Question 1

__________means persuading customers to buy a higher-priced item than they originally intend to purchase.

Accepted Answer

Trading up

Question 2

Successful retailing has always been based on knowing the customer.

Accepted Answer

A) True 
 B)False  True

Question 3

Which of the following is a difference between off-price retailers and specialty shops?

Accepted Answer

A) Off-price retailers replenish inventory items that are sold,while specialty shops never replenish inventory items that are sold. 
B) Off-price retailers employ a hybrid retail operating model,while specialty shops employ a mass merchandising retail operating model. 
C) Off-price retailers focus on lean inventory management,while specialty shops are supported by an agile approach to inventory. 
D) Off-price retailers adopt a high-service approach,while specialty shops de-emphasize customer service and product selection. 
A) Off-price retailers replenish inventory items that are sold,while specialty shops never replenish inventory items that are sold. 
B) Off-price retailers employ a hybrid retail operating model,while specialty shops employ a mass merchandising retail operating model. 
C) Off-price retailers focus on lean inventory management,while specialty shops are supported by an agile approach to inventory. 
D) Off-price retailers adopt a high-service approach,while specialty shops de-emphasize customer service and product selection. C

Question 4

Tipplers Delight is a liquor store that sells a wide assortment of alcoholic beverages.Tipplers Delight is an example of a__________.

Accepted Answer

The answer of Tipplers Delight is a liquor store that...

Question 5

Determining a target market is not a prerequisite to creating the retailing mix.

Accepted Answer

A) True 
 B)False

Question 6

What is brand cannibalization? Why is it dangerous to the retailer?

Accepted Answer

One risk associated with store promotion

Question 7

A(n)__________refers to the originator of a trade name,product,methods of operation,and the like that grants operating rights to another party to sell its product.

Accepted Answer

The answer of A(n)__________refers to the originator of a trade...

Question 8

Alpha Beta Inc.is a self-service shop that offers a wide variety of foods and household products,organized into aisles.Alpha Beta is a _____.

Accepted Answer

A) supermarket 
B) ​drugstore 
C) ​warehouse club 
D) factory outlet 
A) supermarket 
B) ​drugstore 
C) ​warehouse club 
D) factory outlet

Question 9

Explain in detail the four areas that service distribution should focus on.

Accepted Answer

Service distribution should focus on fou

Question 10

__________is an emerging trend that employs market data to best serve customers as they prepare to make a purchase.

Accepted Answer

The answer of __________is an emerging trend that employs market...

Question 11

​A(n)_____ refers to the originator of a trade name,product,methods of operation,and the like that grants operating rights to another party to sell its product.

Accepted Answer

A) retailer 
B) ​franchisor 
C) ​consumer 
D) investor 
A) retailer 
B) ​franchisor 
C) ​consumer 
D) investor

Question 12

At the store level,tactical retailing goals include decrease in store traffic and lower sales of specific items.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following is true of retail channel omnification?

Accepted Answer

A) It allows retailers to offer competitive prices across various outlets. 
B) It increases redundancies in inventory and transportation. 
C) It determines which product to stock and at what price. 
D) It focuses on understanding how a brand's target consumers behave in different channels. 
A) It allows retailers to offer competitive prices across various outlets. 
B) It increases redundancies in inventory and transportation. 
C) It determines which product to stock and at what price. 
D) It focuses on understanding how a brand's target consumers behave in different channels.

Question 14

Which of the following is true of a franchise?

Accepted Answer

A) It is an agreement where two parties agree to share the ownership of a business. 
B) It is owned by a person or a group with singular stores being operated within a local community. 
C) It sells products under the brand name of a larger supporting organizational structure. 
D) It is a group of brand names owned and operated by a single organization. 
A) It is an agreement where two parties agree to share the ownership of a business. 
B) It is owned by a person or a group with singular stores being operated within a local community. 
C) It sells products under the brand name of a larger supporting organizational structure. 
D) It is a group of brand names owned and operated by a single organization.

