Marketing ch. 13

With the advent of online shopping, buying no loner takes place only in stores. How does Google define the point at which consumers begin the buying process by searching fro and learning about products online? a. showrooming b. "moment of truth" c. omnichannels d. "zero moment of truth" e. shopper marketing

"zero moment of truth"

Many American retailers are expanding internationally to escape home markets. How do American firms fare in the global retail sector? a. only fast-food franchises have ventured successfully into the foreign market b. the foreign market is easier for retailers because it is less well developed c. the foreign market is cheaper because firms do not need to be green d. American firms are behind Asian and European retailers in global expansion e. American retailers are the most profitable

American firms are behind Asian and European retailers in global expansion

Which of the following is an example of a discount store? a. Kohl's b. 7-Eleven c. Williams-Sonoma d. Costco

Kohl's

______ is an example of a discount store a. Walmart b. TJ Maxx c. Sunglass Hut d. Circle K

Walmart

What is a retailer cooperative? a. a wholesaler-sponsored group of independent retailers engaged in group buying and merchandising b. a group of independent retailers who jointly establish a central buying organization and conduct joint promotion efforts c. a contractual association between a franchisor and franchisees d. two or more outlets that are commonly owned and controlled

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

A supermarket is _______ a. a store that offers a large assortment of routinely purchased food products, nonfood items, and services b. 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 c. a large, low-cost, low-margin, high-volume, self-service store that carries a wide variety of grocery and household products d. a retail store that carries a wide variety of product lines, each operated as a separate department managed by specialist buyers or merchandisers

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

A voluntary chain is ______ a. a wholesaler-sponsored group of independent retailers engages in group buying and merchandising b. two or more outlets that are common owned and controlled c. a contractual association between a franchisor and franchisees d. a group of independent retailers who jointly establish a central buying organization and conduct joint promotion efforts

a wholesaler-sponsored group of independent retailers engaged in group buying and merchandising

Which of the following describes wholesaling? a. a group of retail business built on a site that is planned, developed, owned, and managed as a unit b. all the activities involved in selling goods or services directly to final consumers for their personal, nonbusiness use c. all the activities involved in selling goods and services to those buying for resale and business use d. focusing the entire marketing process on turning shoppers into buyers as they approach the point of sale

all the activities involved in selling goods and services to those buying for resale and business use

Which of the following describes retailing? a. the shopping practice of coming into retail stores to check out merchandise and prices but instead buying from an online-only rival b. 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 c. a group of independent retailers who jointly establish a central buying organization and conduct joint promotion efforts d. all the activities involved in selling goods or services directly to final consumers for their personal, nonbusiness use

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

Wholesalers fall into three major groups: merchant wholesalers, _________, and manufacturers' and retailers' branches and offices a. brokers and agents b. freight forwarders c. manufacturers' representatives d. limited-service wholesalers e. full-service wholesalers

brokers and agents

_______ differ from merchant wholesalers in that they do not take possession of the goods and perform only a limited set of functions. a. producer's cooperatives b. rack jobbers c. wholesale merchants d. drop shippers e. brokers and agents

brokers and agents

Which of the following describes an off-price retailer? a. a giant specialty store that carries a very deep assortment of a particular line b. buys at less-than-regular wholesale prices and sells at less than retail c. a group of retailer businesses built on a site that is planned, developed, owned, and managed as a unit d. a large, low-cost, low-margin, high-volume, self-service store that carries a wide variety of grocery and household products

buys at less-than-regular wholesale prices and sells at less than retail

Which classification is a store that sells only lights and light bulbs but in every size and shape, and that are sources from scores of manufacturers? a. discount store b. convenience store c. department store d. specialty store e. category killer

category killer

Which of the following 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? a. supermarket b. superstore c. department store d. convenience store

convenience store

Wholesalers typically use which pricing strategy? a. target price b. break-even c. competitive parity d. cost-plus e. value-based pricing

cost-plus

Increasingly, retailers are adopting environmentally sustainable practices. Which of the following is a method retailers have embraced to present a more sustainable image? a. creating more aesthetically appealing packaging in conjunction with producers b, relying on greater levels of advertising to create demand c. making product assortments that are larger and give the consumer more options d. creating more sustainable products and packaging in conjunction with producers e. making the stores more cost-effective to

creating more sustainable products and packaging in conjunction with producers

Retailers such as Walmart, Costco, ALDI, and Family Dollar are known for maintaining low prices and rarely offering sales or other discounts, a practice known as _______ a. positioning b. brand portfolio c. everyday low-pricing d. mission e. target market

everyday low-pricing

Bass Pro Shop is in the process of converting a landmark 32-story, stainless steel basketball arena in Memphis, formerly known as the Pyramid, into a huge Bass Pro Shops Outdoor World retail store. The facility will include a restaurant, aquarium, waterfall, as well as a hotel and museum. Shoppers will even be able to test drive watercraft from an adjoining marina on the banks of the Mississippi River. This is an example of a growing retail marketing trend known as ______. a. expeiential retailing b. pop-up stores c. lifestyle retailing d. store differentiation e. omni-channel retailing

