Final exam pool items (Chs. 9, 11, 12, 13, 14, 15 & 17 not 18)
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TOP: AACSB Reflective Thinking | TB&E Model Product | TB&E Model Pricing 31. Home Depot Fuel is the name of a chain of convenience stores owned and operated by The Home Depot. These stores typically sell gas and are located just outside The Home Depot warehouse store. What else do you know about the Fuel convenience stores?
ANS: B
Convenience stores carry a limited line of high-turnover, high-priced goods and resemble miniature supermarkets. PTS: 1 REF: 192 OBJ: 13-3 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Customer | TB&E Model Pricing 32. Prices are usually higher in convenience stores than in supermarkets because convenience stores offer:
ANS: D
Convenience stores carry a limited amount of high-turnover, high-priced goods and resemble miniature supermarkets. Customers patronize these stores because of convenience. PTS: 1 REF: 192 OBJ: 13-3 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Pricing 33. _____ are retailers that compete on the basis of low prices, high turnover, and high volume.
ANS: B PTS: 1 REF: 192 OBJ: 13-3 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Pricing 34. Discount stores:
ANS: A
Discount stores have a wider range of merchandise than department stores but less depth in any category PTS: 1 REF: 192 OBJ: 13-3 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Distribution | TB&E Model Pricing 35. _____ carry a broad assortment of nationally branded hard goods (broader than a department store) and offer customers very limited service. National chains dominate this segment.
ANS: A PTS: 1 REF: 192-193 OBJ: 13-3 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Distribution | TB&E Model Product 36. _____ is the retailing strategy of using moderate to low prices on large quantities of products and lower service to stimulate a high turnover of inventory.
ANS: E PTS: 1 REF: 193 OBJ: 13-3 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Strategy | TB&E Model Product
ANS: B PTS: 1 REF: 193 OBJ: 13-3 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Strategy | TB&E Model Product | TB&E Model Promotion 38. A retail operation that has a 90,000-square-foot facility, that houses a florist, baker, bank, craft shop, photo finisher, dry cleaner, and pharmacy under the same roof as grocery and household items is correctly called a:
ANS: D
Supercenters offer an array of products and services, as well as groceries. PTS: 1 REF: 193 OBJ: 13-3 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Distribution 39. _____ are single-line stores that offer a nearly complete selection of one line of merchandise and use self-service, discount prices, high volume, and high turnover of merchandise to their advantage.
ANS: A
A specialty discount store is also called a category killer. PTS: 1 REF: 193 OBJ: 13-3 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Product | TB&E Model Pricing
ANS: B A specialty discount store (also called a category killer) offers a nearly complete selection of single-line merchandise and uses self-service, discount prices, high volume, and high turnover. PTS: 1 REF: 193 OBJ: 13-3 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Product | TB&E Model Pricing 41. In 2004, over 2 million people visited Wine.com and bought 14,000 different fine wines at discounted prices. Wine.com shipped wine to over 100,000 customers generating more than $30 million in sales in 2004. Wine.com has since become the most trafficked wine site in the world. As a retail operation, Wine.com would be correctly labeled an online:
ANS: B Category killers are specialty discount stores that heavily dominate their narrow merchandise category. PTS: 1 REF: 193 OBJ: 13-3 TYPE: App TOP: AACSB Technology | TB&E Model Online/Computer | TB&E Model Product 42. Specialty stores such as Office Depot, Bed Bath & Beyond, and Staples are often called category killers because:
ANS: A
Because these stores dominate their narrow merchandise segment, they are called category killers. PTS: 1 REF: 193 OBJ: 13-3 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Distribution 43. _____ sell a limited selection of brand-name appliances, household items, and groceries, usually in bulk on a cash-and-carry basis to members only.
