Question 1

Paul's family has owned and operated a small chain of conventional supermarkets.Competition from a variety of other kinds of retailers has adversely affected the business.To address the new competitive reality,Paul wants to apply what he recently learned as a marketing major and he has recommended that his family should:

Accepted Answer

All of these options would be valuable in addressing the competitive reality faced by Paul's family's supermarket chain. Emphasizing high gross margin products would ensure profitability, targeting health-conscious and ethnic consumers would attract a growing segment of the market, providing a better shopping environment would improve customer experience and loyalty, and offering more private label brands could increase the store's differentiation and potentially improve profit margins. Combining all of these strategies would be the most effective approach.

Question 2

___________________ offer general merchandise at lower prices and are often found in lower-income urban and rural areas.

Accepted Answer

The answer of ___________________ offer general merchandise at lower prices...

Question 3

Supercenters have become the fastest growing retail category by combining broad assortments of groceries and general merchandise products.____________ dominates this category with more than 80 percent of the supercenters in the United States.

Accepted Answer

The sentence states that one retailer dominates this category with over 80% of the market share in the United States, and the only option among the choices that fits this description is Walmart.

Question 4

A manufacturer of high-end products might consider selling products in a warehouse club if:

Accepted Answer

The answer of A manufacturer of high-end products might consider...

Question 5

___________________ are combating competitive pressures by offering fresh food and healthy fast food,tailoring assortments to local marketing,opening locations closer to where consumers work and shop,and adding new services.

Accepted Answer

Convenience stores are the ones combating competitive pressures by offering fresh food and healthy fast food, tailoring assortments to local marketing, opening locations closer to where consumers work and shop, and adding new services. This is evident from the rise of convenience stores offering fresh food and healthy options over the past few years.

Question 6

Retailers that offer a broad variety of merchandise,limited services and low prices are known as:

Accepted Answer

Full-line discount stores offer a wide range of merchandise, but with limited services and lower prices than department stores. Convenience stores are small retailers that typically offer a limited selection of products and are focused on providing quick and easy shopping experiences. Home improvement stores and category specialists are retailers that specialize in specific areas such as hardware, sporting goods, or electronics.

Question 7

The retail category that has experienced sustained growth due to the aging population is:

Accepted Answer

Drugstores have experienced sustained growth due to the aging population because older individuals tend to have more health concerns and require medications and health-related products. Drugstores also often have services such as pharmacies and clinics that cater to the needs of older consumers.

Question 8

Kohl's,JCPenney,and Bloomingdales are examples of:

Accepted Answer

Kohl's, JCPenney, and Bloomingdales are all considered department stores.

Question 9

As a type of retailer,category specialists are fierce competitors using:

Accepted Answer

Category specialists differentiate themselves by offering a complete assortment in a specific category at low prices. This allows them to compete with other retailers in the same category and attract price-sensitive customers. While some may also have a broad assortment of merchandise, highly trained personnel, and attractive loyalty programs, their main competitive advantage is the complete assortment at low prices.

Question 10

________________ are likely to target low-income consumers who demand national brands,but cannot afford to buy large-sized packages.

Accepted Answer

Extreme value retailers, also known as dollar stores, are most likely to target low-income consumers who demand national brands but cannot afford to buy large-sized packages. These stores offer small quantities of national brands at discounted prices, making them accessible to low-income consumers.

Question 11

___________________ are combating competitive pressures by increasing the amount of exclusive and private label merchandise,strengthening customer loyalty programs and expanding their online presence.

Accepted Answer

Department stores are combating competitive pressures by increasing the amount of exclusive and private label merchandise, strengthening customer loyalty programs and expanding their online presence.

Question 12

If a food manufacturer had a full range of products,in a number of different containers sizes,which kind of store would the company probably NOT choose as a retailing partner?

Accepted Answer

Convenience stores typically have limited shelf space and tend to prioritize fast-moving, high-volume products. Since a food manufacturer with a diverse range of products and container sizes may require more shelf space than a convenience store may be able to offer, it is less likely to choose a convenience store as a retailing partner. The other options, such as conventional supermarkets, supercenters, and warehouse clubs, are better suited for carrying a wider variety of products and container sizes.

Question 13

If you walk into a _________________,you will likely find a broad variety of merchandise,deep assortment,and customer service,with everything divided into what appears to be a collection of specialty shops.

Accepted Answer

Department stores are typically large retailers that offer a wide variety of merchandise, with separate departments or "specialty shops" for different categories such as clothing, electronics, and home goods. They also typically offer customer service and a deep assortment of products.

Question 14

Category killers are also known as:

Accepted Answer

Category killers are retailers that specialize in a particular product category and dominate that category by offering a large selection, competitive prices, and expert knowledge. These retailers are typically large, standalone stores, often called "big-box" retailers, that focus on a specific category such as home improvement, electronics, or sporting goods. Full-line discount stores, specialty stores, warehouse clubs, and extreme value retailers may offer a variety of products but do not necessarily specialize in a particular category.

Question 15

Brian,an industrial equipment sales rep,purchases a snack to eat on the way to work.He buys lunch while on the road visiting customers,and grabs bread and milk on the way home.Brian probably does the majority of this shopping at a:

Accepted Answer

The answer of Brian,an industrial equipment sales rep,purchases a snack...

Question 16

If you are a marketer for a manufacturer,and the marketing mix for your product focuses on very specific market segments,you'd like to sell your product through:

Accepted Answer

Specialty stores cater to specific market segments, making them the best choice for a marketer with a marketing mix that focuses on those segments.

Question 17

If you're a manufacturer,and you want to showcase your product in a store that has a narrow but deep selection of merchandise and where sales associates can assist customers with their selections,you'd likely choose:

Accepted Answer

Specialty stores typically have a narrow but deep selection of merchandise and knowledgeable sales associates who can assist customers with their selections. This environment would be ideal for showcasing a specific product and providing personalized attention to potential customers.

Question 18

_______________ reduce costs and maintain low prices by buying opportunistically from manufacturers with excess inventory,offering limited assortments and operating in low-rent locations.

Accepted Answer

Extreme value retailers specialize in reducing costs and maintaining low prices by buying opportunistically from manufacturers with excess inventory, offering limited assortments and operating in low-rent locations.

Question 19

Compared to conventional supermarkets,warehouse clubs have:

Accepted Answer

Warehouse clubs typically have an irregular assortment of food and general merchandise, lower service levels, and offer lower prices compared to conventional supermarkets. They also offer products for both consumers and small businesses. Therefore, all of the options listed are correct.

Question 20

Off-price retailers can purchase merchandise at one-fifth to one-fourth of the original wholesale prices because they do not ask the suppliers for __________________.

Accepted Answer

The answer of Off-price retailers can purchase merchandise at one-fifth...

Quiz 16: Retailing and Multichannel Marketing