Ch. 11 Quiz

E. Decide how they will differentiate and position themselves in the market.

After segmenting and defining their target​ markets, what should retailers do​ next? A. Decide on the store atmosphere B. Decide on the product assortment. C. Decide on the location. D. Decide on the level of service. E. Decide how they will differentiate and position themselves in the market.

E. selling and promoting

By performing the channel function of​ ________, wholesalers' sales forces help manufacturers reach many small customers at a low cost. A. buying and assortment building B. financing C. risk bearing D. ​bulk-breaking E. selling and promoting

A. showrooming

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. showrooming B. ​off-price retailing C. experiential retailing D. shopper retailing E. mobile retailing

D. department store

​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) ________. A. superstore B. ​off-price retailer C. discount store D. department store E. specialty store

B. Retailing

​________ refers to the activities involved in selling products or services directly to final consumers for their​ personal, nonbusiness use. A. Shopper marketing B. Retailing C. Wholesaling D. Manufacturing E. Warehousing

D. lower margins and higher sales volume

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. higher margins and lower sales volume B. lower margins and lower sales volume C. higher sales volume and inefficient operations. D. lower margins and higher sales volume E. operating at a loss and higher sales volume

E. service retailers

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. wholesalers D. ​non-retailers E. service retailers

C. Product​ assortment, services​ mix, and store atmosphere

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

C. category killers

Superstores that are actually giant specialty stores and have seen tremendous growth recently are called​ _______. A. discount stores B. ​off-price retailers C. category killers D. service retailers E. supermarkets

E. Product and service​ assortment, retail​ prices, promotion, and location

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 store positioning C. Product and service​ assortment, retail​ prices, promotion, and retail segmentation D. Product and service​ assortment, retail​ prices, promotion, and retail targeting E. Product and service​ assortment, retail​ prices, promotion, and location

B. Differentiate the retailer while matching target​ shoppers' expectations.

What is the overall goal when retailers choose their product​ assortment? A. Only choose products that will maximize profits. B. Differentiate the retailer while matching target​ shoppers' expectations. C. Offer as many products as they can fit on the shelves. D. Offer products that will appeal to as many segments as possible. E. Offer the same products as their competitors.

E. ​High-low pricing means charging higher prices on an everyday​ basis, coupled with frequent sales and other price promotions.

Which of the following correctly describes the retail practice known as​ high-low pricing? A. ​High-low pricing means retailers charge an everyday low price. B. ​High-low pricing means retailers do not have to use promotions. C. ​High-low pricing means some products are priced high and others are priced low. D. ​High-low pricing means the retailer does not have to run sales on selected items. E. ​High-low pricing means charging higher prices on an everyday​ basis, coupled with frequent sales and other price promotions.

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

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

A. Specialty stores

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

B. Warehousing

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