ANS: E PTS: 1 REF: 194 OBJ: 13-3 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Product 44. A warehouse membership club:
ANS: D
Warehouse clubs sell to small businesses and ultimate consumers. They maintain low inventory holding costs because they carry a limited assortment of fast-moving items. PTS: 1 REF: 194 OBJ: 13-3 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Customer 45. Laura buys supplies for her catering business at a retailer that stocks a limited selection of items, which are sold in bulk on a cash-and-carry basis to members only. As she browses through a huge store, she buys flour, a set of muffin pans, and a package of paper towels as well as an assortment of fresh produce. Laura is most likely shopping at a(n):
ANS: D
Warehouse clubs sell a limited selection of brand-name appliances, household items, and groceries, usually in bulk on a cash-and-carry basis to members only. PTS: 1 REF: 194 OBJ: 13-3 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Customer | TB&E Model Product 46. Off-price retailers:
ANS: A
Off-price retailers buy manufacturers' overruns at cost or even less. PTS: 1 REF: 194 OBJ: 13-3 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Pricing 47. A publisher of books on holiday decorating, cooking, and crafts has to find a way to dispose of its overrun and unsold end-of-season output. As a marketing consultant, you suggest the firm sell the merchandise to:
ANS: E
Off-price discount retailers purchase goods at cost or less from manufacturers' overruns, bankruptcies, irregular stock supplies, and unsold end-of-season output. The other four categories may be current customers and would not have a use for the overruns and out-of-season stock. PTS: 1 REF: 194 OBJ: 13-3 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Product | TB&E Model Pricing 48. A _____ is an off-price retailer that is owned and operated by a manufacturer and carries one line of merchandise--its own.
ANS: B PTS: 1 REF: 194 OBJ: 13-3 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Product | TB&E Model Pricing
ANS: C A factory outlet is a type of off-price retailer that is owned and operated by a manufacturer and carries one line of merchandise--its own. PTS: 1 REF: 194 OBJ: 13-3 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Product 50. Which of the following statements about restaurants is true?
ANS: D
According to the text, restaurants straddle the line between a retailing establishing and a service industry. Time poverty is not a demographic factor. At the moment food service companies are generally overexpanded. PTS: 1 REF: 194 OBJ: 13-3 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Customer | TB&E Model Product 51. _____ refers to shopping without visiting a store and is currently growing faster than in-store shopping because of the consumer demand for convenience.
ANS: A PTS: 1 REF: 195 OBJ: 13-4 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Customer 52. Which of the following statements about nonstore retailing is true?
ANS: B
Nonstore retailing refers to shopping without visiting a store; convenience is playing a major role in the growth of nonstore business. PTS: 1 REF: 195 OBJ: 13-4 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Strategy 53. _____ is a low-profile, yet important, form of retailing in which consumers get products out of automated machines, and it accounts for $40 billion worth of sales each year in the United States.
ANS: A PTS: 1 REF: 195 OBJ: 13-4 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Customer | TB&E Model Product 54. Manufacturers of Pampered Chef kitchen equipment and Longaberger baskets utilize party plan selling. The sales transactions usually occur in a home setting. This form of nonstore retailing is called:
ANS: A PTS: 1 REF: 195 OBJ: 13-4 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Pricing
ANS: E Direct retailing includes door-to-door selling and party plans. PTS: 1 REF: 195 OBJ: 13-4 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Customer 56. To counter decreasing sales, U.S. direct sales retailers are:
ANS: E PTS: 1 REF: 196-197 OBJ: 13-4 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Pricing 57. _____ refers to the techniques used to get consumers to buy from their home. Those techniques include direct mail, catalogs and mail order, telemarketing, and electronic retailing.
ANS: D PTS: 1 REF: 196-197 OBJ: 13-4 TYPE: Def TOP: AACSB Diversity | TB&E Model Strategy | TB&E Model Customer 58. Irina Gomez has decided to sell a sourcebook of Hispanic American suppliers to southeastern businesses in predominantly Hispanic areas. She plans to call prospective customers and try to sell to them over the phone. Gomez will be using which of the following retailing techniques?
ANS: E
Direct-response marketing (also called direct marketing) techniques include direct mail, catalogs, telemarketing, and electronic retailing. PTS: 1 REF: 196-197 OBJ: 13-4 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Strategy | TB&E Model Customer 59. Marketers can precisely target their customers according to demographics, geographics, and psychographics with:
ANS: A PTS: 1 REF: 196 OBJ: 13-4 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Strategy | TB&E Model Customer 60. _____ is the use of a telephone to sell directly to customers.
