Chapter 11 Quiz
Which of the following types of wholesalers are Independently owned businesses that take title to all merchandise handled? A. Merchant wholesalers B. Manufacturers' agents C. Industrial distributors D. Brokers E. Rack jobbers
Merchant wholesalers
Which of the following statements about wholesaling is true? A. Wholesalers do not make positioning decisions. B. Wholesalers must make decisions regarding their marketing mix. C. Wholesalers do not need to segment their markets. D. Wholesalers do not need to differentiate themselves. E. Wholesalers do not need to define a target market.
Wholesalers must make decisions regarding their marketing mix.
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 sales volume and inefficient operations B. Lower margins and higher sales volume C. Higher margins and lower sales volume D. Lower margins and lower sales volume E. Operating at a loss and higher sales volume
Lower margins and higher sales volume
Which of the following represents the four major classifications of retail organizations? A. Discount stores, service retailers, superstores, and supermarkets B. Corporate chains, wholesalers, superstores, and franchise organizations C. Corporate chains, voluntary chains, wholesalers, and franchise organizations D. Corporate chains, voluntary chains, retailer cooperatives, and wholesalers E. Corporate chains, voluntary chains, retailer cooperatives, and franchise organizations
Corporate chains, voluntary chains, retailer cooperatives, and franchise organizations
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. service retailers B. non-retailers C. wholesalers D. franchises E. specialty stores
service retailers
Which of the following makes up the retail marketing mix? A. Product and services assortment, price, promotion, and location B. Product and services assortment, price, promotion, and retail segmentation C. Product and services assortment, price, promotion, and retail targeting D. Product and services assortment, prices, promotion, and store positioning E. Product and services assortment, price, promotion and store differentiation
A. Product and services assortment, price, promotion, and location
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 store atmosphere D. Product assortment, services mix, and price E. Product assortment, services mix, and location
C. Product assortment, services mix, and store atmosphere
Which of the following correctly describes omni-channel retailing? A. Selling products online environments B. Setting up franchises in different locations with seamless delivery of integrated services C. Creating a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping D. Developing close partnerships between wholesalers and retailers E. Allowing one supplier to sell to multiple retailers through multiple channels
Creating a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping
What is the overall goal when retailers choose their product assortment? A. Offer as many products as they can fit on the shelves B. Offer products that will appeal to as many segments as possible C. Differentiate the retailer while matching target shoppers' expectations D. Offer the same products as their competitors E. Only choose products that will maximize profits
Differentiate the retailer while matching target shoppers' expectations
_____________________ is a retailing technique of carefully orchestrating the store's layout and displays, background music, colors, and smells. A. Wholesaling B. Experiential retailing C. Environmental retailing D. Interior design E. Omni-channel retailing
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? A. It forced consumers to become omni-channel shoppers. B. It created a trend away from consumer spending on well-known brands. C. It turned free-spending consumers into value-seeking ones. D. It restricted retail expansion domestically and internationally. E. It turned brick-and-mortar retailers into Internet-only retailers.
It turned free-spending consumers into value-seeking ones.
Which of the following retail trends is making differentiation more difficult? A. Retail convergence B. The demise of brick-and-mortar retail C. Value-seeking consumers D. Retail global expansion E. Omni-channel retailing
Retail convergence
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? A. Shopper marketing B. Manufacturing C. Warehousing D.Wholesaling E. Retailing
Retailing
Successful retailers of the future must adopt which type of buying experience that is both seamless and integrates multiple types of media? A. Social shopping retailing B. Direct-to-consumer retailing C. Discount retailing D. Omni-channel retailing E. Off-price retailing
Social shopping retailing
Which of the following does NOT represent one of the major trends and developments in retailing? A. The rise of megaretailers B. A surge in green retailing C. Retail convergence D. Growing importance of retail technology E. Social e-tailing
Social e-tailing
Which of the following is TRUE regarding omni-channel buyers? A. They always shop in-store channels, then order online. B. They prefer the online environment. C. They shift easily across online and in-store channels. D. They do not shift easily across online and in-store channels. E. They purchase online but tend to purchase more in-store.
They shift easily across online and in-store channels.
Progressive wholesalers recognize that their only reason for existing is to ____________________. A. provide selling support B. automate distribution C. bear the risk of sales and distribution D. finance retailing transactions E. add value
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 _______________. A. supermarkets B. off-price retailers C. category killers D. service retailers E. discount stores
category killers
After segmenting and defining their target markets, retailers must then ____________________. A. decide on the level of service they will provide B. decide how they will differentiate and position themselves C. decide on pricing by product line and assortment D. decide on the store atmosphere and shopping experience E. decide on the product assortment and volume they will stock
decide how they will differentiate and position themselves
The massive shift in how and where people buy calls for __________________________. A. massive spending increases in advertising and sales promotion B. massive shifts to online-only environments for brick-and-mortar retailers C. massive shifts in pricing strategies D. massive shifts in how store retailers operate E. massive spending in social media for brick-and-mortar retailers
massive shifts in how store retailers operate
By performing the channel function of ________, wholesalers' sales forces help manufacturers reach many small customers at a low cost. A. financing B. bulk-breaking C. selling and promoting D. risk bearing E. buying and assortment building
selling and promoting
Focusing the entire marketing process toward turning shoppers into buyers as they approach the point of sale is known as ______________________. A. shopper marketing B. warehousing C. retailing D. showrooming E. internal marketing
shopper marketing
Which of the following statements about retailer marketing decisions is correct? A. Most retailers seek either high markups on higher volume or low markups on lower volume. B. Stores do not need to differentiate and position themselves. C. Retailers do not have to segment and target their markets. D. Retailers do not differentiate themselves on their service mix. E. Retailers identify three critical factors for retail success: location, location, and location.
Retailers identify three critical factors for retail success: location, location, and location.
What does the phrase "omni-channel buying calls for omni-channel retailing" imply for retailers? A. Retailers should integrate all available supply-chain channels into their distribution systems. B. Retailers should integrate all available shopping channels and devices into a seamless customer shopping experience. C. Retailers should plan and budget for expansion of brick-and-mortar shopping experiences. D. Retailers should attempt to attract omni-channel buyers to brick-and-mortar settings through experiential retailing. E. Retailers should make certain they focus on social and digital media as their main advertising vehicles.
Retailers should integrate all available shopping channels and devices into a seamless customer shopping experience.
Macy's, Kohl's, and JCPenney practice a retailing pricing strategy called "high-low pricing." Which of the following correctly describes high-low pricing? A. Retailers charge an everyday low price with no special promotions. B. Some products are priced high, others are priced low, and still others are priced at bargain-basement levels. C. Retailers do not have to use promotions. D. The retailer charges higher prices on an everyday basis, coupled with frequent sales and other price promotions. E. The retailer does not have to run sales on selected items.
The retailer charges higher prices on an everyday basis, coupled with frequent sales and other price promotions.
