MKT 18 QUIZ KOTLER – Flashcards
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Retailing includes all the activities involved in selling goods or services directly to final consumers for? personal, nonbusiness use. Retailers can be understood in terms of? __________. A.bricks-and-mortar retailers,? pure-click, and? brick-and-click organizations B.store? retailing, non-store? retailing, and? e-commerce C.manufacturers, wholesalers, and retailers D.?retailers, non-store? retailing, and? e-commerce organizations E.store? retailing, non-store? retailing, and corporate retailing organizations
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E Store? retailing, non-store? retailing, and corporate retailing organizations are the categories of retailing. Retailing includes all the activities involved in selling goods or services directly to final consumers for? personal, nonbusiness use.
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Direct? selling, direct? marketing, automatic? vending, and buying services are components of? __________. A. store retailing B. ?bricks-and-mortar store retailing C. alternative retailing D.non-store retailing E. direct-to-consumer retailing
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D Non-store retailing includes direct? selling, direct? marketing, automatic? vending, and buying services. Although most goods and services are sold through? stores, non-store retailing has been growing at a much more rapid pace than store retailing.
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Which one of the following includes all the activities in selling goods or services directly to final consumers for? personal, nonbusiness? use? A.?Supply-chain management B.M-commerce C.Retailing D.Wholesaling E. Logistics
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C
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Which type of retailer carries goods and? merchandise, sold at less than? retail, and includes retailers such as TJMaxx and? Costco? A.Superstore B.Extreme-value store C.Off-price retailer D.Specialty store E. Department store
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C
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Although many retail stores are independently? owned, an increasing number are part of a corporate retailing organization. A corporation that combines several diversified retailing lines and forms under central? ownership, with some integration of distribution and? management, represents what type of corporate retailing? organization? A.Corporate chain store B.Merchandising conglomerate C.Franchise organization D.Consumer cooperative E.Retailer cooperative
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B
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When employees of large organizations buy from a list of retailers who have agreed to give discounts to those? employees, what type of retailing is taking? place? A.Direct selling B.Limited service C.Direct marketing D.Off price retailing E.Buying service
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E A buying service is a retailer without stores that serves a specific clientelelong dash usually employees of large organizations who are entitled to buy from a list of retailers that have agreed to give discounts in return for membership.
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Retailers using superior information? systems, logistical? systems, and buying power represent one of the major trends shaping? retailing, which is the? __________. A.growth of shopper marketing B.growth of intertype competition C.growth of giant retailers D.growth of investment in technology E.decline of? middle-market retailers
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C Leveraging superior information? systems, logistical? systems, and buying power represents the growth of giant retailers. Recent trends in retailing include new retail forms and? combinations, the growth of intertype? competition, competition between? store-based and? non-store based? retailing, the growth of giant? retailers, the decline of? middle-market retailers, growing investment in? technology, the global profile of major? retailers, and the growth of shopper marketing.
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The? __________ is the trend that characterizes the retail market today as hourglass or? dog-bone shaped. A.decline of the? middle-market retailers B.competition between? stored-based and? non-store-based retailing C.growth of giant retailers D.the growth of shopper marketing. E. growth of intertype competition
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A The decline of? middle-market retailers is characterized as hourglass or? dog-bone shaped because growth seems to be centered at the top and at the bottom.
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The retail market is very? dynamic, and a number of new types of competitors and competition have emerged in recent years. Which important development has resulted in stores with superior information? systems, logistical? systems, and buying? power? A.Smaller intertype competition B.Increase in classic retailing C.Fewer retail forms and combinations D.Increase in the number of? middle-market retailers E.Growth of giant retailers
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E Through their superior information? systems, logistical? systems, and buying? power, giant retailers such as Walmart are able to deliver good service and immense volumes of product to masses of consumers at appealing prices.
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Kraft Foods spinoff Mondelez uses? ________ technology by putting sensors on shelves near? check-out that can detect the age and sex of a consumer and target them with ads and promotions for a likely snack candidate on a video screen. A.shopper marketing B.smart shelf C.quick response? (QR) code D.integrated digital communication E.smart shopping carts
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B raft Foods spinoff Mondelez uses? "smart shelf" technology by putting sensors on shelves near? check-out that can detect the age and sex of a consumer? and, by virtue of advanced? analytics, target them with ads and promotions for a likely snack candidate on a video screen.
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Today, where is the largest area of retail market growth? centered? A.In companies that incorporate technology into the shopping experience B.In discount? chains, such as Walmart and Tesco C.At stores that have moved to a more upscale format with higher prices and concierge services D.At the top and bottom of the market E. In traditional middle market? stores, such as JCPenney and? Kohl's
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D We can characterize the retail market today as hourglass or? dog-bone shaped: Growth seems to be centered at the top? (with luxury offerings from retailers such as Tiffany and Neiman? Marcus) and at the bottom? (with discount pricing from retailers such as Walmart and Dollar? General).
