Chapter 11
recent years have seen rapid growth of superstores that are actually giant specialty stores, they are sometimes called
category killers
Macy's, Kohl's, and JCPenney practice a retailing pricing strategy called "high-low pricing." Which of the following correctly describes high-low pricing?
The retailer charges higher prices on an everyday basis, coupled with frequent sales and other price promotions
what are the three critical factors for retail success
location, location, location
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?
lower margins and higher sales volumes
wholesalers must make decisions about
marketing mix
The massive shift in how and where people buy calls for __________________________.
massive shifts in how store retailers operate
Focusing the entire marketing process toward turning shoppers into buyers as they approach the point of sale is known as ______________________.
shopper marketing
what are the four major classifications of retail organizations
corporate chains, voluntary chains, retailer cooperatives, franchise organizations
Which of the following correctly describes omni-channel retailing?
creating seamless cross-channel buying experience that integrates in-store, online, and mobile shopping
___ is a retailing technique of carefully orchestrating the store's layout and displays, background, music, colors and smells
experiential retailing
Which of the following sets of characteristics correctly classifies retailers
Amount of service offered, the breadth and depth of product lines, relative prices they charge and how they are organized
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?
It turned free-spending consumers into value-seeking ones.
What does the phrase "omni-channel buying calls for omni-channel retailing" imply for retailers?
Retailers should integrate all available shopping channels and devices into a seamless customer shopping experience.
Successful retailers of the future must adopt which type of buying experience that is both seamless and integrates multiple types of media?
Social shopping retailing
progressive wholesalers recognize that their only reason for existing is to
add vlaue
retail stores come in all shapes and sizes, and new retail types keep emerging. Strong retailers can be classified as
amount of service product line sold relative prices how they are organized
After segmenting and defining their target markets, retailers must then ____________________.
decide how they will differentiate and position themselves
What is the overall goal when retailers choose their product assortment?
differentiate the retailer while matching target shoppers' expectations
What is an independently owned businesses that take title to all merchandisehandled?
merchant wholesalers
what makes up the retail marketing mix
product and service assortment price promotion location
retailers must decide on which three major product variables
product assortment, service mix, store atmosphere
what is making differentiation difficult
retail convergence
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?
retailing
By performing the channel function of ________, wholesalers' sales forces help manufacturers reach many small customers at a low cost.
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 ________.
service retailers
___ marketing involves focusing on the entire marketing process on turning shoppers into buyers as they approach the point of sale
shopper marketing
what is not one of the major trends and developments in retailing
social e-tailing
what is retail convergence
the ability of a marketer to establish a relationship with their consumers and persuade them to purchase our products/service by creating engaging omni-channel experiences.
These days, shopper marketing influences consumers' buying decisions and calls for omni-channel retailing, creating seamless cross-channel buying experience that integrates ______ shopping
in-store, online, and mobile
