Chapter 13 Quiz

Which of the following statements regarding green retailing is​ correct?

Green retailing initiatives extend to helping consumers be more environmentally responsible.

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 selling higher volume

Which of the following statements regarding retailer pricing decisions is​ correct?

Most retailers seek either high markups on lower volume or low markups on higher volume.

Retailers must decide on which three major product​ variables?

Product​ assortment, services​ mix, and store atmosphere

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

Specialty stores

Which of the following statements regarding wholesaling is​ correct?

Wholesalers must make decisions regarding their marketing mix.

Retailing today requires​ __________, which means creating a seamless​ cross-channel buying experience that integrates​ in-store, online, and mobile shopping.

omni-channel retailing

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

retail convergence

Retailers need to differentiate and position their store and make decisions regarding their retail marketing mix. Before making those​ decisions, retailers must first​ __________.

segment and define their target market

What are the four broad characteristics used to classify retail​ stores?

​Service, product​ lines, price, and organization