Chapter 13_NEW! Mini Sim_The Shopping Experience MARK3300 (Not finished)

Market research suggests that customers have been steadily increasing their online spending in the pet food and accessories category. What strategy should you implement to keep customers coming back to your retail store? Select an option from the choices below and click Submit. - Add custom-made clothing and pet fashion consulting services - Offer extended store hours - Decrease prices

- Add custom-made clothing and pet fashion consulting services

Distribution

- Choosing a location that is accessible to the target market is the distribution element. Or - The coffee shop takes over a lease on a prime location in a lifestyle center that has convenient access from schools and business.

Product and Service Assortment

- Experiential retailing is one way to create a store's atmosphere, which is a product and assortment decision. Or - To implement experiential retailing, the coffee shop adds a "Be the Bean" activity where customers participate in bean roasting.

Now that you have your retail format identified, you need to think about the level of customer service you will provide. Keep the industry trends and retail format in mind as you make your choice. - Limited service - Full service - Self-service

- Full service

Segmentation and targeting must be addressed before the retail marketing mix decisions that will ultimately create customer value can be made. You and your partner have identified four potential segmentation bases, but you want to narrow them down to the best three. Choose the three best factors to use to segment the market for pet retail. - Generational cohort - Racial group - Household income - Number of pets in household

- Generational cohort - Household income - Number of pets in household

Retail Prices

- Markup and its subsequent impact on sales volume is a pricing policy decision. Or - The coffee shop balances sales volume and markup, sacrificing high volume for markup.

Creating product assortments is another critical marketing mix decision that must be addressed by retailers. Which product assortment creates the most value for your target market based on the premiumization of pets trend? Select an option from the choices below and click Submit. - Offer a large selection of national brand premium-quality pet foods. - Offer a large selection of average-quality national brand pet foods. - Offer a medium selection of national brand premium-quality pet foods as well as chef-created custom pet foods.

- Offer a medium selection of national brand premium-quality pet foods as well as chef-created custom pet foods.

As you implement the retail marketing mix, you need to consider the 4 Ps. Beginning with the product and service decision for your target market, which of these service offerings creates value based on the humanization of pets trend? Select an option from the choices below and click Submit. - Offering custom fresh pet food preparation in-store - Offering pet massage and therapy services in-store - Offering a store credit card

- Offering pet massage and therapy services in-store

You hire an experienced pet industry executive to consult with you both throughout the process. In your first meeting, she presents you with an initial market analysis and trend report. The first decision you need to make is what type of retail format you think will be best for your new venture. - Superstore - Specialty store - Category killer

- Specialty store

Promotion

- The radio ad is a form of advertising, which is a promotional element. Or - The coffee shop develops a radio ad that runs on local radio stations during the morning commute.

Which two attributes would these consumers most likely seek in a pet retail experience? Select two options from the choices below and click Submit. - Low Prices - Wide Assortment of gourmet pet food and treats - Unique pet pampering services

- Wide Assortment of gourmet pet food and treats - Unique pet pampering services

Which would be the best target market? Select an option from the choices below and click Submit. - Baby Boomers - Generation Z - Millennials

Baby Boomers