Chapter 11

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recent years have seen rapid growth of superstores that are actually giant specialty stores, they are sometimes called

category killers

​Macy's, Kohl's, and JCPenney practice a retailing pricing strategy called​ "high-low pricing." Which of the following correctly describes​ high-low pricing?

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

what are the three critical factors for retail success

location, location, location

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 higher sales volumes

wholesalers must make decisions about

marketing mix

The massive shift in how and where people buy calls for​ __________________________.

massive shifts in how store retailers operate

Focusing the entire marketing process toward turning shoppers into buyers as they approach the point of sale is known as​ ______________________.

shopper marketing

what are the four major classifications of retail organizations

corporate chains, voluntary chains, retailer cooperatives, franchise organizations

Which of the following correctly describes omni-channel retailing?

creating seamless cross-channel buying experience that integrates in-store, online, and mobile shopping

___ is a retailing technique of carefully orchestrating the store's layout and displays, background, music, colors and smells

experiential retailing

Which of the following sets of characteristics correctly classifies retailers

Amount of service offered, the breadth and depth of product lines, relative prices they charge and how they are organized

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?

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

What does the phrase​ "omni-channel buying calls for​ omni-channel retailing" imply for​ retailers?

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

Successful retailers of the future must adopt which type of buying experience that is both seamless and integrates multiple types of​ media?

Social shopping retailing

progressive wholesalers recognize that their only reason for existing is to

add vlaue

retail stores come in all shapes and sizes, and new retail types keep emerging. Strong retailers can be classified as

amount of service product line sold relative prices how they are organized

After segmenting and defining their target​ markets, retailers must then​ ____________________.

decide how they will differentiate and position themselves

What is the overall goal when retailers choose their product​ assortment?

differentiate the retailer while matching target shoppers' expectations

What is an independently owned businesses that take title to all merchandise​handled?

merchant wholesalers

what makes up the retail marketing mix

product and service assortment price promotion location

retailers must decide on which three major product variables

product assortment, service mix, store atmosphere

what is making differentiation difficult

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?

retailing

By performing the channel function of​ ________, wholesalers' sales forces help manufacturers reach many small customers at a low cost.

selling and promoting

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​ ________.

service retailers

___ marketing involves focusing on the entire marketing process on turning shoppers into buyers as they approach the point of sale

shopper marketing

what is not one of the major trends and developments in retailing

social e-tailing

what is retail convergence

the ability of a marketer to establish a relationship with their consumers and persuade them to purchase our products/service by creating engaging omni-channel experiences.

These days, shopper marketing influences consumers' buying decisions and calls for omni-channel retailing, creating seamless cross-channel buying experience that integrates ______ shopping

in-store, online, and mobile


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