Mkt Chapter 17

Front 1

One consideration in retail strategy is trying to figure out what to charge a customer for a given brand within a product category. This consideration refers to_________, one fo the elements of the four P's frame work.

Back 1

Price

Front 2

_______ is a major benefit to using the internet channel and refers to the ability to tailor the info for each customer economically.

Back 2

Personalization and customization

Front 3

Personalized customer service=

Back 3

providing help in the form of FAQ's, 800#s, or online chats.

Front 4

Personalized offerings =

Back 4

creates individualized web pages for each consumer based on their prior history, which is typically derived form past purchases.

Front 5

Full-line discount, specialty, department, and off-price are all types of retailers that fall under which broad retailing category?

Back 5

General Merchandise

Front 6

A manufacturer will seek out partnerships w/ _____ who will sell the manufacturer's products and/or services to consumers.

Back 6

Retailers

Front 7

To determine how much integration is best, each retailer must address issues such as...

Back 7

Brand Image, Integrated CRM, Supply Chain, and Pricing.

Front 8

____refers to the # of channel members used @ each level of the marketing channel.

Back 8

Distribution Intensity

Front 9

7 Eleven is an example of a ______ store that sells a limited variety of merchandise in a small but easy-to-reach location.

Back 9

Convenience

Front 10

While consumers could do most of their shopping using the internet/catalogs, part of the allure of using the store channel to shop is that it allows consumers to talk to others. This is a function of what type of experience?

Back 10

Social and Entertainment experience

Front 11

Personalized _____ refers to retailers creating individualized web pgs. for each consumer based on their prior history, which is typically derived from past purchases.

Back 11

Offering

Front 12

When customer service/product offerings are individually tailored to the consumer shopping on an internet channel, they are said to be...

Back 12

Personalized

Front 13

Macy's, Sears, JCPenny, and Kohl's are examples of General Merchandising retailers known as _____ stores that carry a broad variety and deep assortment of products/customer services.

Back 13

Department

Front 14

Which of the following firms would be most likely to employ an intensive distribution strategy for their products?:

*Procter and Gable

*Estee Lauder

*Adidas

*Pepsi

Back 14

Proctor and Gable and Pepsi

Front 15

______reduction refers to the phenomenon where consumers make purchases in physical stores and feel more confident about the purchase.

Back 15

Risk

Front 16

Because some of the channels is somewhat ___, a critical decision facing multichannel retailers is the degree to which they should or are able to integrate the operations of the channels.

Back 16

Unique

Front 17

Perks of online (multichannel retail) shopping over traditional store channels are...

Back 17

*Deeper/broader selection

*Personalization

*Gain insights into consumer shopping behavior

*Expand Market presence

*Increase Customer Satisfaction and loyalty

*More Info

*Easier to search for specific items

Front 18

The route/pathway that the product takes to get form the manufacturer to the retailer is know as...

Back 18

Channel Structure

Front 19

An_____distribution strategy is when the goal is to get the manufacture's products into as many different outlets as possible.

Back 19

Intensive

Front 20

Multichannel Strategy(Omnichannel) are

Back 20

Retailers that use some combination of stores, catalogs, and the internet to sell merchandise.

Front 21

Exclusive Distribution is

Back 21

when manufacturers grant exclusive geographic territories to one or very few retail customers so no other customers in the territory can sell a particular brand.

**Specialty Products; BMW's, Prada, etc.

Front 22

Supercenters are....

Back 22

large stores that combine a supermarket with a full-line discount store.

Front 23

Category Specialists are

Back 23

discount stores that offer a narrow but deep assortment of merchandise.

Front 24

Convenience Stores provide a

Back 24

limited variety and assortment of merchandise at a convenient location in 2000-3000 sq foot stores with speedy checkout.

Front 25

A conventional supermarket is a self-service...

Back 25

food store offering groceries, meat, and product with limited sales of nonfood items. Such as, health and beauty aids and general merchandise.

Front 26

Drugstores are ______ stores that concentrate on pharmaceuticals and health and personal grooming merchandise.

Back 26

Specialty

Front 27

Extreme Value Retailers are ....

Back 27

small, full-line discount stores that offer limited merchandise assortment at very low prices.

Front 28

Full-line discount stores are retailers that offer...

Back 28

a broad variety of merchandise, limited service, and low prices.

Front 29

Intensive distribution strategy is

Back 29

designed to get products into as many outlets as possible.

Front 30

Off-price retailers offer

Back 30

an inconsistent assortment of brand name merchandise at low prices.

Front 31

Selective Distribution uses...

Back 31

a few selected customers in a territory.

**Shopping products; Iphone, Ipad, TV's, Laptops, ETC.

Front 32

Intensive Distribution....

Back 32

is convenience products; Coke, Lays Chips, Batteries, Cards, etc.

Front 33

Specialty stores concentrate on

Back 33

limited number of complementary merchandise categories and provide a high level of service in relatively small stores.

Front 34

Warehouse Clubs are ....

Back 34

large retailers that offer a limited and irregular assortment of food and general merchandise with little service at low prices for ultimate consumers and small businesses.

Front 35

The biggest thing a manufacturer will look for when deciding on an _____ partner is whether or not their customer matches the manufacturers target market.

Back 35

Retail

Front 36

Factors for Relationships with retailers are...

Back 36

Choosing retailing partners

Identifying types of retailers

Developing a retail strategy

Managing a multichannel strategy

Front 37

Choosing Retail Partners: Channel Structure (3)

Back 37

1. Degree of vertical integration

2. Manufacturers brand

3. Power of manufacturer and retailer

Front 38

Types of retailers are...(3)

Back 38

Food, General Merchandise, Service

Front 39

Food Retailers consist of...

Back 39

1. Super markets- limited nonfood

2. Supercenters- Walmart, Meijer, K-mart

3. Warehouse Club- limited assortment; Sam's club, Costco

4. Convenience Store- limited variety; good locations

Front 40

General Merchandise Retailers consist of...(7)

Back 40

1. Dep. stores- broad variety and deep assortment

2. Full-Line Discount- broad variety @ low $

3. Specialty- limited merchandise w/service in small stores

4. Drugstores

5. Category Specialists- discount w/narrow but deep assortment.

6. Extreme Value- Full-line, limited, very low $

7. Off-price- Inconsistent assortment of brand name @ low $

Front 41

Service Retailers....

Back 41

Are firms that primarily sell services rather than merchandise. (large and growing part of retail industry.)

Front 42

The 4 P's for Retail...

Back 42

Product - Providing the right mix of merchandise and services

Price - Value of both the merchandise and the service provided

Promotion - Retailers use a whole variety of promotions, both within their retail environment and through mass media.

Place - Convenience is a key ingredient to success

Front 43

Benefits of Stores for Consumers...

Back 43

* Touching/feeling

*Browsing

*Personal Service

*Cash and Credit

*Entertainment and social interaction

*Instant gratification

*Risk reduction

Front 44

Effective multichannel MKT deals with

Back 44

Integrated CRM, Brand Image, Pricing, and supply chain.