Deck 15: Retailing

Question 1

The technique used to sift through data collected by point-of-purchase scanning equipment is called__________.

Answer 1

market-basket analysis

Question 2

Which of the following is true of retail channel omnification?

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.

Answer 2

A

Question 3

Strategic retailing goals typically focus on:

A)increasing total sales.
B)increasing costs of goods sold.
C)decreasing returns on equity.
D)decreasing store traffic.

Answer 3

A

Question 4

Which of the following is a difference between direct retailing and direct marketing?

A)Direct retailing shoppers are less bound by traditional shopping situations,while direct marketing shoppers are bound by traditional shopping situations.
B)Direct retailing employs inbound telephone contacts to sell directly to consumers,while direct marketing employs outbound telephone contacts to sell to consumers.
C)Direct retailing allows customers to shop over the Internet,while direct marketing does not allow customers to shop over the Internet.
D)Direct retailing representatives sell products door-to-door,while direct marketing allows consumers to shop from home.

Question 5

Successful retailing has always been based on knowing the customer.

Question 6

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:

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

Question 7

Choosing the right distribution channel for a service:

A)decreases the time that the service is available.
B)maximizes the time customers wait in a line.
C)increases the costs of providing the service.
D)adds to customer convenience.

Question 8

Developing a product offering is essentially a question of the width and depth of the product assortment.

Question 9

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

Question 10

Which of the following is true of specialty stores?

A)They offer consumers very limited service and carry a vast assortment of well-known,nationally branded goods such as toys,housewares,and clothing.
B)They price products lower than specialty discount stores.
C)They carry a wide range of products and specialty goods,including apparel,cosmetics,housewares,electronics,and sometimes furniture.
D)They carry a deeper but narrower assortment of merchandise within a single category of interest.

Question 11

Strategic retailing goals typically focus on increasing costs of goods sold.

Question 12

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

Question 13

A freestanding store can become successful by:

A)reducing the number of salespeople.
B)moving to an isolated location.
C)attracting customers from nearby competitors.
D)becoming a destination store.

Question 14

Maximizing the amount of time customers wait in line is a key factor in maintaining the quality of service.

Question 15

Which of the following is a difference between online retailing and the click-and-collect process?

A)Online retailing resells pre-owned items bought back from customers,while the click-and-collect process sells only new items.
B)Online retailing does not allow customers to provide themselves with products without the intervention of a service employee,while the click-and-collect process allows customers to provide themselves with products.
C)Online retailing ensures greater speed of delivery,while the click-and-collect process takes longer to deliver a product.
D)Online retailing enables customers to have items directly delivered to their doors;whereas in the click-and-collect process,customers travel to a physical store location to take delivery of the merchandise.

Question 16

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

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 17

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

Question 18

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

Question 19

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

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.

Question 20

Which of the following is true of a franchise?

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 21

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

Question 22

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

Question 23

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

Question 24

​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.

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

Question 25

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

Question 26

​_____ means persuading customers to buy a higher-priced item than they originally intend to purchase.

A)Suggestion selling
B)​Trading up
C)​Brand cannibalization
D)Microtargeting

Question 27

__________compete on the basis of low prices,high turnover,and high volume.

Question 28

Zeta is an American multinational retail corporation.To move ahead of its competitors and increase revenue,Zeta began to employ a system to determine which products to stock and at what prices,and how to advertise to draw target customers.The process employed by Zeta is called __________.

Question 29

__________are inventories displayed for sale to customers.

Question 30

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 _____.

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

Question 31

​Zeta is an American multinational retail corporation.To move ahead of its competitors and increase revenue,Zeta began to employ a system to determine which products to stock and at what prices,and how to advertise to draw target customers.The process employed by Zeta is called _____.

A)brand cannibalization
B)​big data analytics
C)​retail channel omnification
D)click-and-connect

Question 32

​The technique used to sift through data collected by point-of-purchase scanning equipment is called _____.

A)big data analysis
B)​shopper marketing
C)​market-basket analysis
D)shopper analytics

Question 33

​_____ compete on the basis of low prices,high turnover,and high volume.

A)Discount stores
B)​Convenience stores
C)​Drugstores
D)Supermarkets

Question 34

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.

Question 35

​_____ are inventories displayed for sale to customers.

A)Back stock
B)​Floor stock
C)​Intangible assets
D)Tangible assets

Question 36

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__________.

Question 37

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

A)supermarket
B)​specialty store
C)​supercenter
D)drugstore

Question 38

Asif wanted to buy a football immediately.He placed an order on Duke.com,an online portal for sports goods,and dropped in at its nearest physical store to collect it.This scenario is an example of__________.

Question 39

What is a target market?

Question 40

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

Question 41

​Asif wanted to buy a football immediately.He placed an order on Duke.com,an online portal for sports goods,and dropped in at its nearest physical store to collect it.This scenario is an example of _____.

A)microtargeting
B)​click-and-collect
C)​shopper marketing
D)retail channel omnification

Question 42

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

A)Retail channel omnification
B)​Click-and-collect
C)​Shopper marketing
D)Mass customization