Question 15

Alpha Beta Inc.is a self-service shop that offers a wide variety of foods and household products,organized into aisles.Alpha Beta is a__________.

Accepted Answer

The answer of Alpha Beta Inc.is a self-service shop that...

Question 16

Delta Company recruits and trains college students to sell educational reference books,software,and children's books door-to-door.This form of retailing is called:

Accepted Answer

A) direct retailing. 
B) online retailing. 
C) off-price retailing. 
D) in-store retailing. 
A) direct retailing. 
B) online retailing. 
C) off-price retailing. 
D) in-store retailing.

Question 17

Which of the following is true of click-and-collect?

Accepted Answer

A) It requires representatives to sell products door-to-door,in offices,or at in-home sales parties. 
B) It employs outbound and inbound telephone contacts to sell directly to customers. 
C) It enables consumers to make their purchases online and pick up their orders from physical stores. 
D) It allows customers to shop over the Internet and have items delivered directly to their door. 
A) It requires representatives to sell products door-to-door,in offices,or at in-home sales parties. 
B) It employs outbound and inbound telephone contacts to sell directly to customers. 
C) It enables consumers to make their purchases online and pick up their orders from physical stores. 
D) It allows customers to shop over the Internet and have items delivered directly to their door.

Question 18

To manage service capacity,service firms must turn down some prospective customers if they do not have the capacity to meet demands.

Accepted Answer

A) True 
 B)False

Question 19

Value-based pricing focuses on the cost of a product to the supplier more than the value of a product to the customer.

Accepted Answer

A) True 
 B)False

Question 20

What is a target market?

Accepted Answer

The first and foremost task in developin

Exam 15: Retailing

__________means persuading customers to buy a higher-priced item than they originally intend to purchase.

Successful retailing has always been based on knowing the customer.

Which of the following is a difference between off-price retailers and specialty shops?

Tipplers Delight is a liquor store that sells a wide assortment of alcoholic beverages.Tipplers Delight is an example of a__________.

Determining a target market is not a prerequisite to creating the retailing mix.

What is brand cannibalization? Why is it dangerous to the retailer?

A(n)__________refers to the originator of a trade name,product,methods of operation,and the like that grants operating rights to another party to sell its product.

Alpha Beta Inc.is a self-service shop that offers a wide variety of foods and household products,organized into aisles.Alpha Beta is a _____.

Explain in detail the four areas that service distribution should focus on.

__________is an emerging trend that employs market data to best serve customers as they prepare to make a purchase.

​A(n)_____ refers to the originator of a trade name,product,methods of operation,and the like that grants operating rights to another party to sell its product.

At the store level,tactical retailing goals include decrease in store traffic and lower sales of specific items.

Which of the following is true of retail channel omnification?

Which of the following is true of a franchise?

Alpha Beta Inc.is a self-service shop that offers a wide variety of foods and household products,organized into aisles.Alpha Beta is a__________.

Delta Company recruits and trains college students to sell educational reference books,software,and children's books door-to-door.This form of retailing is called:

Which of the following is true of click-and-collect?

To manage service capacity,service firms must turn down some prospective customers if they do not have the capacity to meet demands.

Value-based pricing focuses on the cost of a product to the supplier more than the value of a product to the customer.

What is a target market?

An Overview of Marketing

Strategic Planning for Competitive Advantage

Ethics and Social Responsibility

The Marketing Environment

Developing a Global Vision

Consumer Decision Making

Business Marketing

Segmenting and Targeting Markets

Marketing Research

Product Concepts

Developing and Managing Products

Services and Nonprofit Organization Marketing

Supply Chain Management

Marketing Channels

Marketing Communications

Advertising, public Relations, and Sales Promotion

Personal Selling and Sales Management

Social Media and Marketing

Pricing Concepts

Setting the Right Price

Filters

A(n)_____ refers to the originator of a trade name,product,methods of operation,and the like that grants operating rights to another party to sell its product.