BUSML 3150 Chapter 11
Because today's consumers shift seamlessly across channels, many online retailers, including Amazon, are moving _________.
Into the physical world
Which of the following is NOT a major recent trend in retailing?
Less frugal consumer spending
The online and mobile equivalent of pop-ups is ________.
Online flash sales
What are the three major product variables retailers must decide on?
Product assortment, services mix, and store atmosphere
The trend of ________ has resulted in different types of retailers now selling the same products at the same prices to the same consumers.
Retail convergence
Guided by __________, retailers must decide on a retail marketing mix—product and services assortment, price, promotion, and place.
Strong targeting and positioning
A(n) ________ is a large, low-cost, low-margin, high-volume, self-service store that carries a wide variety of grocery and household products.
Supermarket
Attracting and holding customers presents great challenges and decision points for retailers. Of the following, which is NOT one of the areas in which they face major decisions?
The type of wholesaling to use
Progressive wholesalers constantly watch for better ways to meet the changing needs of _________.
Their suppliers and target customers
Which wholesaler channel function helps reduce inventory holding costs and the risks of suppliers and customers?
Warehousing
It is important that retailers select locations that are accessible to the target market in areas that are consistent with the ___________.
Retailer's positioning
In the long run, the only reason for a wholesaler to exist is to ________ by increasing the efficiency and effectiveness of the entire marketing channel.
Add value
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 Sherwin-Williams Color Visualizer app lets you "Color It Before You Paint It!" by uploading actual room images and painting them virtually. This is an example of which advance in retail technology?
Augmented reality
Omni-channel retailing goes beyond just helping in-store customers as they cross-shop on mobile devices and requires ____________.
Carefully integrating the entire range of available shopping channels
New retail forms continue to emerge. However, different types of retailers are increasingly serving similar customers with the same products and prices (retail convergence), making __________ more difficult.
Differentiation
By practicing ________, today's retailers are increasingly adopting environmentally sustainable practices.
Green retailing
Which wholesaler channel function helps customers save money by buying in truckload lots?
Bulk breaking
Recent years have seen the rapid growth of superstores that are actually giant specialty stores; they are sometimes called _________.
Category killers
Which of the following statements about omni-channel buyers is NOT correct?
They do not need the bricks-and-mortar environment in which to shop.
________ involves creating a seamless buying experience that integrates in-store, online, and mobile shopping.
Omni-channel marketing
The three major groups of wholesalers are ________.
Merchant wholesalers, brokers and agents, and manufacturers' and retailers' branches and offices
Many marketers are now embracing the concept of ________, which focuses the entire marketing process toward turning shoppers into buyers as they move along toward the point of sale.
Shopper marketing
Which statement regarding price decisions is true?
A retailer's price policy must fit its target market and positioning, product and service assortment, the competition, and economic factors.