IBM (Chapter 17 Connect Assignment(Done!))

If a manufacturer is currently working with a retailer in determining how they will implement the four Ps, which factor is the manufacturer most likely examining? a. Identifying types of retailers b. Developing retail strategy c. Choosing retail partners d. Managing a multichannel approach

Developing retail strategy

____ reduction refers to the phenomenon where consumers make purchases in physical stores and feel more confident about the purchase.

Risk

Engaging in exclusive brands is often beneficial for a retailer. Which of the following is NOT reason why co-brands are often beneficial for the retailer? a. Brands take up less inventory space within the store. b. Brands are exclusive to that one retailer only. c. Brands can create a competitive advantage for the retailer over other retailers. d. Brands offer name recognition similar to a national brand.

a. Brands take up less inventory space within the store.

While some customers can surf the Web and look through catalogs to find potential items to purchase, many consumers still prefer to visit stores to find out what is available by viewing the available merchandise. Which benefit of retail stores does this describe? a. Browsing b. Immediate gratification c. Entertainment and social experience d. Personalization

a. Browsing

Which of these statements best describes the relationship wholesalers have with manufacturers and retailers? a. Buys from manufacturer then resells to retailers or business users. b. Buys from retailers or business users then resells to consumers c. Buys from manufacturer then resells to other manufacturers d. Buys from retailers or business user then sells back to manufacturers

a. Buys from manufacturer then resells to retailers or business users.

Which of the following retailers is NOT a name for a discount store that offers a narrow but deep assortment of merchandise? a. Drugstores b. Category killers c. Big box retailers d. Category specialist

a. Drugstores

Aldi is a type of supermarket that voluntarily chooses to only offer one or two brands and sizes (one of which is always a store brand) in order to maximize efficiency and reduce costs. What type of supermarket is this called? a. Limited assortment supermarket b. Limited value food retailer c. Expanded assortment supermarket d. Conventional supermarket

a. Limited assortment supermarket

When a consumer is in a jewelry store and gets help from the retailer on differentiating between different types of necklaces, this exemplifies which of the following benefits exclusive to using the store channel? a. Personal service b. Browsing c. Touching and feeling

a. Personal service

Match the type of personalization with the way in which it is typically implemented within the Internet channel. Providing help in the form of FAQs, 800 numbers, or online chats. a. Personalized customer service b. Personalized offerings

a. Personalized customer service

when a retailer develops and markets a product that is available for the consumer to purchase from only that retailer, the retailer has made which of the following types of brands? a. Private-label b. Generic-label c. Public-label d. Label-free

a. Private-label

Conventional supermarket are experiencing increasing competitive pressure from other types of food retailers. Which of the following are ways in which conventional supermarkets have responded to this pressure? (select all that apply) a. Providing local produce b. Improving the in-store experience c. Increasing offerings of organic foods d. Reducing the number of private label brands

a. Providing local produce b. Improving the in-store experience c. Increasing offerings of organic foods

Sephora is a leading perfume and cosmetic store chain that only sells merchandise in this narrow area but has a deep assortment of various cosmetics. This is characteristic of wha type of retailer? a. Specialty store b. Extreme value retailer c. Full-line discount store d. Convenience store

a. Specialty store

Which type of store tailors its retail strategy toward very specific market segments by offering deep but narrow assortment and sales associate expertise? a. Specialty stores b. Drugstores c. Full-line discount stores d. Convenience stores

a. Specialty stores

There are two primary reasons firms elect to use online chats over methods such as online FAQs or automated 800 numbers when providing customer service. One reason is that it addresses specific questions that may not be answered on a traditional FAQ or non-interactive help source. What does this second aspect of online chat refer to? a. The personalization of answers to questions. b. The cost effectiveness for the firm. c. The timeliness in which answers are met.

a. The personalization of answers to questions.