ANS: A PTS: 1 REF: 196-197 OBJ: 13-4 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Strategy 61. Telemarketing can consist of either unsolicited _____ sales calls, or _____ sales calls, which allow companies to receive orders through toll-free telephone numbers.
ANS: E
Outbound telemarketing is generally used for unsolicited selling, while inbound calls are from customers placing orders. PTS: 1 REF: 196-197 OBJ: 13-4 TYPE: Def TOP: AACSB Technology | TB&E Model Strategy 62. Sunni received a phone call last night during supper. The caller wanted her to subscribe to a travel magazine. Since Sunni had never thought of purchasing this type of magazine before she received the call, this is obviously an example of _____ telemarketing.
ANS: A
Outbound telemarketing is generally used for unsolicited selling. PTS: 1 REF: 196 OBJ: 13-4 TYPE: App TOP: AACSB Technology | TB&E Model Strategy
ANS: C Using a TV channel to display goods that are sold over the phone is the shop-at-home network format. PTS: 1 REF: 197 OBJ: 13-4 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Strategy | TB&E Model Product 64. The Cedar Store carries a full line of cedar swings, gliders, garden benches, and tables. All of its products can be purchased through its Web site. The site has done well since the Cedar Store's products do not need to be touched or smelled before purchase. The Cedar Store is engaging in:
ANS: A Online retailing is a two-way interactive service offered to users with personal computers. PTS: 1 REF: 197 OBJ: 13-4 TYPE: App TOP: AACSB Technology | TB&E Model Product 65. Which of the following statements about online retailing is true?
ANS: C
Online retailing is called either electronic retailing or e-tailing. Online shopping has been and is growing at an astonishing rate. Internet auctions are a fairly new phenomenon. PTS: 1 REF: 197 OBJ: 13-4 TYPE: Comp TOP: AACSB Technology | TB&E Model Online/Computer 66. A(n) _____ is a continuing relationship in which an individual or business grants business rights to operate or sell a product to another individual or business.
ANS: D PTS: 1 REF: 198 OBJ: 13-5 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Distribution 67. Which of the following is NOT a reason why individuals may be tempted to buy a franchise business rather than develop their own independent business?
ANS: A
The ties to the franchisor's policies may be very restrictive for an innovative businessperson because certain products and procedures must be adhered to. PTS: 1 REF: 198 OBJ: 13-5 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Product 68. A retailer in Peoria, Illinois, is licensed to sell Snapper lawn mowers. This retailer is a:
ANS: A
In product and trade name franchising, a dealer agrees to buy or sell certain products or product lines from a supplier. PTS: 1 REF: 198 OBJ: 13-5 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Product 69. The earliest example of the use of franchising occurred in the sale of products to housewives located on the American prairie. In 1851, Isaac Singer sold traveling independent salesmen the rights to sell his sewing machines to end users. What type of franchising was this an example of?
ANS: C
In product and trade name franchising, a dealer agrees to buy or sell certain products or product lines from a supplier. PTS: 1 REF: 198 OBJ: 13-5 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Product 70. Breit Ideas is an online retailer that is licensed to sell products designed by Mary Engelbreit--everything from Christmas ornaments and books to wallpaper and toys. Breit Ideas is an example of a:
ANS: A PTS: 1 REF: 198 OBJ: 13-5 TYPE: App TOP: AACSB Technology | TB&E Model Online/Computer | TB&E Model Product 71. General Nutrition Center, Uniglobe Travel, and Wendy’s are all examples of _____ because the franchisee buys the right to use the franchisor’s approach to doing business.
ANS: C Business format franchising is an ongoing relationship between a franchisor and a franchisee in which the franchisor sells a franchisee the rights to use a format or approach to doing business. PTS: 1 REF: 198 OBJ: 13-5 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Strategy 72. Arby's, Jiffy-Lube, Baskin-Robbins, and Sylvan Learning Centers are examples of _____ because the franchisee buys the right to use the franchisor’s approach to doing business.
