Home Chapter 16 Concept Check Retail store types pass through stages of growth and decline that can be described as the _____. wheel of retailing product life cycle retail life cycle retail positioning map levels of retailing Stores use _____ to measure a product's handling costs from the time it reaches the warehouse until a customer buys it. economic order quantity direct product profitability break-even analysis product differentiation procurement analysis _____ refers to the "look" a store has, planned to suit the target market. Aesthetics Layout Tempo
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Home Chapter 16 Concept Check
Retail store types pass through stages of growth and decline that can be described as the _____.
wheel of retailing
product life cycle
retail life cycle
retail positioning map
levels of retailing
Stores use _____ to measure a product's handling costs from the time it reaches the warehouse until a customer buys it.
economic order quantity
direct product profitability
break-even analysis
product differentiation
procurement analysis
_____ refers to the "look" a store has, planned to suit the target market.
Retailing includes all activities involved in selling goods or services directly to final consumers for personal, non-business use.
True
False
To better differentiate themselves and generate consumer interest, some luxury retailers are attempting to make their store and merchandise more narrow and specialized.
True
False
Regional shopping centers refer to smaller malls with one anchor store and between 20 and 40 smaller stores.
A community shopping center contains a cluster of stores, usually housed in one long building, serving a neighborhood's needs for groceries, hardware, laundry, shoe repair, and dry cleaning.
True
False
Non-store-based retailers do not take buyers away from store-based retailers since they are targeting different consumers.
True
False
Wholesaling includes all the activities involved in selling goods or services to those who buy for resale or business use.
True
False
Wholesalers finance customers by granting credit, and finance suppliers by ordering early and paying bills on time.
True
False
Wholesalers cannot hold inventory therefore inventory costs and risks are borne by suppliers and consumers.
Wholesalers often help retailers improve their operations by training sales clerks, helping with store layouts and displays, and setting up accounting and inventory-control systems.
True
False
Wholesalers rely primarily on their sales force to achieve promotional objectives.
True
False
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A program designed to promote or protect a company's image or its individual products is called _____.
advertising
sales promotion
public relations and publicity
direct marketing
personal selling
_____ involves the use of mail, telephone, fax, e-mail, or Internet to communicate directly with or solicit response or dialogue from specific customers and prospects.
Advertising
Sales promotion
Public relations and publicity
Direct selling
Personal selling
_____ involves face-to-face interaction with one or more prospective purchasers for the purpose of making presentations, answering questions, and procuring orders.
Describe the elements in the macromodel of the communications mix.
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_____ is/are a pervasive medium. Its main advantages to advertisers are its flexibility; audiences are very targeted, ads relatively inexpensive to produce and place, and short closings allow for quick response.
Television
Radio
Newspapers
Magazines
Web pop-up ads
_____ is finding the most cost-effective media to deliver the desired number and type of exposures to the target audience.
Promotion strategy
Impact
Media selection
Reach
Frequency
_____, also called out-of-home advertising, is a broadly defined category that captures many different alternative advertising forms.
_____ refers to the number of people with target audience characteristics who actually saw the ad.
Circulation
Audience
Effective audience
Effective ad-exposed audience
Cost-per-thousand
_____ consist(s) of a collection of incentive tools, mostly short term, designed to stimulate quicker or greater purchase of particular products or services by consumers or the trade.
Advertising
Sales promotion
Events
Direct marketing
Public relations
_____, formally known as publicity, is used to support corporate or product promotion and image making.
Message strategy refers to the positioning of an ad, while creative strategy refers to how the ad expresses the brand claims.
True
False
Although newspapers are timely and pervasive, magazines are typically more effective at building user and usage imagery.
True
False
Advertorials are print ads that offer editorial content that reflects favorably on the brand and is difficult to distinguish from newspaper or magazine content.
True
False
Sales promotion objectives are derived from broader promotion objectives, which are derived from more basic marketing objectives developed for the product.
List and discuss three elements that explain how many exposures, E, will produce a level of audience awareness, A.
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In the _____ step of the selling process the salesperson needs to learn as much as possible about the prospect company and its buyers.
prospecting
pre-approach
qualifying
overcoming objectives
closing
In B2B direct marketing, the prospect is often not an individual but a group of people or a committee that includes both decision makers and multiple decision influencers.
True
False
Interactive marketing refers to the use of the telephone and call centers to attract prospects, selling to existing customers, and providing service by taking orders and answering questions.
True
False
Interstitials are small, rectangular boxes containing text and perhaps a picture.
_____ is when direct marketers gather or buy as many names as possible and send out a mass mailing.
Carpet bombing
Database marketing
Interactive marketing
Real-time personalized marketing
Lifetime-value marketing
_____ is when direct marketers mine the database to identify prospects who would have the most interest in an offer.
Carpet bombing
Database marketing
Interactive marketing
Real-time personalized marketing
Lifetime-value marketing
Ads for Johnson and Johnson's Tylenol headache reliever pop up on brokers' Web sites whenever the stock market falls by 100 points or more. These ads are called _____.
