marketing chapter 13
What are the four broad characteristics used to classify retail stores? A. Service, product lines, target market, and price B. Location, product lines, price, and organization C. Service, product lines, price, and organization D. Service, product lines, price, and location E. Service, location, price, and organization
Service, product lines, price, and organization
In terms of location, most stores today cluster together. What is the primary reason for this? A. To ensure they all maintain the same profit margin B. To avoid paying taxes C. To increase their customer pulling power D. To achieve common ownership E. To ensure customers will not "one-stop" shop
To increase their customer pulling power
Which of the following statements regarding wholesaling is correct? A. Wholesalers do not need to segment their markets. B. Wholesalers do not need to define a target market. C. Wholesalers must make decisions regarding their marketing mix. D. Wholesalers do not make positioning decisions. E. Wholesalers do not need to differentiate themselves.
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. A. showrooming B. RFID C. beacon technology D. scanners E. virtual reality
beacon technology
Retailing today requires __________, which means creating a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping. A. omni-channel retailing B. flash sales C. full-service retailing D. showrooming E. wholesaling
omni-channel retailing
Retailers need to differentiate and position their store and make decisions regarding their retail marketing mix. Before making those decisions, retailers must first __________. A. segment and define their target market B. decide on the store atmosphere C. choose a location D. hire knowledgeable staff E. develop a website
segment and define their target market
Which type of retailer carries narrow product lines with deep assortments within those lines? A. Convenience stores B. Discount stores C. Superstores D. Specialty stores E. Department stores
specialty stores
One recent retailing trend resulting from economic conditions is __________. A. green retailing B. the rise of megastores C. retail convergence D. tighter consumer spending E. pop-up stores
tighter consumer spending
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 selling higher volume B. Lower margins and selling lower volume C. Selling higher volume and having inefficient operations D. Operating at a loss and selling higher volume E. Higher margins and selling lower volume
Lower margins and selling higher volume
Which of the following statements about retailer marketing decisions is correct? A. Retailers do not have to segment and target their markets. B. Many retailers identify three critical factors for retail success: location, location, and location. C. Most retailers seek either high markups on higher volume or low markups on lower volume. D. Stores do not need to differentiate and position themselves. E. Retailers do not differentiate themselves on their service mix.
Many retailers identify three critical factors for retail success: location, location, and location.