Which of the following refers to a food retailer that is very large in size and offers a limited and irregular assortment of food and general merchandise with little service at low prices? People that shop there tend to be consumers who prefer buying food in bulk or even small businesses. a. Warehouse club b. Supercenter c. Limited assortment supermarket d. Convential supermarket

a. Warehouse club

A brand developed by a national brand vendor that is offered in conjunction with and exclusively by a retailer, for example Ecco shoes making special ECCO styles carried only by Macy's, is known as: a. an exclusive co-brand b. a premium brand c. a copycat brand d. a private-label brand

a. an exclusive co-brand

The overall "look and feel" of a store can have a powerful influence on consumers, just as more tangible promotions do (such as in-store displays). Subtle elements that make up a store's "look and feel" include music, color, scent, and ____. a. crowding b. prices c. displays d. products

a. crowding

A disadvantage of engaging in co-brands for the retailer is that the profit now needs to be shared with the ____. a. manufacturer b. consumer c. competitor d. distributor

a. manufacturer

Imagine if Microsoft conducted a seminar with Best Buy employees on how to work within the latest version of the Windows operating system. This would be example of the ____ educating the ____ on how to use and consequently sell its new product. a. manufacturer; retailer b. consumer; retailer c. retailer; manufacturer d. retailer; consumer

a. manufacturer; retailer

When you go on Amazon.com and notice a section of recommended items that you might like on the page, this is an example of a(n) ____ offering derived from your past purchases. a. personalized b. anonymous c. standardized d. impersonalized

a. personalized

A manufacturer will seek out partnerships with ____ who will sell the manufacturer's products and/or services to consumers. a. retailers b. distributors c. wholesalers

a. retailers

One of the reasons that manufacturers and retailers make such great partners is that retailers are able to provide a ____ benefit to manufacturers by taking on large amounts of inventory that would otherwise be held up in a manufacturer's warehouse. a. storage b. price c. product d. cost

a. storage

Drugstores, like all retailers, experience a great deal of competition from other types of stores. As a result, drugstores have taken a number of steps to remain competitive. Which of the following is NOT an action taken by drugstore to remain competitive? a. Offering drive-through windows b. Charging less for prescriptions c. Offering a wiser assortment of merchandise d. Prices are at par with convenience stores

b. Charging less for prescriptions

If a manufacturer selling hammer is trying to decide whether or not it should conduct business with Walmart and Home Depot, which step in this framework does this represent? a. Identifying types of retailers b. Choosing retail partners c. Facilitating retail strategy d. Managing a multichannel strategy

b. Choosing a retail partners

Which of the following is a self-service food store that offers a wide range of groceries, meat, and produce with only a limited assortment of nonfood items such as health and beauty aids? a. Limited assortment supermarket b. Conventional supermarket c. Extreme value food retailer d. Flea market

b. Conventional supermarket

____ advertising is when a manufacturer and retailer work together to deliver an advertising message to the target market. a. Expanded b. Cooperative c. Selective d. Syndicated e. Pull

b. Cooperative

____ is a major benefit to using the Internet channel and refers to the ability to tailor the information for each customer economically. a. Anonymity b. Customization c. Personalization d. Standardization

b. Customization c. Personalization

Most of the time shopping online can be beneficial for a number of reasons. Please select ALL of the following for it being advantageous over traditional store channels. a. Faster delivery b. Easier to search for specific items c. More information d. Broader selection

b. Easier to search for specific items c. More information d. Broader selection

While consumer could do most of their shopping using the Internet or catalogs, part of the allure of using the store channel to shop is that is allows consumers to talk to others. This is a function of what type of experience? a. Personal experience b. Entertainment experience c. Social experience

b. Entertainment experience c. Social experience

True or false: Service retailers, who sell services rather than merchandise, are a small and shrinking retail sector. a. True b. False

b. False

Consumer like being to use the store channel because they can instantly hold and use whatever product they purchased. This refers to what benefit of using the store channel to shop? a. Personal service b. Immediate gratification c. Risk reduction

b. Immediate gratification

Retail representatives also contribute to the overall promotional package of a retailing outlet. Which of the functions listed below does NOT accurately reflect the duties of a retail representative in promoting the store? a. Personal selling b. Inventory management c. Customer service d. Providing information

b. Inventory mangement

The business activities associated with retailing involve both products and services. Which of the following is NOT a venue where retailing occurs? a. Retailing store b. Manufacturer's warehouse c. An Internet web page d. Catalog

b. Manufacturer's warehouse

Match the type of personalization with the way in which it is typically implemented within the Internet channel. Creates individualized web pages for each consumer based on their prior history, which is typically derived from past purchases. a. Personalized customer service b. Personalized offerings

b. Personalized offerings

____ is important for the manufacturer and retailer to consider when determining how to position and value a brand and the products that fall under the brand. a. Place b. Price c. Promotion

