Marketing Ch. 13

Which of the following is a recent trend in​ wholesaling? A. Less distinction between large retailers and large wholesalers B. Less attention to building valuable customer relationships C. Decreasing the services provided to retailers D. Less emphasis on efficiency E. Increased costs due to the use of​ computerized, automated, and​ Internet-based systems

A

In terms of​ location, most stores today cluster together. What is the primary reason for​ this? A. To increase their customer pulling power B. To ensure they all maintain the same profit margin C. To ensure customers will not​ "one-stop" shop D. To achieve common ownership E. To avoid paying taxes

A

What are the four broad characteristics used to classify retail​ stores? A. Service, product​ lines, price, and location B. ​Location, product​ lines, price, and organization C. ​Service, product​ lines, price, and organization D. ​Service, product​ lines, target​ market, and price E. ​Service, location,​ price, and organization

C

​__________ involves focusing the entire marketing process toward turning customers into buyers as they approach the point of sale. A. Wholesaling B. Retail convergence C. Retailing D. Shopper marketing E. ​Full-service retailing

D

One recent retailing trend resulting from economic conditions is​ __________. A. retail convergence B. green retailing C. the rise of megastores D. ​pop-up stores E. tighter consumer spending

E

Which of the following are the largest group of​ wholesalers, accounting for roughly 50 percent of all​ wholesaling? A. Brokers B. ​Manufacturers' agents C. Agents D. ​Manufacturers' representatives E. Merchant wholesalers

E

Which wholesaler channel function helps reduce inventory holding​ costs? A. Buying and assortment building B. Transportation C. Risk bearing D. Financing E. Warehousing

E

​Increasingly, different types of retailers now sell the same products at the same prices to the same consumers. This trend is called​ __________. A. retail convergence B. mobile retailing C. showrooming D. megaretailing E. green retailing

A

Which of the following statements regarding wholesaling is​ correct? A. Wholesalers do not make positioning decisions. B. Wholesalers must make decisions regarding their marketing mix. C. Wholesalers do not need to segment their markets. D. Wholesalers do not need to differentiate themselves. E. Wholesalers do not need to define a target market.

B

Which type of retailer carries narrow product lines with deep assortments within those​ lines? A. Department stores B. Specialty stores C. Superstores D. Convenience stores E. Discount stores

B

Which of the following statements about major retail trends is​ true? A. Retail convergence has decreased competition for retailers. B. The green movement has not yet affected retailing. C. Online buying is growing at a much brisker pace than retail buying as a whole. D. The lifecycle of new retail forms is increasing. E. The global expansion of major retailers into other countries has slowed down.

C

L.L.Bean has turned its flagship store and campus in​ Freeport, Maine into a​ full-fledged outdoor adventure center.​ There, customers can​ hike, kayak, or go seal watching at nearby Cisco Bay. This is an example of​ __________. A. full-service retailing B. a community shopping center C. ​omni-channel retailing D. experiential retailing E. ​one-stop shopping

D

How do brokers and agents differ from merchant​ wholesalers? A. Brokers and agents do not take title and perform a limited number of specialized functions. B. Brokers and agents take title and perform a wide variety of specialized functions. C. Brokers and agents do not take title and generally do not specialize by product line or customer type. D. Brokers and agents take title and generally specialize by product line or customer type. E. Brokers and agents take title and perform a limited number of specialized functions.

A

Recently, superstores that are actually giant specialty​ stores, such as Petco and Home​ Depot, have seen tremendous growth. These types of superstores are called​ __________. A. category killers B. ​off-price retailers C. warehouse clubs D. discount stores E. department stores

A

Retailing today requires​ __________, which means creating a seamless​ cross-channel buying experience that integrates​ in-store, online, and mobile shopping. A. showrooming B. ​full-service retailing C. ​omni-channel retailing D. flash sales E. wholesaling

C

What are the three main types of​ off-price retailers? A. Franchises, factory​ outlets, and warehouse clubs B. Discount​ stores, factory​ outlets, and warehouse clubs C. ​Independents, factory​ outlets, and warehouse clubs D. Discount​ stores, factory​ outlets, and convenience stores E. Discount​ stores, convenience​ stores, and supermarkets

C

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. Higher margins and selling lower volume C. Selling higher volume and having inefficient operations D. Lower margins and selling higher volume E. Lower margins and selling lower volume

D

One new technology being adopted by retailers is​ __________. For​ example, when​ opted-in customers enter a​ store, a signal wakes up an app on their smartphone or​ tablet, which welcomes them and alerts them to​ location-specific rewards and personalized product recommendations within the store. A. beacon technology B. scanners C. RFID D. showrooming E. virtual reality

A

Which of the following statements regarding retailer pricing decisions is​ correct? A. Competition and economic factors do not influence retail pricing decisions. B. All retailers use some type of price promotions. C. Most retailers seek either high markups on lower volume or low markups on higher volume. D. ​High-low pricing is a strategy used by wholesalers when they sell to retailers. E. Everyday low pricing is a strategy that has proven to be ineffective.

C

A cluster of between 15 and 50 retail stores that usually contains a branch of a department store or variety​ store, a​ supermarket, specialty​ stores, professional​ offices, and​ (sometimes) a bank is a​ __________. A. regional shopping mall B. power center C. community shopping center D. lifestyle center E. neighborhood shopping center

C

Retailers must decide on which three major product​ variables? A. Product​ assortment, services​ mix, and location B. Product​ assortment, price, and location C. Product​ assortment, services​ mix, and store atmosphere D. Product​ assortment, store​ atmosphere, and price E. Product​ assortment, services​ mix, and price

C

Which of the following statements regarding green retailing is​ correct? A. Green retailing initiatives extend to helping consumers be more environmentally responsible. B. Green retailing initiatives hurt the bottom line by increasing costs. C. The only current green retailing initiative is to offer environmentally friendly products. D. Green retailing takes place at the store and does not extend to other channel members. E. Retailers today are hesitant to adopt environmentally sustainable practices.

A

Retailers need to differentiate and position their store and make decisions regarding their retail marketing mix. Before making those​ decisions, retailers must first​ __________. A. develop a website B. choose a location C. segment and define their target market D. decide on the store atmosphere E. hire knowledgeable staff

C

Which of the following best reflects the role of retailing in the distribution​ channel? A. All the activities involved when consumers sell to other consumers on auction websites B. All the activities involved in breaking down large volumes of goods for resale to retailers C. All the activities involved in selling products or services directly to final consumers for their​ personal, nonbusiness use D. All the activities involved in selling goods over the Internet E. All the activities involved in selling raw materials to manufacturers

C

Which of the following statements about retailer marketing decisions is​ correct? A. Retailers do not differentiate themselves on their service mix. B. Stores do not need to differentiate and position themselves. C. Many retailers identify three critical factors for retail​ success: location,​ location, and location. D. Most retailers seek either high markups on higher volume or low markups on lower volume. E. Retailers do not have to segment and target their markets.

C