CH 13- FINAL
competition in U.S.
number of competitors have greatly decreased, but the intensity of competition has greatly increased
4 retailing institutions
-traditional department stores -chain store (early 20th c origins) -food supermarkets -planned shopping center
Which of the following is a recent trend in wholesaling? A. Less distinction between large retailers and large wholesalers B. Less attention to building valuable customer relationships C. Decreasing the services provided to retailers D. Increased costs due to the use of computerized, automated, and Internet-based systems E. Less emphasis on efficiency
A. Less distinction between large retailers and large wholesalers
Retailers must decide on which three major product variables? A. Product assortment, services mix, and store atmosphere B. Product assortment, services mix, and location C. Product assortment, price, and location D. Product assortment, store atmosphere, and price E. Product assortment, services mix, and price
A. Product assortment, services mix, and store atmosphere
_________ are the largest single group of wholesalers. A. Brokers B. Merchant wholesalers C. Manufacturers' branches D. Agents E. Retailers' branches
B. Merchant wholesalers
L.L. Bean has turned its flagship store into a full-fledged outdoor adventure center, which is an example of __________. A. price decision B. experiential retailing C. services mix D. segmentation decision E. targeting decision
B. experiential retailing
What are the three main types of off-price retailers? A. Franchises, factory outlets, and warehouse clubs B. Independents, factory outlets, and warehouse clubs C. Discount stores, convenience stores, and supermarkets D. Discount stores, factory outlets, and convenience stores E. Discount stores, factory outlets, and warehouse clubs
B. Independents, factory outlets, and warehouse clubs
Which of the following statements regarding green retailing is correct? A. Green retailing takes place at the store and does not extend to other channel members. B. The only current green retailing initiative is to offer environmentally friendly products. C. Green retailing initiatives extend to helping consumers be more environmentally responsible. D. Retailers today are hesitant to adopt environmentally sustainable practices. E. Green retailing initiatives hurt the bottom line by increasing costs.
C. Green retailing initiatives extend to helping consumers be more environmentally responsible.
Which of the following are the largest group of wholesalers, accounting for roughly 50 percent of all wholesaling? A. Manufacturers' agents B. Agents C. Merchant wholesalers D. Brokers E. Manufacturers' representatives
C. Merchant wholesalers
In terms of location, most stores today cluster together. What is the primary reason for this? A. To achieve common ownership B. To ensure they all maintain the same profit margin C. To increase their customer pulling power D. To avoid paying taxes E. To ensure customers will not "one-stop" shop
C. To increase their customer pulling power
__________ retailing refers to the creation of a seamless cross-channel buying experience. A. Full-service B. Self-service C. Omni-channel D. Limited-service E. Service
C. Omni-channel
Tiffany and Neiman Marcus are classified as __________ retailers. A. limited-service B. service C. full-service D. self-service E. omni-channel
C. full-service
Which type of retailer carries narrow product lines with deep assortments within those lines? A. Superstores B. Department stores C. Discount stores D. Specialty stores E. Convenience stores
D. Specialty stores
__________ are huge unenclosed shopping centers consisting of a long strip of retail stores including freestanding anchor stores. A. Neighborhood shopping centers B. Lifestyle centers C. Community shopping centers D. Regional shopping centers E. Power centers
E. Power centers
Wholesalers add customer value through the __________ they offer. A. promotion B. price C. location D. distribution E. products and services
E. products and services
What are the four broad characteristics used to classify retail stores? A. Location, product lines, price, and organization B. Service, location, price, and organization C. Service, product lines, price, and location D. Service, product lines, target market, and price E. Service, product lines, price, and organization
E. Service, product lines, price, and organization
Retailing today requires __________, which means creating a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping. A. flash sales B. wholesaling C. showrooming D. full-service retailing E. omni-channel retailing
E. omni-channel retailing
