Chapter 11: Retail and Wholesaling

​________ refers to the activities involved in selling products or services directly to final consumers for their​ personal, nonbusiness use.Retailing
​_______ involves focusing the entire marketing process toward turning shoppers into buyers as they approach the point of sale.Shopper Marketing
Which type of retailer carries a narrow product line with deep assortments within those​ lines?Speciality Stores
​Macy’s carries several product lineslong dash—typically ​clothing, home​ furnishings, and household goodslong dash—with each line operating as a separate department managed by specialist buyers or merchandisers.​ Macy’s is best described as​ a(n) ________.department store
A discount store​ (for example,​ Target, Kohl’s, or​ Walmart) sells standard merchandise at lower prices. To do​ this, discount stores accept which of the following two​ conditions?lower margins and higher sales volume
Superstores that are actually giant specialty stores and have seen tremendous growth recently are called​ _______.category killers
Hotels and​ motels, banks,​ airlines, restaurants,​ colleges, hospitals, movie​ theaters, tennis​ clubs, bowling​ alleys, repair​ services, hair​ salons, and dry cleaners are all examples of​ ________.service retailers
What are the four major types of retail​ organization?Corporate​ chains, voluntary​ chains, retailer​ cooperatives, and franchise organizations.
After segmenting and defining their target​ markets, what should retailers do​ next?Decide how they will differentiate and position themselves in the market.
Retailers must decide on which three major product​ variables?Product​ assortment, services​ mix, and store atmosphere
What is the overall goal when retailers choose their product​ assortment?Differentiate the retailer while matching target​ shoppers’ expectations.
The retail marketing mix consists of which of the​ following?Product and service​ assortment, retail​ prices, promotion, and location
Carefully orchestrating the​ store’s layout and​ displays, background​ music, colors, and smells is related to​ ________.experiential retailing
Which of the following correctly describes the retail practice known as​ high-low pricing?​High-low pricing means charging higher prices on an everyday​ basis, coupled with frequent sales and other price promotions.
Which of the following statements about retailer marketing decisions is​ correct?Many retailers identify three critical factors for retail​ success: location,​ location, and location.
Which of the following statements about shopping centers is​ correct?The most common type of shopping center is a strip mall.
The practice of coming into retail stores to check out merchandise and prices but making purchases online using a computer or mobile device is called​ _______.showrooming
By practicing​ ______ retailing,​ today’s retailers are increasingly adopting environmentally sustainable
​Increasingly, different types of retailers now sell the same products at the same prices to the same consumers. This trend is called​ ___________.retail convergence
Which of the following statements about major retail trends is​ true?Online buying is growing at a much brisker pace than retail buying as a whole.
One retail trend resulting from economic conditions is​ ________.tighter consumer spending
​___________ are the largest single group of​ wholesalers, accounting for roughly 50 percent of all wholesaling.Merchant wholesalers
Which of the following statements about wholesaling is​ true?Wholesalers must make decisions regarding their marketing mix.
Which wholesaler channel function helps reduce inventory holding costs and the risks of suppliers and​ customers?Warehousing
By performing the channel function of​ ________, wholesalers’ sales forces help manufacturers reach many small customers at a low cost.selling and promoting