MKT 13, 17
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 form of marketing involves engaging directly with carefully targeted individual consumers and customer communities to both obtain an immediate response and build lasting customer relationships?
Direct and digital marketing
Direct mail is well suited for which of the following?
Direct, one-to-one communications
What are the two main forms of online advertising?
Display ads and search-related ads
Which of these represents an online social media platform?
Which of the following statements regarding green retailing is correct?
Green retailing initiatives extend to helping consumers be more environmentally responsible.
According to the text, what is the toughest public policy issue now confronting the direct marketing industry?
Invasion of privacy
Many consumers today rent DVDs from a vending machine called Redbox that can be found in retail stores and other locations. Redbox is which type of direct marketing tool?
Kiosk
Which of the following is a recent trend in wholesaling?
Less distinction between large retailers and large wholesalers
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.
Which of the following correctly identifies forms of digital direct marketing?
Online marketing, social media marketing, and mobile marketing
What are the four broad characteristics used to classify retail stores?
Service, product lines, price, and organization
What is the digital version of word-of-mouth marketing?
Viral marketing
Which wholesaler channel function helps reduce inventory holding costs?
Warehousing
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
Stockturn rate
cost of goods sold/avg stock; higher is better
The fastest growing form of marketing is __________.
direct and digital marketing
Buyers have increased their use of direct and digital marketing because they are __________.
easy to use, convenient, and private
Social media is ideal for starting and participating in customer conversations and listening to customer feedback. This is because social media is __________.
interactive
One drawback to viral marketing is that __________.
marketers cannot control where users pass along the message
Walmart, Target, Macy's, and other major retailers offer handy ________ that pull customers to both their websites and stores.
mobile apps
Consumers may receive an email, supposedly from their bank or credit card company, saying that their account's security has been compromised. The sender asks them to log on to a provided web address and confirm their account and other personal information and then steals this private information. This is a fraudulent practice called __________.
phishing
Omni-channel retailers are those who ________.
successfully merge the virtual and physical worlds
One recent retailing trend resulting from economic conditions is __________.
tighter consumer spending
A marketing website should be easy to use and visually appealing. To be effective, these websites must also be __________.
useful
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
Which of the following is a potential disadvantage to using blogs for marketing?
Blogs are a user-controlled medium.
According to the text, what can be the ultimate direct marketing medium, assuming it is used correctly?
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 are the largest group of wholesalers, accounting for roughly 50 percent of all wholesaling?
Merchant wholesalers
Which of the following would be best suited for marketers to engage customers anywhere and at any time during the buying and relationship-building processes?
Mobile marketing
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.
Which of the following statements regarding catalog marketing is correct?
Printed catalogs can drive online and mobile sales.
Retailers must decide on which three major product variables?
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.
Shopper marketing
Which of the following statements regarding mobile marketing is correct?
Smartphones can be very useful in shopping situations.
Which of the following is a challenge to marketers regarding their use of social media?
Social networks are largely user controlled.
Which type of retailer carries narrow product lines with deep assortments within those lines?
Specialty stores
What is meant by the term "the Internet of Things" (IoT)?
That everyone and everything may soon be connected digitally
In terms of location, most stores today cluster together. What is the primary reason for this?
To increase their customer pulling power
Many company websites are now designed to do more than just sell product. These websites, known as __________ websites, attempt to build closer customer relationships and generate engagement with and between the brand and its customers.
brand community
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
Omni-channel retailing includes all of the following EXCEPT ________.
changing only the in-store product mix
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
Adidas' Fifth Avenue emporium showcases an adidas design concept that mimics a sports arena. Customers enter through a tunnel-like entrance, climb cement stairs to reach different floors, sit on bleachers to watch games broadcast live on large screens, and pay for their purchases at stations designed to look like ticket booths. The store features a miniature running track where customers can take a test run or get their stride analyzed to ensure they're buying the right shoe. This is an example of __________.
experiential retailing
Foot Locker has mastered online and mobile efforts that link seamlessly with store operations, offering options such as "buy online, ship from store" and "buy online, reserve in store" for pickup. This is an example of ________.
omni-channel retailing
To avoid being intrusive and annoying, most legitimate email marketers practice __________, which means sending email pitches only to customers who "opt in."
permission based email marketing
Digital marketing can link brands to important moments in customer's lives. This aspect of digital marketing is called __________.
real-time marketing
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 three main types of off-price retailers?
Independents, factory outlets, and warehouse clubs
Which of the following correctly identifies what direct and digital marketing offer sellers?
Inexpensive, efficient, and fast
Retailing today requires __________, which means creating a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping.
omni-channel retailing