Ch. 11 MML

What are the four characteristics used to classify​ retailers?

- amount of service they offer -the breadth and depth of their product lines -relative prices they charge -how they are organized

The retail marketing mix consists of which of the​ following?

- product and service assortment -retail prices -promotion -location

The three major groups of wholesalers are​ _______

-merchant wholesalers -brokers & agents -manufacturer's and retailers' branches & offices

Which of the following statements about major retail trends is​ true?

-online buying is growing at a much brisker pace than retail buying as a whole

Retailers must decide on which three major product​ variables?

-product assortment -services mix -store atmosphere

What is omni-channel retailing?

Creating a seamless​ cross-channel buying experience that integrates​ in-store, online, and mobile shopping

After segmenting and defining their markets, what should retailers do next?

Decide how they will differentiate and position themselves in the market

What is the overall goal when retailers choose their product​ assortment?

Differentiate the retailer while matching target​ shoppers' expectations

Which of the following statements about major retail trends is​ true?

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

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

Retailers face three major marketing​ decisions: segmentation and​ targeting, store differentiation and​ positioning, and the retail marketing mix.

​Macy's carries several product lineslong dash—typically ​clothing, home​ furnishings, and household goodslong dash—with each line operating as a separate department managed by specialist buyers or merchandisers.​ Macy's is best described as​ a(n) ________.

department store

By practicing​ ______ retailing,​ today's retailers are increasingly adopting environmentally sustainable practices.

green

​___________ are the largest single group of​ wholesalers, accounting for roughly 50 percent of all wholesaling.

merchant wholesalers

The trend of​ ________ has resulted in different types of retailers now selling the same products at the same prices to the same consumers.

retail convergence

​Increasingly, different types of retailers now sell the same products at the same prices to the same consumers. This trend is called​ ___________.

retail convergence

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

retailing

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

shopper marketing

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​ _______.

showrooming

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

specialty stores

One retail trend resulting from economic conditions is​ ________.

tighter consumer spending

Which of the following statements about wholesaling is​ true?

wholesalers must make decisions regarding their marketing mix