Chapter 13
Which of the following describes an off-price retailer?
Buys at less-than-regular wholesale prices and sells at less than retail
Which of the following is a small store, located near a residential area, that is open long hours seven days a week and carries a limited line of high-turnover convenience goods?
Convenience store
By performing the channel function of ________, wholesalers' sales forces help manufacturers reach many small customers at a low cost.
Financing
__________ provide an entire line of services: carrying stock, maintaining a sales force, offering credit, making deliveries, and providing management assistance.
Full-service wholesalers
__________ retailing refers to the creation of a seamless cross-channel buying experience.
Omni-channel
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.
Retailers must decide on which three major product variables?
Product assortment, services mix, and store atmosphere
All the activities involved in selling goods or services directly to final consumers for their personal, nonbusiness use
Retailing
Which of the following is a group of retail businesses built on a site that is planned, developed, owned, and managed as a unit?
Shopping center
Which of the following describes wholesale merchants?
They sell primarily to retailers and provide a full range of services.
Which of the following is a wholesaler-sponsored group of independent retailers engaged in group buying and merchandising?
Voluntary chain
__________ is an example of a discount store.
Walmart
Which wholesaler channel function helps reduce inventory holding costs and the risks of suppliers and customers?
Warehousing
__________ sell primarily to retailers and provide a full range of services.
Wholesale merchants
Which of the following statements about wholesaling is true?
Wholesalers must make decisions regarding their marketing mix.
two or more outlets that are commonly owned and controlled
corporate chain
By practicing ________, today's retailers are increasingly adopting environmentally sustainable practices.
green retailing
Deciding on store atmosphere is a major part of a product variable, and is an example of a __________.
product assortment and services decision
Wholesalers add customer value through the __________ they offer.
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 ________.
retail convergence
A __________ is a group of independent retailers who jointly establish a central buying organization and conduct joint promotion efforts.
retailer cooperative
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.
retailer cooperative
_______ involves focusing the entire marketing process toward turning shoppers into buyers as they approach the point of sale.
shopper marketing
A __________ is a large, low-cost, low-margin, high-volume, self-service store that carries a wide variety of grocery and household products.
supermarket
A retail trend resulting from weak economic conditions is ________.
tighter consumer spending
Which of the following describes promotion decisions?
Advertising, personal selling, sales promotion, public relations, and direct marketing
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.
__________ are huge unenclosed shopping centers consisting of a long strip of retail stores including freestanding anchor stores.
Power centers
The retail marketing mix consists of which of the following?
Product and service assortment, retail prices, promotion, and place Your answer is correct.
________ carry narrow product lines with deep assortments within those lines.
Specialty stores
Supermarket
a large, low-cost, low-margin, high-volume, self-service store that carries a wide variety of grocery and household products
L.L. Bean has turned its flagship store into a full-fledged outdoor adventure center, which is an example of __________.
experiential retailing
Tiffany and Neiman Marcus are classified as __________ retailers.
full-service
Limited-service wholesalers __________.
offer fewer services than other wholesalers
Industrial distributors __________.
sell to manufacturers rather than to retailers
What is the name for the shopping practice of coming into retail stores to check out merchandise and prices but instead buying from an online-only rival?
Showrooming
Which one of the following statements does NOT portray the success of global expansion of major retailers?
Adapting the operations that work well in the home country create success abroad.
__________ have shifted the balance of power between retailers and producers.
Megaretailers
________ are the largest single group of wholesalers, accounting for roughly 50% of all wholesaling.
Merchant Wholesalers
__________ are the largest single group of wholesalers.
Merchant wholesalers
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.
community shopping center
