Question 1

A kiosk offers:

Accepted Answer

A)  cash payments. 
B)  instant gratification. 
C)  risk reduction. 
D)  access to loyalty program information. 
E)  personalized offerings and personalized customer service. 
A)  cash payments. 
B)  instant gratification. 
C)  risk reduction. 
D)  access to loyalty program information. 
E)  personalized offerings and personalized customer service.

Question 2

Wellcome is a retail store that sells personal grooming items,cosmetics,and medicines.It also sells some snacks.Wellcome is an example of a:

Accepted Answer

A)  department store. 
B)  drugstore. 
C)  discount store. 
D)  convenience store. 
E)  hypermarket. 
A)  department store. 
B)  drugstore. 
C)  discount store. 
D)  convenience store. 
E)  hypermarket.

Question 3

Which of the following organize a broad variety of merchandise based on categories and,hence,resemble a collection of specialty shops?

Accepted Answer

A)  Specialty stores 
B)  Drug stores 
C)  Traditional grocery stores 
D)  Convenience stores 
E)  Department stores 
A)  Specialty stores 
B)  Drug stores 
C)  Traditional grocery stores 
D)  Convenience stores 
E)  Department stores

Question 4

A traditional grocery store continues to thrive in the competitive food market by:

Accepted Answer

A)  offering a wide variety of products,including food and many nonfood items. 
B)  specializing in a particular product category. 
C)  increasing the spending on advertising. 
D)  providing large discounts on perishable products. 
E)  finding special products and services that are important to their customers. 
A)  offering a wide variety of products,including food and many nonfood items. 
B)  specializing in a particular product category. 
C)  increasing the spending on advertising. 
D)  providing large discounts on perishable products. 
E)  finding special products and services that are important to their customers.

Question 5

Which of the following retail channels has the potential to facilitate market expansion for traditional retailers and offer personalized information about products and services economically?

Accepted Answer

A)  Kiosks 
B)  Stores 
C)  Catalogues 
D)  Mail order 
E)  The Internet 
A)  Kiosks 
B)  Stores 
C)  Catalogues 
D)  Mail order 
E)  The Internet

Question 6

Why do retailers develop private-label brands? Give an example.

Accepted Answer

It is difficult for retailers to disting

Question 7

Which of the following provide a consistent experience for customers that helps overcome the difficulty of not being able to touch and feel merchandise prior to purchase online?

Accepted Answer

A)  Presentation 
B)  Kiosks 
C)  Catalogues 
D)  Promotion 
E)  Brands 
A)  Presentation 
B)  Kiosks 
C)  Catalogues 
D)  Promotion 
E)  Brands

Question 8

Explain briefly how the retail landscape has metamorphosized into a value-driven world.

Accepted Answer

Student answers will vary. Students shou

Question 9

Which of the following best determines the level of difficulty a manufacturer has in getting retailers to purchase its products?

Accepted Answer

A)  The level of sophistication of the product 
B)  Customer expectations 
C)  The relative power of the manufacturer and retailer 
D)  Product line complexity 
E)  Advertising expenditure 
A)  The level of sophistication of the product 
B)  Customer expectations 
C)  The relative power of the manufacturer and retailer 
D)  Product line complexity 
E)  Advertising expenditure

Question 10

Jill's Boutique is an example of a:

Accepted Answer

A)  convenience store. 
B)  discount store. 
C)  department store. 
D)  warehouse club. 
E)  specialty store. 
A)  convenience store. 
B)  discount store. 
C)  department store. 
D)  warehouse club. 
E)  specialty store.

Question 11

The benefit of touching and feeling merchandise when examining products is provided by which channel?

Accepted Answer

A)  Kiosk 
B)  Store 
C)  Catalogue 
D)  Mail order 
E)  Internet 
A)  Kiosk 
B)  Store 
C)  Catalogue 
D)  Mail order 
E)  Internet

Question 12

Buy Easy is an electronics retailer that sells branded electronic goods.To increase sales,one laptop manufacturer enters an agreement to bear costs of advertising its products prominently at Buy Easy checkout counters.The marketing mix element that is being used to create Buy Easy's retail strategy is:

Accepted Answer

A)  process. 
B)  promotion. 
C)  place. 
D)  price. 
E)  people. 
A)  process. 
B)  promotion. 
C)  place. 
D)  price. 
E)  people.

Question 13

What limitations do store-based retailers face when marketing products?

Accepted Answer

One of the main constraints faced by sto

Question 14

Which of the following is a constraint faced by store-based retailers?

Accepted Answer

A)  Inconsistent execution 
B)  Risk reduction 
C)  Instant gratification 
D)  Personal service 
E)  Lack of updated information 
A)  Inconsistent execution 
B)  Risk reduction 
C)  Instant gratification 
D)  Personal service 
E)  Lack of updated information

Question 15

Which of the following helps firms to provide as much information as each customer wants and considerably reduces cost of adding information?

Accepted Answer

A)  Internet channels 
B)  Store-based retailers 
C)  Merchandise manufacturers 
D)  Wholesalers 
E)  Catalogues 
A)  Internet channels 
B)  Store-based retailers 
C)  Merchandise manufacturers 
D)  Wholesalers 
E)  Catalogues

Question 16

Store-based retailers can leverage their stores to lower the cost of fulfilling orders and processing returned merchandise if they use the stores as "warehouses" for gathering merchandise.

