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44 Cards in this Set
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According to lecture, retailers can be classified based on the form of ownership and their marketing strategies. Which would describe Sears? Answers: a. Independent retailer with broad and deep product assortment b. Franchise with moderate prices c. Retail cooperative with varying levels of personal service d. A voluntary chain with narrow and shallow assortment of products e. A corporate chain with broad and relatively deep product assortments |
A corporate chain with broad and relatively deep product assortments |
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A large retailer which has economic clout with its suppliers is able to sell products at a price which is far below the competition. It has a practice of going into a town, selling its products at very low prices until the competition goes out of business, and the raising its prices back to the "normal" ones seen in this market. This would be seen as: Answers: a. Deceptive Pricing b. Predatory Pricing c. Price Discrimination d. Price Fixing e. Competitive Pricing |
Predatory pricing |
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In class, we noted that net profits for retailers vary quite a bit. What did we say might be typical net profit as a percent of sales for "specialized retailers"? a. 1% b. 3% c. 5% d. 7% e. 10% or more |
10% or more |
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Based on lecture, which of the following is the best representation of a conventional marketing channel? a. A Vertical Marketing System b. Corporate Ownership of the channel members c. Individual, independent channel members focusing on their own needs d. A franchise system e. A contractual marketing system |
Individual, independent channel members focusing on their own needs |
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Ann recently saw an ad for Claritin, a medicine perfect for counteracting her allergy symptoms. She immediately went to the store to purchase the product. In terms of the communication process, the Claritin ad created a(n) __________. a. stimulus b. exposure c. field of experience d. subconscious impulse e. response |
response A response is the impact the message has on the receiver's knowledge, attitudes, or behaviors. |
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An important factor in developing successful IMC programs is to create a process that facilitates their design and use. A tool used to evaluate a company's current process is the IMC a. audit. b. sensitivity analysis. c. what-if analysis. d. perceptual map. e. pretest. |
audit |
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According to Figure 16-10 above, market share reaches its highest level during which stage of the retail life cycle? a. early growth b. accelerated development c. decline d. maturity e. either early growth or maturity |
maturity |
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According to Figure 16-10 above, "D" represents which stage of the retail life cycle? a. deceleration b. early growth c. accelerated development d. maturity e. decline |
decline |
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An off-price retailer that requires customers to purchase an annual membership card for the privilege of shopping at the store is referred to as a __________. a. outlet store b. single-price retailer c. hypermarket d. warehouse club e. supercenter |
warehouse club |
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You probably own several pairs of shoes. Further, it is likely you purchased those shoes at retail stores located in a shopping mall and not directly from the manufacturer. In fact, most products are brought to you from a series of other individuals or firms known as a __________. a. marketing network b. distribution hierarchy c. marketing chain d. distribution matrix e. marketing channel |
marketing channel |
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In class, we learned that there are "other intermediaries" which aid the distribution process. These other intermediaries rarely take title to the product and are not active in purchase or sales activities. These include: a. Banks b. Insurance companies c. Transportation companies d. Both banks and insurance companies, but not transportation companies. e. Banks, insurance companies, AND transportation companies. |
Banks, insurance companies, AND transportation companies. |
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According to the lecture, if you want to create mass awareness for your new "Choco-Marks" cereal, you would NOT be likely to use: a. advertising b. sales promotions c. publicity d. personal selling e. You would want to use ALL of the tools listed above. |
personal selling |
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n class, we talked about the distribution channels used by Dell computers. One way that Dell sells computers is by allowing customers to go to the Dell web site and to create their own "customized" computer, which is then built to the customer's specifications and shipped to the customer's home. What type of distribution channel does this represent? a. A direct channel b. An indirect channel c. A business marketing channel d. An industrial distribution channel e. A manufacturer's rep channel |
direct channel |
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According to the lecture, if your target audience is concentrated in a limited geographic area, what type of promotion would you be most likely to use? a. Television Advertising b. Advertising in a magazine, like Time or Newsweek c. Public Relations efforts d. Personal Selling e. Actually, the lecture suggested that ANY of these could work in that situation. |
personal selling |
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A level of distribution density whereby a firm tries to place its products in a few retail outlets in a specific geographical area is referred to as __________. a. intensive distribution b. extensive distribution c. selective distribution d. exclusive distribution e. concentrated distribution |
selective distribution |
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Pharmaceutical companies now spend more than $3.4 billion annually on __________ prescription drug advertising to complement traditional personal selling and free samples directed only at doctors. a. consumer integrated b. doctor cohort c. informational DVD d. direct-to-consumer e. customized on-line |