experiential retailing

Among the off-price retailers, there are three types of stores: independents, warehouse clubs, and _______ a. factory outlets b. convenience stores c. superstores d. discount stores e. category killers

factory outlets

High-end department stores, such as Nordstrom and Neiman Marcus, which offer buyers more specialty products, and actively seek to assist customers in every phase of the shopping process, are often referred to as _______ a. discount retailers b. category killers c. superstores d. full-service retailers e. limited service retailers

full-service retailers

______ provide an entire line of services: carrying stock, maintaining a sales force, offering credit, making deliveries, and providing management assistance a. limited-service wholesalers b. full-service wholesalers c. wholesale merchants d. industrial distributors

full-service wholesalers

Wholesalers are facing increasing pressure in the channels. Which one of the following factors of the marketplace is creating an advantage for marketing managers? a. more demanding customers b. greater competition c. more-direct buying programs on the part of buyers d. greater technology requirements e. greater lengthening of the channel of distribution

greater lengthening of the channel of distribution

There are many reasons why a manufacturer would lengthen and add intermediaries to the flow goods. Which one of the following is a disadvantage of using wholesalers in the process of distribution? a. risk bearing b. increasing the cost c. warehousing d. transporting e. breaking bulk

increasing the cost

In comparison to the traditional grocery, which averages about $320,000 in weekly sales, the weekly sales volume for a supercenter is in excess of $1.4m. In what other manner is the supercenter different from the traditional grocery store? a. it offers gasoline in addition to groceries b. it offers in-store dining in addition to groceries c. it offers discount merchandise in addition to groceries d. it offers a pharmacy in addition to groceries e. it offers furniture in addition to groceries

it offers discount merchandise in addition to groceries

Different types of customers and products require different amounts of service. To meet these varying service needs, retailers might offer one of three service levels: self-services, ______ , and full service a. intensive service b. selective service c. limited service d. omnichannel service e. online service

limited service

What is the most common type of agent wholesaler? a. manufacturers' and retailers' branches and offices b. full-service wholesalers c. freight forwarders d. limited-service wholesalers e. manufacturers' representatives

manufacturers' representatives

Limited-service wholesalers ______ a. offer fewer services than other wholesalers b. sell primarily to retailers and provide a full range of services c. sell to manufacturers rather than to retailers d. provide a full line of services

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 ________ a. place decision b. promotion decision c. price decision d. product assortment and services decision

place decision

The Brazilian sandal market Havaianas is known for opening temporary stores, or _______, at beaches, festivals, and other summer hot spots around the world a. pop-up shops b. neighborhood shopping centers c. specialty stores d. experiential retail e. convenience stores

pop-up shops

A recent retail trend is to create limited-time retail facilities that let firms promote their brands to seasonal shoppers and create buzz in busy areas. What are these short-term establishments called? a. retail convergences b. pop-up stores c. showrooming d. brick-and-mortar retailers e. multichannel retailers

pop-up stores

Deciding on either high markups on lower volume or low markups on higher volume is an example of a _______ a. price decision b. place decision c. promotion decision d. product assortment and services decision

price decision

Deciding on store atmosphere is a major part of a product variable, and is an example of a ______ a. price decision b. promotion decision c. product assortment and services decision d. place decision

product assortment and services decision

Advertising, personal selling, sales promotion, public relations, and direct marketing are all considered a. price decisions b. promotion decisions c. place decisions d. product assortment and services decisions

promotion decisions

In an effort to compete against large firms, some independent stores band together to set up a jointly owned wholesale operation and conduct joint merchandising and promotion efforts as Ace Hardware has done. What is this organization called? a. retailer cooperative b. corporate chain c. franchise d. voluntary chain e. category killer

retailer cooperative

Which type of service do discount retailers like Target, Walmart, and Kohl's offer shoppers? a. selective service b. full-service retailers c. online service d. self-service e. limited-service retailers

self-service

Industrial distributors _______ a. sell to manufacturers rather than to retailers b. provide a full line of services: carrying stock, maintaining a sales force, offering credit, making deliveries, and providing management assistance c. offer fewer services that full-service wholesalers d. sell primarily to retailers and provide a full range of services

sell to manufacturers rather than to retailers

Which of the following is a group of retail business built on a site that is planned, developed, owned and managed as a unit? a. shopper marketing b. category killer c. corporate chain d. shopping center

shopping center

Retailers constantly have to scan the environment for new trends in shopping and retailing. Which of the following is a trend the retailer confronts currently? a. retail divergence b. the rise of department store retailers c. shortening retail life cycles d. more extravagant shopping behavior of consumers e. lengthening retail life cycles

