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Retailing and Wholesaling
Study
Retailing involves selling products or services directly to final consumers for their personal nonbusiness use.
True
Most retailing is done by businesses whose sales come primarily from retailing.
True - RETAILERS - A business whose sales come primarily from retailing
Retailers reach consumers at key moments of truth ultimately influencing their actions at the point of purchase.
True
Shopper marketing focuses the entire marketing process toward turning shoppers into buyers as they approach the point of sale.
True
Shopper marketing emphasises using instore promotions and advertising to extend brand equity to the last mile.
True
Shopper marketing suggests that marketing efforts should be coordinated around the shopping process itself.
True
The First Moment of Truth is the critical three to seven seconds that a shopper considers a product on a store shelf.
True
The retailing moment of truth no longer takes place only in stores, as online and mobile shopping have added new dimensions to shopper marketing.
True
Consumers today are increasingly omnichannel buyers who make little distinction between instore and online shopping.
True
Consumers make little distinction between instore and online shopping.
True
Shopper marketing is only about instore buying.
False
Most retailing is still done in retail stores.
True
Online and mobile shopping have been growing faster than store retailing.
True
Shopper marketing is about using instore promotions and advertising to extend brand equity to the last mile and encourage favorable in-store purchase decisions.
True
Influencing consumer buying decisions as they shop now involves efforts aimed at online search and in-store online and mobile shopping.
True
Specialty store carries a narrow product line with a deep assortment and includes examples like clothing stores, sporting goods stores, furniture stores, florists, and bookstores.
True
Department store carries several product lines typically clothing, home furnishings, and household goods with each line operated as a separate department.
True
Supermarket is a relatively large, low-cost, low-margin, high-volume self-service operation designed to serve the consumer's total needs for grocery and household products.
True
Convenience store is a relatively small store located near residential areas, open long hours seven days a week, and carries a limited line of high-turnover convenience products at slightly higher prices.
True
Discount store carries standard merchandise sold at lower prices with lower margins and higher volumes.
True
Off-price retailer sells merchandise bought at less-than-regular wholesale prices and sold at less than retail. This includes factory outlets, independent off-price retailers, and warehouse or wholesale clubs selling a limited selection of brand-name groceries, appliances, clothing, and other goods at deep discounts to consumers who pay membership fees.
True
Superstores are very large stores traditionally aimed at meeting consumers' total needs for routinely purchased food and non-food items. This category includes supercenters, combined supermarket and discount stores, and category killers.
True
A very large store traditionally aimed at meeting consumers' total needs for routinely purchased food and non-food items falls under the category of superstores. This category includes supercenters, combined supermarket and discount stores, and category killers which carry a deep assortment in a particular category like Tesco Superstores UK, Auchan and Carrefour hypermarkets in Europe, and Walmart Supercenter, SuperTarget, Meijer discount stores in the US.
True
The amount of service varies for different types of customers and products, and retailers may offer one of three service levels: self-service, limited service, and full service.
True
Self-service retailers serve customers who are willing to perform their own locate, compare, select, and checkout process to save time or money.
True
Self-service is the basis of all discount operations and is typically used by retailers selling convenience goods such as supermarkets and nationally branded fast-moving shopping goods.
True
Limited service retailers, such as PCWorld or Halfords, provide more sales assistance because they carry more goods like electrical goods, motoring, and cycling products.
True
Full-service retailers provide more services resulting in much higher operating costs which are normally passed along to customers as higher prices. (True/False)
True
Customers shopping at full-service retailers do not need or want assistance or advice. (True/False)
False, Customers need or want assistance or advice.
Specialty stores usually carry narrow product lines with shallow assortments within those lines. (True/False)
False, Specialty stores carry narrow product lines with deep assortments within those lines.
