MKTG 431 Mini Test #9 – Flashcards
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Merchandise assortments can be described in terms of breadth and depth. How would you classify Home depot - a large retailer that carries hundreds of fasteners such as nails and screws, as well as lines of lumber, paint, plants, tools, and appliances?
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broad and deep
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Which of the market structures best describes the current state of retailing in the United States?
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Highly concentrated
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_______________ is the process of selling goods and services to individuals for their personal use?
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Retailing
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People prefer to shop for groceries near to where they live.
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True
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Retailers use ___________ as a way to make it easy for customers to navigate in the store?
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Store layout
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Which of the following is NOT a component of the promotional mix?
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Packaging
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When is the best time to establish a metric to measure the performance of a promotion?
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At the time the promotion objective is established
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Which of the following media is the richest information channel?
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Face to face conversations
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The basic communication model describes how a message is transmitted from a sender to a receiver. The only way a sender can know whether the message has been received is through?
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Feedback
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Which promotional role might be most appropriate for a product in the decline stage of the product life cycle?
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This is a trick question - a company is unlikely to spend money on promotion when a product is in the decline stage.
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One way groups of independent businesses can compete with large retail chains is to form a _______________?
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Vertical marketing system
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_______________ refers to an approach to merchandising where a retailer may carry products unrelated to its primary lines of merchandise in order to meet the needs of its target market?
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Scrambled merchandising
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Merchandise assortments can be described in terms of breadth and depth. How would you classify a kiosk at the mall that sells Cingular cellular phones?
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Narrow and shallow
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For discount stores, it is important for customers to be able to see the prices of the merchandise when browsing.
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True
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When it comes to retail, the price-value heuristic means that when you are in a store that has what you perceive to be high prices; you would expect to receive exceptional ________?
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Service
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Every business will use a different combination of promotional tools. The actual tools selected will depend on?
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Actually, it depends on all of these.
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Which of the following forms of promotion is the most influential?
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Word of mouth
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Which element of the promotional mix typically compromises the smallest part of the promotions budget?
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Public relations
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The PULL approach to promotion...
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Focuses on creating consumer demand for the product.
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Which promotional role might be most appropriate for a product in the post-purchase behavior stage of the consumer buying process?
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Build Relationships
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Wal-Mart started out as a low-cost, low-status retailer. The company's success was founded on a policy of eliminating cost from retailing and passing the savings along to the consumer. Recently the company has been experimenting with high-end products such as big-screen televisions and fine jewelry. This move could be expected according to ____________?
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The wheel of retailing
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When I was a young man (not too long ago) Big Box retailers - very large, free-standing specialty stores were very popular. Today many of these stores such as Toys'R'us and Party Supplies Warehouse, stand empty. This could be explained according to ____________?
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The retail life cycle
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____________ is an example of a retailer whose merchandise mix is both wide and deep?
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Amazon
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Direct mail, catalog sales and vending machines are all examples of?
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Non-store retailing
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Retailers attempt to make the shopping experience fun because people put a different value on the products they buy when they are having fun.
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True
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What do we mean when we speak of the richness of an information channel?
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The number of different information cues the cannel can carry.
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Which promotional role might be most appropriate for a product in the introductory stage of the product life cycle?
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Inform
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Sanjeev was opening a new shrimp farm in Louisiana. Shrimp is the number one selling seafood in the United States and he felt that growing demand for shrimp would allow a new business to succeed. In order to find customers for his product, he sent samples of his 16 ounce package to the seafood buyers of the 15 largest grocery store chains. Along with the sample was an offer for 50% off the wholesale cost of shrimp for the first order. Sanjeev was using a ______ promotion strategy?
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Push
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The AIDA model for persuasive communication suggests there are four stages you need to go through in order to persuade somebody. The FIRST thing you have to do is?
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Get the person's attention
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Which of these approaches to establishing a promotions budget is the one most commonly used in business?
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Percentage of sales
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Which of these stores might want to locate next to each other in order to increase traffic for both of them?
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Two automobile dealerships
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Which theory of retail evolution proposes that new retail concepts emerge, become popular, are widely imitated and then fade away?
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The retail life cycle
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Entertainment retailing recognizes that in addition to satisfying needs through purchasing products, for many people, shopping is?
