MKTG 1102 Ch 11 - MKTG 1102 Ch 11 PDF

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MKTG 1102 Ch 11...

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_____ includes all activities involved in selling, renting, and providing goods and services to ultimate consumers for personal, family, or household use. - Retailing During the Christmas season, Give & Take Inc., a gifts store, sets up kiosks in many shopping centres for customers who might not be able to travel to a centre that contains a fullsized gift store. By creating these kiosks in a variety of locations, Give & Take Inc. is creating _____ utility. - place A men's clothing store that offers alterations is providing its customers with _____ utility. - form Pally's Supermarket accepts debit and credit cards as well as cash and cheques for purchases. Its acceptance of various forms of payment provides its customers with _____ utility. - possession The ability to shop over the Internet 24/7 provides consumers with _____ utility. - time _____ distinguishes retail outlets on the basis of whether individuals, corporate chains, or contractual systems possess or control the outlet. - form of ownership A(n) _____ is a form of ownership that involves multiple outlets under common ownership. - corporate chain Bright @ Night allows its independent members, retailers of lighting fixtures, to concentrate their buying power and to plan collaborative promotional and pricing activities. Bright @ Night is a _____. - contractual system Franchising is a type of: - contractual system Franchising is attractive for the franchisee because: - it offers the opportunity to enter into an established business with managerial advice. National franchisers assist their franchisees in selecting the store location, setting up the store, advertising, and: - training personnel The first step in developing a retail strategy is - to define a target market Mercedes-Benz sells the B series cars in Canada but not in the United States. This is most likely because - The B series vehicles don't appeal to the target market identified in the U.S.

Raphael & Sons is a high-end men's clothing retailer. In times of recession, the retailer began to carry lower-quality, low-priced suits. This made Raphael & Sons lose a significant number of its loyal customers. This is an example of wrong _____. - retail positioning Graham's Spice LLC makes use of _____, which includes use of traditional media, new media, direct marketing, loyalty, and trade promotion to understand when and where its customers first think about purchasing its spices. - shopper marketing Level of service refers to the: - degree of service provided to the customer Foodies, a recent venture in the supermarket scene, targets people who want to eat healthy. The store has been experimenting by putting to use the elements of the retailing mix. Foodies uses placards telling shoppers about the farmers who grew and harvested the various products in the store. This use of signage to provide consumer information is a part of the store's _____. - communication mix Foodies sells a wide variety of fruits and vegetables, including exotic ones from different countries. It has very competent salespeople who guide the customers in selecting their produce. The retailer guarantees the freshness of its produce and offers a no-questions-asked exchange policy. In terms of the retailing mix, this strategy is concerned with _____. - the product and services mix At which level of service would the retail customer perform the greatest number of functions? - self-service What level of retail service do home building-supply outlets, discount stores, and catalogue showrooms typically provide? - self-service Kyra, who owns a tailoring shop, has recently launched a new retail store, Posture. The store is aimed at carrying a broad selection of women's clothing. Posture has an informed staff and will even gift wrap purchases free of charge. It does not, however, provide alterations on items purchased at the store. This store offers _____. - limited service Kyra aims to expand Posture's reach across Canada and make it a high-end store. She will

have well-trained and informed salespeople in each store who will assist customers with a personalized shopping experience. The salespeople will have a database of its regular customers with details such as the colour, texture, and size of clothing they prefer, so that the customers do not waste time providing such details every time they visit the store. Customers' needs will be addressed in-store. Kyra is aiming to make Posture: - move from limited service to full service Which level of service frequently characterizes specialty stores and department stores? - full service The assortment of products within each product line in a store is referred to as its _____. - depth of product line Mamma's Palace is a retail store, created and staffed by women. The store aims at offering products and services relating to maternity needs. The store also offers advice, personal shopping services, help with hair and/or make-up problems, and free delivery for expectant mothers. Mamma's Palace is a _____ retailer. - full service Mamma's Palace carries 3,000 items in stock for expectant mothers in all dress sizes. This is an example of the ____ that Mamma's Palace carries. - depth of product line Stores that carry a considerable assortment (depth) of a related line of items are called _____. - limited-line stores Marcus Pigeon Supplies is one of the biggest retailers of racing pigeon supplies in the country. The storeowner describes the store as "the Sam's Club of pigeon supplies." Marcus Pigeon Supplies is an example of a(n) _____. - single-line store Limited- and single-line stores are often referred to as _____. - specialty outlets The variety of different items a store carries is referred to as the _____. - breadth of a product line A type of retail outlet that focuses on one type of product at very competitive prices and often dominates the market is called a _____. - category killer _____ are stores that carry a variety of product lines with limited depth. - general merchandise stores _____ involves offering several unrelated product lines in a single store. - scrambled merchandising

