BUSML 3150 Chapter 11

Because​ today's consumers shift seamlessly across​ channels, many online​ retailers, including​ Amazon, are moving​ _________.

Into the physical world

Which of the following is NOT a major recent trend in​ retailing?

Less frugal consumer spending

The online and mobile equivalent of​ pop-ups is​ ________.

Online flash sales

What are the three major product variables retailers must decide​ on?

Product​ assortment, services​ mix, and store atmosphere

The trend of​ ________ has resulted in different types of retailers now selling the same products at the same prices to the same consumers.

Retail convergence

Guided by​ __________, retailers must decide on a retail marketing mix—product and services​ assortment, price,​ promotion, and place.

Strong targeting and positioning

​A(n) ________ is a​ large, low-cost,​ low-margin, high-volume,​ self-service store that carries a wide variety of grocery and household products.

Supermarket

Attracting and holding customers presents great challenges and decision points for retailers. Of the​ following, which is NOT one of the areas in which they face major​ decisions?

The type of wholesaling to use

Progressive wholesalers constantly watch for better ways to meet the changing needs of​ _________.

Their suppliers and target customers

Which wholesaler channel function helps reduce inventory holding costs and the risks of suppliers and​ customers?

Warehousing

It is important that retailers select locations that are accessible to the target market in areas that are consistent with the​ ___________.

​Retailer's positioning

In the long​ run, the only reason for a wholesaler to exist is to​ ________ by increasing the efficiency and effectiveness of the entire marketing channel.

Add value

Which of the following sets of characteristics correctly classifies​ retailers?

Amount of service​ offered, the breadth and depth of product​ lines, relative prices they​ charge, and how they are organized

The​ Sherwin-Williams Color Visualizer app lets you​ "Color It Before You Paint​ It!" by uploading actual room images and painting them virtually. This is an example of which advance in retail​ technology?

Augmented reality

​Omni-channel retailing goes beyond just helping​ in-store customers as they​ cross-shop on mobile devices and requires​ ____________.

Carefully integrating the entire range of available shopping channels

New retail forms continue to emerge.​ However, different types of retailers are increasingly serving similar customers with the same products and prices​ (retail convergence), making​ __________ more difficult.

Differentiation

By practicing​ ________, today's retailers are increasingly adopting environmentally sustainable practices.

Green retailing

Which wholesaler channel function helps customers save money by buying in truckload​ lots?

Bulk breaking

Recent years have seen the rapid growth of superstores that are actually giant specialty​ stores; they are sometimes called​ _________.

Category killers

Which of the following statements about​ omni-channel buyers is NOT​ correct?

They do not need the​ bricks-and-mortar environment in which to shop.

​________ involves creating a seamless buying experience that integrates​ in-store, online, and mobile shopping.

​Omni-channel marketing

The three major groups of wholesalers are​ ________.

Merchant​ wholesalers, brokers and​ agents, and​ manufacturers' and​ retailers' branches and offices

Many marketers are now embracing the concept of​ ________, which focuses the entire marketing process toward turning shoppers into buyers as they move along toward the point of sale.

Shopper marketing

Which statement regarding price decisions is​ true?

A​ retailer's price policy must fit its target market and​ positioning, product and service​ assortment, the​ competition, and economic factors.