Marketing practice quizzes

the sorting process refers to

a retailer's collecting an assortment of goods and services from many vendors

In exclusive distribution, suppliers

enter into agreements with one or a few retailers that designate the latter as the only companies in specified geographic areas to carry certain brands and/or product lines

all of the businesses and people involved in the physical movement and transfer of ownership of goods and services from producer to consumer constitute

a channel of distribution

which statement concerning retailing is correct

It is the last stage in the distribution process

The sorting process helps final consumers through _____.

enabling one-stop shopping

proof that Amazon fully embraces the retailing concept is evident in Amazon's ____

- customer orientation

- focus on value

- goal orientation

a retailer's customers who are most loyal and who have the highest average sales can be classified as its

core customers

the results area of the value equation includes factors such as _____

overall product quality

from the customer's perspective, value is based on _____

perceptions

which of the following is an example of a controllable variable to an independent family-oriented shoe retailer?

development and implementation of a cheerful, friendly store atmosphere

an overall plan or framework of action that guides a retailer is its ______

retail strategy

an integral component of a concentrated marketing strategy is ____

a focus on one specific market segment

a retailer's organizational mission is its _____

commitment to a type of business

a retailer can determine how consumers perceive the company relative to its retail category and its competitors through ________

positioning

which of the following is an example of an uncontrollable variable to Lucky's Market _____?

legal restrictions related to alcohol sales

A retailer does generally not stock a broad selection of brands in which form of distribution?

exclusive distribution

The price component of the value equation _______.

can include the challenges of assembling a product

a retailer aims efforts at two or more distinct consumer groups, with different retailing approaches for each group, in _____

differentiated marketing

Gap Inc. is the parent company to Gap, Banana Republic, Old Navy. Gap Inc.'s decision to offer a variety of stores that cater to different market segments is an example of what type of target market strategy?

differentiated

Which of these is an uncontrollable part of retail strategy?

consumers

_______ is the target market strategy that only concentrates on one (or few) market segments.

concentrated

Channel relations are generally smoothest in which form of distribution?

exclusive distribution

the total retail experience is best defined as _____.

all the elements in a retail offering that encourage or inhibit consumers during their contact with a retailer

The retailing concept stresses the importance of

value

A fundamental concept of value is that

That value is interpreted differently by all final consumers

Walmart aims its retailing strategy at a large homogeneous (similar) group of consumers. A wide assortment of goods is offered at popular prices. Walmart utilizes which target market strategy?

mass marketing

A retailer operates different store formats to appeal to different groups of customers this strategy illustrates ____ marketing

differentiated

While some manufacturers specialize by producing one product, consumers generally favor retailers with extensive selections from many manufacturers. These divergent viewpoints can be reconciled through _____.

the sorting process

the consumer group that a retailer tries to satisfy is called its _______

target market