OSU Marketing 3250: Chapter 13

Which of the following statements about retailer marketing decisions is correct?

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

Which of the following are the largest group of wholesalers, accounting for roughly 50 percent of all wholesaling?

Merchant wholesalers

Increasingly, different types of retailers now sell the same products at the same prices to the same consumers. The trend is called ________

Retail convergence

Retailers need to differentiate and position their store and make decisions regarding their retail marketing mix. Before making those decisions, retailers must first _________

Segment and define their target market

Which of the following statements regarding wholesaling is correct?

Wholesalers must make decisions regarding their marketing mix

A cluster 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 ________

community shopping center

Which of the following statements regarding green retailing is correct?

Green retailing initiatives extend to helping consumers be more environmentally responsible

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 seagull watching at nearby Cisco Bay. This is an example of

Experimental retailing

A discount score (Target, Kohl's) sells standard merchandise at lower prices. To do this, discount stores accept which of the following two conditions?

Lower margins and selling higher volume

Retailers must decide on which three major product variables?

Product assortment, services mix, and store atmosphere

What are the four brand characteristics used to classify retail stores?

Service, product lines, price, and organization

_______ involves focusing the entire marketing process toward turning customers into buyers as they approach the point of sale

Shopper marketing

Which type of retailer carries narrow product lines with deep assortments within those lines?

Specialty stores

Which wholesaler channel function helps reduce inventory holding costs?

Warehousing

Recently, superstores that are actually giant specialty stores, such as Petco and Home Depot, have seen tremendous growth. These types of superstores are called

category killers

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.

e. Beacon technology

Retailing today requires ___________, which means creating a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping

omni-channel retailing

Which of the following best reflects the role of retailing in the distribution channel?

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

One recent retailing trend resulting from economic conditions is___________

Tighter consumer spending

Which of the following statements regarding retailer pricing decisions is correct?

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

What are the three main types of off-price retailers?

Independents, factory outlets, and warehouse clubs

Which of the following is a recent trend in wholesaling?

Less distinction between large retailers and large wholesalers