MKT 310 WEEK 4 QUIZ 3 CHAPTER 5 & 6
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MKT 310 WEEK 4 QUIZ 3 CHAPTER 5 & 6
1) A retailer can become a ________ through low prices, specialized products, a large selection, and superb customer service.
A) destination retailer
B) relationship retailer
C) parasite store
D) value-based retailer
2) An advantage to a retailer’s reaching destination retailer status is its ability to ________.
A) charge higher prices for its goods
B) attract shoppers from a larger geographic area
C) attract a better work force
D) develop its own line of private label goods
3) According to the wheel of retailing theory, retail innovators first appear as ________.
A) low-price operators with low costs
B) power retailers
C) firms that provide a wide complement of customer services
D) firms that offer wide selections of highly specialized goods and services
4) According to the wheel of retailing theory, as retail innovators mature, they ________.
A) increase their market share at the expense of high-cost, full-service retailers
B) reduce customer services to concentrate on the price-conscious customer segment
C) further reduce price levels to maintain their low-cost competitive advantage
D) increase their services which leads to higher prices
5) The wheel of retailing suggests that ________.
A) consumers desire customer service over price
B) established retailers should be cautious in changing their strategy from low end to high end
C) retail consumers are store loyal
D) retailers that move up the wheel typically can keep their price-conscious customers
6) In scrambled merchandising, a retailer ________.
A) adds goods and services that may be unrelated to each other and to the firm’s original business
B) trades up its customer services to attract a new target market
C) attempts to reduce its out-of-stock...