chapter 11

superstore

a store much larger than a regular supermarket that offers a large assortment of routinely purchased food products, nonfood items, and services

Promotion Decisions

advertising, personal selling, sales promotion, public relations, direct marketing

retail marketing mix

product and service assortment retail prices promotion distribution (location)

Product and service decision

product assortment, services mix(experimental retailing), store atmosphere

First Moment of Truth

the critical three to seven seconds that a shopper considers a product on a store shelf

voluntary chains

wholesaler-sponsored groups that work with "independent" retailers

off-price retailers

A store that sells merchandise bought at less-than-regular wholesaleprices and sold at less than retail.

Types of Retailers

Amount of service offered Breadth and depth of the product lines Relative prices charged Way they are organized

Of product and services​ assortment, price,​ promotion, and​ place, which plays one of the most important roles in aligning target markets and​ positioning? A. Services assortment B. Promotion C. Place D. Product assortment E. Price

C

The massive shift in how and where people buy calls for​ __________________________. A. massive shifts in pricing strategies B. massive spending in social media for​ brick-and-mortar retailers C. massive shifts to​ online-only environments for​ brick-and-mortar retailers D. massive shifts in how store retailers operate This is the correct answer. E. massive spending increases in advertising and sales promotion

D

shopping center

Region, community, neighborhood, power center, lifestyle center

corporate chain

a firm that owns and manages more than one store—and often it's many.

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

D

Which of the following sets of characteristics correctly classifies​ retailers? A. Amount of service​ offered, the relative prices they​ charge, target​ customers, and store size B. Amount of service​ offered, breadth and depth of product​ lines, relative prices they​ charge, and store size C. Breadth and depth of product​ lines, relative prices they​ charge, location of the​ store, and store size D. Amount of service​ offered, the breadth and depth of product​ lines, relative prices they​ charge, and how they are organized E. Location of the​ store, relative prices they​ charge, target​ customers, and store size

D

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​ _______________. A. category killers B. ​off-price retailers C. discount stores D. service retailers E. supermarkets

A

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

A

What does the phrase​ "omni-channel buying calls for​ omni-channel retailing" imply for​ retailers? A. Retailers should integrate all available shopping channels and devices into a seamless customer shopping experience. B. Retailers should attempt to attract​ omni-channel buyers to​ brick-and-mortar settings through experiential retailing. C. Retailers should plan and budget for expansion of​ brick-and-mortar shopping experiences. D. Retailers should make certain they focus on social and digital media as their main advertising vehicles. E. Retailers should integrate all available​ supply-chain channels into their distribution systems.

A

Major Store Retailer Types

1. Specialty store 2. Department store 3. Supermarket 4. Convenience store 5. Discount store 6. Off-price retailer 7. Superstore

Which of the following does NOT represent one of the major trends and developments in​ retailing? A. Growing importance of retail technology B. Social​ e-tailing C. The rise of megaretailers D. A surge in green retailing E. Retail convergence

B

Focusing the entire marketing process toward turning shoppers into buyers as they approach the point of sale is known as​ ______________________. A. internal marketing B. warehousing C. shopper marketing D. retailing E. showrooming

B

Wholesaling

all the activities involved in selling goods and services to those buying for resale or business use

Retailing trend

1.Tighter consumer spending 2.new retake forms (flash sale, retail convergence) 3.rise of mega retailers 4.growth of online retailing 5.Green retailing 6. Global expansion

​Omni-channel retailing goes beyond just helping​ in-store customers as they​ cross-shop on mobile devices and requires​ _________________________. A.carefully integrating the entire range of available shopping channels B.carefully integrating all elements of the marketing mix to maximize value C.integration of product​ assortment, services​ mix, and price D.extra attention to product​ assortment, store​ atmosphere, and price E.careful​ targeting, differentiation, and positioning

A

Independent off-price retailer

an off-price retailer that is either independently owned and run or is a division of a larger retail corporation

warehouse club

an off-price retailer that sells a limited selection of brand name grocery items, appliances, clothing, and other goods at deep discounts to members who pay annual membership fees

Retail strategy

retail segmentation and targeting, store differentiation and positioning, marketing mix

Amount of service

self service, limited service, full service

Relative price store

1. Discount store 2.. Off-price retailer 3. category killer 4. service retailer

products line store

1. Specialty store 2. Department store 3. Supermarket 4. Convenience store 5. superstore

_____________________ is a retailing technique of carefully orchestrating the​ store's layout and​ displays, background​ music, colors, and smells. A. Interior design B. Experiential retailing C. Wholesaling D. Environmental retailing E. ​Omni-channel retailing

B

Major types of retailer organization

Corporate chain voluntary chain retailer cooperative franchise organization

Successful retailers of the future must adopt which type of buying experience that is both seamless and integrates multiple types of​ media? A. Discount retailing B. ​Omni-channel retailing C. ​Off-price retailing D. ​Direct-to-consumer retailing E. Social shopping retailing

E

Price decision

Price policy must fit the retailers' 1.Target market and positioning 2.Product and service assortment 3.Competition 4. Economic factors Retailers practice either *Everyday low pricing (EDLP) *High-low pricing

shopping marketing

focusing the entire marketing process on turning shoppers into buyers as they approach the point of sale, whether during in-store, online, or mobile shopping

retailer cooperative

group of independent retailers who jointly establish a central buying organization and conduct joint promotion efforts