Chapter 13

​__________ have shifted the balance of power between retailers and producers. A. Green retailing B. Showrooms C. Pop-up stores D. Megaretailers E. Omni-channel retailing

Megaretailers

​________ are the largest single group of​ wholesalers, accounting for roughly​ 50% of all wholesaling. A. Brokers B. Manufacturers' agents C. Agents D. Manufacturers' representatives E. Merchant wholesalers

Merchant wholesalers

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

Product​ assortment, services​ mix, and store atmosphere

​_______ involves focusing the entire marketing process toward turning shoppers into buyers as they approach the point of sale. A. Omnichannel buying B. Full-service retailing C. Retailing D. Wholesaling E. Shopper marketing

Shopper marketing

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

full-service

By practicing​ ________, today's retailers are increasingly adopting environmentally sustainable practices. A. megaretailing B. social media retailing C. retail convergence D. green retailing E. mobile retailing

green retailing

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

Lower margins and selling higher volume

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

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

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

Omni-channel

Which of the following statements about major retail trends is​ true? A. Online buying is growing at a much brisker pace than retail buying as a whole. B. The global expansion of major retailers into other countries has slowed down. C. Retail convergence has decreased competition for retailers. D. The lifecycle of new retail forms is increasing. E. The green movement has not yet affected retailing.

Online buying is growing at a much brisker pace than retail buying as a whole

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

Power centers

​________ carry narrow product lines with deep assortments within those lines. A. Superstores B. Convenience stores C. Discount stores D. Department stores E. Specialty stores

Specialty stores

Which wholesaler channel function helps reduce inventory holding costs and the risks of suppliers and​ customers? A. Risk bearing B. Buying and assortment building C. Warehousing D. Transportation E. Financing

Warehousing

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

Wholesalers must make decisions regarding their marketing mix

A​ ________ contains between 15 and 50 retail stores. It normally contains a branch of a department store or variety​ store, a​ supermarket, specialty​ stores, professional​ offices, and sometimes a bank. A. lifestyle center B. neighborhood shopping center C. power center D. community shopping center E. regional shopping mall

community shopping center

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

experiential retailing

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

products and services

​Increasingly, different types of retailers now sell the same products at the same prices to the same consumers. This trend is called​ ________. A. green retailing B. pop-up stores C. retail convergence D. megaretailing E. social media retailing

retail convergence

A retail trend resulting from weak economic conditions is​ ________. A. pop-up stores B. the rise of megaretailers C. the growth of social media retailing D. green retailing E. tighter consumer spending

tighter consumer spending

The retail marketing mix consists of which of the​ following? A. Product and service​ assortment, retail​ prices, promotion, and retail targeting B. Product and service​ assortment, retail​ prices, promotion, and retail segmentation C. Product and service​ assortment, retail​ prices, promotion, and store positioning D. Product and service​ assortment, retail​ prices, promotion, and place E. Product and service​ assortment, retail​ prices, promotion, and store differentiation

Product and service​ assortment, retail​ prices, promotion, and place

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

financing

One type of contractual retail association is a​ ________, which is a group of independent retailers that bands together to set up a jointly​ owned, central wholesale operation and conduct joint merchandising and promotion efforts. A. franchise organization B. retailer cooperative C. voluntary chain D. corporate chain E. warehouse club

retailer cooperative

Which one of the following statements does NOT portray the success of global expansion of major​ retailers? A. Retailers with unique formats and strong brand positions are increasingly moving into other countries. B. Adapting the operations that work well in the home country create success abroad. C. Retailers can face dramatically different retail environments when crossing​ countries, continents, and cultures. D. Many retailers are expanding internationally to escape saturated home markets. E. International retailing presents challenges as well as opportunities.

Adapting the operations that work well in the home country create success abroad

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

Merchant wholesalers