Ch 11 Quiz
After segmenting and defining their target markets, retailers must then ____________________.
decide how they will differentiate and position themselves
What is the overall goal when retailers choose their product assortment?
differentiate the retailer while matching target shoppers' expectations
Retailers must decide on which three major product variables?
product assortment, services mix, and store atmosphere
By performing the channel function of ________, wholesalers' sales forces help manufacturers reach many small customers at a low cost.
selling and promoting
Progressive wholesalers recognize that their only reason for existing is to ____________________.
add value
Best Buy, Home Depot, Petco, and Bed Bath & Beyond, which are actually giant specialty stores characterized by immense size and deep assortments of merchandise, are sometimes called _______________.
category killers
Which of the following represents the four major classifications of retail organizations?
corporate chains, voluntary chains, retailer cooperatives, and franchise organizations
Focusing the entire marketing process toward turning shoppers into buyers as they approach the point of sale is known as ______________________.
shopper marketing
Which of the following does NOT represent one of the major trends and developments in retailing?
social e-tailing
Successful retailers of the future must adopt which type of buying experience that is both seamless and integrates multiple types of media?
social shopping retailing
Macy's, Kohl's, and JCPenney practice a retailing pricing strategy called "high-low pricing." Which of the following correctly describes high-low pricing?
the retailer charges higher prices on an everyday basis, coupled with frequent sales and other price promotions
Which of the following is TRUE regarding omni-channel buyers?
they shift easily across online and in-store channels
Which of the following statements about wholesaling is true?
wholesalers must make decisions regarding their marketing mix
What does the phrase "omni-channel buying calls for omni-channel retailing" imply for retailers?
retailers should integrate all available shopping channels and devices into a seamless customer shopping experience
Which of the following describes the activities that play an important role in connecting brands to consumers in the final phases of the buying process?
retailing
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 ________.
service retailers
_____________________ is a retailing technique of carefully orchestrating the store's layout and displays, background music, colors, and smells.
experiential retailing
The Great Recession of 2008-2009 had a profound effect on the economy and consumers. Of the following, which represents one of the major consumer trends resulting from the Great Recession?
it turned free-spending consumers into value-seeking ones
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?
lower margins and higher sales volume
The massive shift in how and where people buy calls for __________________________.
massive shifts in how store retailers operate
Which of the following types of wholesalers are Independently owned businesses that take title to all merchandisehandled?
merchant wholesalers
Which of the following makes up the retail marketing mix?
product and services assortment, price, promotion, and location
Which of the following retail trends is making differentiation more difficult?
retail convergence
Which of the following statements about retailer marketing decisions is correct?
retailers identify three critical factors for retail success: location, location, and location
