Chapter 13 Quiz

Which of the following are the largest group of​ wholesalers, accounting for roughly 50 percent of all​ wholesaling? A. Brokers B. ​Manufacturers' representatives C. ​Manufacturers' agents D. Agents E. Merchant wholesalers

Merchant wholesalers

Retailers must decide on which three major product​ variables? A. Product​ assortment, store​ atmosphere, and price B. Product​ assortment, services​ mix, and location C. Product​ assortment, services​ mix, and store atmosphere D. Product​ assortment, price, and location E. Product​ assortment, services​ mix, and price

Product​ assortment, services​ mix, and store atmosphere

__________ involves focusing the entire marketing process toward turning customers into buyers as they approach the point of sale. A. Shopper marketing B. Retail convergence C. Retailing D. ​Full-service retailing E. Wholesaling

Shopper marketing

In terms of​ location, most stores today cluster together. What is the primary reason for​ this? A. To ensure they all maintain the same profit margin B. To achieve common ownership C. To avoid paying taxes D. To increase their customer pulling power E. To ensure customers will not​ "one-stop" shop

To increase their customer pulling power

Which wholesaler channel function helps reduce inventory holding​ costs? A. Financing B. Warehousing C. Buying and assortment building D. Risk bearing E. Transportation

Warehousing

Which of the following statements regarding wholesaling is​ correct? A. Wholesalers do not need to differentiate themselves. B. Wholesalers do not make positioning decisions. C. Wholesalers must make decisions regarding their marketing mix. D. Wholesalers do not need to segment their markets. E. Wholesalers do not need to define a target market.

Wholesalers must make decisions regarding their marketing mix.

Recently, superstores that are actually giant specialty​ stores, such as Petco and Home​ Depot, have seen tremendous growth. These types of superstores are called​ __________. A. discount stores B. department stores C. ​off-price retailers D. category killers E. warehouse clubs

category killers

A cluster of between 15 and 50 retail stores that usually contains a branch of a department store or variety​ store, a​ supermarket, specialty​ stores, professional​ offices, and​ (sometimes) a bank is a​ __________. A. community shopping center B. lifestyle center C. neighborhood shopping center D. power center E. regional shopping mall

community shopping center

L.L.Bean has turned its flagship store and campus in​ Freeport, Maine into a​ full-fledged outdoor adventure center.​ There, customers can​ hike, kayak, or go seal watching at nearby Cisco Bay. This is an example of​ __________. A. a community shopping center B. experiential retailing C. ​one-stop shopping D. ​full-service retailing E. ​omni-channel retailing

experiential retailing

Retailing today requires​ __________, which means creating a seamless​ cross-channel buying experience that integrates​ in-store, online, and mobile shopping. A. flash sales B. ​omni-channel retailing C. ​full-service retailing D. showrooming E. wholesaling

omni-channel retailing

Increasingly, different types of retailers now sell the same products at the same prices to the same consumers. This trend is called​ __________. A. megaretailing B. showrooming C. mobile retailing D. green retailing E. retail convergence

retail convergence

What are the four broad characteristics used to classify retail​ stores? A. ​Location, product​ lines, price, and organization B. ​Service, location,​ price, and organization C. ​Service, product​ lines, price, and organization D. ​Service, product​ lines, price, and location E. ​Service, product​ lines, target​ market, and price

Service, product​ lines, price, and organization

Which type of retailer carries narrow product lines with deep assortments within those​ lines? A. Convenience stores B. Discount stores C. Superstores D. Specialty stores E. Department stores

Specialty stores

One recent retailing trend resulting from economic conditions is​ __________. A. the rise of megastores B. tighter consumer spending C. green retailing D. retail convergence E. ​pop-up stores

tighter consumer spending

Retailers need to differentiate and position their store and make decisions regarding their retail marketing mix. Before making those​ decisions, retailers must first​ __________. A. decide on the store atmosphere B. develop a website C. choose a location D. hire knowledgeable staff E. segment and define their target market

segment and define their target market

What are the three main types of​ off-price retailers? A. Discount​ stores, factory​ outlets, and warehouse clubs B. ​Franchises, factory​ outlets, and warehouse clubs C. Discount​ stores, factory​ outlets, and convenience stores D. Discount​ stores, convenience​ stores, and supermarkets E. ​Independents, factory​ outlets, and warehouse clubs

