Ch. 13 Quiz

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

A) Merchant wholesalers

Which of the following statements regarding retailer pricing decisions is​ correct? A) Most retailers seek either high markups on lower volume or low markups on higher volume. B) Everyday low pricing is a strategy that has proven to be ineffective. C) All retailers use some type of price promotions. D) High-low pricing is a strategy used by wholesalers when they sell to retailers. E) Competition and economic factors do not influence retail pricing decisions.

A) Most retailers seek either high markups on lower volume or low markups on higher volume

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

A) Specialty stores

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

B) Product assortment, services mix, and store atmosphere

​__________ involves focusing the entire marketing process toward turning customers into buyers as they approach the point of sale. A) Full-service retailing B) Shopper marketing C) Retailing D) Wholesaling E) Retail convergence

B) Shopper marketing

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) beacon technology C) RFID D) virtual reality E) scanners

B) beacon technology

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

D) Service, product lines, price, and organization

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

D) To increase their customer pulling power

Retailers need to differentiate and position their store and make decisions regarding their retail marketing mix. Before making those​ decisions, retailers must first​ __________. A) hire knowledgeable staff B) segment and define their target market C) choose a location D) develop a website E) decide on the store atmosphere

B) segment and define their target market

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

C) Independents, factory outlets, and warehouse clubs

​Recently, superstores that are actually giant specialty​ stores, such as Petco and Home​ Depot, have seen tremendous growth. These types of superstores are called​ __________. A) department stores B) off-price retailers C) category killers D) discount stores E) warehouse clubs

C) category killers

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

D) omni-channel retailing

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

E) Green retailing initiatives extend to helping consumers be more environmentally responsible

Which wholesaler channel function helps reduce inventory holding​ costs? A) Financing B) Risk bearing C) Transportation D) Buying and assortment building E) Warehousing

E) Warehouse

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) Higher margins and selling lower volume B) Selling higher volume and having inefficient operations C) Operating at a loss and selling higher volume D) Lower margins and selling lower volume E) Lower margins and selling higher volume

E) lower margins and selling higher volume