ANS: C Business format franchising is an ongoing relationship between a franchisor and a franchisee in which the franchisor sells a franchisee the rights to use a format or approach to doing business. PTS: 1 REF: 198 OBJ: 13-5 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Strategy 73. The first task of developing a retail strategy is to:
ANS: C
The target market's wants and needs form the foundation for a successful retail strategy. PTS: 1 REF: 199 OBJ: 13-6 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Strategy 74. Retailers control the six Ps of the retailing mix. The six Ps include the marketing mix plus:
ANS: A
See Exhibit 13.2. PTS: 1 REF: 199-200 OBJ: 13-6 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Strategy
ANS: B Retailers are altering several aspects of the six Ps of the retailing mix. See Exhibit 13.5. PTS: 1 REF: 199-200 OBJ: 13-6 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Customer | TB&E Model Product 76. The merchandise mix:
ANS: E PTS: 1 REF: 200 OBJ: 13-6 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Strategy 77. Data mining:
ANS: B PTS: 1 REF: 200 OBJ: 13-6 TYPE: Def TOP: AACSB Technology | TB&E Model Strategy 78. A marketing research company has created a database that contains monthly average retail price data for selected cuts of beef, pork, chicken, turkey, lamb, and veal. In addition to prices of various cuts of meat, the database includes information on the volume sold and the volume of "featured" products sold under retailers' weekly advertised specials and frequent shopper discounts. These data are collected at the point of sale by supermarkets using electronic scanners in checkout lines. The database allows users to use _____ to determine what meat should be stocked and when it should be stocked.
ANS: A
Data mining uses complex mathematical models to help retailers make better product mix decisions. PTS: 1 REF: 200 OBJ: 13-6 TYPE: App TOP: AACSB Technology | TB&E Model Strategy 79. As competition in the retail industry has intensified, Office Depot has begun selling a _____ of office furnishings with the Christopher Lowell brand. Office Depot is the only place that you will find the Christopher Lowell brand. The prices of this merchandise are lower than prices for national brands and give consumers greater value.
ANS: A Private brands are designed and developed by the retailer. PTS: 1 REF: 201 OBJ: 13-6 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Product | TB&E Model Pricing 80. Which U.S. retailer is the number one sales volume retailer in the world?
ANS: E PTS: 1 REF: 189 | 193 OBJ: 13-6 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Distribution 81. Passport Furniture is a manufacturer of fine home furnishings. It offers to share the costs (up to 5 percent of the amount of products purchased by the retailer) of advertising with any retailer that carries its line of furniture. Retailers who took advantage of this offer would use:
ANS: B Cooperative advertising is a collaborative effort in which both the retailer and the manufacturer share the costs and benefits. PTS: 1 REF: 201 OBJ: 13-6 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Promotion 82. Why is the selection of a retail location so critical to a store's success?
ANS: D
One critical point about location choice is that it ties up a large amount of resources and is difficult to change. PTS: 1 REF: 201 OBJ: 13-6 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Strategy 83. When opening a new retail operation, the retailer needs to consider all of the following factors EXCEPT:
ANS: B
Employee density is concerned with the amount of employees per 1,000 square feet in the store--not in the neighborhood. The other four factors are to be considered when deciding on a location. PTS: 1 REF: 202 | 203 OBJ: 13-6 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Strategy 84. Which of the following statements about a retailer's promotion strategy is true?
ANS: B
Promotion is part of the retailing mix. Most advertising for retailers is carried out at the local level. Retailers have been very successful with direct marketing. PTS: 1 REF: 199 OBJ: 13-6 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Strategy | TB&E Model Promotion 85. _____ are stores that consumers purposely plan to visit. They are often built as freestanding stores.
ANS: A PTS: 1 REF: 201 OBJ: 13-6 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Distribution
ANS: C PTS: 1 REF: 201 OBJ: 13-6 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Distribution 87. Large retailers such as Target and Wal-Mart and sellers of shopping goods such as automobiles and furniture often use _____ for their locations.