A drug store that sells pharmaceuticals, beauty aids, camera equipment, non-perishable grocery items, and automobile motor oil is an example of a retailer using _____. - scrambled merchandising Competition between very dissimilar types of retail outlets that carry some of the same kind of merchandise is referred to as _____. - intertype competition Fresh-cut flowers that used to be available only from florists can now be purchased at neighbourhood supermarkets. The competition between the supermarket and the florist for flower sales is an example of _____. - intertype competition Which of the following is true of a markdown? A. It is often used when the product does not sell at the original price. B. New models or styles don't force the price of existing models to be marked down. C. It may be used to increase demand for unrelated products. D. The timing of a markdown really doesn't matter. - A. It is often used when the product does not sell at the original price. When compared to discount stores, off-price retailers: - are unpredictable when it comes to selection Regional shopping centres are: - 50 to 150 stores that typically attract customers who live or work within a 5- to 15kilometre range. Jazz, a power shopping centre, contains three _____, which are well-known national or regional stores. - anchor stores A community shopping centre is a: - retail location that has one primary store and often about 20 to 40 smaller outlets and serves those who are within a 2- to 5-kilometre drive. Clean & Crisp is a new dry-cleaning and laundry company. The owner wants to attract people who will be within a 5- to 10-minute drive of the business. The best location for this new dry-cleaning and laundry service would be _____. - a strip location Graham's, Foxes, and Harley's are retailers who sell their products at retail stores, through

their catalogues, and at their online websites. These retailers are _____ retailers. - multichannel Jimmy's, a multichannel retailer, assists customers to order items that may be out of stock at one of its retail stores. The customers may use the catalogue to place the order. This provision best illustrates that Jimmy's: - benefits from the synergy of sharing information among their different channel operations. _____ retailing occurs outside a retail store, such as through direct marketing, direct selling, and automatic vending. - Non-store Which of the following is an example of non-store retailing? A. hypermarkets B. supercentres C. shopping centres D. vending machines - D. vending machines Commuter stops such as airports and train and bus stations do not have stores that are open 24 hours each day. But travelers are often in need of small convenience products and food items. Which type of non-store retailing fits best in these locations? - automatic vending Prices in vending machines tend to be higher because: - maintenance and operating costs are high Direct mail and catalogue retailing are examples of _____. - non-store retailing Daniel, an avid fly fisherman from a small village, needs large rubber rafts; chest and hip waders; special fishing rods, reels, and line; and an assortment of fishing tackle and lures. He orders his fishing supplies from Fish & Spin's catalogue due to the lack of any good stores in his village. His supplies are generally delivered to his home within 72 hours. Daniel is using a _____ to satisfy his fishing supply needs. - direct mail marketer One of the limitations of television home shopping has been the: - lack of buyer-seller interaction Which of the following statements about telemarketing is true? A. Shopping bots are computers that place automated telemarketing calls. B. Direct mail is typically viewed as more efficient than telemarketing.

