MAR 301 Final Ch 11

After segmenting and defining their target​ markets, what should retailers do​ next?

Decide how they will differentiate and position themselves in the market.

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

Differentiate the retailer while matching target​ shoppers' expectations.

Which of the following statements about retailer marketing decisions is​ correct?

Many retailers identify three critical factors for retail​ success: location,​ location, and location.

Superstores that are actually giant specialty stores and have seen tremendous growth recently are called​ _______.

category killers

​Macy's carries several product lines—typically ​clothing, home​ furnishings, and household goods—with each line operating as a separate department managed by specialist buyers or merchandisers.​ Macy's is best described as​ a(n) ________.

department store

Carefully orchestrating the​ store's layout and​ displays, background​ music, colors, and smells is related to​ ________.

experiential retailing

By practicing​ ______ retailing,​ today's retailers are increasingly adopting environmentally sustainable practices.

green

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 volume

​Increasingly, different types of retailers now sell the same products at the same prices to the same consumers. This trend is called​ ___________.

retail convergence

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

The practice of coming into retail stores to check out merchandise and prices but making purchases online using a computer or mobile device is called​ _______.

showrooming

One retail trend resulting from economic conditions is​ ________.

tighter consumer spending

Which of the following correctly describes the retail practice known as​ high-low pricing?

​High-low pricing means charging higher prices on an everyday​ basis, coupled with frequent sales and other price promotions.

What are the four major types of retail​ organization?

Corporate​ chains, voluntary​ chains, retailer​ cooperatives, and franchise organizations.

​___________ are the largest single group of​ wholesalers, accounting for roughly 50 percent of all wholesaling.

Merchant wholesalers

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.

The retail marketing mix consists of which of the​ following?

Product and service​ assortment, retail​ prices, promotion, and location

Retailers must decide on which three major product​ variables?

Product​ assortment, services​ mix, and store atmosphere

​________ refers to the activities involved in selling products or services directly to final consumers for their​ personal, nonbusiness use.

Retailing

​_______ involves focusing the entire marketing process toward turning shoppers into buyers as they approach the point of sale.

Shopper marketing

Which type of retailer carries a narrow product line with deep assortments within those​ lines?

Specialty stores

Which of the following statements about shopping centers is​ correct?

The most common type of shopping center is a strip mall.

Which wholesaler channel function helps reduce inventory holding costs and the risks of suppliers and​ customers?

Warehousing

Which of the following statements about wholesaling is​ true?

Wholesalers must make decisions regarding their marketing mix.