​Independents, factory​ outlets, and warehouse clubs

Which of the following best reflects the role of retailing in the distribution​ channel? A. All the activities involved in breaking down large volumes of goods for resale to retailers B. All the activities involved in selling goods over the Internet C. All the activities involved when consumers sell to other consumers on auction websites D. All the activities involved in selling raw materials to manufacturers E. All the activities involved in selling products or services directly to final consumers for their​ personal, nonbusiness use

All the activities involved in selling products or services directly to final consumers for their​ personal, nonbusiness use

Which of the following is a recent trend in​ wholesaling? A. Less emphasis on efficiency B. Increased costs due to the use of​ computerized, automated, and​ Internet-based systems C. Less distinction between large retailers and large wholesalers D. Decreasing the services provided to retailers E. Less attention to building valuable customer relationships

Less distinction between large retailers and large wholesalers

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 selling lower volume B. Higher margins and selling lower volume C. Lower margins and selling higher volumeD. Selling higher volume and having inefficient operations E. Operating at a loss and selling higher volume

Lower margins and selling higher volume

Which of the following statements about retailer marketing decisions is​ correct? A. Stores do not need to differentiate and position themselves. B. Retailers do not have to segment and target their markets. C. Retailers do not differentiate themselves on their service mix. D. Many retailers identify three critical factors for retail​ success: location,​ location, and location. E. Most retailers seek either high markups on higher volume or low markups on lower volume.

Many retailers identify three critical factors for retail​ success: location,​ location, and location.

Which of the following statements regarding retailer pricing decisions is​ correct? A. Competition and economic factors do not influence retail pricing decisions. B. ​High-low pricing is a strategy used by wholesalers when they sell to retailers. C. Everyday low pricing is a strategy that has proven to be ineffective. D. Most retailers seek either high markups on lower volume or low markups on higher volume. E. All retailers use some type of price promotions.

Most retailers seek either high markups on lower volume or low markups on higher volume.

Which of the following statements about major retail trends is​ true? A. Online buying is growing at a much brisker pace than retail buying as a whole. B. Retail convergence has decreased competition for retailers. C. The lifecycle of new retail forms is increasing. D. The global expansion of major retailers into other countries has slowed down. E. The green movement has not yet affected retailing.

Online buying is growing at a much brisker pace than retail buying as a whole.

One new technology being adopted by retailers is​ __________. For​ example, when​ opted-in customers enter a​ store, a signal wakes up an app on their smartphone or​ tablet, which welcomes them and alerts them to​ location-specific rewards and personalized product recommendations within the store. A. showrooming B. scanners C. virtual reality D. beacon technology E. RFID

beacon technology

How do brokers and agents differ from merchant​ wholesalers? A. Brokers and agents do not take title and perform a limited number of specialized functions. B. Brokers and agents do not take title and generally do not specialize by product line or customer type. C. Brokers and agents take title and perform a wide variety of specialized functions. D. Brokers and agents take title and perform a limited number of specialized functions. E. Brokers and agents take title and generally specialize by product line or customer type.

Brokers and agents do not take title and perform a limited number of specialized functions.

Which of the following statements regarding green retailing is​ correct? A. Retailers today are hesitant to adopt environmentally sustainable practices. B. Green retailing initiatives hurt the bottom line by increasing costs. C. Green retailing takes place at the store and does not extend to other channel members. D. The only current green retailing initiative is to offer environmentally friendly products. E. Green retailing initiatives extend to helping consumers be more environmentally responsible.

Green retailing initiatives extend to helping consumers be more environmentally responsible.