ANS: D PTS: 1 REF: 201 OBJ: 13-6 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Distribution 88. The Summer Place has decided consumers will be drawn to its offering of wicker furniture and will even be willing to drive out of their way. The store really needs to keep its overhead costs (such as rent) low and wants to avoid locating near competitors. For a location, the Summer Place will probably choose a:
ANS: C
A freestanding store has the advantage of low site costs and will be a benefit if consumers are willing to seek it out. PTS: 1 REF: 201 OBJ: 13-6 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Distribution | TB&E Model Customer 89. _____ place a diverse group of retailers together in one location. This form of retail location first became popular in the 1950s when the U.S. population started migrating to the suburbs.
ANS: B PTS: 1 REF: 201-202 OBJ: 13-6 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Distribution 90. Geoff Hudson wants to open a specialty store to sell sports memorabilia and is considering locating it in a regional shopping mall. Before opening his new store, he needs to understand:
ANS: C
Malls have unified images, convenient parking, and expensive leases. The mall atmosphere and other stores will attract shoppers. PTS: 1 REF: 201-202 OBJ: 13-6 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Distribution | TB&E Model Marketing Plan 91. A specialty store is considering locating a retail store in a regional shopping mall. Which of the following is NOT a likely benefit associated with a location in a mall?
ANS: E
Leases are usually expensive. PTS: 1 REF: 201 OBJ: 13-6 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Distribution 92. The newest generation of shopping centers is:
ANS: C PTS: 1 REF: 202 OBJ: 13-6 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Distribution 93. Which group is the targeted market by lifestyle centers?
ANS: D PTS: 1 REF: 202 OBJ: 13-6 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Customer
ANS: A Price would best indicate this store's classification and position. PTS: 1 REF: 202 OBJ: 13-6 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Strategy | TB&E Model Pricing 95. Another name for an anchor store is a _____.
ANS: B PTS: 1 REF: 202 OBJ: 13-6 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Distribution 96. Anchor stores (or generator stores):
ANS: B
Anchors are the large stores at the ends of shopping malls and may sell a variety of products PTS: 1 REF: 202 OBJ: 13-6 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Distribution
ANS: C There is typically more than one anchor store in any mall. Freestanding stores are destination stores. PTS: 1 REF: 202 OBJ: 13-6 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Distribution 98. In September 2005, JCPenney opened a 97,000-plus square foot anchor store in the new West Grand Promenade. One advantage that JCPenney has because it is inside the shopping center is:
ANS: E Lease agreements are expensive and do dictate hours of operation. Direst competition can be a disadvantage. One of the advantages of shopping centers is ample parking places. PTS: 1 REF: 202 OBJ: 13-6 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Distribution 99. Many technologically advanced retailers are using a technique called _____ to analyze the huge amounts of data collected through their point-of-purchase scanning equipment. The analysis looks for products that are commonly purchased together to help retailers merchandise their stores to place products in the right places.
ANS: A PTS: 1 REF: 203 OBJ: 13-6 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Strategy 100. A recent pricing trend among retailers is EDLP, which stands for:
ANS: D PTS: 1 REF: 202 OBJ: 13-6 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Pricing 101. The main element of a store's presentation is its _____, or the overall impression conveyed by the store's physical layout, decor, and surroundings.
ANS: D PTS: 1 REF: 202-203 OBJ: 13-6 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Creativity 102. Texas-based Grape Vine Market is an 18,000-square-foot store offering highly collectible food and wine. Greeted by warm lighting, a muted color scheme, and REM or Fleetwood Mac on the sound system, customers first enter the wine department, a 10,000-square-foot oval featuring more than 5,500 labels from around the world. There are no aisles; instead racks are arranged asymmetrically to create flow and movement. This description is of the store's:
ANS: B The main element of a store's presentation is its atmosphere, how the store's physical layout, decor, and surroundings convey an overall impression. PTS: 1 REF: 202-203 OBJ: 13-6 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Creativity 103. Which of the following can Texas-based Grape Vine Market use to create its store atmosphere?
