Chapter 13
__________ have shifted the balance of power between retailers and producers. A. Green retailing B. Showrooms C. Pop-up stores D. Megaretailers E. Omni-channel retailing
Megaretailers
________ are the largest single group of wholesalers, accounting for roughly 50% of all wholesaling. A. Brokers B. Manufacturers' agents C. Agents D. Manufacturers' representatives E. Merchant wholesalers
Merchant wholesalers
Retailers must decide on which three major product variables? A. Product assortment, price, and location B. Product assortment, services mix, and price C. Product assortment, store atmosphere, and price D. Product assortment, services mix, and store atmosphere E. Product assortment, services mix, and location
Product assortment, services mix, and store atmosphere
_______ involves focusing the entire marketing process toward turning shoppers into buyers as they approach the point of sale. A. Omnichannel buying B. Full-service retailing C. Retailing D. Wholesaling E. Shopper marketing
Shopper marketing
Tiffany and Neiman Marcus are classified as __________ retailers. A. full-service B. omni-channel C. service D. limited-service E. self-service
full-service
By practicing ________, today's retailers are increasingly adopting environmentally sustainable practices. A. megaretailing B. social media retailing C. retail convergence D. green retailing E. mobile retailing
green retailing
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? A. Operating at a loss and selling higher volume B. Lower margins and selling higher volume C. Selling higher volume and having inefficient operations D. Higher margins and selling lower volume E. Lower margins and selling lower volume
Lower margins and selling higher volume
Which of the following statements about retailer marketing decisions is correct? A. Stores do not need to differentiate and position themselves. B. Retailers do not differentiate themselves on their service mix. C. Retailers do not have to segment and target their markets. D. Most retailers seek either high markups on higher volume or low markups on lower volume. E. Many retailers identify three critical factors for retail success: location, location, and location.
Many retailers identify three critical factors for retail success: location, location, and location.
__________ retailing refers to the creation of a seamless cross-channel buying experience. A. Limited-service B. Full-service C. Self-service D. Service E. Omni-channel
Omni-channel
Which of the following statements about major retail trends is true? A. Online buying is growing at a much brisker pace than retail buying as a whole. B. The global expansion of major retailers into other countries has slowed down. C. Retail convergence has decreased competition for retailers. D. The lifecycle of new retail forms is increasing. E. The green movement has not yet affected retailing.
Online buying is growing at a much brisker pace than retail buying as a whole
__________ are huge unenclosed shopping centers consisting of a long strip of retail stores including freestanding anchor stores. A. Community shopping centers B. Regional shopping centers C.Neighborhood shopping centers D. Power centers E. Lifestyle centers
Power centers
________ carry narrow product lines with deep assortments within those lines. A. Superstores B. Convenience stores C. Discount stores D. Department stores E. Specialty stores
Specialty stores
Which wholesaler channel function helps reduce inventory holding costs and the risks of suppliers and customers? A. Risk bearing B. Buying and assortment building C. Warehousing D. Transportation E. Financing
Warehousing
Which of the following statements about wholesaling is true? A. Wholesalers do not need to define a target market. B. Wholesalers do not need to differentiate themselves. C. Wholesalers do not make positioning decisions. D. Wholesalers do not need to segment their markets. E. Wholesalers must make decisions regarding their marketing mix.
Wholesalers must make decisions regarding their marketing mix
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. A. lifestyle center B. neighborhood shopping center C. power center D. community shopping center E. regional shopping mall
community shopping center
L.L. Bean has turned its flagship store into a full-fledged outdoor adventure center, which is an example of __________. A. experiential retailing B. services mix C. price decision D. targeting decision E. segmentation decision
experiential retailing
Wholesalers add customer value through the __________ they offer. A. products and services B. location C. price D. promotion E. distribution
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 ________. A. green retailing B. pop-up stores C. retail convergence D. megaretailing E. social media retailing
retail convergence
A retail trend resulting from weak economic conditions is ________. A. pop-up stores B. the rise of megaretailers C. the growth of social media retailing D. green retailing E. tighter consumer spending
tighter consumer spending
The retail marketing mix consists of which of the following? A. Product and service assortment, retail prices, promotion, and retail targeting B. Product and service assortment, retail prices, promotion, and retail segmentation C. Product and service assortment, retail prices, promotion, and store positioning D. Product and service assortment, retail prices, promotion, and place E. Product and service assortment, retail prices, promotion, and store differentiation
Product and service assortment, retail prices, promotion, and place
By performing the channel function of ________, wholesalers' sales forces help manufacturers reach many small customers at a low cost. A. bulk-breaking B. buying and assortment building C. financing D. selling and promoting E. risk bearing
financing
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. A. franchise organization B. retailer cooperative C. voluntary chain D. corporate chain E. warehouse club
retailer cooperative
Which one of the following statements does NOT portray the success of global expansion of major retailers? A. Retailers with unique formats and strong brand positions are increasingly moving into other countries. B. Adapting the operations that work well in the home country create success abroad. C. Retailers can face dramatically different retail environments when crossing countries, continents, and cultures. D. Many retailers are expanding internationally to escape saturated home markets. E. International retailing presents challenges as well as opportunities.
Adapting the operations that work well in the home country create success abroad
__________ are the largest single group of wholesalers. A. Merchant wholesalers B. Manufacturers' branches C. Retailers' branches D. Brokers E. Agents
Merchant wholesalers