marketing chapter 13

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

Service, product​ lines, price, and organization

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

To increase their customer pulling power

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

Wholesalers must make decisions regarding their marketing mix.

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. showrooming B. RFID C. beacon technology D. scanners E. virtual reality

beacon technology

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

omni-channel retailing

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

segment and define their target market

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

specialty stores

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

tighter consumer spending

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. Lower margins and selling higher volume B. Lower margins and selling lower volume C. Selling higher volume and having inefficient operations D. Operating at a loss and selling higher volume E. Higher margins and selling lower volume

Lower margins and selling higher volume

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

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