them from.


●● Online Retailing
Answer: Shopping from a computer or phone on websites that offer a
wide variety of products or services.