MKTG 409 Exam 3 MindTap (Chapter 15) Study Guide: Marketing Concepts
Review
retailing - correct answer ✔✔Nicole has been wanting to open her own business for many
years. After much saving and a loan from the bank, she was able to open up her own store. This
store features upscale jewelry, footwear, and clothing for professional women. She uses a
premium pricing strategy to demonstrate the quality of her products. As time passed, she
adopted other product lines including luggage and beauty products. Nicole has developed
strong relationships with suppliers so that new orders come relatively quickly. Nicole
distinguishes herself from the competition with the high level of service at her store. Her
workers are trained to greet customers within fifteen seconds of them entering the store. She
also gives her employees permission to take whatever time needed to make sure that customer
needs are met.
Refer to Scenario 15.1. Based upon the description, Nicole is engaging in
category management - correct answer ✔✔Supermarkets use ______________ to allocate
space for their many product categories, such as cosmetics, cereals, and soups.
online retailing - correct answer ✔✔A significant factor in the rise of multichannel retailing is
_____________ which makes products available to buyers through internet connections.
Department store - correct answer ✔✔Refer to Scenario 15.1. Based upon the information
about Nicole's store, what type of store do you think it is?
community shopping center - correct answer ✔✔Refer to Scenario 15.1. Nicole has located her
very first store in a smaller shopping area where she sometimes partners with the other
businesses to hold events or exhibits. Nicole chose this location because she wanted to attract
customers looking for shopping or specialty products. She feels that many of the retailers in the
shopping center offer products that cannot be found in the typical strip mall. Nicole has located
her shop in a _______.
, Multichannel retailing - correct answer ✔✔Refer to Scenario 15.1. After continued success,
Nicole decides to begin online retailing and is considering creating an app. Online retailing is a
significant factor in the rise of what type of retailing?
hypermarket - correct answer ✔✔The United Kingdom's largest supermarket is called Tesco.
Tesco is a grocery and general merchandise retailer. In some outer city regions, Tesco has
opened up stores it calls Tesco Extra, which carries all of Tesco's product ranges. These stores
are known for their massive size—the largest one is 185,500 square feet. Tesco Extra is most
likely to be a _______.
A vendor maintains a rack of Blu-ray discs it sells at a popular drugstore. - correct answer
✔✔Which of the following is the best example of a rack jobber?
direct selling; automatic vending - correct answer ✔✔In terms of selling products, _______ is
the most personal and customizable form of selling, whereas _______ is one of the least
personal.
broker - correct answer ✔✔Lyle founded a salsa manufacturing plant in his hometown of El
Paso, Texas. Sales have been good, and demand for his products have been high. Lyle believes
there are many more potential customers for his product in different regions of the country. He
would like to sell to discount stores, restaurants, supermarkets, and more. Lyle does not have
much experience in the sales area, however, and he cannot afford to hire a full-time salesperson
yet. Lyle turns to Tim, an independent salesperson who works for several different clients in the
food industry. Tim is a specialist in his field and has a number of connections in the food
industry. Lyle is sure Tim will be successful in finding companies or restaurants who will want to
purchase his salsa. Tim is most likely a(n) _______.
Lifestyle shopping centers - correct answer ✔✔_______ are designed to resemble traditional
"Main Street" shopping centers and often have a central theme evidenced by the architecture.
category killer - correct answer ✔✔Joseph has a passion for quality electronics. His dream is to
open up a large electronics store to compete against Best Buy. He thinks he can utilize supplier
Review
retailing - correct answer ✔✔Nicole has been wanting to open her own business for many
years. After much saving and a loan from the bank, she was able to open up her own store. This
store features upscale jewelry, footwear, and clothing for professional women. She uses a
premium pricing strategy to demonstrate the quality of her products. As time passed, she
adopted other product lines including luggage and beauty products. Nicole has developed
strong relationships with suppliers so that new orders come relatively quickly. Nicole
distinguishes herself from the competition with the high level of service at her store. Her
workers are trained to greet customers within fifteen seconds of them entering the store. She
also gives her employees permission to take whatever time needed to make sure that customer
needs are met.
Refer to Scenario 15.1. Based upon the description, Nicole is engaging in
category management - correct answer ✔✔Supermarkets use ______________ to allocate
space for their many product categories, such as cosmetics, cereals, and soups.
online retailing - correct answer ✔✔A significant factor in the rise of multichannel retailing is
_____________ which makes products available to buyers through internet connections.
Department store - correct answer ✔✔Refer to Scenario 15.1. Based upon the information
about Nicole's store, what type of store do you think it is?
community shopping center - correct answer ✔✔Refer to Scenario 15.1. Nicole has located her
very first store in a smaller shopping area where she sometimes partners with the other
businesses to hold events or exhibits. Nicole chose this location because she wanted to attract
customers looking for shopping or specialty products. She feels that many of the retailers in the
shopping center offer products that cannot be found in the typical strip mall. Nicole has located
her shop in a _______.
, Multichannel retailing - correct answer ✔✔Refer to Scenario 15.1. After continued success,
Nicole decides to begin online retailing and is considering creating an app. Online retailing is a
significant factor in the rise of what type of retailing?
hypermarket - correct answer ✔✔The United Kingdom's largest supermarket is called Tesco.
Tesco is a grocery and general merchandise retailer. In some outer city regions, Tesco has
opened up stores it calls Tesco Extra, which carries all of Tesco's product ranges. These stores
are known for their massive size—the largest one is 185,500 square feet. Tesco Extra is most
likely to be a _______.
A vendor maintains a rack of Blu-ray discs it sells at a popular drugstore. - correct answer
✔✔Which of the following is the best example of a rack jobber?
direct selling; automatic vending - correct answer ✔✔In terms of selling products, _______ is
the most personal and customizable form of selling, whereas _______ is one of the least
personal.
broker - correct answer ✔✔Lyle founded a salsa manufacturing plant in his hometown of El
Paso, Texas. Sales have been good, and demand for his products have been high. Lyle believes
there are many more potential customers for his product in different regions of the country. He
would like to sell to discount stores, restaurants, supermarkets, and more. Lyle does not have
much experience in the sales area, however, and he cannot afford to hire a full-time salesperson
yet. Lyle turns to Tim, an independent salesperson who works for several different clients in the
food industry. Tim is a specialist in his field and has a number of connections in the food
industry. Lyle is sure Tim will be successful in finding companies or restaurants who will want to
purchase his salsa. Tim is most likely a(n) _______.
Lifestyle shopping centers - correct answer ✔✔_______ are designed to resemble traditional
"Main Street" shopping centers and often have a central theme evidenced by the architecture.
category killer - correct answer ✔✔Joseph has a passion for quality electronics. His dream is to
open up a large electronics store to compete against Best Buy. He thinks he can utilize supplier
