Ch 10-11 Maddie

value delivery network

A ________ is made up of the company, suppliers, distributors, and, ultimately, customers who "partner" with each other to improve the performance of the entire system.

specialty stores

GameStop sells video games and systems, offering a narrow product line with a deep assortment within that line. GameStop is a(n)________.

more than one, but fewer than all of the intermediaries willing to carry the firm's products are used

In a selective distribution strategy, ________.

Marketing channels

________ are a set of interdependent organizations that help make the product or service of the company available for use or consumption by the consumer or business user.

Wholesaling

________ includes all activities involved in selling goods and services to those buying for resale or business use.

Cost-based

________ pricing involves setting prices based on the costs for producing, distributing, and selling the product plus a fair rate of return for the company's efforts and risks.

Market-penetration

________ pricing is the approach of setting a low initial price in order to attract a large number of buyers quickly and win a large market share.

Customer value-based pricing

________ uses buyers' perceptions of what a product is worth, not the seller's cost, as the key to pricing.

carrying a limited line of high-turnover daily needs products

A convenience store is most likely to be ________.

product line-up of clothing, home furnishings, and household goods

A department store is characterized by a ________.

Hampton Inns

Based on our in-class discussion, please identify the number one franchisor for 2013.

have experience with the product

Consumers use price less to judge the quality of a product when they ________.

factory outlet

Dina loves branded apparel and accessories but cannot afford to buy them too often. Fortunately, Dina lives close to an off-price retailing outlet that has dozens of stores that offer prices as much as 50 percent below retail on a wide range of mostly surplus, discounted, or irregular goods. This outlet is an example of a ________.

factory outlet

Dina loves branded apparel and accessories but cannot afford to buy them too often. Fortunately, Dina lives close to an off-price retailing outlet that is owned and operated by a famous brand. The company utilizes this store to sell all its surplus, discontinued, or irregular goods at significantly lower costs. This outlet is an example of a ________.

full-service retailer

Flax is a chain of stores that carries several product lines including clothing, home furnishing, and household goods, with each line operated as a separate department dedicated to the motto of customer satisfaction. Flax is most likely a(n) ________.

warehouse clubs

In the case of ________ customers pay annual membership fees and are able to purchase goods at deep discounts.

revenue

Price is the only element in the marketing mix that produces ________.

create greater efficiency in making goods available to target markets

Producers use marketing intermediaries because they ________.

market-penetration pricing

Qriosity Inc. comes out with a new antivirus program and prices it at half price to attract buyers. The company is using ________.

narrow product lines with deep assortments

Specialty stores are characterized by the ________.

limited-service retailers

Stores that provide moderate sales assistance because they carry shopping goods about which customers need a moderate level of information are called ________.

customer-segment pricing

The New Age Gallery has different admission prices for students, adults, and seniors. All three groups are entitled to the same services. This form of pricing is called ________.

captive product pricing

The fact that a hot dog cost five times more at Disneyland than at Sam's Club is an example of ________.

pure competition

Under ________, the market consists of many buyers and sellers trading in a uniform commodity such as wheat, copper, or financial securities.

warehousing

Which of the following channel functions of wholesalers is demonstrated when a wholesaler reduces inventory holding costs and risks to suppliers and customers?

to address the issue of overdemand for a product

Which of the following is a reason for a company to raise its prices?

The dealer obtains a steady source of supply from producers.

Which of the following is an advantage of exclusive dealing?

Services like hotels, banks, airlines, restaurants, colleges, and hospitals can be retailed.

Which of the following statements is true with regard to retailing?

category killers

Which of the following types of stores carries a deep assortment of goods in each category, has knowledgeable staff, and is often viewed as a very large specialty store?

superstores

Which of the following types of stores is much larger than regular supermarkets and offers a large assortment of routinely purchased food products, nonfood items, and services?