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A retailer that combines grocery items with a large selection of nonfood merchandise is considered to be? ________. A.discounter B.middle-market retailers C.category killers D.supercenters E. fast retailers
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D Supercenters combine grocery items with a huge selection of nonfood merchandise? (Walmart).
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Like all? marketers, retailers must prepare? __________ that include decisions about target? markets, product assortment and? procurement, services and store? atmosphere, store activities and? experiences, communications, and location. A.target marketing strategies B.sales and marketing strategies C.marketing plans D.promotion strategies E.advertising and sales promotion plans
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C Decisions about target? markets, product assortment and? procurement, services and store? atmosphere, store activities and? experiences, communications, and location are all part of a retailing marketing plan. Like any other? business, retailers must prepare comprehensive marketing plans.
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Retailers must decide on target? markets, channels, and product assortment.? However, the real challenge begins after deciding the? store's product? assortment, and that is to? __________. A.decide on strategies addressing branded and nonbranded merchandise B.create an? e-commerce strategy to supplement its traditional retailing storefronts C.develop a? product-differentiation strategy D.create a promotional plan to move products E.create a sufficient marketing budget to reach target markets and move product
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C
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Before the retailer makes decisions that are consistent on issues such as product? assortment, store? decor, advertising messages and? media, price, and service? levels, what must be? determined? A.Target market B.Channel C.Destination categories D.Retail market structure E.Use of technology
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A Until it defines and profiles the target? market, the retailer cannot make consistent decisions about product? assortment, store? decor, advertising messages and? media, price, and service levels. Whole Foods has succeeded by offering a unique shopping experience to a customer base interested in organic and natural foods.
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Which one of the following has the greatest influence on where households choose to shop and how they view a particular? retailer? A.Surprising or? ever-changing merchandise B.Destination categories C.The breadth and depth of the shopping experience D.Procurement policies E.Merchandise-customizing services
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B Destination categories may play a particularly important? role, because they have the greatest influence on where households choose to shop and how they view a particular retailer.
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Stores are using? ________ to measure a? product's handling costs from the time it reaches the warehouse until a customer buys it in the retail store. A.direct product profitability? (DPP) B.destination categories C.high turns multiplied by earn ratios D.micromerchandising E.merchandise managers
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A Stores are using DPP to measure a? product's handling costs? (receiving, moving to? storage, paperwork,? selecting, checking,? loading, and space? cost) from the time it reaches the warehouse until a customer buys it in the retail store. Sometimes they find that a? product's gross margin bears little relationship to the direct product profit.
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In pursuit of higher sales? volume, retailers are studying their store environments for ways to improve the shopper experience. On entering a? store, people need to slow down and sort out the? stimuli, known as? ________. A.honoring the transition zone B.making merchandise available to the reach and touch C.avoiding overdesign D.attracting shoppers and keep them in the store E.designing for women
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A
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Private labels are rapidly gaining ascendance in a way that has many manufacturers of name brands running scared. In the United? States, __________ items sold? is/are a private label brand. A.five out of every seven B.one out of every five C.three of every four D.three of every seven E.two out of every four
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B
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Price-sensitive consumers, competitors copying and duplicating quality and features of the best? brands, cuts in marketing communications? budgets, and a steady stream of brand extensions and line extensions blurring brand identity have contributed to the? __________. A.weakening of private labels and the rise of national brands B.rise of outlet shopping malls and the weakening of national brands C.decline of? middle-market retailers D.weakening of national brands and the rise of private labels E.rise of shopper marketing
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D
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A? ________ is a brand that retailers and wholesalers develop. A.distributor brand B.generic brand C.partner brand D.wholesale brand E.private-label brand
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E
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Which one of the following has been shown to increase the sale of? private-label brands? A.Slotting fees B.Packaging C.Use of generic labeling D.Recessions E.Slotting fees
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D Private labels are rapidly gaining ground in a way that has many manufacturers of name brands running scared. Recessions increase? private-labels sales, and once some consumers switch to a private? label, they? don't always go back. According to the Private Label? Manufacturers' Association, store brands now account for one of every five items sold in U.S.? supermarkets, drug? chains, and mass merchandisers.