b. Price

If a manufacturer instructs a retailer on how to use a newly released product, this would be an example of the manufacturer getting involved with which of the following four Ps? a. Product b. Promotion c. Price d. Place

b. Promotion

Which of the following refers to a set of business activities that add value to products and services sold to consumers for their personal or family use? a. Manufacturing b. Retailing c. Distributing d. Wholesaling

b. Retailing

Which of the following firms would NOT be a good candidate for adding an electronic channel as means to expanding its market presence? a. Harrod's Department Store b. IKEA c. Small Town Chocolates d. Neiman Marcus

b. Small Town chocolates

Which of the following is not a type of retailer that falls under the general merchandise retailing category? a. Home improvement centers b. Wholesaler c. Department d. Off-price

b. Wholesaler

One of the retailers' most fundamental activities in fulfilling the needs of the target market is to provide the ideal blend of ____ and ____. a. service; support b. merchandise; service c. labor; service d. merchandise; disservice

b. merchandise; service

Channel ____ refers to the way in which a manufacturer gets its products to the retailer('s) channels. a. synthesis b. structure c. proliferation d. placement

b. structure

If a consumer were to plan on purchasing food in bulk, the ideal type of retailer would be a ____ club. By contract, when a consumer plans on purchasing just a small snack on the go, the ideal type of retailer would be a ____ retailer. a. warehouse; supercenter b. warehouse; convenience c. convenience; supermarket d. convenience; warehouse

b. warehouse convenience

Which of the following refers to a small food retailer with a limited variety and assortment of merchandise at a nearby location with a speedy checkout? a. Warehouse clubs b. Conventional supermarket c. Convenience stores d. Supercenters

c. Convenience stores

Which of the following terms refers to the number of channel members used at each level of the marketing channel? a. Marketing consistency b. Consumption tiers c. Distribution intensity d. Channeling frequency

c. Distribution intensity

Which of the following stores has over half of its sales coming from pharmaceuticals? a. Specialty stores b. Convenience stores c. Drugstores d. Warehouse clubs

c. Drugstroes

Full-line discount, specialty, department, and off-price are all types of retailers that fall under which broad retailing category? a. Sports and athletics b. Food and dining c. General merchandise d. Electronics and software

c. General merchandise

Amazon.com is an Internet channel that consumers use to purchase a wide variety of products. Which of the following aspects of Amazon.com represents the BEST advantage it has over the store and channel? a. Less transaction time b. Easier to touch and try the merchandise c. Greater personalized information d. Less information about the product

c. Greater personalized information

What is the correct term for when a manufacturer or retailer sells in more than one channel? a. Unichannel strategy b. Polytomous marketing c. Omnichannel strategy d. Multimedia strategy

c. Omnichannel strategy

As a retailer, knowing whether to charge Y or Z for a given product reflects proficiency in which of the following four Ps? a. Product b. Promotion c. Price d. Place

c. Price

Limited assortment supermarkets are able to offer their merchandise at 40% to 60% lower prices than conventional supermarkets buy cutting costs in certain ways. Which of the following is NOT a cost-cutting technique typically used by these types of supermarkets? a. Charging customers for grocery bags at checkout b. Not allowing customer to pay with credit cards c. Provide a better overall atmosphere, demonstrations, and fun, as Adding Value. d. Operating within low-rent buildings

c. Provide a better overall atmosphere, demonstrations, and fun, as Adding Value.

Which of the following statements best describes the relationship between manufacturers and big retailers like Home Depot and Walmart with regards to product decision making? a. The manufacturer and retailer become a moot point when compared to the wholesaler in terms of determining product decision making. b. It is an equal partnership between the manufacturer and retailer with regard to product decision making. c. Retailer have a big say in product decision making. d. Manufacturers determine everything with regard to decision making.

c. Retailer have a big say in product decision making.

