Chapter 11

Which of the following statements about shopping centers is correct?

The most common type of shopping center is a strip mall

______ 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 devices is called ______.

showrooming

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

speciality stores

Which wholesaler channel function helps reduce inventory holding costs and the risk of suppliers and customers?

warehousing

What are the four major types of retail organization?

Corporate chains, voluntary chains, retailer cooperatives and franchise organizations

Hotels and motels, banks, airlines, restaurants, colleges, hospitals, movie theatres, tennis clubs, bowling alleys, repair services, hair salons, and dry cleaners are all examples of __________.

Service retailers

A discount store (Target, Kohl's, 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

Retailers must decide on which three major product variables?

Product assortment, services mix, store atmosphere

By performing the channel function of​ ________, wholesalers' sales forces help manufacturers reach many small customers at a low cost.

selling and promotion

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

Merchant wholesalers

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

The retail marketing mix consists of which of the following?

Product and service assortment, retail prices, promotion, and location

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

Carefully orchestrating the store's layout and displays, background music, colors and smells is related to _________.

experiential retailing

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

green

A discount store (Target, Kohl's, 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

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

retail convergence

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

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

Superstores that are actually giant specialty stores and have seen tremendous growth recently are called _______?

Category killers

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

Decide how they will differentiate and position themselves in the market

Macy's carries several product lines-typically clothing, home furnishing, household goods-with each line operating as a separate department managed by specialist buyers or merchandisers. Macy's is best described as ________

Department store

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

Retailing

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

differentiate the retailer while matching target shoppers' expectations