In _____ exchange the terms are established by administered programs of pricing and distribution.
negotiated
routinized
contractual
automatic
maintenance
Direct marketing can be timed to reach prospects at the right moment and receive higher readership because it is sent to more interested prospects.
True
False
In direct marketing an order-response rate of 2 percent is normally considered good.
True
False
One of the great disadvantages of direct marketing is the inability to test, under real marketplace conditions, different elements of an offer strategy.
With a leveraged sales force, the sales force focuses on selling the company's more complex and customized products to larger accounts, while low-end selling is done by inside salespeople and through Web ordering.
True
False
A direct sales force consists of manufacturers' reps, sales agents, and brokers, who are paid a commission based on sales.
True
False
A direct sales force includes inside sales personnel and field sales personnel.
True
False
Fixed compensation receives more emphasis in sales with a high ratio of non-selling to selling duties and in jobs where the selling is technically complex and involves teamwork.
Variable compensation receives more emphasis in jobs where sales are cyclical or depend on individual initiative.
True
False
Logical resistance includes resistance to interference, preference for established supply sources or brands, apathy, and reluctance to giving up something.
True
False
Psychological resistance might consist of objections to the price, delivery schedule, or certain product or company characteristics.
True
False
What five components of the mailing itself are an important part of the direct mailing and contribute to its effectiveness? Elaborate on each of these.
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The term sales representative covers a broad range of positions. Discuss six ranging from the least to the most creative types of selling.
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Home Chapter 18 Concept Challenge
Concept Challenge
This activity contains 22 questions.
A factor to consider when setting the advertising budget is _____. This is because new products typically receive larger advertising budgets to build awareness and gain consumer trial.
competition and clutter
market share and consumer base
stage in the product life cycle
advertising frequency
product substitutability
_____ refers to the number of repetitions needed to put across the brand's message to consumers.
Competition and clutter
Advertising frequency
Product substitutability
Repetition ration
Hierarchy-of-effects
A _____ statement describes the objective, content, support, and tone of the desired ad.
Which advertising medium is characterized by the fleeting nature of the message and high production and placement costs?
television
radio
newspapers
magazines
web pop-up ads
_____ refers to the number of different persons or households exposed to a particular media schedule at least once during a specified time period.
Impact
Frequency
Reach
Timing
Exposure
If a full-page print ad costs $200,000 and the magazine's estimated readership is 3.1 million people, the cost of exposing the ad to 1,000 persons is approximately _____.
People are bombarded with so many messages each day; this explains advertisers' concerns about _____.
selective attention
selective perception
selective distortion
selective retention
selective reception
The principle of _____ implies that communicators can use their good image to reduce some negative feelings toward a brand but in the process might lose some esteem with the audience.
confidence
credibility
congruity
conformity
confluence
_____ channels consist of company salespeople contacting buyers in the target market.
Expert
Advocate
Social
Direct
Non-personal
Samples, coupons, and premiums are examples of _____.
Independent retailers who use a central buying organization and joint promotional efforts are called a _____.
retailer cooperative
consumer cooperative
voluntary chain
corporate chain store
merchandising conglomerate
A retail firm owned by its customers in which members contribute money to open their own store, vote on its policies, elect a group to manage it, and receive dividends is called a _____.
retail cooperative
consumer cooperative
voluntary chain
corporate chain store
merchandising conglomerate
The oldest and most heavily trafficked city area is called a(n) _____.
_____ carry stock, maintain a sales force, offer credit, make deliveries, and provide management assistance.
Merchant wholesalers
Full-service wholesalers
Limited-service wholesalers
Brokers and agents
Specialized wholesalers
The market logistics task calls for _____, involving materials management, material flow systems, and physical distribution, abetted by information technology.
inventory analysis systems
integrated logistics systems
integrated supply systems
information technology analysis
logistical economic systems
Which of the following is not one of the four major decisions that must be made with regard to market logistics?
Different types of stores (discount stores, catalog showrooms, department stores) all compete for the same consumers by carrying different types of merchandise.
True
False
In the United States store brands now account for one of every five items sold.
True
False
The growing power of store brands ultimately helps strengthen national brands.
True
False
Wholesalers absorb some risk by taking title and bearing the cost of theft, damage, spoilage and obsolescence.
One of the functions of wholesalers is to supply information to suppliers and customers regarding competitors' activities, new products, price developments, etc.
True
False
Most companies today are trying to lengthen the order-to payment cycle.
True
False
The longer the order-to-payment cycle, the lower the customer's satisfaction and the lower the company's profit.
True
False
What are the four major categories non-store retailing falls into? Explain each of these.
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Why are wholesalers used at all? Why don't manufacturers sell directly to retailers or final consumers? Discuss the functions wholesalers perform to make the selling process more efficient.
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