shortening retail life cycles

With increased availability of smartphones and mobile computing, many shoppers now check out merchandise at physical stores but then buy products online using a computer or mobile device, sometimes even while they are in the store. This practice is widely known as ________ a. everyday low pricing b. retail convergence c. pop-up retailing d. drop shipping e. showrooming

showrooming

A retailer that carries narrow product lines with deep assortments within those lines is classified as what type of retailer? In response the use of market segmentation, market targeting, and product specialization, there is a greater need for store in this classification that focus on specific products and segments. a. superstore b. department store c. specialty store d. convenience store e. discount store

specialty store

In segmenting and targeting its markets, the retailer must make several product decisions including product assortment, services mix, and ________ a. power centers b. employee benefits c. experiential marketing d. store atmosphere e. lifestyle centers

store atmosphere

A superstore is a _______ a. store that offers a large assortment of routinely purchased food products, nonfood items, and services b. 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 c. retail store that carries a wide variety of product lines, each operated as a separate department managed by specialist buyers or merchandisers d. large, low-cost, low-margin, high-volume, self-service store that carries a wide variety of grocery and household products

store that offers a large assortment of routinely purchased food products, nonfood items, and services

Retailers are classified by several characteristics. Which one of the following includes methods for classifying retailers? a. breadth and depth of product lines, and profitability of products b. relative prices, profitability of products, and breadth and depth of product lines c. how they are organized, profitability of products, and relative prices d. profitability of products, the amount of service they offer, and relative prices e. the amount of service they offer, relative prices, and the breadth and depth of product lines

the amount of service they offer, relative prices, and the breadth and depth of product lines

What is the driving forces for wholesalers in the current market facing increased economic pressure? a. cutting their promotional expenses b. the need for ever-greater efficiency c. greater variety of goods d. being able to move to low-cost, low-rent locations e. lengthening the channels

the need for ever-greater efficiency

Which of the following describes showrooming? a. all the activities involved in selling goods or services directly to final consumers for their personal, nonbusiness use b. 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 c. a group of independent retailers who jointly establish a central buying organization and conduct joint promotion efforts d. the shopping practice of coming into retail stores to check out merchandise and price but instead buying from an online-only rival

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

There is a distinct difference between off-price retailers and discounters. Although the discounters buy at regular wholesale prices and accept lower margins to keep prices down, off-price operate differently. What is the off-price retailers' pricing strategy? a. they operate in warehouse-like facilities in low-rent, heavily traveled districts b. they offer volume discounts c. they buy at less-than-regular wholesale prices d. they do not pay employees a fair wage e. they force suppliers to take no profits on merchandise sold

they buy at less-than-regular wholesale prices

How do brokers and agents differ from merchant wholesalers? a. they do not take title to the goods b. they inventory the merchandise and warehouse it for long periods of time c. they charge more for the services provided d. they perform very specific tasks in pricing goods e. they are full-service wholesalers

they do not take title to the goods

Full-service retailers can be described in several ways. Which of the following accurately describes a full-service retailer? a. consumers perform their own locate-compare-select process b. they carry a limited assortment of specialty goods c. they have higher operating costs d. they do not include high-end specialty stores e. they offer assistance only through the final stages of the buying process

they have higher operating costs

Warehouse club off-price retailer Costco features a glittering, constantly shifting array of one-time specials, such as discounted Prada bags, Calloway golf clubs, and Kenneth Cole bags. Of the 4,000 items that Costco carries, 1,000 are these special items called by the retailer ________ a. discounts b. pirated merchandise c. off-price merchandise d. treasure items e. category killers

treasure items

A corporate chain is best defined as _______ a. a wholesaler-sponsored group of independent retailers engaged in group buying and merchandising b. two or more outlets that are commonly owned and controlled c. a group of independent retailers who jointly establish a central buying organization and conduct joint promotion efforts d. a contractual association between a franchisor and franchisees

two or more outlets that are commonly owned and controlled

Retail stores like Costco, Sam's Club, and BJ's are examples of the _____ retailer category. a. category killer b. warehouse club c. superstore d. discount store e. off-price

warehouse club

_______ sell primarily to retailers and provide a full range of services a. wholesale merchants b. industrial distributors c. full-service wholesalers d. limited-service wholesalers

wholesale merchants

______ buy mostly from producers and sell mostly to retailers, industrial consumers, and other wholesalers a. wholesalers b. missions c. drop shippers d. brand portfolios e. rack jobbers

wholesalers

All of the activities involved in selling goods and services to those buying them for resale or business use is called what? a. wholesaling b. marking and ticketing c. retailing d. warehousing e. bulk breaking

wholesaling

What is the name for all the activities involved in selling goods and services to those buying for resale and business use? a. retailing b. wholesaling c. shopping center d. shopper marketing

wholesaling