When using all five senses (touching, smelling, tasting, seeing, and hearing) to examine products, consumers are engaging in what specific type of browsing? a. Touching and personalizing b. Five-Finger discounting c. Touching and feeling d. Feeling and buying

c. Touching and feeling

Customers do not expect ____ products in full-line discount stores. a. lower-end b. popular c. higher-end d. reliable

c. higher-end

When a firm offers to directly answer a question from a consumer using its Web page, this is known as an ____ ____, a timely and direct type of personalized customer service. a. interactive pop up b. online barter c. online chat d. interactive probing

c. online chat

While shopping on the Internet, consumers are typically only able to use a credit card or a check for payment. However, at a physical store, consumers are able to use credit cards, checks and ____ for payment.

cash

Some of the actions that ____ stores are taking to remain competitive include decreasing their dependency on gasoline sales, offering fresh food and healthy fast food, and opening smaller stores closer to where consumer shop and work.

convenience

MAC, a brand of makeup produced by Estee Lauder, sells through their own retail outlets. Therefore, whenever a new MAC product is made it will automatically be brought into Estee Lauder retailing outlets. Which type of channel structure does this setup represent? a. Corporate horizontal marketing system b. Corporate vertical production setup c. Corporate horizontal production setup d. Corporate vertical marketing system

d. Corporate vertical marketing system

The diagram highlight the retailer partners of Estee Lauder and Nars. These manufacturers will work with different retailers depending on where their target consumer expect to find their products. What does this process refer to? a. Consumer aspirations b. Retailer expectations c. Manufacturer aspirations d. Customer expectations

d. Customer expectations

If a manufacturer is trying to determine in what circumstances it may prefer to use a certain channel for selling a product, which factor are they most likely examining? a. Identifying types of retailers b. Choosing retail partners c. Facilitating retail strategy d. Managing a multichannel approach

d. Managing a multichannel approach

To stay competitive with other types of food retailers, conventional supermarkets have employed a number of different strategies. Which of the following is NOT a strategy that conventional supermarkets have adopted? a. Emphasize fresh perishables b. Target health-conscious and ethnic consumers c. Provide a better overall in-store experience d. Offer more national brands

d. Offer more national brands

If a manufacturer instructs a retailer on how to use a newly released product, this would be an example of the manufacturer getting involved with which of the following four Ps? a. Place b. Price c. Product d. Promotion

d. Promotion

Category specialist are also called category ____ because of their ability to offer a complete assortment in a category at somewhat lower prices than competition, from say a full-line discount store. a. beaters b. revitalizer c. finishers d. killers

d. killers

Generally, the ____ and more sophisticated a firm is, the ____ likely it will be to use supply chain intermediaries. a. larger; more b. smaller; less c. smaller; more d. larger; less

d. larger; less

By developing strong relationships with customers, retailers can create ____ customers and programs that are critical for successful store promotion. a. profitable b. satisfied c. frequent d. loyal e. extravagant

d. loyal

Retailing that takes place through mobile devices is called ____. a. broadband retailing b. r-commerce c. mobi-tailing d. m-commerce e. p-commerce

d. m-commerce

When retailers work together with their ____ they are able to develop a brand that is exclusive brand. a. consumers b. distributors c. competitors d. suppliers

d. suppliers

Macy's Sears, JCPenny, and Kohl's are all examples of general merchandise retailers known as ____ stores that carry a broad variety and deep assortment of products and customer service.

department

If Ford allows only one retailer or dealer in a given territory the ability to sell its particular brand, it is using a(n) ____ distribution strategy.

exclusive

One way to facilitate smart retail strategy is to use the ____ Ps.

four

An ____ distribution strategy is when the goal is to get the manufacturer's products into as many different outlets as possible.

intensive

One strategy Starbucks uses is strategically opening stores in areas where competing coffeeshops would have little chance of staying competitive with Starbucks. What Starbucks is then essentially doing is saturating the market, a strategy that falls under ____ within the four Ps framework.

place

An off-____ retailer is one that offers an inconsistent, often unpredictable, assortment of brand name merchandise at low prices.

price

One consideration in retail strategy is trying to figure out what to charge a customer for a given brand within a product category. This consideration refers to ____, one of the elements of the four Ps framework.

price

When a retailer advertises using traditional media such as newspaper, magazines, and television, the retailer is using ____, one of the four Ps.

promotion

The biggest thing a manufacturer will look for when deciding on a ____ partner is whether or not their customer matches the manufacturer's target market.

retail

Between the intensive and exclusive distribution strategies lies ____ distribution, which uses a few selected retailers in a territory.

selective

A ____ is a type of food retailer consisting of a large supermarket in addition to a full-line discount store. Its intention is to be a one-stop shopping experience for consumers.

supercenters

An extreme ____ retailer refers to a small full-line discount store that offers a limited merchandise assortment at very low prices, often as low no more than one dollar per item.

value

Share of ____ refers to the percentage of a customer's purchase made from a particular retailer.

wallet