CH 13- FINAL

competition in U.S.

number of competitors have greatly decreased, but the intensity of competition has greatly increased

4 retailing institutions

-traditional department stores -chain store (early 20th c origins) -food supermarkets -planned shopping center

Which of the following is a recent trend in​ wholesaling? A. Less distinction between large retailers and large wholesalers B. Less attention to building valuable customer relationships C. Decreasing the services provided to retailers D. Increased costs due to the use of​ computerized, automated, and​ Internet-based systems E. Less emphasis on efficiency

A. Less distinction between large retailers and large wholesalers

Retailers must decide on which three major product​ variables? A. Product​ assortment, services​ mix, and store atmosphere B. Product​ assortment, services​ mix, and location C. Product​ assortment, price, and location D. Product​ assortment, store​ atmosphere, and price E. Product​ assortment, services​ mix, and price

A. Product​ assortment, services​ mix, and store atmosphere

_________ are the largest single group of wholesalers. A. Brokers B. Merchant wholesalers C. ​Manufacturers' branches D. Agents E. ​Retailers' branches

B. Merchant wholesalers

L.L. Bean has turned its flagship store into a​ full-fledged outdoor adventure​ center, which is an example of​ __________. A. price decision B. experiential retailing C. services mix D. segmentation decision E. targeting decision

B. experiential retailing

What are the three main types of​ off-price retailers? A. ​Franchises, factory​ outlets, and warehouse clubs B. ​Independents, factory​ outlets, and warehouse clubs C. Discount​ stores, convenience​ stores, and supermarkets D. Discount​ stores, factory​ outlets, and convenience stores E. Discount​ stores, factory​ outlets, and warehouse clubs

B. ​Independents, factory​ outlets, and warehouse clubs

Which of the following statements regarding green retailing is​ correct? A. Green retailing takes place at the store and does not extend to other channel members. B. The only current green retailing initiative is to offer environmentally friendly products. C. Green retailing initiatives extend to helping consumers be more environmentally responsible. D. Retailers today are hesitant to adopt environmentally sustainable practices. E. Green retailing initiatives hurt the bottom line by increasing costs.

C. Green retailing initiatives extend to helping consumers be more environmentally responsible.

Which of the following are the largest group of​ wholesalers, accounting for roughly 50 percent of all​ wholesaling? A. ​Manufacturers' agents B. Agents C. Merchant wholesalers D. Brokers E. ​Manufacturers' representatives

C. Merchant wholesalers

In terms of​ location, most stores today cluster together. What is the primary reason for​ this? A. To achieve common ownership B. To ensure they all maintain the same profit margin C. To increase their customer pulling power D. To avoid paying taxes E. To ensure customers will not​ "one-stop" shop

C. To increase their customer pulling power

​__________ retailing refers to the creation of a seamless​ cross-channel buying experience. A. ​Full-service B. ​Self-service C. ​Omni-channel D. ​Limited-service E. Service

C. ​Omni-channel

Tiffany and Neiman Marcus are classified as​ __________ retailers. A. ​limited-service B. service C. ​full-service D. ​self-service E. ​omni-channel

C. ​full-service

Which type of retailer carries narrow product lines with deep assortments within those​ lines? A. Superstores B. Department stores C. Discount stores D. Specialty stores E. Convenience stores

D. Specialty stores

​__________ are huge unenclosed shopping centers consisting of a long strip of retail stores including freestanding anchor stores. A. Neighborhood shopping centers B. Lifestyle centers C. Community shopping centers D. Regional shopping centers E. Power centers

E. Power centers

Wholesalers add customer value through the​ __________ they offer. A. promotion B. price C. location D. distribution E. products and services

E. products and services

What are the four broad characteristics used to classify retail​ stores? A. ​Location, product​ lines, price, and organization B. ​Service, location,​ price, and organization C. ​Service, product​ lines, price, and location D. ​Service, product​ lines, target​ market, and price E. ​Service, product​ lines, price, and organization

E. ​Service, product​ lines, price, and organization

Retailing today requires​ __________, which means creating a seamless​ cross-channel buying experience that integrates​ in-store, online, and mobile shopping. A. flash sales B. wholesaling C. showrooming D. ​full-service retailing E. ​omni-channel retailing

E. ​omni-channel retailing