Flashcards on Chapter 15 Quiz

question

Value-based pricing focuses on the cost of a product to the supplier more than the value of a product to the customer.
answer

False
question

Successful retailing has always been based on knowing the customer.
answer

True
question

Determining a target market is not a prerequisite to creating the retailing mix.
answer

False
question

Developing a product offering is essentially a question of the width and depth of the product assortment.
answer

True
question

At the store level, tactical retailing goals include decrease in store traffic and lower sales of specific items.
answer

False
question

Which of the following is a difference between direct retailing and direct marketing? Direct retailing shoppers are less bound by traditional shopping situations, while direct marketing shoppers are bound by traditional shopping situations. Direct retailing employs inbound telephone contacts to sell directly to consumers, while direct marketing employs outbound telephone contacts to sell to consumers. Direct retailing allows customers to shop over the Internet, while direct marketing does not allow customers to shop over the Internet. Direct retailing representatives sell products door-to-door, while direct marketing allows consumers to shop from home.
answer

Direct retailing representatives sell products door-to-door, while direct marketing allows consumers to shop from home.
question

Delta Company recruits and trains college students to sell educational reference books, software, and children’s books door-to-door. This form of retailing is called:
answer

Direct Retailing
question

​A(n) _____ refers to the originator of a trade name, product, methods of operation, and the like that grants operating rights to another party to sell its product.
answer

Franchisor
question

Which of the following is true of specialty stores? They offer consumers very limited service and carry a vast assortment of well-known, nationally branded goods such as toys, housewares, and clothing. They price products lower than specialty discount stores. They carry a wide range of products and specialty goods, including apparel, cosmetics, housewares, electronics, and sometimes furniture. They carry a deeper but narrower assortment of merchandise within a single category of interest.
answer

They carry a deeper but narrower assortment of merchandise within a single category of interest.
question

​Tipplers Delight is a liquor store that sells a wide assortment of alcoholic beverages. Tipplers Delight is an example of a _____.
answer

Specialty Store

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