direct to consumer |
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Offering several unrelated product lines in a single store is referred to as __________. a. intertype competition b. multiple distribution c. scrambled merchandising d. a department store e. a specialty outlet |
scrambled merchandising |
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Which of the following statements regarding managing the customer experience is MOST ACCURATE? a. As more women enter the upper levels of industry, retailers are paying less attention to men and their shopping behavior. b. Some mass merchandisers are considering "man aisles" to appeal to male shoppers. c. Men will shop for electronics but leave the majority of their clothing shopping to their wives. d. Making the retail environment a sparse one appeals to male shoppers who value efficiency. e. Men prefer to shop in a social environment so they can avoid shopping alone at all costs. |
b |
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In lecture, we noted that: a. SCM replaces what we have previously learned about management, eliminating past practices b. SCM both replaces what we have previously learned about management, and builds on our past practices c. SCM does not replace what we have learned about management, but rather builds on our past practices d. SCM does not replace what we have learned about management, but does eliminate our past practices e. SCM is already going out of style in the world of marketing management |
SCM does not replace what we have learned about management, but rather builds on our past practices |
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In lecture we saw an ad for Pine-Sol household cleaner. The ad imitated the romantic setting of perfume ads. We noted that the main goal of the ad was: a. to INFORM consumers about the good smell of Pine-Sol. b. to INFORM consumers about a new use of Pine-Sol as a perfume. c. to PERSUADE consumers to shift from their current household cleaner to Pine-Sol because of its cleaning strength. d. to REMIND consumers about this "mature" product. e. to get consumers to BUY the product "now!" |
to REMIND consumers about this "mature" product. |
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For a promotional campaign, the hierarchy of effects refers to the stages a prospective buyer goes through, which include: a. awareness, interest, evaluation, trial, and rejection. b. interest, adoption, and brand loyalty. c. cognitive, affective, and behavioral. d. awareness, interest, evaluation, trial, and adoption. e. see an ad, try the product, buy the product, and buy the product again. |
awareness, interest, evaluation, trial, and adoption. |
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In the telemarketing industry, issues such as consumer privacy, __________, and industry standards have become a topic of discussion among consumers, Congress, the Federal Trade Commission (FTC), and businesses. a. product quality b. price differences c. ethical guidelines d. on-time delivery e. competitive antics |
ethical guidelines |
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Retailers that advocate an everyday fair pricing strategy may not offer the lowest prices but try to create value for customers, what decision factor becomes important in this situation? a. brand name of the product b. product benefits c. convenience d. perceived quality e. the total buying experience |
the total buying experience |
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Coal, lumber, and chemicals, which are sold in extremely large quantities, are traditionally sold by which type of wholesaler? a. cash and carry wholesalers b. rack jobbers c. truck jobbers d. general merchandise wholesalers e. drop shippers |
drop shippers |
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Franchising is one form of a(n) __________. a. corporate vertical marketing system b. horizontal marketing system c. administered vertical marketing system d. wholesaler-sponsored voluntary system e. contractual vertical marketing system |
contractual vertical marketing system |
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Which type of wholesaler offers a relatively narrow range of products but has an extensive assortment within the product lines carried? a. general merchandise wholesaler b. limited-service wholesaler c. cash and carry wholesaler d. specialty merchandise wholesaler e. drop shipper |
specialty merchandise wholesaler |
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According to the lecture, which one of the following is a "new" role for the promotion mix? a. To inform prospective buyers about the benefits of the product b. To persuade prospective buyers to try our brand c. To remind customers later about the benefits they enjoyed by using the product d. To build relationships with consumers e. To let consumers know about "new media" choices |
To build relationships with consumers |
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In class, we considered the case of Black & Decker, who chose to use the internet to advertise their products but decided NOT to sell their products directly to consumers. Instead, their web site directs consumers to Black & Decker's distributors (on the web and in stores). By taking this approach, Black & Decker has avoided: a. middlemen b. Spain c. competition d. unfair competition e. disintermediation |
disintermediation |
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According to the lecture, which channel relationship accounts for the greatest dollar volume of business products? a. Producer to Retailer to Consumer b. Producer to Wholesaler to Retailer to Consumer c. Producer to Business Distributor to Business Customer d. Producer to Business Customer e. Multiple Distribution Channels |
producer to business customer |
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Retailers like Williams-Sonoma that sell products through retail stores, catalogs, and online are examples of __________. a. intertype competitors b. multichannel retailers c. vertically-integrated retailers d. scrambled merchandisers e. dual distributors |
multichannel retailers |
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An IKEA mail order catalog is an example of __________ retailing |
nonstore |
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Butler-McDonald, an Indianapolis firm, recycles outdated computers to reclaim reusable materials such as plastics, copper, zinc, silver, and gold. Butler-McDonald is implementing a . salvage marketing. b. materials transformation. c. cyclical materials handling. d. reverse logistics. e. cause-related marketing. |