Accepted Answer

A) True 
 B)False

Question 17

The challenge faced by retailers while selling products through the Internet is the inability to provide:

Accepted Answer

A)  detailed information of products. 
B)  a broader selection of products. 
C)  touch-and-feel information to customers. 
D)  step-by-step solutions to customer problems. 
E)  personalized customer service. 
A)  detailed information of products. 
B)  a broader selection of products. 
C)  touch-and-feel information to customers. 
D)  step-by-step solutions to customer problems. 
E)  personalized customer service.

Question 18

Access to wish lists,gift registries,and loyalty program information is a benefit offered by the:

Accepted Answer

A)  catalogue channel. 
B)  Internet channel. 
C)  kiosk channel. 
D)  mail order channel. 
E)  store channel. 
A)  catalogue channel. 
B)  Internet channel. 
C)  kiosk channel. 
D)  mail order channel. 
E)  store channel.

Question 19

An adventure sports products retailer tries a new sales strategy by installing a rock climbing facility within the retail outlet,giving customers an opportunity to try out ropes and grips before buying them.Which of the following elements of the marketing mix is being used by the retailer in this scenario?

Accepted Answer

A)  Price 
B)  Place 
C)  Process 
D)  People 
E)  Promotion 
A)  Price 
B)  Place 
C)  Process 
D)  People 
E)  Promotion

Question 20

Toy Castle is a retail chain that sells a wide range of toys.During Christmas,it sells a special,limited edition collector's box,containing rare toys at a marginally higher value.Sales increase for this item as customers believe that they are really getting value for their money.Which of the following elements of the marketing mix is Toy Castle using to create its retail strategy?

Accepted Answer

A)  Place 
B)  Promotion 
C)  Price 
D)  People 
E)  Process 
A)  Place 
B)  Promotion 
C)  Price 
D)  People 
E)  Process

A kiosk offers:

Wellcome is a retail store that sells personal grooming items,cosmetics,and medicines.It also sells some snacks.Wellcome is an example of a:

Which of the following organize a broad variety of merchandise based on categories and,hence,resemble a collection of specialty shops?

A traditional grocery store continues to thrive in the competitive food market by:

Which of the following retail channels has the potential to facilitate market expansion for traditional retailers and offer personalized information about products and services economically?

Why do retailers develop private-label brands? Give an example.

Which of the following provide a consistent experience for customers that helps overcome the difficulty of not being able to touch and feel merchandise prior to purchase online?

Explain briefly how the retail landscape has metamorphosized into a value-driven world.

Which of the following best determines the level of difficulty a manufacturer has in getting retailers to purchase its products?

Jill's Boutique is an example of a:

The benefit of touching and feeling merchandise when examining products is provided by which channel?

What limitations do store-based retailers face when marketing products?

Which of the following is a constraint faced by store-based retailers?

Which of the following helps firms to provide as much information as each customer wants and considerably reduces cost of adding information?

Store-based retailers can leverage their stores to lower the cost of fulfilling orders and processing returned merchandise if they use the stores as "warehouses" for gathering merchandise.

The challenge faced by retailers while selling products through the Internet is the inability to provide:

Access to wish lists,gift registries,and loyalty program information is a benefit offered by the:

Overview of Marketing

Developing Marketing Strategies and a Marketing Plan

Marketing Ethics

Analyzing the Market Environment

Consumer Behavior

Business-To-Business Marketing

Global Marketing

Segmentation, Targeting, and Positioning

Marketing Research

Product, Branding, and Packaging Decisions

Developing New Products

Services: The Intangible Product

Strategic Pricing Methods

Supply Chain and Channel Management

Retailing and Multichannel Marketing

Integrated Marketing Communications

Advertising, Public Relations, and Sales Promotions

Filters

Exam 13: Pricing Concepts for Establishing Value

A kiosk offers:

Wellcome is a retail store that sells personal grooming items,cosmetics,and medicines.It also sells some snacks.Wellcome is an example of a:

Which of the following organize a broad variety of merchandise based on categories and,hence,resemble a collection of specialty shops?

A traditional grocery store continues to thrive in the competitive food market by:

Which of the following retail channels has the potential to facilitate market expansion for traditional retailers and offer personalized information about products and services economically?

Why do retailers develop private-label brands? Give an example.

Which of the following provide a consistent experience for customers that helps overcome the difficulty of not being able to touch and feel merchandise prior to purchase online?

Explain briefly how the retail landscape has metamorphosized into a value-driven world.

Which of the following best determines the level of difficulty a manufacturer has in getting retailers to purchase its products?

Jill's Boutique is an example of a:

The benefit of touching and feeling merchandise when examining products is provided by which channel?

What limitations do store-based retailers face when marketing products?

Which of the following is a constraint faced by store-based retailers?

Which of the following helps firms to provide as much information as each customer wants and considerably reduces cost of adding information?

Store-based retailers can leverage their stores to lower the cost of fulfilling orders and processing returned merchandise if they use the stores as "warehouses" for gathering merchandise.

The challenge faced by retailers while selling products through the Internet is the inability to provide:

Access to wish lists,gift registries,and loyalty program information is a benefit offered by the:

Overview of Marketing

Developing Marketing Strategies and a Marketing Plan

Marketing Ethics

Analyzing the Market Environment

Consumer Behavior

Business-To-Business Marketing

Global Marketing

Segmentation, Targeting, and Positioning

Marketing Research

Product, Branding, and Packaging Decisions

Developing New Products

Services: The Intangible Product

Strategic Pricing Methods

Supply Chain and Channel Management

Retailing and Multichannel Marketing

Integrated Marketing Communications

Advertising, Public Relations, and Sales Promotions

Filters