CH 11 QUIZ

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 products that will appeal to as many segments as possible C. Differentiate the retailer while matching target​ shoppers' expectations D. Only choose products that will maximize profits E. Offer the same products as their competitors

Differentiate the retailer while matching target​ shoppers' expectations

________ is a retailing technique of carefully orchestrating the​ store's layout and​ displays, background​ music, colors, and smells. A. Wholesaling B. Environmental retailing C. Experiential retailing D. ​Omni-channel retailing E. Interior design

Experiential retailing

The Great Recession of​ 2008-2009 had a profound effect on the economy and consumers. Of the​ following, which represents one of the major consumer trends resulting from the Great​ Recession? A. It turned​ brick-and-mortar retailers into​ Internet-only retailers. B. It forced consumers to become​ omni-channel shoppers. C. It created a trend away from consumer spending on​ well-known brands. D. It restricted retail expansion domestically and internationally. E. It turned​ free-spending consumers into​ value-seeking ones.

It turned​ free-spending consumers into​ value-seeking ones.

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 higher sales volume This is the correct answer. B. Higher sales volume and inefficient operations C. Lower margins and lower sales volume D. Operating at a loss and higher sales volume E. Higher margins and lower sales volume

Lower margins and higher sales volume

Which of the following makes up the retail marketing​ mix? A. Product and services​ assortment, price,​ promotion, and retail targeting B. Product and services​ assortment, price, promotion and store differentiation C. Product and services​ assortment, price,​ promotion, and retail segmentation D. Product and services​ assortment, price,​ promotion, and location . E. Product and services​ assortment, prices,​ promotion, and store positioning

Product and services​ assortment, price,​ promotion, and location

Retailers must decide on which three major product​ variables? A. Product​ assortment, price, and location B. Product​ assortment, store​ atmosphere, and price C. Product​ assortment, services​ mix, and store atmosphere D. Product​ assortment, services​ mix, and price E. Product​ assortment, services​ mix, and location

Product​ assortment, services​ mix, and store atmosphere

Which of the following retail trends is making differentiation more​ difficult? A. Retail global expansion B. The demise of​ brick-and-mortar retail C. Retail convergence D. ​Value-seeking consumers E. ​Omni-channel retailing

Retail convergence

Which of the following statements about retailer marketing decisions is​ correct? A. Retailers do not have to segment and target their markets. B. Retailers do not differentiate themselves on their service mix. C. Stores do not need to differentiate and position themselves. D. Most retailers seek either high markups on higher volume or low markups on lower volume. E. Retailers identify three critical factors for retail​ success: location,​ location, and location.

Retailers identify three critical factors for retail​ success: location,​ location, and location.

What does the phrase​ "omni-channel buying calls for​ omni-channel retailing" imply for​ retailers? A. Retailers should integrate all available​ supply-chain channels into their distribution systems. B. Retailers should plan and budget for expansion of​ brick-and-mortar shopping experiences. C. Retailers should make certain they focus on social and digital media as their main advertising vehicles. D. Retailers should integrate all available shopping channels and devices into a seamless customer shopping experience. E. Retailers should attempt to attract​ omni-channel buyers to​ brick-and-mortar settings through experiential retailing.

Retailers should integrate all available shopping channels and devices into a seamless customer shopping experience

Which of the following does NOT represent one of the major trends and developments in​ retailing? A. Retail convergence B. A surge in green retailing C. The rise of megaretailers D. Growing importance of retail technology E. Social​ e-tailing

Social​ e-tailing

Which of the following statements about wholesaling is​ true? A. Wholesalers do not make positioning decisions. B. Wholesalers do not need to define a target market. C. Wholesalers must make decisions regarding their marketing mix. . D. Wholesalers do not need to differentiate themselves. E. Wholesalers do not need to segment their markets.

Wholesalers must make decisions regarding their marketing mix.

After segmenting and defining their target​ markets, retailers must then​ ____________________. A. decide on pricing by product line and assortment B. decide how they will differentiate and position themselves . C. decide on the store atmosphere and shopping experience D. decide on the product assortment and volume they will stock E. decide on the level of service they will provide

decide how they will differentiate and position themselves

Focusing the entire marketing process toward turning shoppers into buyers as they approach the point of sale is known as​ ______________________. A. showrooming B. internal marketing C. warehousing D. shopper marketing . E. retailing

shopper marketing

Which of the following types of wholesalers are Independently owned businesses that take title to all merchandise​ handled? A. Merchant wholesalers B. ​Manufacturers' agents C. Rack jobbers D. Brokers E. Industrial distributors

Merchant wholesalers

Successful retailers of the future must adopt which type of buying experience that is both seamless and integrates multiple types of​ media? A. Social shopping retailing B. ​Direct-to-consumer retailing C. ​Omni-channel retailing D. Discount retailing E. ​Off-price retailing

Social shopping retailing

Which of the following is TRUE regarding​ omni-channel buyers? A. They prefer the online environment. B. They purchase online but tend to purchase more​ in-store. C. They shift easily across online and​ in-store channels. D. They do not shift easily across online and​ in-store channels. E. They always shop​ in-store channels, then order online.

They shift easily across online and​ in-store channels.

Which of the following represents the four major classifications of retail​ organizations? A. Discount​ stores, service​ retailers, superstores, and supermarkets B. Corporate​ chains, voluntary​ chains, retailer​ cooperatives, and wholesalers C. Corporate​ chains, wholesalers,​ superstores, and franchise organizations D. Corporate​ chains, voluntary​ chains, retailer​ cooperatives, and franchise organizations E. Corporate​ chains, voluntary​ chains, wholesalers, and franchise organizations

Corporate​ chains, voluntary​ chains, retailer​ cooperatives, and franchise organizations

Macy's, Kohl's, and JCPenney practice a retailing pricing strategy called​ "high-low pricing." Which of the following correctly describes​ high-low pricing? A. The retailer does not have to run sales on selected items. B. Retailers do not have to use promotions. C. Retailers charge an everyday low price with no special promotions. D. The retailer charges higher prices on an everyday​ basis, coupled with frequent sales and other price promotions. E. Some products are priced​ high, others are priced​ low, and still others are priced at​ bargain-basement levels.

The retailer charges higher prices on an everyday​ basis, coupled with frequent sales and other price promotions.

By performing the channel function of​ ________, wholesalers' sales forces help manufacturers reach many small customers at a low cost. A. selling and promoting B. financing C. ​bulk-breaking D. buying and assortment building E. risk bearing

selling and promoting

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. ​non-retailers B. service retailers C. franchises D. specialty stores E. wholesalers

service retailers

Best​ Buy, Home​ Depot, Petco, and Bed Bath​ & Beyond, which are actually giant specialty stores characterized by immense size and deep assortments of​ merchandise, are sometimes called​ _______________. A. category killers B. service retailers C. discount stores D. supermarkets E. ​off-price retailers

category killers

Which of the following describes the activities that play an important role in connecting brands to consumers in the final phases of the buying​ process? A. Shopper marketing B. Warehousing C. Retailing D. Manufacturing E. Wholesaling

Retailing

Progressive wholesalers recognize that their only reason for existing is to​ ____________________. A. finance retailing transactions B. automate distribution C. add value . D. bear the risk of sales and distribution E. provide selling support

add value

The massive shift in how and where people buy calls for​ __________________________. A. massive spending increases in advertising and sales promotion B. massive shifts in how store retailers operate C. massive spending in social media for​ brick-and-mortar retailers D. massive shifts in pricing strategies E. massive shifts to​ online-only environments for​ brick-and-mortar retailers

massive shifts in how store retailers operate