reverse logistics |
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There are three general forms of retail ownership: contractual system, corporate chain, and __________. a. dual ownership b. industry consortium c. retailing cooperative d. independent retailer e. multi-national cartel |
independent retailer |
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The National Retail Federation estimates that about __________ of retail sales is due to shrinkage a. 1.4% b. 2.0% c. 2.4% d. 3.0% e. 5.0% |
1.4% |
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Jaffar (Jeff) Tabrizi is the owner and president of Tabrizi Oriental Rugs located in Toronto, Canada. He personally shops the world over, handpicks, and orders authentic and beautiful handmade rugs. He has them shipped to Canada, where he sells them through his brick-and-mortar stores and his www.tabrizi.com website. In terms of the marketing channel, Jeff is acting as a(n) __________. a. consumer b. agent c. wholesaler d. brokerage firm e. middleman |
middleman |
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In class, we looked at the "retail store of the future." Which of the following is NOT one of the future trends we thought about? a. The Social Store: A Hybrid b. The Look Of A Nightclub c. The Social Store: Coded For Conversation d. Tech Is Front And Center e. ACTUALLY, we looked at ALL of the above. |
we looked at all of these |
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In class we looked at the Sterling Jewelry example. Sterling indicated that their holiday customers can be be very price conscious. Given this view, which of the following is NOT a tactic that Sterling is employed for the holiday season? a. Created new products, including trendy, fashion-forward items at lower price points b. Made some timeless looks more affordable for price sensitive consumers c. Expanded their assortment of LeVian Jewelry, which is a very successful upper-scale line of jewelry. d. Created a new Open Hearts Collection by Jane Seymour, based on her popularity e. Actually, Sterling did all of these for the upcoming holiday season |
Actually, Sterling did all of these for the upcoming holiday season |
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According to lecture, SCM requires us to put information systems and metrics in place that focus on performance across the entire supply chain. Why is this important? a. To keep track of overall costs. b. To be able to follow the progression of each order. c. So that we can know when a raw material or supply will reach our manufacturing plant d. To help assure that all of the units in the supply chain are working well together (and not attempting to maximize their individual performance). e. To help assure that each member of the supply chain focuses on maximizing their individual performance. |
To help assure that all of the units in the supply chain are working well together (and not attempting to maximize their individual performance). |
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Off-price retailing refers to the a. differences between the final selling price and the retailer's cost. b. sale of brand name merchandise at lower than regular prices. c. sales of merchandise at maintained markups. d. amount added by the manufacturer to achieve the desired suggested retail price. e. reduction in retail price usually expressed as the gross margin. |
sale of brand name merchandise at lower than regular prices. |
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A(n) __________ is common in the employment services and tax services industries where franchisors license individuals or firms to dispense a service under a trade name and specific guidelines. a. service-sponsored franchise system b. service-sponsored retail franchise system c. manufacturer-sponsored wholesale franchise system d. manufacturer-sponsored retail franchise system e. administered vertical marketing system |
a. service-sponsored franchise system |
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Supply chain management refers to a. the integration and organization of information and logistic activities across firms for the purpose of creating and delivering products and services that provide value to ultimate consumers. b. organizing the cost-effective flow of raw materials, in-process inventory, finished goods, and related information from point-of-origin to point-of-consumption to satisfy customer requirements. c. the integration and organization of information and logistical activities that actively bring consumers together with sellers through the express use of agents and brokers. d. an inventory management system that is designed to reduce the retailer's lead time for receiving merchandise, which then lowers a retailer's inventory investment, improves customer service levels, and reduces logistic expenses. e. a highly organized system that facilitates minute-to-minute communication between all members of a supply chain and ensures the producer is aware of any changes in delivery or demand for a product or service. |
a. the integration and organization of information and logistic activities across firms for the purpose of creating and delivering products and services that provide value to ultimate consumers. |
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There's a new prescription drug on the market that helps reduce common allergy symptoms. Ads for the medicine in magazines and in medical journals would be primarily used to a. remind customers that such a product exists. b. increase the level of customer awareness and interest for the product. c. differentiate the product from all other allergy medications. d. support a product penetration pricing strategy. e. help in harvesting the product. |
b. increase the level of customer awareness and interest for the product. |
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The sales of products and services to consumers through personal interactions and demonstrations in their homes or offices is referred to as __________. a. direct selling b. person-to-person sales c. face-to-face selling d. direct response selling e. customized selling |
direct selling |
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The value added dimension of the retail positioning matrix includes elements such as location, prestige, and __________. a. level of service b. market share c. price d. number of employees e. product reliability |
product reliability |
