Marketing Chapter 13

A cluster of between 15 and 50 retail stores that usually contains a branch of a department store or variety​ store, a​ supermarket, specialty​ stores, professional​ offices, and​ (sometimes) a bank is a​ __________. A. community shopping center B. regional shopping mall C. neighborhood shopping center D. power center E. lifestyle center

A

Omni-channel retailers are those who​ ________. A. successfully merge the virtual and physical worlds B. expand their businesses internationally C. sell products through​ third-party retailers D. conduct all business activities online E. use mobile apps to sell their products

A

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. Selling higher volume and having inefficient operations B. Lower margins and selling higher volume C. Higher margins and selling lower volume D. Operating at a loss and selling higher volume E. Lower margins and selling lower volume

B

Which type of retailer carries narrow product lines with deep assortments within those​ lines? A. Discount stores B. Specialty stores C. Department stores D. Superstores E. Convenience stores

B

How do brokers and agents differ from merchant​ wholesalers? A. Brokers and agents take title and perform a limited number of specialized functions. B. Brokers and agents take title and generally specialize by product line or customer type. C. Brokers and agents do not take title and perform a limited number of specialized functions. D. Brokers and agents take title and perform a wide variety of specialized functions. E. Brokers and agents do not take title and generally do not specialize by product line or customer type.

C

Retailers need to differentiate and position their store and make decisions regarding their retail marketing mix. Before making those​ decisions, retailers must first​ __________. A. segment and define their target market B. hire knowledgeable staff C. develop a website D. choose a location E. decide on the store atmosphere

A

​Walmart, Target,​ Macy's, and other major retailers offer handy​ ________ that pull customers to both their websites and stores. A. mobile apps B. product information C. ​in-store shopping D. platforms E. channels

A

Foot Locker has mastered online and mobile efforts that link seamlessly with store​ operations, offering options such as​ "buy online, ship from​ store" and​ "buy online, reserve in​ store" for pickup. This is an example of​ ________. A. ​in-store ordering with a mobile device B. ​omni-channel retailing C. social media D. ​web-based retailing E. digital retailing

B

Increasingly, different types of retailers now sell the same products at the same prices to the same consumers. This trend is called​ __________. A. megaretailing B. retail convergence C. showrooming D. mobile retailing E. green retailing

B

Which wholesaler channel function helps reduce inventory holding​ costs? A. Buying and assortment building B. Warehousing C. Transportation D. Financing E. Risk bearing

B

​Adidas' Fifth Avenue emporium showcases an adidas design concept that mimics a sports arena. Customers enter through a​ tunnel-like entrance, climb cement stairs to reach different​ floors, sit on bleachers to watch games broadcast live on large​ screens, and pay for their purchases at stations designed to look like ticket booths. The store features a miniature running track where customers can take a test run or get their stride analyzed to ensure​ they're buying the right shoe. This is an example of​ __________. A. ​one-stop shopping B. experiential retailing C. a community shopping center D. ​full-service retailing E. ​omni-channel retailing

B

Recently, superstores that are actually giant specialty​ stores, such as Petco and Home​ Depot, have seen tremendous growth. These types of superstores are called​ __________. A. discount stores B. ​off-price retailers C. department stores D. category killers E. warehouse clubs

D

Which of the following are the largest group of​ wholesalers, accounting for roughly 50 percent of all​ wholesaling? A. ​Manufacturers' representatives B. Brokers C. Agents D. Merchant wholesalers E. ​Manufacturers' agents

D

One new technology being adopted by retailers is​ __________. For​ example, when​ opted-in customers enter a​ store, a signal wakes up an app on their smartphone or​ tablet, which welcomes them and alerts them to​ location-specific rewards and personalized product recommendations within the store. A. virtual reality B. scanners C. beacon technology D. showrooming E. RFID

C

Retailing today requires​ __________, which means creating a seamless​ cross-channel buying experience that integrates​ in-store, online, and mobile shopping. A. wholesaling B. flash sales C. ​omni-channel retailing D. showrooming E. ​full-service retailing

C

Which of the following statements about major retail trends is​ true? A. Retail convergence has decreased competition for retailers. B. The global expansion of major retailers into other countries has slowed down. C. Online buying is growing at a much brisker pace than retail buying as a whole. D. The lifecycle of new retail forms is increasing. E. The green movement has not yet affected retailing.

C

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. Many retailers identify three critical factors for retail​ success: location,​ location, and location. D. Retailers do not have to segment and target their markets. E. Retailers do not differentiate themselves on their service mix.

C

Which of the following statements regarding retailer pricing decisions is​ correct? A. Everyday low pricing is a strategy that has proven to be ineffective. B. Competition and economic factors do not influence retail pricing decisions. C. Most retailers seek either high markups on lower volume or low markups on higher volume. D. All retailers use some type of price promotions. E. ​High-low pricing is a strategy used by wholesalers when they sell to retailers.

C

In terms of​ location, most stores today cluster together. What is the primary reason for​ this? A. To avoid paying taxes B. To ensure customers will not​ "one-stop" shop C. To achieve common ownership D. To ensure they all maintain the same profit margin E. To increase their customer pulling power

E

__________ involves focusing the entire marketing process toward turning customers into buyers as they approach the point of sale. A. Retailing B. Retail convergence C. ​Full-service retailing D. Wholesaling E. Shopper marketing

E