CH 11 QUIZ
What is the overall goal when retailers choose their product assortment? A. Offer as many products as they can fit on the shelves B. Offer products that will appeal to as many segments as possible C. Differentiate the retailer while matching target shoppers' expectations D. Only choose products that will maximize profits E. Offer the same products as their competitors
Differentiate the retailer while matching target shoppers' expectations
________ is a retailing technique of carefully orchestrating the store's layout and displays, background music, colors, and smells. A. Wholesaling B. Environmental retailing C. Experiential retailing D. Omni-channel retailing E. Interior design
Experiential retailing
The Great Recession of 2008-2009 had a profound effect on the economy and consumers. Of the following, which represents one of the major consumer trends resulting from the Great Recession? A. It turned brick-and-mortar retailers into Internet-only retailers. B. It forced consumers to become omni-channel shoppers. C. It created a trend away from consumer spending on well-known brands. D. It restricted retail expansion domestically and internationally. E. It turned free-spending consumers into value-seeking ones.
It turned free-spending consumers into value-seeking ones.
A discount store (for example, Target, Kohl's, or Walmart) sells standard merchandise at lower prices. To do this, discount stores accept which of the following two conditions? A. Lower margins and higher sales volume This is the correct answer. B. Higher sales volume and inefficient operations C. Lower margins and lower sales volume D. Operating at a loss and higher sales volume E. Higher margins and lower sales volume
Lower margins and higher sales volume
Which of the following makes up the retail marketing mix? A. Product and services assortment, price, promotion, and retail targeting B. Product and services assortment, price, promotion and store differentiation C. Product and services assortment, price, promotion, and retail segmentation D. Product and services assortment, price, promotion, and location . E. Product and services assortment, prices, promotion, and store positioning
Product and services assortment, price, promotion, and location
Retailers must decide on which three major product variables? A. Product assortment, price, and location B. Product assortment, store atmosphere, and price C. Product assortment, services mix, and store atmosphere D. Product assortment, services mix, and price E. Product assortment, services mix, and location
Product assortment, services mix, and store atmosphere
Which of the following retail trends is making differentiation more difficult? A. Retail global expansion B. The demise of brick-and-mortar retail C. Retail convergence D. Value-seeking consumers E. Omni-channel retailing
Retail convergence
Which of the following statements about retailer marketing decisions is correct? A. Retailers do not have to segment and target their markets. B. Retailers do not differentiate themselves on their service mix. C. Stores do not need to differentiate and position themselves. D. Most retailers seek either high markups on higher volume or low markups on lower volume. E. Retailers identify three critical factors for retail success: location, location, and location.
Retailers identify three critical factors for retail success: location, location, and location.
What does the phrase "omni-channel buying calls for omni-channel retailing" imply for retailers? A. Retailers should integrate all available supply-chain channels into their distribution systems. B. Retailers should plan and budget for expansion of brick-and-mortar shopping experiences. C. Retailers should make certain they focus on social and digital media as their main advertising vehicles. D. Retailers should integrate all available shopping channels and devices into a seamless customer shopping experience. E. Retailers should attempt to attract omni-channel buyers to brick-and-mortar settings through experiential retailing.
Retailers should integrate all available shopping channels and devices into a seamless customer shopping experience
Which of the following does NOT represent one of the major trends and developments in retailing? A. Retail convergence B. A surge in green retailing C. The rise of megaretailers D. Growing importance of retail technology E. Social e-tailing
Social e-tailing
Which of the following statements about wholesaling is true? A. Wholesalers do not make positioning decisions. B. Wholesalers do not need to define a target market. C. Wholesalers must make decisions regarding their marketing mix. . D. Wholesalers do not need to differentiate themselves. E. Wholesalers do not need to segment their markets.
Wholesalers must make decisions regarding their marketing mix.
After segmenting and defining their target markets, retailers must then ____________________. A. decide on pricing by product line and assortment B. decide how they will differentiate and position themselves . C. decide on the store atmosphere and shopping experience D. decide on the product assortment and volume they will stock E. decide on the level of service they will provide
decide how they will differentiate and position themselves
Focusing the entire marketing process toward turning shoppers into buyers as they approach the point of sale is known as ______________________. A. showrooming B. internal marketing C. warehousing D. shopper marketing . E. retailing
shopper marketing
Which of the following types of wholesalers are Independently owned businesses that take title to all merchandise handled? A. Merchant wholesalers B. Manufacturers' agents C. Rack jobbers D. Brokers E. Industrial distributors
Merchant wholesalers
Successful retailers of the future must adopt which type of buying experience that is both seamless and integrates multiple types of media? A. Social shopping retailing B. Direct-to-consumer retailing C. Omni-channel retailing D. Discount retailing E. Off-price retailing
Social shopping retailing
Which of the following is TRUE regarding omni-channel buyers? A. They prefer the online environment. B. They purchase online but tend to purchase more in-store. C. They shift easily across online and in-store channels. D. They do not shift easily across online and in-store channels. E. They always shop in-store channels, then order online.
They shift easily across online and in-store channels.
Which of the following represents the four major classifications of retail organizations? A. Discount stores, service retailers, superstores, and supermarkets B. Corporate chains, voluntary chains, retailer cooperatives, and wholesalers C. Corporate chains, wholesalers, superstores, and franchise organizations D. Corporate chains, voluntary chains, retailer cooperatives, and franchise organizations E. Corporate chains, voluntary chains, wholesalers, and franchise organizations
Corporate chains, voluntary chains, retailer cooperatives, and franchise organizations
Macy's, Kohl's, and JCPenney practice a retailing pricing strategy called "high-low pricing." Which of the following correctly describes high-low pricing? A. The retailer does not have to run sales on selected items. B. Retailers do not have to use promotions. C. Retailers charge an everyday low price with no special promotions. D. The retailer charges higher prices on an everyday basis, coupled with frequent sales and other price promotions. E. Some products are priced high, others are priced low, and still others are priced at bargain-basement levels.
The retailer charges higher prices on an everyday basis, coupled with frequent sales and other price promotions.
By performing the channel function of ________, wholesalers' sales forces help manufacturers reach many small customers at a low cost. A. selling and promoting B. financing C. bulk-breaking D. buying and assortment building E. risk bearing
selling and promoting
Hotels and motels, banks, airlines, restaurants, colleges, hospitals, movie theaters, tennis clubs, bowling alleys, repair services, hair salons, and dry cleaners are all examples of ________. A. non-retailers B. service retailers C. franchises D. specialty stores E. wholesalers
service retailers
Best Buy, Home Depot, Petco, and Bed Bath & Beyond, which are actually giant specialty stores characterized by immense size and deep assortments of merchandise, are sometimes called _______________. A. category killers B. service retailers C. discount stores D. supermarkets E. off-price retailers
category killers
Which of the following describes the activities that play an important role in connecting brands to consumers in the final phases of the buying process? A. Shopper marketing B. Warehousing C. Retailing D. Manufacturing E. Wholesaling
Retailing
Progressive wholesalers recognize that their only reason for existing is to ____________________. A. finance retailing transactions B. automate distribution C. add value . D. bear the risk of sales and distribution E. provide selling support
add value
The massive shift in how and where people buy calls for __________________________. A. massive spending increases in advertising and sales promotion B. massive shifts in how store retailers operate C. massive spending in social media for brick-and-mortar retailers D. massive shifts in pricing strategies E. massive shifts to online-only environments for brick-and-mortar retailers
massive shifts in how store retailers operate