Marketing Chapter 11: Retailing and Wholesaling
e
After segmenting and defining their target markets, what should retailers do next? A. Decide on the product assortment. B. Decide on the level of service. C. Decide on the store atmosphere D. Decide on the location. E. Decide how they will differentiate and position themselves in the market.
a
By performing the channel function of ________, wholesalers' sales forces help manufacturers reach many small customers at a low cost. A. selling and promoting B. bulk-breaking C. buying and assortment building D. risk bearing E. financing
c
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. franchises B. specialty stores C. service retailers D. non-retailers E. wholesalers
amount of service they offer, product lines, relative prices they charge and how they are organized
How are retailers classified?
brokers and agents
Whose main function is to facilitate buying and selling for which they earn a commission on the selling price?
c
Macy's carries several product lineslong dashtypically clothing, home furnishings, and household goodslong dashwith each line operating as a separate department managed by specialist buyers or merchandisers. Macy's is best described as a(n) ________. A. discount store B. superstore C. department store D. specialty store E. off-price retailer
c
________ refers to the activities involved in selling products or services directly to final consumers for their personal, nonbusiness use. A. Wholesaling B. Warehousing C. Retailing D. Shopper marketing E. Manufacturing
First retailers must segment and define their target markets, then decide how they will differentiate and position themselves in these markets, this leads to the retail marketing mix consisting of product and service assortment, retail prices, promo and distribution, all creating value for targeted retail customers
Explain STP in a retail setting.
e
Retailers must decide on which three major product variables? A. Product assortment, store atmosphere, and price B. Product assortment, services mix, and price C. Product assortment, price, and location D. Product assortment, services mix, and location E. Product assortment, services mix, and store atmosphere
a
Superstores that are actually giant specialty stores and have seen tremendous growth recently are called _______. A. category killers B. service retailers C. supermarkets D. discount stores E. off-price retailers
e
The practice of coming into retail stores to check out merchandise and prices but making purchases online using a computer or mobile device is called _______. A. mobile retailing B. off-price retailing C. experiential retailing D. shopper retailing E. showrooming
wholesaling
What are all the activities involved in selling goods and services to those buying for resale or business use?
retailing
What are all the activities involved in selling products or services directly to final consumers for their personal, nonbusiness use?
e
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. operating at a loss and higher sales volume B. lower margins and lower sales volume C. higher margins and lower sales volume D. higher sales volume and inefficient operations. E. lower margins and higher sales volume
c
The retail marketing mix consists of which of the following? A. Product and service assortment, retail prices, promotion and store differentiation. B. Product and service assortment, retail prices, promotion, and retail segmentation C. Product and service assortment, retail prices, promotion, and location D. Product and service assortment, retail prices, promotion, and retail targeting E. Product and service assortment, retail prices, promotion, and store positioning
showrooming and everything online
What are some new retail atmospheric ideas influenced by the digital era?
full-service (wholesale merchants and industrial distributors) and limited-service
What are the 2 types of merchant wholesalers?
merchant wholesalers, brokers and agents, and manufacturers' and retailers' branches and offices
What are the 3 major groups of wholesalers?
self-service (supermarkets, target), limited-service (sears, jcpenney) and full service (nordstrom, tiffanys)
What are the 3 types of retailers based on amount of service offered?
selling and promoting, buying and assortment building, bulk breaking, warehousing, transportation, financing, risk bearing, market info, management services and advice
What are the functions of wholesalers?
corporate chain, voluntary chain, retailer cooperative, and franchise organization
What are the types of retailers based on organizational approach?
specialty, department, supermarket, convenience, superstore, service retailer
What are the types of retailers based on product lines?
discount store and off-price retailer (independent, factory outlets, warehouse clubs)
What are the types of retailers based on relative prices?
manufacturers' and retailers' branches and offices
What are wholesaling operations conducted by sellers or buyers themselves rather than operating through independent wholesalers?
first influences emotional response (pleasure/displeasure, arousal/boredom) which then influences behavior (time in store, liking for store, buying)
What does atmospherics influence?
discount store
What is a store that carries standard merchandise sold at lower prices with lower margins and higher volumes?
off-price retailer (warehouse clubs, outlets, independent off-price retailers)
What is a store that sells merchandise bought at less-than-regular wholesale prices and sold at less than retail?
c
What is the overall goal when retailers choose their product assortment? A. Offer products that will appeal to as many segments as possible. B. Only choose products that will maximize profits. C. Differentiate the retailer while matching target shoppers' expectations. D. Offer as many products as they can fit on the shelves. E. Offer the same products as their competitors.
atmospherics
What is the way managers manipulate the design of the building, interior space, layout of aisles, texture of carpets and walls, scents, colors, shapes and sounds experienced by customers to achieve a certain effect?
carrying stocks, maintaining a sales force, offering credit, marking deliveries, providing mgmt assistance
What kinds of services do full-service wholesalers do?
d
Which of the following correctly describes the retail practice known as high-low pricing? A. High-low pricing means some products are priced high and others are priced low. B. High-low pricing means retailers charge an everyday low price. C. High-low pricing means retailers do not have to use promotions. D. High-low pricing means charging higher prices on an everyday basis, coupled with frequent sales and other price promotions. E. High-low pricing means the retailer does not have to run sales on selected items.
d
Which of the following statements about major retail trends is true? A. Retail convergence has decreased competition for retailers. B. The lifecycle of new retail forms is getting longer. C. The green movement has not yet affected retailing. D. Online buying is growing at a much brisker pace than retail buying as a whole. E. The global expansion of major retailers into other countries has slowed down.
e
Which type of retailer carries a narrow product line with deep assortments within those lines? A. Department stores B. Superstores C. Supermarkets D. Convenience stores E. Specialty stores
b
Which wholesaler channel function helps reduce inventory holding costs and the risks of suppliers and customers? A. Buying and assortment building B. Warehousing C. Transportation D. Financing E. Risk bearing
brokers
Who brings buyers and sellers together and assist in negotiation, not taking title to goods?
agents
Who represents either buyers or sellers on a more permanent basis, not taking title to goods?
