Marketing Final Exam

Cbe model strategy obj 15 6 top aacsb reflective msc

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Unformatted text preview: ting mix plus: a. presentation and personnel b. production and people c. potential and perception d. personality and persuasion e. positioning and purchasing ANS: A See Exhibit 15.3. PTS: 1 REF: 242 Thinking KEY: CB&E Model Strategy OBJ: 15-6 TOP: AACSB Reflective MSC: BLOOMS Comprehension 73. Retailers such as Target and JCPenney are responding to consumer needs by changing product mixes, hours of operation, locations, and prices. These stores are changing aspects of their: a. merchandising groupings b. retailing mixes c. product offerings d. retail trade areas e. store positioning strategies ANS: B Retailers are altering several aspects of the six Ps of the retailing mix. See Exhibit 15.3. PTS: 1 REF: 242 Thinking KEY: CB&E Model Strategy 74. The merchandise mix: a. b. c. d. e. OBJ: 15-6 TOP: AACSB Reflective MSC: BLOOMS Application is the term used for price-bundled merchandise is the term for the marketing communications used by retailers refers to the six levels in a buying organization describes the composition of a traditional shopping center is the retailer’s product offering ANS: E The retailer’s product offering is the mix of products offered to the consumers, also called the product assortment or merchandise mix. PTS: 1 REF: 242 Thinking KEY: CB&E Model Strategy OBJ: 15-6 TOP: AACSB Reflective MSC: BLOOMS Analysis 75. Which of the following statements about a retailer’s promotion strategy is true? a. The design of the promotion strategy would be done separately from the creation of the retailing mix. b. The goal of a retail store’s promotion mix is to position the store in consumers’ minds. c. Most advertising for retailers is carried out at the national level. d. Retailers find direct mail marketing inefficient. e. Retail promotion strategy does not include public relations activities. ANS: B Promotion is part of the retailing mix and includes advertising, public relations and publicity, and sales promotions. Most advertising for retailers is carried out at the local level. Retailers have been very successful with direct marketing. PTS: 1 REF: 243 Thinking KEY: CB&E Model Promotion OBJ: 15-6 TOP: AACSB Reflective MSC: BLOOMS Evaluation 76. Why is the selection of a retail location so critical to a store’s success? a. Location affects pricing decisions but does not affect store image. b. Customers will not drive out of their way to find a store. c. A location decision ties up funds that will not appreciate or gain in value. d. A location decision typically requires longterm commitment of resources. e. Employee density is affected by the area in which the store is located. ANS: D One critical point about location choice is that it ties up a large amount of resources and is difficult to change. PTS: 1 REF: 243 Thinking KEY: CB&E Model Strategy OBJ: 15-6 TOP: AACSB Reflective MSC: BLOOMS Evaluation 77. When opening a new retail operation, the retailer needs to consider all of the following factors EXCEPT: a. traffic f...
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This document was uploaded on 09/29/2013.

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