Chapter 11 Quiz

Which of the following types of wholesalers are Independently owned businesses that take title to all merchandise​ handled? A. Merchant wholesalers B. ​Manufacturers' agents C. Industrial distributors D. Brokers E. Rack jobbers

Merchant wholesalers

Which of the following statements about wholesaling is​ true? A. Wholesalers do not make positioning decisions. B. Wholesalers must make decisions regarding their marketing mix. C. Wholesalers do not need to segment their markets. D. Wholesalers do not need to differentiate themselves. E. Wholesalers do not need to define a target market.

Wholesalers must make decisions regarding their marketing mix.

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 sales volume and inefficient operations B. Lower margins and higher sales volume C. Higher margins and lower sales volume D. Lower margins and lower sales volume E. Operating at a loss and higher sales volume

Lower margins and higher sales volume

Which of the following represents the four major classifications of retail​ organizations? A. Discount​ stores, service​ retailers, superstores, and supermarkets B. Corporate​ chains, wholesalers,​ superstores, and franchise organizations C. Corporate​ chains, voluntary​ chains, wholesalers, and franchise organizations D. Corporate​ chains, voluntary​ chains, retailer​ cooperatives, and wholesalers E. Corporate​ chains, voluntary​ chains, retailer​ cooperatives, and franchise organizations

Corporate​ chains, voluntary​ chains, retailer​ cooperatives, and franchise organizations

Hotels and​ motels, banks,​ airlines, restaurants,​ colleges, hospitals, movie​ theaters, tennis​ clubs, bowling​ alleys, repair​ services, hair​ salons, and dry cleaners are all examples of​ ________. A. service retailers B. ​non-retailers C. wholesalers D. franchises E. specialty stores

service retailers

Which of the following makes up the retail marketing​ mix? A. Product and services​ assortment, price,​ promotion, and location B. Product and services​ assortment, price,​ promotion, and retail segmentation C. Product and services​ assortment, price,​ promotion, and retail targeting D. Product and services​ assortment, prices,​ promotion, and store positioning E. Product and services​ assortment, price, promotion and store differentiation

A. Product and services​ assortment, price,​ promotion, and location

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

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

Which of the following correctly describes​ omni-channel retailing? A. Selling products online environments B. Setting up franchises in different locations with seamless delivery of integrated services C. Creating a seamless​ cross-channel buying experience that integrates​ in-store, online, and mobile shopping D. Developing close partnerships between wholesalers and retailers E. Allowing one supplier to sell to multiple retailers through multiple channels

Creating a seamless​ cross-channel buying experience that integrates​ in-store, online, and mobile shopping

What is the overall goal when retailers choose their product​ assortment? A. Offer as many products as they can fit on the shelves B. Offer products that will appeal to as many segments as possible C. Differentiate the retailer while matching target​ shoppers' expectations D. Offer the same products as their competitors E. Only choose products that will maximize profits

Differentiate the retailer while matching target​ shoppers' expectations

​_____________________ is a retailing technique of carefully orchestrating the​ store's layout and​ displays, background​ music, colors, and smells. A. Wholesaling B. Experiential retailing C. Environmental retailing D. Interior design E. ​Omni-channel retailing

Experiential retailing

The Great Recession of​ 2008-2009 had a profound effect on the economy and consumers. Of the​ following, which represents one of the major consumer trends resulting from the Great​ Recession? A. It forced consumers to become​ omni-channel shoppers. B. It created a trend away from consumer spending on​ well-known brands. C. It turned​ free-spending consumers into​ value-seeking ones. D. It restricted retail expansion domestically and internationally. E. It turned​ brick-and-mortar retailers into​ Internet-only retailers.

It turned​ free-spending consumers into​ value-seeking ones.

