Marketing ch 13
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 selling higher volume
Which of the following statements about retailer marketing decisions is correct?
Many retailers identify three critical factors for retail success: location, location, and location.
Which of the following statements about major retail trends is true?
Online buying is growing at a much brisker pace than retail buying as a whole.
How do brokers and agents differ from merchant wholesalers?
Brokers and agents do not take title and perform a limited number of specialized functions.
Which of the following are the largest group of wholesalers, accounting for roughly 50 percent of all wholesaling?
Merchant wholesalers
Which of the following statements regarding wholesaling is correct?
Wholesalers must make decisions regarding their marketing mix.
One new technology being adopted by retailers is __________. For example, when opted-in customers enter a store, a signal wakes up an app on their smartphone or tablet, which welcomes them and alerts them to location-specific rewards and personalized product recommendations within the store.
beacon technology
Recently, superstores that are actually giant specialty stores, such as Petco and Home Depot, have seen tremendous growth. These types of superstores are called __________.
category killers
A cluster of between 15 and 50 retail stores that usually contains a branch of a department store or variety store, a supermarket, specialty stores, professional offices, and (sometimes) a bank is a __________.
community shopping center
Increasingly, different types of retailers now sell the same products at the same prices to the same consumers. This trend is called __________.
retail convergence
Retailers need to differentiate and position their store and make decisions regarding their retail marketing mix. Before making those decisions, retailers must first __________.
segment and define their target market
Which of the following statements regarding green retailing is correct?
Green retailing initiatives extend to helping consumers be more environmentally responsible.
Which of the following is a recent trend in wholesaling?
Less distinction between large retailers and large wholesalers
Which of the following statements regarding retailer pricing decisions is correct?
Most retailers seek either high markups on lower volume or low markups on higher volume.
Retailers must decide on which three major product variables?
Product assortment, services mix, and store atmosphere
What are the four broad characteristics used to classify retail stores?
Service, product lines, price, and organization
Which type of retailer carries narrow product lines with deep assortments within those lines?
Specialty stores
In terms of location, most stores today cluster together. What is the primary reason for this?
To increase their customer pulling power
Which wholesaler channel function helps reduce inventory holding costs?
Warehousing
L.L.Bean has turned its flagship store and campus in Freeport, Maine into a full-fledged outdoor adventure center. There, customers can hike, kayak, or go seal watching at nearby Cisco Bay. This is an example of __________.
experiential retailing
Retailing today requires __________, which means creating a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping.
omni-channel retailing
One recent retailing trend resulting from economic conditions is __________.
tighter consumer spending
What are the three main types of off-price retailers?
Independents, factory outlets, and warehouse clubs
Which of the following best reflects the role of retailing in the distribution channel?
All the activities involved in selling products or services directly to final consumers for their personal, nonbusiness use
__________ involves focusing the entire marketing process toward turning customers into buyers as they approach the point of sale.
Shopper marketing
