Marketing MML and Terms Chapter 13

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​Today, ________ are flourishing due to the increased use of market segmentation and market targeting

specialty stores

Full-service retailers can be described in several ways. Which of the following accurately describes a​ full-service retailer?

the have higher operating costs

How do brokers and agents differ from merchant​ wholesalers?

they do not take title to the goods

Retailers such as​ Walmart, Costco,​ ALDI, and Family Dollar are known for maintaining low prices and rarely offering sales or other​ discounts, a practice known as​ ________.

everyday low pricing

Bass Pro Shop is in the process of converting a landmark​ 32-story, stainless steel basketball arena in​ Memphis, formerly known as the​ Pyramid, into a huge Bass Pro Shops Outdoor World retail store. The facility will include a​ restaurant, aquarium,​ waterfall, as well as a hotel and museum. Shoppers will even be able to test drive watercraft from an adjoining marina on the banks of the Mississippi River. This is an example of a growing retail marketing trend known as​ ________.

experiential retailing

McDonald's, Subway, and Jiffy Lube are all examples of​ ________.

franchises

Which type of retailer usually carries more specialty goods at high prices and is more likely to provide customers with assistance in every phase of the shopping​ process?

full service retailer

High-end department​ stores, such as Nordstrom and Neiman​ Marcus, which offer buyers more specialty products and actively seek to assist customers in every phase of the shopping​ process, are often referred to as​ ________.

full service retailers

Which of the following is most likely gained by stores that cluster​ together?

increased customer pulling power

The Brazilian sandal maker Havaianas is known for opening temporary​ stores, or​ ________, at​ beaches, festivals, and other summer hot spots around the world.

pop-up shops

A recent retail trend is to create​ limited-time retail facilities that let firms promote their brands to seasonal shoppers and create buzz in busy areas. What are these​ short-term establishments​ called?

pop-up stores

Target recently opened temporary shops to celebrate​ limited-run collections by Jason Wu in Toronto and Missoni in New York. These temporary shops are examples of​ ________.

pop-up stores

A large retailer of home improvement and construction products offers​ "how-to" classes for​ do-it-yourselfers, featuring instructions on how to complete home improvement projects using products sold at its stores. This is an example of how the retailer has differentiated itself through its​ ________.

services mix

With increased availability of smartphones and mobile​ computing, many shoppers now check out merchandise at physical stores but then buy products online using a computer or mobile​ device, sometimes even while they are in the store. This practice is widely known as​ ________.

show rooming

A retailer that carries narrow product lines with deep assortments within those lines is classified as what type of​ retailer? In response to increasing the use of market​ segmentation, market​ targeting, and product​ specialization, there is a greater need for stores in this classification that focus on specific products and segments.

specialty store


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