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Retail Marketing
Modules 1
| Question | Answer |
|---|---|
| A ________ is a business that sells products and/or services to consumers for their personal or family use. | retailer |
| Tech Games, a retailer, purchases of the video games and game consoles on a large scale. It then offers the products to customers in single quantities. The value-creating function performed by Tech Games in the given scenario is | breaking bulk |
| A major value-providing activity performed by retailers is ________, so that products will be available when consumers want them. | holding inventory |
| Fresh n Fragrant is a chain of flower shops offering a variety of flowers and ornamental plants. It recently opened a distribution center to supply ornamental plants and cut flowers to all its stores within a 300-mile radius. From the given scenario, it c | Vertical Intergration |
| Which of the following is true of retailing activities in the bottom of the pyramid (BoP) market? | Most people in BoP markets live in rural areas with limited access to mass media. |
| The U.S. retail industry | has the greatest retail density in the world. |
| ________ describes the voluntary actions taken by a company to address the ethical, social, and environmental impacts of its business operations and the concerns of its stakeholders. | Corporate social responsibility |
| Daily Needs and Smart Saves are two large retailers in Canada. They compete with each other using similar marketing strategies. Which form of competition is seen between these two retailers? | Intratype competition |
| The retail strategy helps a retailer to identify all of the following except: | D) how to determine the break-even point for making profits. |
| Which of the following is not an element in the retail mix? | Competitive response |
| a set of business activities that add value to the products and services sold to consumers for their personal or family use. | What is retailing |
| What is a retailer | is a business that sells products and/or services to consumers for personal or family use. |
| vertical Intergrations | a firm performs more than one set of activities in the channel, as occurs when a retailer engages in wholesaling activities by operating its own distribution centers to supply it stores. |
| Backward Intergrations | a retailer performs some distribution and manufacturing activities |
| Foward integration | a manufacturer undertakes retailing and wholesaling activities o Ex: Ralph Lauren (New York Jones, Liz Claiborne) operates its own stores; Apple operates its own retail stores. |
| Corporate social responsibility (CSR) | involves an organization voluntarily engaging in business practices that meet or exceed the ethical and legal expectations of its stakeholders |
| Conscious marketing: | 1. Recognition of the retailing firm’s greater purpose; 2. Consideration of stakeholders and their interdependence; 3. The presence of conscious leadership, creating a corporate culture; 4. The understanding that decisions are ethically based. |
| Enviornmental Factor Macroenvironment | Technological, social and ethical/ legal/political |
| Enviornmental Factor Microenvironment | Competitors and customers |
| Intratype Competition | Similar retail business |
| intertype Competition | retails business not similar |
| scambled Merchandising | drugstores |
Created by:
agordon93