Marketing Chapter 11 Quiz
Superstores that are actually giant specialty stores and have seen tremendous growth recently are called _______. A. category killers B. supermarkets C. discount stores D. service retailers E. off-price retailers
A
Which of the following statements about retailer marketing decisions is correct? A. Many retailers identify three critical factors for retail success: location, location, and location. B. Retailers do not have to segment and target their markets. C. Most retailers seek either high markups on higher volume or low markups on lower volume. D. Retailers do not differentiate themselves on their service mix. E. Stores do not need to differentiate and position themselves.
A
Which of the following statements about shopping centers is correct? A. The most common type of shopping center is a strip mall. B. Shopping centers are only found in rural areas. C. Banks cannot be part of a shopping center. D. Retailers in a shopping center are independently owned and managed. E. Shopping centers cannot have more than 10 stores because of zoning laws.
A
By practicing ______ retailing, today's retailers are increasingly adopting environmentally sustainable practices. A. off-price B. service C. experiential D. independent off-price E. green
E
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. specialty stores C. wholesalers D. franchises E. non-retailers
A
Which wholesaler channel function helps reduce inventory holding costs and the risks of suppliers and customers? A. Warehousing B. Buying and assortment building C. Risk bearing D. Transportation E. Financing
A
_______ involves focusing the entire marketing process toward turning shoppers into buyers as they approach the point of sale. A. Internal marketing B. Warehousing C. Shopper marketing D. Showrooming E. Retailing
C
Carefully orchestrating the store's layout and displays, background music, colors, and smells is related to ________. A. green retailing B. social media retailing C. megaretailing D. online retailing E. experiential retailing
E
One retail trend resulting from economic conditions is ________. A. the rise of megaretailers B. pop-up stores C. the growth of social media retailing D. green retailing E. tighter consumer spending
E
The practice of coming into retail stores to check out merchandise and prices but making purchases online using a computer or mobile device is called _______. A. mobile retailing B. experiential retailing C. shopper retailing D. off-price retailing E. showrooming
E
Which of the following statements about major retail trends is true? A. The lifecycle of new retail forms is getting longer. B. The global expansion of major retailers into other countries has slowed down. C. Retail convergence has decreased competition for retailers. D. The green movement has not yet affected retailing. E. Online buying is growing at a much brisker pace than retail buying as a whole.
E
Which type of retailer carries a narrow product line with deep assortments within those lines? A. Supermarkets B. Department stores C. Superstores D. Convenience stores E. Specialty stores
E
________ refers to the activities involved in selling products or services directly to final consumers for their personal, nonbusiness use. A. Wholesaling B. Manufacturing C. Warehousing D. Shopper marketing E. Retailing
E
Macy's carries several product lines long dash—typically clothing, home furnishings, and household goods long dash—with each line operating as a separate department managed by specialist buyers or merchandisers. Macy's is best described as a(n) ________. A. superstore B. department store C. off-price retailer D. specialty store E. discount store
B
___________ are the largest single group of wholesalers, accounting for roughly 50 percent of all wholesaling. A. Manufacturers' representatives B. Merchant wholesalers C. Manufacturers' agents D. Brokers E. Agents
B
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. lower margins and lower sales volume B. operating at a loss and higher sales volume C. lower margins and higher sales volume D. higher sales volume and inefficient operations. E. higher margins and lower sales volume
C
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 the same products as their competitors. C. Differentiate the retailer while matching target shoppers' expectations. D. Only choose products that will maximize profits. E. Offer products that will appeal to as many segments as possible.
C
The retail marketing mix consists of which of the following? A. Product and service assortment, retail prices, promotion, and retail segmentation B. Product and service assortment, retail prices, promotion and store differentiation. C. Product and service assortment, retail prices, promotion, and retail targeting D. Product and service assortment, retail prices, promotion, and location E. Product and service assortment, retail prices, promotion, and store positioning
D
What are the four major types of retail organization? A. Discount stores, service retailers, superstores, and supermarkets. B. Corporate chains, voluntary chains, wholesalers, and franchise organizations. C. Corporate chains, voluntary chains, retailer cooperatives, and wholesalers D. Corporate chains, voluntary chains, retailer cooperatives, and franchise organizations. E. Corporate chains, wholesalers, superstores, and franchise organizations.
D
After segmenting and defining their target markets, what should retailers do next? A. Decide on the product assortment. B. Decide on the level of service. C. Decide on the store atmosphere D. Decide how they will differentiate and position themselves in the market. E. Decide on the location.
D
By performing the channel function of ________, wholesalers' sales forces help manufacturers reach many small customers at a low cost. A. financing B. risk bearing C. bulk-breaking D. selling and promoting E. buying and assortment building
D
Retailers must decide on which three major product variables? A. Product assortment, price, and location B. Product assortment, services mix, and price C. Product assortment, services mix, and location D. Product assortment, services mix, and store atmosphere E. Product assortment, store atmosphere, and price
D
Increasingly, different types of retailers now sell the same products at the same prices to the same consumers. This trend is called ___________. A. retail convergence B. megaretailing C. social media retailing D. green retailing E. retail blending
A
Which of the following statements about wholesaling is true? A. Wholesalers do not need to differentiate themselves. B. Wholesalers must make decisions regarding their marketing mix. C. Wholesalers do not need to segment their markets. D. Wholesalers do not make positioning decisions. E. Wholesalers do not need to define a target market.
B
Which of the following correctly describes the retail practice known as high-low pricing? A. High-low pricing means retailers charge an everyday low price. B. High-low pricing means the retailer does not have to run sales on selected items. C. High-low pricing means some products are priced high and others are priced low. D. High-low pricing means charging higher prices on an everyday basis, coupled with frequent sales and other price promotions. E. High-low pricing means retailers do not have to use promotions.
D