Chapter 13 Quiz
Which of the following statements regarding green retailing is correct?
Green retailing initiatives extend to helping consumers be more environmentally responsible.
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?
Lower margins and selling higher volume
Which of the following statements regarding retailer pricing decisions is correct?
Most retailers seek either high markups on lower volume or low markups on higher volume.
Retailers must decide on which three major product variables?
Product assortment, services mix, and store atmosphere
Which type of retailer carries narrow product lines with deep assortments within those lines?
Specialty stores
Which of the following statements regarding wholesaling is correct?
Wholesalers must make decisions regarding their marketing mix.
Retailing today requires __________, which means creating a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping.
omni-channel retailing
Increasingly, different types of retailers now sell the same products at the same prices to the same consumers. This trend is called __________.
retail convergence
Retailers need to differentiate and position their store and make decisions regarding their retail marketing mix. Before making those decisions, retailers must first __________.
segment and define their target market
What are the four broad characteristics used to classify retail stores?
Service, product lines, price, and organization