C. Telemarketing has declined in popularity as companies have searched for ways to decrease costs. D. As the use of telemarketing grows, consumer privacy has become a greater concern. - D. As the use of telemarketing grows, consumer privacy has become a greater concern. Which of the following statements about direct selling is true? A. Unlike other forms of non-store retailing, direct selling takes place in the business market. B. Direct selling lacks demonstrations of the products in question. C. Success of direct sales results from the convenience and personalized service provided. D. Direct sales have been growing rapidly. - C. Success of direct sales results from the convenience and personalized service provided. Direct selling is likely to continue to grow in markets: - where there is a lack of effective distribution channels. Social media sites like Facebook and Twitter have - given a boost to online retailing One of the biggest problems online retailers face is: - customers' tendencies to get to the checkout and leave the website without concluding the purchase. Dell Computers allows online shoppers to choose the components in their computer instead of buying one "off the shelf". This exemplifies - customization benefits of online shopping In order to be effective, online retailers must ensure that websites are well designed, easy to navigate and load images quickly. This is because - consumers expect convenience in online shopping Smartphones are being integrated into the shopping experience and have a variety of tools to make it easy for the consumer to make the exchange. While shopping, Ann uses her smartphone to scan _____ codes that are encoded with information ranging from text, to photos, to website addresses. - quick response (QR codes) For online shoppers under 35 years old, recommendations of social media friends are ____ important compared to celebrity endorsements. - more

In order to improve online order rates, a retailer should - develop a social media strategy that engages consumers Harry, upon arriving at a supermarket, researches for product reviews and prices on his smartphone using codes that are two-dimensional images that look like blobs of black on a white background. Harry is using a _____ scanner. - quick response code Which type of wholesaler carries a broad assortment of merchandise and performs all channel functions? - general merchandiser wholesaler Which of the following are limited-service wholesalers? A. selling agents B. general merchandise wholesalers C. specialty merchandise wholesalers D. cash and carry wholesalers - D. cash and carry wholesalers _____ furnish the racks or shelves that display merchandise in retail stores and perform all channel functions. They sell on consignment to retailers, which means they retain the title to the products displayed and bill retailers only for the merchandise sold. - rack jobbers Which of the following is true about rack jobbers? A. They solicit orders from retailers and other wholesalers and have the merchandise shipped directly from a producer to a buyer. B. They are limited service wholesalers who sell on consignment. C. They are specialty merchandise wholesalers. D. They handle perishable items that are sold for cash. - B. They are limited service wholesalers who sell on consignment. Which of the following is true about cash and carry wholesalers? A. They furnish shelves that display merchandise in retail stores. B. They sell only to buyers who call on them. C. They are specialty merchandise wholesalers.

D. They handle perishable items that are sold on credit. - B. They sell only to buyers who call on them. Cash and carry wholesalers: - typically handle office supplies, electrical supplies, hardware products, and groceries. Drop shippers are wholesalers who: - own the merchandise they sell but do not physically handle, stock, or deliver it. Milky Way Inc., a regional manufacturer of dairy products, has developed a frozen soybased yogurt product. The company feels that the choice of its distribution channel is critical to its new product's success, especially since the product is a perishable item, and the company wants to have it distributed across the nation. However, it will take some time before sales take off, and it wants to make sure the marketing program is consistent everywhere. It should use: - manufacturers' agents to sell to truck jobbers who in turn will deal with retailers. Truck jobbers are wholesalers who: - have a small warehouse from which they stock their trucks for distribution to retailers. Which of the following would most likely use truck jobbers to distribute its products? A. a clothing manufacturer B. a manufacturer of electric generators C. a leather goods importer D. a small bakery - D. a small bakery Selling agents are agents who: - represent a single producer and are responsible for the entire marketing function of that producer. Which of the following statements is true? A. Merchant wholesalers don't perform all channel functions, and agents and brokers do. B. Agents and brokers only deal with consumer channels. C. Agents and brokers make their profits based on the sales of merchandise they own, while merchant wholesalers make profits based on fees paid for their services.

D. Merchant wholesalers take title to merchandise, and agents and brokers do not. - D. Merchant wholesalers take title to merchandise, and agents and brokers do not. Play Along Inc., a new toy company, has launched Music Blocks at an initial price of $70. It is a set of electronic blocks that young children arrange in different combinations to create music and experiment with sound. To get the toy into the hands of the retailers, Play Along Inc. must choose to use a _____ to be principally responsible for the transactional channel functions. - manufacturer's agent If a business needs bids on installing a wastewater treatment centre, it can visit Korony.com, an Internet company, list its requirements, and ask for bids. Because the purpose of this website is to put buyers and sellers together so that a sale can be made, this site can be categorized as a(n) _____. - broker A manufacturer's branch office: - carries a producer's inventory and performs the functions of a fullservice wholesaler...