ANS: E The main element of a store's presentation is its atmosphere, how the store's physical layout, decor, and surroundings convey an overall impression. PTS: 1 REF: 202-204 OBJ: 13-6 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Product 104. The Home Depot has selected orange as its corporate color. It's a good choice. At the gut level, orange connotes happiness and warmth. A recent article in one of the company's advertising brochures spoke about choosing colors for home decorating. It referred to this color as "joyful orange" The color orange is part of the _____ at The Home Depot stores.
ANS: B Color is a main ingredient of a retail atmosphere. PTS: 1 REF: 204 OBJ: 13-6 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Creativity 105. Whenever a customer buys a stencil at Stencil Works, a sales clerk asks the customer whether she needs brushes, paints, or tape for her stenciling project. In other words, the sales clerk engages in:
ANS: A Suggestion selling seeks to broaden customers' original purchase with related items. PTS: 1 REF: 204 OBJ: 13-6 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Customer | TB&E Model Pricing 106. When Boris went into Sears to buy his wife a new iron for her birthday, he only planned to spend about $30, but the sales clerk was able to show him the superiority of a $60 iron to the less expensive model. In this example, the sales clerk engaged in:
ANS: B
Trading up means persuading customers to buy a higher-priced item than the one they intended to buy. PTS: 1 REF: 204 OBJ: 13-6 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Customer | TB&E Model Pricing 107. Toy Lab is a small retailer where children can design and assemble toys from bins of brightly colored parts. Each child starts in the “Dream It” section of the store by drawing a picture of his or her toy on a large piece of paper. Then, the child moves to the “Pick Your Pieces” area of the store to select the parts he or she needs to create the toy. Finally, the child moves to the “Build It” area to assemble the colored parts on large tables and put the final toy in a special box. Toy Lab is part of a recent trend in retailing, which the text calls:
ANS: E Interactivity is used to differentiate one store from another. Interactivity gets customers involved in the retailing experience. PTS: 1 REF: 205 OBJ: 13-7 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Creativity 108. Texas-based Grape Vine Market is an 18,000-square-foot store offering highly collectible food and wine—along with some other culinary perks, including a cooking school—all in a setting crafted to make shoppers feel comfortable. Greeted by warm lighting, a muted color scheme, and REM or Fleetwood Mac on the sound system, customers first enter the wine department, a 10,000-square-foot oval featuring more than 5,500 labels from around the world. There are no aisles; instead racks are arranged asymmetrically to create flow and movement. The Grape Vine Market uses _____ to differentiate itself from supermarkets.
ANS: E Interactivity is used to differentiate one store from another. Interactivity gets customers involved in the retailing experience. PTS: 1 REF: 205 OBJ: 13-7 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Creativity 109. Interactivity is one of the new developments in retailing. In retailing, interactivity refers to:
ANS: C PTS: 1 REF: 205 OBJ: 13-7 TYPE: Def TOP: AACSB Technology | TB&E Model Strategy 110. One of the new developments in retailing is m-commerce. The m- in commerce stands for:
ANS: E PTS: 1 REF: 205 OBJ: 13-7 TYPE: Def TOP: AACSB Technology | TB&E Model Strategy 111. One of the new developments in retailing is m-commerce. M-commerce refers to the ability to:
ANS: D PTS: 1 REF: 205 OBJ: 13-7 TYPE: Def TOP: AACSB Technology | TB&E Model Strategy 112. Les Ailes de la Mode is a Quebec retailer that has built its name around customer relationships. The specialty department store creates relationships with its customers through their experiences in the store. Its vice-president of marketing has said, "We are here to build a very good personalized experience--it's not just a matter of marketing strategy, it's our mission. " The shopping experience at the store includes "little extras" like free coat check, free shoeshines, baby feeding rooms, a highly trained staff (and more of them on the floor), and a place for people to go to read the newspaper. This is an example of:
ANS: C PTS: 1 REF: 204 OBJ: 13-6 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Customer | TB&E Model Product Directory: ~ecarter2 ~ecarter2 -> SP14 mktg 490 case analysis – product/brand strategy – samsung electronics ~ecarter2 -> The menu of mktg 490 cases [Dr. Carter] ~ecarter2 -> Real-world Download 3.11 Mb. Share with your friends:
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