Exam 16: Retailing and Direct Marketing

Which elements of retail strategy would be most important for a company that has just decided to construct a brick-and-mortar storefront?

How are retailers classified on the basis of services provided? Give an example for each group.

Historically, customers visited brick-and-mortar locations to:

Other things being equal, stores that offer more services charge smaller markups to cover their costs.

​Developing a customer service strategy for your sporting goods store, you know that services can add value to the shopping experience. Your business partner agrees, but makes a comment that shows he doesn't really understand this type of strategy. Identify his comment.

The largest retailers in the United States are significant because:

The ability to send messages quickly and achieve intensive coverage are advantages to using:

The new CEO of a struggling cell phone service provider is trying to revitalize the company by revamping its business strategy. The CEO surveys the current service provider market and sees that there are a few large companies with similar business models: customers are required to choose from a limited number of plans, and are then locked into those plans for at least two years by contract. In order to even enter into a contract with the service provider, the customer must have proof of a steady income and be able to pass a credit check. The CEO sees that many individuals in the 15 to 24-year-old age bracket cannot meet these standards and are not being served by the larger companies. She decides to make her company unique by offering no-contract, pay-as-you-go cell phone service. Customers do not need to pass a credit check or provide proof of income in order to sign up for service, and can discontinue service at any time. ​ According to this scenario and your knowledge of marketing strategies, which statement best explains the new CEO's actions?

Touchstone Crystal by Swarovski sells their jewelry through consultants and at-home parties. This is an example of:

Frequent buyer rewards programs help retailers attract shoppers and build customer loyalty, which is part of their:

A local food store can be regarded as a convenience retailer.

Vending machines are an example of:

A retailer seeks to communicate information about its stores through its ______ strategy.

Retail experts often cite _____ as a potential determining factor in the success or failure of a retail business.

A retail establishment that carries a wide variety of product lines, stocking all of them in some depth is referred to as a _____.

How do retailers select target markets?

Casey's General Store is a popular ______-type retailer offering gasoline, snacks, extended store hours, and rapid checkout service.​

In the case of convenience stores, customers usually compare prices, assortments, and quality levels at competing outlets before making purchase decisions.

Macy's is a retail store that focuses on fashion-oriented merchandise, backed by a complete array of customer services. It can be considered as a self-service store.

Supermarkets are a mix between specialty and shopping merchandise.