Chapter 11

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

A

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

A

Superstores that are actually giant specialty stores and have seen tremendous growth recently are called​ _______. A. category killers B. discount stores C. supermarkets D. service retailers E. ​off-price retailers

A

After segmenting and defining their target​ markets, what should retailers do​ next? A. Decide on the level of service. B. Decide on the store atmosphere C. Decide on the product assortment. D. Decide on the location. E. Decide how they will differentiate and position themselves in the market.

E

Carefully orchestrating the​ store's layout and​ displays, background​ music, colors, and smells is related to​ ________. A. green retailing B. online retailing C. social media retailing D. megaretailing E. experiential retailing

E

One retail trend resulting from economic conditions is​ ________. A. tighter consumer spending B. the growth of social media retailing C. green retailing D. the rise of megaretailers E. ​pop-up stores

A

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

A

Which type of retailer carries a narrow product line with deep assortments within those​ lines? A. Supermarkets B. Specialty stores C. Convenience stores D. Department stores E. Superstores

B

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 lower sales volume B. higher sales volume and inefficient operations. C. lower margins and higher sales volume D. higher margins and lower sales volume E. operating at a loss and higher sales volume

C

​Increasingly, different types of retailers now sell the same products at the same prices to the same consumers. This trend is called​ ___________. A. retail blending B. megaretailing C. green retailing D. social media retailing E. retail convergence

E

The practice of coming into retail stores to check out merchandise and prices but making purchases online using a computer or mobile device is called​ _______. A. ​off-price retailing B. showrooming C. shopper retailing D. experiential retailing E. mobile retailing

B

The retail marketing mix consists of which of the​ following? A. Product and service​ assortment, retail​ prices, promotion, and retail targeting B. Product and service​ assortment, retail​ prices, promotion, and location C. Product and service​ assortment, retail​ prices, promotion, and store positioning D. Product and service​ assortment, retail​ prices, promotion and store differentiation. E. Product and service​ assortment, retail​ prices, promotion, and retail segmentation

B

Which wholesaler channel function helps reduce inventory holding costs and the risks of suppliers and​ customers? A. Financing B. Warehousing C. Transportation D. Buying and assortment building E. Risk bearing

B

​________ refers to the activities involved in selling products or services directly to final consumers for their​ personal, nonbusiness use. A. Wholesaling B. Warehousing C. Manufacturing D. Retailing E. Shopper marketing

D

​___________ are the largest single group of​ wholesalers, accounting for roughly 50 percent of all wholesaling. A. Agents B. Brokers C. ​Manufacturers' agents D. Merchant wholesalers E. ​Manufacturers' representatives

D

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

E

Which of the following statements about shopping centers is​ correct? A. Retailers in a shopping center are independently owned and managed. B. Shopping centers cannot have more than 10 stores because of zoning laws. C. Shopping centers are only found in rural areas. D. Banks cannot be part of a shopping center. E. The most common type of shopping center is a strip mall.

E

What is the overall goal when retailers choose their product​ assortment? A. Offer as many products as they can fit on the shelves. B. Differentiate the retailer while matching target​ shoppers' expectations. C. Only choose products that will maximize profits. D. Offer the same products as their competitors. E. Offer products that will appeal to as many segments as possible.

B

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

D

By practicing​ ______ retailing,​ today's retailers are increasingly adopting environmentally sustainable practices. A. independent​ off-price B. ​off-price C. experiential D. green E. service

D

What are the four major types of retail​ organization? A. Corporate​ chains, wholesalers,​ superstores, and franchise organizations. B. Corporate​ chains, voluntary​ chains, retailer​ cooperatives, and wholesalers C. Discount​ stores, service​ retailers, superstores, and supermarkets. D. Corporate​ chains, voluntary​ chains, retailer​ cooperatives, and franchise organizations. E. Corporate​ chains, voluntary​ chains, wholesalers, and franchise organizations.

D

Which of the following correctly describes the retail practice known as​ high-low pricing? A. ​High-low pricing means some products are priced high and others are priced low. B. ​High-low pricing means retailers charge an everyday low price. C. ​High-low pricing means retailers do not have to use promotions. D. ​High-low pricing means charging higher prices on an everyday​ basis, coupled with frequent sales and other price promotions. E. ​High-low pricing means the retailer does not have to run sales on selected items.

D

Which of the following statements about major retail trends is​ true? A. The lifecycle of new retail forms is getting longer. B. The global expansion of major retailers into other countries has slowed down. C. Retail convergence has decreased competition for retailers. D. Online buying is growing at a much brisker pace than retail buying as a whole. E. The green movement has not yet affected retailing.

D

​_______ involves focusing the entire marketing process toward turning shoppers into buyers as they approach the point of sale. A. Retailing B. Warehousing C. Internal marketing D. Shopper marketing E. Showrooming

D

​Macy's carries several product lines—typically ​clothing, home​ furnishings, and household goods—with each line operating as a separate department managed by specialist buyers or merchandisers.​ Macy's is best described as​ a(n) ________. A. department store B. ​off-price retailer C. superstore D. specialty store E. discount store

A