1. One product strategy used by retailers to differentiate themselves from competitors is: -> the use of private label brands.
removing brand labels from their merchandise offerings.
JIT product delivery.
offering brand name merchandise.
Many retailers have private label brands--their own brands of merchandise sold at prices below the prices of national brands. (0)
2. Which of the following is NOT one of the broad factors manufacturers must consider when establishing a strategy for getting their products into the hands of the ultimate customer? Choosing retail partners.
Identifying types of retailers.
Facilitating retail strategy.
Managing a multichannel strategy.
→ All of these are considered when establishing a strategy.
All of the factors listed are issues manufacturers must consider when developing a strategy for getting their products to the final customer. (0)
3. Retailers focusing on increasing sales to their best customers are attempting to: slay the category killers.
compete with off-price retailers.
drive their supply chain.
→ increase their share of wallet.
combat the inroads made by big-box specialty retailers.
Retailers hope that customers will increase their spending with the retailer--in other words, increase their share of wallet. (0)
4. Which of the following strategies is designed to place products in as many outlets as possible? → Intensive distribution
Intensive distribution is designed to have as many products in as many outlets as possible.
5. Many retail golf stores have driving ranges, some with backdrops showing famous golf courses. These driving ranges allow: wholesalers to evaluate promotional discounts.
retailers to improve the shopping experience through an improved product line assortment. customers to increase their share of wallet spending.
retailers to avoid competition from knock-off products.
→ customers to try before they buy.
The ability to try before buying is a key advantage of brick-and-mortar retail stores. (0)
6. While it is relatively easy to offer customers Internet options like a FAQ page and an e-mail address to answer questions, some companies are using an interactive approach to address customers' questions while they are visiting the websites. These firms are using ___________ to provide the customer with enhanced customer service. vendor-managed inventory
→ online chats
Some vendors enhance customer service by offering online chats for customer service. Some of the other items listed (such as web videos and online games) may be offered, but they are not strictly aimed at enhancing customer service. (0)
7. It is often difficult for retailers to distinguish themselves from their competitors through the merchandise they carry because: they do not carry enough merchandise.
consumers no longer recognize brand equity.
big-box food retailers are shifting into specialty store product lines. there is not enough merchandise to go around.
→ competitors can purchase and sell many of the same popular brands.
Merchandise can ordinarily not be used to create a competitive advantage, unless the retailer has exclusive distribution rights to a brand. (0)
8. John used to work for a large, well-known retailer. He left that company to go to a smaller company, and in doing so, he discovered that the channel functions were handled very differently in the smaller firm. Looking back at his experience, he noticed that larger firms: perform many different channel functions themselves.
have more control in the channel.
can be more efficient.
can save money.
→ all of these.
Larger, more sophisticated channel members (such as large manufacturers) are likely to perform many channel functions...