BCOR 350 Chapter 13

Advertising

, personal selling, sales promotion, public relations, and direct marketing are all considered promotion decisions.

off-price retailer

A store that buys at less-than-regular wholesale prices and sells at less than retail is a(n) __________.

Price decisions

Deciding on either high markups on lower volume or low markups on higher volume are price decisions. A retailer's price policy must fit its target market and positioning, product and service assortment, the competition, and economic factors.

store atmosphere

Deciding on store atmosphere is a major part of a product variable, and is an example of product assortment and services decision. The retailer's product assortment should differentiate it while matching target shoppers' expectations.

__________ provide an entire line of services: carrying stock, maintaining a sales force, offering credit, making deliveries, and providing management assistance.

Full-Service wholesalers

__________ retailing refers to the creation of a seamless​ cross-channel buying experience.

Omni-channel

________ are huge unenclosed shopping centers consisting of a long strip of retail stores including freestanding anchor stores.

Power center

showrooming

The shopping practice of coming into retail stores to check out merchandise and prices but instead buying from an online-only rival

__________ is an example of a discount store

Walmart

Voluntary chain

Which of the following is a wholesaler-sponsored group of independent retailers engaged in group buying and merchandising?

L.L. Bean has turned its flagship store into a​ full-fledged outdoor adventure​ center, which is an example of​ __________.

experiential retailing

Tiffany and Neiman Marcus are classified as​ __________ retailers.

full service

Limited-service wholesalers .

offer fewer services than full-service wholesalers

Limited-service wholesalers __________.

offer fewer services than other wholesalers

Choosing locations that are accessible to the target market in areas that are consistent with the retailer's positioning are most relevant to the __________.

place decision

Wholesalers add customer value through the​ __________ they offer.

products and services

Full-service wholesalers

provide a full line of services: carrying stock, maintaining a sales force, offering credit, making deliveries, and providing management assistance.

Wholesale merchants

sell primarily to retailers and provide a full range of services.

Industrial distributors __________.

sell to manufacturers rather than to retailers

A(n) __________ is a store that offers a large assortment of routinely purchased food products, nonfood items, and services.

superstore

Which one of the following statements does NOT portray the success of global expansion of major​ retailers? Adapting the operations that work well in the home country create success abroad. Your answer is correct .B. Many retailers are expanding internationally to escape saturated home markets. C. International retailing presents challenges as well as opportunities. D. Retailers can face dramatically different retail environments when crossing​ countries, continents, and cultures. E. Retailers with unique formats and strong brand positions are increasingly moving into other countries.

Adapting the operations that work well in the home country create success abroad

Which of the following describes promotion decisions?

Advertising, personal selling, sales promotion, public relations, and direct marketing

sell to manufacturers rather than to retailers. They provide several services, such as carrying stock, offering credit, and providing delivery.

Industrial distributors

Which of the following is an example of a discount store?

Kohl's

_________ have shifted the balance of power between retailers and producers.

Megaretailers

​__________ are the largest single group of wholesalers.

Merchant wholesalers

A franchise

is a contractual association between a manufacturer, wholesaler, or service organization and independent businesspeople who buy the right to own and operate one or more units in the franchise system

retailer cooperative

is a group of independent retailers who jointly establish a central buying organization and conduct joint promotion efforts.

A supermarket

is a large, low-cost, low-margin, high-volume, self-service store that carries a wide variety of grocery and household products.

department store

is a retail store that carries a wide variety of product lines, each operated as a separate department managed by specialist buyers or merchandisers

convenience store

is a small store, located near a residential area, that is open long hours seven days a week and carries a limited line of high-turnover convenience goods.

Retailing

is all the activities involved in selling goods or services directly to final consumers for their personal, nonbusiness use.

corporate chain

two or more outlets that are commonly owned and controlled