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
