BCOR 350 Chapter 13
Advertising
, personal selling, sales promotion, public relations, and direct marketing are all considered promotion decisions.
off-price retailer
A store that buys at less-than-regular wholesale prices and sells at less than retail is a(n) __________.
Price decisions
Deciding on either high markups on lower volume or low markups on higher volume are price decisions. A retailer's price policy must fit its target market and positioning, product and service assortment, the competition, and economic factors.
store atmosphere
Deciding on store atmosphere is a major part of a product variable, and is an example of product assortment and services decision. The retailer's product assortment should differentiate it while matching target shoppers' expectations.
__________ provide an entire line of services: carrying stock, maintaining a sales force, offering credit, making deliveries, and providing management assistance.
Full-Service wholesalers
__________ retailing refers to the creation of a seamless cross-channel buying experience.
Omni-channel
________ are huge unenclosed shopping centers consisting of a long strip of retail stores including freestanding anchor stores.
Power center
showrooming
The shopping practice of coming into retail stores to check out merchandise and prices but instead buying from an online-only rival
__________ is an example of a discount store
Walmart
Voluntary chain
Which of the following is a wholesaler-sponsored group of independent retailers engaged in group buying and merchandising?
L.L. Bean has turned its flagship store into a full-fledged outdoor adventure center, which is an example of __________.
experiential retailing
Tiffany and Neiman Marcus are classified as __________ retailers.
full service
Limited-service wholesalers .
offer fewer services than full-service wholesalers
Limited-service wholesalers __________.
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 __________.
place decision
Wholesalers add customer value through the __________ they offer.
products and services
Full-service wholesalers
provide a full line of services: carrying stock, maintaining a sales force, offering credit, making deliveries, and providing management assistance.
Wholesale merchants
sell primarily to retailers and provide a full range of services.
Industrial distributors __________.
sell to manufacturers rather than to retailers
A(n) __________ is a store that offers a large assortment of routinely purchased food products, nonfood items, and services.
superstore
Which one of the following statements does NOT portray the success of global expansion of major retailers? Adapting the operations that work well in the home country create success abroad. Your answer is correct .B. Many retailers are expanding internationally to escape saturated home markets. C. International retailing presents challenges as well as opportunities. D. Retailers can face dramatically different retail environments when crossing countries, continents, and cultures. E. Retailers with unique formats and strong brand positions are increasingly moving into other countries.
Adapting the operations that work well in the home country create success abroad
Which of the following describes promotion decisions?
Advertising, personal selling, sales promotion, public relations, and direct marketing
sell to manufacturers rather than to retailers. They provide several services, such as carrying stock, offering credit, and providing delivery.
Industrial distributors
Which of the following is an example of a discount store?
Kohl's
_________ have shifted the balance of power between retailers and producers.
Megaretailers
__________ are the largest single group of wholesalers.
Merchant wholesalers
A franchise
is 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
retailer cooperative
is a group of independent retailers who jointly establish a central buying organization and conduct joint promotion efforts.
A supermarket
is a large, low-cost, low-margin, high-volume, self-service store that carries a wide variety of grocery and household products.
department store
is a retail store that carries a wide variety of product lines, each operated as a separate department managed by specialist buyers or merchandisers
convenience store
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.
Retailing
is all the activities involved in selling goods or services directly to final consumers for their personal, nonbusiness use.
corporate chain
two or more outlets that are commonly owned and controlled