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Bucking private label? trends, many manufacturers or national brands are fighting back. Which of the following is a strategy being used by leading brand marketers in response to the private label? threat? A."Push" advertising programs B.Limiting line extensions C.Lowering quality D.Economies of scale E.New brands
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E
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Which of the following takes place when manufacturers use symbolic imagery on brands as well as incorporate functional quality that beats private? labels, to help manufacturers compete or collaborate with private? labels? A.Effective partnerships B.Brilliant innovation C.Create winning value propositions D.Selective fighting E.Concentration on strengths
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C
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Cash and carry? wholesalers, truck? wholesalers, drop? shippers, and? mail-order wholesalers are all types of? _____ wholesalers. A.?limited-service B.full-service C.merchant D.agent E.industrial
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A
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In? general, wholesalers can more efficiently perform all of the following functions except which? one? A.Financing B.Training C.Conducting? small, specialized transactions D.Risk bearing E.Management services and counseling
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C
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A? ________ wholesaler carries? stock, maintains a sales? force, makes? deliveries, and provides management assistance. A.merchant B.broker and agent C.specialized D.full-service E.limited-service
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D ? Full-service wholesalers carry? stock, maintain a sales? force, offer? credit, make? deliveries, and provide management assistance. Wholesale merchants sell primarily to? retailers: Some carry several merchandise? lines, some carry one or two? lines, and others carry only part of a line. Industrial distributors sell to manufacturers and also provide services such as credit and delivery.
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When wholesalers buy large lots of product and break those lots into smaller units for? resale, what service are they providing for the? manufacturer? A.Warehousing B.Risk bearing C.Bulk breaking D.Selling and promoting E.Buying and assortment building
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C Correct. Wholesalers achieve savings for their customers by buying large carload lots and breaking the bulk into smaller uniTS
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Narus and Anderson interviewed leading industrial distributors and identified four ways they strengthened their relationships with? manufacturers, including which one of the? following? A.The attract? high-caliber managers, yet charge a reasonable fee for services. B.They meet the volume? targets, and provide customer information to their manufacturers. C.They limit the inventory carried. D.They have access to and share competitive information. E.They aggressively promote the? manufacture's product line and take orders.
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B Narus and Anderson interviewed leading industrial distributors and identified four ways they strengthened their relationships with? manufacturers: They sought a clear agreement with their manufacturers about their expected functions in the marketing channel. They also gained insight into the? manufacturers' requirements by visiting their plants and attending manufacturer association conventions and trade shows.? Additionally, they fulfilled their commitments to the manufacturer by meeting the volume? targets, paying bills? promptly, and feeding back customer information to their? manufacturers, and they identified and offered? value-added services to help their suppliers.
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In the wholesaling? business, ________ bring buyers and sellers together and assist in? negotiation; they are paid by the party hiring them. A.brokers B.producers' cooperatives C.drop shippers D.rack jobbers E.agents
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A
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The company needs to balance? order-processing costs and? inventory-carrying costs.? Order-processing costs for a manufacturer consist of? _____ and? _____for the item. A.optimal order? quantity; order-processing costs B.optimal order? quantity; running costs C.setup? costs; running costs D.inventory-carry charges;? order-processing costs E.inventory carrying? costs; running costs
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C The company needs to balance? order-processing costs and? inventory-carrying costs.? Order-processing costs for a manufacturer consist of setup costs and running costs? (operating costs when production is? running) for the item.
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Which of the following choices affect product? pricing, on-time delivery? performance, and the condition of the goods when they? arrive, all of which affect customer? satisfaction? A.Warehousing B.Order processing C.Transportation D.Inventory E.Lean manufacturing
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C Transportation choices affect product? pricing, on-time delivery? performance, and the condition of the goods when they? arrive, all of which affect customer satisfaction. In shipping goods to its? warehouses, dealers, and? customers, a company can choose? rail, air,? truck, waterway, or pipeline.
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?________ includes strategically procuring the right? inputs, converting them efficiently into finished? products, and dispatching them to the final destinations. A.Market logistics B.Physical distribution C.Integrated logistics systems D.Supply chain management E.Lean manufacturing
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D
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The firm must make four major decisions about its market logistics. Which of the following is a? decision-making area about how much sales and profits would increase and how much? order-fulfillment times would? increase? A.Order processing B.Warehousing C.Inventory D.Transportation E.Manufacturing
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C . Management needs to know how much sales and profits would increase as a result of carrying larger inventories and promising faster? order-fulfillment times, and then make a decision.
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?________ includes planning the infrastructure to meet? demand, then implementing and controlling the physical flows of materials and final goods to meet customer requirements at a profit. A.Integrated logistics systems B.Physical distribution C.Market logistics D.Lean manufacturing E.Supply-chain management
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C
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Which system has shortened the? order-cycle time, and provided improved control of? operations? A.Lean manufacturing B.Electronic order processing C.Integrated logistics systems? (ILS) D.Inventory-carrying E.Order? (or reorder) point
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C