Which of the following retail trends is making differentiation more​ difficult? A. Retail convergence B. The demise of​ brick-and-mortar retail C. ​Value-seeking consumers D. Retail global expansion E. ​Omni-channel retailing

Retail convergence

Which of the following describes the activities that play an important role in connecting brands to consumers in the final phases of the buying​ process? A. Shopper marketing B. Manufacturing C. Warehousing D.Wholesaling E. Retailing

Retailing

Successful retailers of the future must adopt which type of buying experience that is both seamless and integrates multiple types of​ media? A. Social shopping retailing B. ​Direct-to-consumer retailing C. Discount retailing D. ​Omni-channel retailing E. ​Off-price retailing

Social shopping retailing

Which of the following does NOT represent one of the major trends and developments in​ retailing? A. The rise of megaretailers B. A surge in green retailing C. Retail convergence D. Growing importance of retail technology E. Social​ e-tailing

Social​ e-tailing

Which of the following is TRUE regarding​ omni-channel buyers? A. They always shop​ in-store channels, then order online. B. They prefer the online environment. C. They shift easily across online and​ in-store channels. D. They do not shift easily across online and​ in-store channels. E. They purchase online but tend to purchase more​ in-store.

They shift easily across online and​ in-store channels.

Progressive wholesalers recognize that their only reason for existing is to​ ____________________. A. provide selling support B. automate distribution C. bear the risk of sales and distribution D. finance retailing transactions E. add value

add value

Best​ Buy, Home​ Depot, Petco, and Bed Bath​ & Beyond, which are actually giant specialty stores characterized by immense size and deep assortments of​ merchandise, are sometimes called​ _______________. A. supermarkets B. ​off-price retailers C. category killers D. service retailers E. discount stores

category killers

After segmenting and defining their target​ markets, retailers must then​ ____________________. A. decide on the level of service they will provide B. decide how they will differentiate and position themselves C. decide on pricing by product line and assortment D. decide on the store atmosphere and shopping experience E. decide on the product assortment and volume they will stock

decide how they will differentiate and position themselves

The massive shift in how and where people buy calls for​ __________________________. A. massive spending increases in advertising and sales promotion B. massive shifts to​ online-only environments for​ brick-and-mortar retailers C. massive shifts in pricing strategies D. massive shifts in how store retailers operate E. massive spending in social media for​ brick-and-mortar retailers

massive shifts in how store retailers operate

By performing the channel function of​ ________, wholesalers' sales forces help manufacturers reach many small customers at a low cost. A. financing B. ​bulk-breaking C. selling and promoting D. risk bearing E. buying and assortment building

selling and promoting

Focusing the entire marketing process toward turning shoppers into buyers as they approach the point of sale is known as​ ______________________. A. shopper marketing B. warehousing C. retailing D. showrooming E. internal marketing

shopper marketing

Which of the following statements about retailer marketing decisions is​ correct? A. Most retailers seek either high markups on higher volume or low markups on lower volume. B. Stores do not need to differentiate and position themselves. C. Retailers do not have to segment and target their markets. D. Retailers do not differentiate themselves on their service mix. E. Retailers identify three critical factors for retail​ success: location,​ location, and location.

Retailers identify three critical factors for retail​ success: location,​ location, and location.

What does the phrase​ "omni-channel buying calls for​ omni-channel retailing" imply for​ retailers? A. Retailers should integrate all available​ supply-chain channels into their distribution systems. B. Retailers should integrate all available shopping channels and devices into a seamless customer shopping experience. C. Retailers should plan and budget for expansion of​ brick-and-mortar shopping experiences. D. Retailers should attempt to attract​ omni-channel buyers to​ brick-and-mortar settings through experiential retailing. E. Retailers should make certain they focus on social and digital media as their main advertising vehicles.

Retailers should integrate all available shopping channels and devices into a seamless customer shopping experience.

Macy's, Kohl's, and JCPenney practice a retailing pricing strategy called​ "high-low pricing." Which of the following correctly describes​ high-low pricing? A. Retailers charge an everyday low price with no special promotions. B. Some products are priced​ high, others are priced​ low, and still others are priced at​ bargain-basement levels. C. Retailers do not have to use promotions. D. The retailer charges higher prices on an everyday​ basis, coupled with frequent sales and other price promotions. E. The retailer does not have to run sales on selected items.

The retailer charges higher prices on an everyday​ basis, coupled with frequent sales and other price promotions.