Question 1

Higher-income consumers visiting __________ feel like they are on a treasure hunt,searching for a bargain.

Accepted Answer

Extreme-value retailers are known for offering products at significantly cheaper prices than other retailers, which would appeal to higher-income consumers looking for bargains. Department stores, big-box retailers, and category specialist stores typically focus on higher priced and higher quality products, while service retailers primarily offer services rather than tangible products.

Question 2

Retailers use __________ to communicate with or sell to consumers through wireless handheld devices.

Accepted Answer

The answer of Retailers use __________ to communicate with or...

Question 3

Kim wants to maximize sales to the customers who walk into her store.Of the following,Kim will most likely focus on

Accepted Answer

In-store promotions are the most effective way to influence and increase sales to customers who are already in the store. This can include sales, discounts, loyalty programs, and product demonstrations. Focusing on in-store promotions will allow Kim to target and appeal to her immediate audience without spending money on reaching out to a larger, less targeted group of people.

Question 4

Henri wants customers in his specialty tobacco store to feel at home,as if they were in their personal smoking den.He uses lighting,music,and soft chairs to create a "look and feel" that will get customers to relax and return.Henri is focusing on which aspect of the marketing mix?

Accepted Answer

Henri is focusing on promotion, as he is using various sensory cues to create a certain atmosphere in his store that will encourage customers to feel at home and want to return.

Question 5

Considering what you know about their target markets and merchandise,which of the following retailers is least likely to have an online presence?

Accepted Answer

Convenience stores typically offer a limited selection of everyday items and do not necessarily cater to customers who value online shopping convenience.

Question 6

Personal selling is particularly important for retailers selling

Accepted Answer

Personal selling is particularly important for products that are complicated or expensive because it allows the salesperson to provide detailed information, answer questions, address concerns, and build rapport with the customer, which can lead to a higher likelihood of making the sale. For example, a salesperson at a jewelry store can explain the 4 Cs of diamonds and show different options to a customer, helping them make an informed decision on a high-value item.

Question 7

__________ offer an inconsistent assortment of brand-name merchandise at low prices.

Accepted Answer

Off-price retailers typically offer a mix of brand-name merchandise at lower prices, but the assortment can be inconsistent and ever-changing. Department stores (A) typically carry a range of merchandise across various categories, including higher-end brands, while specialty stores (B) focus on a specific product category or customer segment with a more curated assortment. Category killers (C) are large specialty stores that dominate a particular category, such as electronics or home improvement, but they usually offer a consistent selection of merchandise. Full-line discount stores (E) offer a broad range of products at low prices, but they typically carry private label or lesser-known brands rather than top-tier national brands.

Question 8

If you were a marketer for a clothing manufacturer and you wanted to improve revenues from irregulars,production overruns,and returns,you would be attracted to using

Accepted Answer

Off-price retailers specialize in selling merchandise that has been overproduced or returned, including irregular items. Therefore, they are a natural fit for a clothing manufacturer looking to improve revenues from irregulars, production overruns, and returns. Department stores and specialty stores typically do not carry these types of items, while category specialists and supercenters may not have a dedicated focus on clothing.

Question 9

Retailers in expensive resort areas often find it difficult to hire quality salespeople.In a situation like this,retailers should consider augmenting or even replacing the sales and customer service functions with

Accepted Answer

In-store kiosks or self-checkout lanes can help to reduce the need for salespeople and improve customer service, especially in high-end resort areas where staffing may be difficult. This option can also offer convenience to customers who may not want to interact with salespeople or wait in lines. Furthermore, it may be cost-effective, especially if retailers invest in training for their staff to manage the kiosks smoothly.

Question 10

One product strategy used by retailers to differentiate themselves from competitors is

Accepted Answer

The use of private-label brands allows retailers to offer exclusive and unique products that cannot be found at other stores, therefore differentiating themselves from competitors who carry the same brand-name merchandise.

Question 11

One of the most fundamental activities of retailers is to provide __________,satisfying the needs of their target market.

Accepted Answer

The right mix of merchandise and services is crucial for retailers to meet the needs of their target market. This includes having the right variety of products, appropriate pricing, quality service, and a convenient location to attract and retain customers. Wholesaling opportunities, persuasive advertising, corrective price controls, and category killing profitability may be important aspects of retailing, but they are not as fundamental as providing the right mix of merchandise and services to meet the needs of the target market.

Question 12

Because of the way __________ buy merchandise,customers can never be confident that the same merchandise will be in stock each time they visit the store.

Accepted Answer

Off-price retailers typically buy merchandise in small batches and from a constantly changing list of suppliers, which means they may not have the same merchandise in stock consistently.

Question 13

Unusual and exciting displays like Bass Pro Shops' climbing wall and stocked aquarium are examples of

Accepted Answer

The unusual and exciting displays described are examples of in-store promotions, which are designed to engage customers and create an engaging shopping experience.

Question 14

________ must always be aligned with other elements of a retailer's strategy in order to accurately define the value of the product and a retailer's image.

Accepted Answer

Price is a critical element in defining both the value of the product and the retailer's image, but it must be aligned with other elements of the retailer's strategy. For example, if a retailer positions itself as a high-end luxury retailer, the pricing of its products must be consistent with this image. On the other hand, if a retailer positions itself as a discount store, its pricing must reflect this image as well.

Question 15

Retailers' coupons,rebates,and online discounts are types of

Accepted Answer

Retailers' coupons, rebates, and online discounts are all examples of pricing promotions, which are promotions that offer temporary reductions in price to customers.

Question 16

Many retail golf stores have driving ranges,some with backdrops showing famous golf courses.These driving ranges allow

Accepted Answer

Driving ranges in retail golf stores allow customers to try the product before they buy it. This enhances the shopping experience by providing a hands-on experience, increasing the customer's confidence in their purchase decision, and potentially increasing their share of wallet spending. It also allows them to test different equipment and find the right fit for their needs. Therefore, the best choice is E.

Question 17

__________ are subtle forms of promotion that facilitate shopping.

Accepted Answer

Store credit cards and gift cards not only offer customers a convenient payment method, but also provide a subtle form of promotion by encouraging customers to continue shopping at the same store in order to use their credit or gift card balances.

Question 18

For retailers,promotion refers to

Accepted Answer

Promotion in retail refers to both in-store environment and media communications, including advertising, sales promotions, social media, and public relations. Retailers use promotion to create brand awareness, motivate customers to make purchases, and differentiate themselves from competitors. It encompasses all aspects of communication with the consumer, such as advertising, personal selling, sales promotions, etc.

Question 19

Retailers address the conflict between consumers wanting or needing only one item and manufacturers wanting to produce and ship in quantity by providing

Accepted Answer

Retailers address this conflict by providing storage, allowing them to buy in bulk from manufacturers and sell items individually to consumers.

Question 20

It is often difficult for retailers to distinguish themselves from their competitors through the merchandise they carry because

Accepted Answer

Competitors may purchase and sell many of the same popular brands, making it difficult for retailers to differentiate themselves through merchandise alone.

Quiz 17: Retailing and Omnichannel Marketing