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Shopping is all of these.
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Because of high ___________ retailers with low profit margins can still be attractive businesses?
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Inventory turnover
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The basic elements of store architecture are pretty much the same today as they were 200 years ago.
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True
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The basic communication model describes how a message is transmitted from a sender to a receiver. The receiver's _________ depends on how the message was interpreted by the receiver?
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Response
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The PUSH approach to promotion...
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Focuses on getting members of the distribution channel to support the product
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______________ is all of the communication to support the marketing program.
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Promotion
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Sanjeev was opening a new shrimp farm in Louisiana. Shrimp is the number one selling seafood in the United States and he felt that growing demand would allow a new business to succeed. In order to convince the buyer at Winn Dixie grocery stores to carry his product, he ran coupons in the local newspaper where Winn Dixie had stores offering customers a free 16 ounce bag of frozen shrimp. These customers would bring the coupon into the store and ask for the product. Sanjeev was using a _______ promotion strategy?
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Pull
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Which element of the promotional mix usually compromises the largest part of the promotions budget?
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Sales promotion
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Which theory of retail evolution proposes that as retail stores become successful and upgrade their product lines (and prices) it creates an opportunity for a new, low cost retail form to enter the market?
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The wheel of retailing
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A ____________ is a retail concept where two or more stores are owned and operated by the same company?
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Corporate Chain
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Which of these stores would you expect to find in a city's central business district?
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You would expect to see all of these in a central business district.
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Which theory of retail evolution proposes that retail stores start out as low-price low-status stores and then gradually move upscale as the business grows?
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The wheel of retailing
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Allen had lunch at the Automat. This is a trendy new restaurant where the customer selects ready-made sandwiches, soups, salads, desserts, and drinks from little compartments along a wall. He then places the selections on a tray, takes it to the check out section, scans each item, and pays for it with a debit card before going into the dining area to eat. There is a crew of cooks who replace the items people select from the other side of the wall. This is an example of _____________ retailing?
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Self-service
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The basic communication model describes how a message is transmitted from a sender to a receiver. In order for this to happen, the message has to be _________ by the sender and ________ by the receiver?
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Encoded, decoded
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When sending and receiving information, a ________ is a method of encoding information?
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Cue
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The AIDA model for persuasive communication suggests there are four stages you need to go through in order to persuade somebody. The LAST thing you have to do is?
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Tell the person what you want them to do.
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Which of these is a question you should be asking when establishing the objective for a promotional campaign?
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Who is the target audience?
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Which of the following is NOT one of the four roles for promotion?
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Positioning
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For stores selling luxury products, it is important for customers to be able to see the prices of the merchandise when browsing.
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False
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A ____________ is a retail concept where, typically a smaller retailer provides highly personalized service through a single retail outlet?
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Independent store
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Which of the following forms of promotion gives marketers the greatest degree of control over the message?
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Advertising
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It is impractical to sell expensive products such as electronics or cosmetics through vending machines.
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False
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The basic communication model describes how a message is transmitted from a sender to a receiver. The __________ is the medium used to transmit the encoded message to the receiver?
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Channel of communication
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The quotation "I know that half of my advertising budget is wasted; but I don't know which half" illustrates the fundamental problem with measuring the effectiveness of promotions. The problem is?
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There is not a direct link between promotion expenditures and sales performance
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The reason integrated marketing communications campaigns are so powerful is that?
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These are all reasons why integrated marketing communications can be so powerful
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Pearl went shopping for school supplies at Target. She found the pencils, paper, and binders easily. However, there was a special kind of graphing calculator that her school required and she couldn't find it on the shelf. She pressed the customer assistance button and within a minute a friendly associate was there to help her. The associate told her that they were currently out of stock on the calculator. She could wait until the new shipment arrived tomorrow or, if she wanted to go to a nearby store where the calculator was in stock, the associate would be happy to call ahead and have one reserved for pearl. This is an example of _____________ retailing?
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Limited service
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Telemarketing is an inexpensive retail format for relationship marketing.
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False
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The basic communication model describes how a message is transmitted from a sender to a receiver. Any of the several factors that could interfere with the ability of the sender to transmit the encoded message accurately are called?
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Noise
