Exam 15: Retailing

Retailers control the six Ps of the retailing mix.The six Ps include the marketing mix plus:

Subway,Denny's,and Circle K are examples of _____ because the franchisee buys the right to use the franchisor's approach to doing business.

What is the first task of developing a retail strategy? What is involved in this task?

Walmart Walmart,the world's largest retailer by revenue,announced that it will get back to its founder's roots by initiating more price cuts.Critics claimed that the giant was getting away from its original focus because it posted relatively high gross profit margins.CEO Mike Duke assuaged critics by saying Walmart's $400 billion in sales will become even larger because the price cuts will attract more customers and it will lower its costs of goods sold. -Refer to Walmart.Walmart's gross margin is the:

M-commerce involves consumers using wireless mobile devices to connect to the Internet and shop.

Laura buys supplies for her catering business at a retailer that stocks a limited selection of items,which are sold in bulk on a cash-and-carry basis to members only.As she browses through the huge store,she buys flour,a set of muffin pans,and a package of paper towels as well as an assortment of fresh produce.Laura is most likely shopping at a(n):

Marketers who use nonstore retailing no longer have to worry about the "place" element of the four Ps.

Texas-based Grape Vine Market is an 18,000-square-foot store offering highly collectible food and wine-along with some other culinary perks,including a cooking school-all in a setting crafted to make shoppers feel comfortable.It stocks more than 5,500 different kinds of wine.Grape Vine Market is best described as a:

Nordstrom has franchises in 27 states.

It is commonplace for a franchisee to pay money to the franchisor for the cost of advertising.

Nordstrom typically charges the full "suggested retail price" on its merchandise,unlike discounters,factory outlets,and off-price retailers,which use low prices to attract shoppers.

The ________ of employees within a Nordstrom store is presumably higher than it is in a store like Kmart,which has a "do-it-yourself," casual atmosphere.

Maurice was watching TV one evening when he saw a commercial for Eggies,a plastic gadget that cooks hardboiled eggs without a shell.According to the commercial,all you have to do is crack and pour in your egg into the plastic "Eggie," boil it right on your stovetop,then just twist it open for a perfect hardboiled egg.Maurice thought Eggies looked like a useful product,so when the 800-number popped up on his screen,he called right away and ordered a set.This is an example of _____ telemarketing.

Emily has just opened a health food store that sells organic foods,herbal supplements,and environmentally friendly products.Because it will be a specialty store,she should have a broad product assortment with moderately low prices.

All of the following are factors in creating a store's atmosphere EXCEPT:

A retail store can be classified according to its:

Retailing opportunities can take place without customers shopping at a store.Name and briefly discuss four forms of nonstore retailing.

Marketers can precisely target their customers according to demographics,geographics,and psychographics with:

Maggie Moo's has decided that consumers will drive out of their way for the store's yummy ice cream offerings.The owner needs to keep his overhead costs (such as rent)low and wants to avoid locating near competitors.For a location,Maggie Moo's should open in a:

One of the new developments in retailing is m-commerce.The "m" in m-commerce stands for: