Marketing ch 13

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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 about retailer marketing decisions is​ correct?

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

Which of the following statements about major retail trends is​ true?

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

How do brokers and agents differ from merchant​ wholesalers?

Brokers and agents do not take title and perform a limited number of specialized functions.

Which of the following are the largest group of​ wholesalers, accounting for roughly 50 percent of all​ wholesaling?

Merchant wholesalers

Which of the following statements regarding wholesaling is​ correct?

Wholesalers must make decisions regarding their marketing mix.

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.

beacon technology

Recently, superstores that are actually giant specialty​ stores, such as Petco and Home​ Depot, have seen tremendous growth. These types of superstores are called​ __________.

category killers

A cluster of between 15 and 50 retail stores that usually contains a branch of a department store or variety​ store, a​ supermarket, specialty​ stores, professional​ offices, and​ (sometimes) a bank is a​ __________.

community shopping center

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

Which of the following statements regarding green retailing is​ correct?

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

Which of the following is a recent trend in​ wholesaling?

Less distinction between large retailers and large wholesalers

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

What are the four broad characteristics used to classify retail​ stores?

Service, product​ lines, price, and organization

Which type of retailer carries narrow product lines with deep assortments within those​ lines?

Specialty stores

In terms of​ location, most stores today cluster together. What is the primary reason for​ this?

To increase their customer pulling power

Which wholesaler channel function helps reduce inventory holding​ costs?

Warehousing

L.L.Bean has turned its flagship store and campus in​ Freeport, Maine into a​ full-fledged outdoor adventure center.​ There, customers can​ hike, kayak, or go seal watching at nearby Cisco Bay. This is an example of​ __________.

experiential retailing

Retailing today requires​ __________, which means creating a seamless​ cross-channel buying experience that integrates​ in-store, online, and mobile shopping.

omni-channel retailing

One recent retailing trend resulting from economic conditions is​ __________.

tighter consumer spending

What are the three main types of​ off-price retailers?

​Independents, factory​ outlets, and warehouse clubs

Which of the following best reflects the role of retailing in the distribution​ channel?

All the activities involved in selling products or services directly to final consumers for their​ personal, nonbusiness use

__________ involves focusing the entire marketing process toward turning customers into buyers as they approach the point of sale.

Shopper marketing


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