ProQuest Download PDF
Copyright informationDatabase copyright ProQuest LLC; ProQuest does not claim copyright in the individual underlying works. View related documentsYour library or institution may also provide you access to related full text documents in ProQuest. Explore ProQuest Coiro, Julie. ProQuest, part of Clarivate
Copyright © 2022 ProQuest LLC. Chantel, a resident of Denver, Colorado, decided to open up her own fine jewelry store. To do so, she used her life savings and a loan from the bank. Chantel was able to open up a store with sufficient inventory. She markets the jewelry as the "finest jewelry in the West." The most popular item Chantel sells is a rose gold bracelet that sells for $550. During one month, Chantel's fixed costs are $6,000. Her variable costs average about $400.Chantel decided to raise the price of her rose gold bracelets even higher to $750. To her surprise, though, demand went down. Based on this information, the rose gold bracelets are most likely aA. competitiveB. fixed productC. elasticD. prestige product b. department store Scenario 14.1. 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 14.1. Based upon the information about Nicole's store, what type of store do you think it is? a. warehouse club broker 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) _____________. retailing Scenario 14.1. 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 14.1. Based upon the description, Nicole is engaging in . d. hypermarket 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 _________________. e. atmospherics Scenario 14.2. Jordynn decides to open an Olive Garden franchise. She pays the franchise fees and opens the restaurant. Because Olive Garden is already a well-known name, Jordynn knows her chances of success are higher than if she opened her own restaurant from scratch. Jordynn hires experienced servers with great customer service skills. Jordynn would love to adopt an ancient Roman décor for her restaurant. However, she is told that her restaurant must have more of a Tuscany theme so that it remains consistent with other Olive Garden restaurants. Her restaurant becomes a major success. Jordynn's servers are especially adept at convincing patrons to purchase Olive Garden's bottles of wine. Refer to Scenario 14.2. The Tuscany theme Jordynn adopts, including photos of Italian scenes and Italian-style architecture, is part of Olive Garden's ________________. a. category management category management Supermarkets use ...................................... to allocate space for their many product categories, such as cosmetics, cereals, and soups. c. direct selling; automatic vending In terms of selling products, _______________ is the most personal and customizable form of selling, whereas _______________ is one of the least personal. false Retailers play a major role in creating time, place, and possession utility but not form utility. e. loss of some control Scenario 14.2. Jordynn decides to open an Olive Garden franchise. She pays the franchise fees and opens the restaurant. Because Olive Garden is already a well-known name, Jordynn knows her chances of success are higher than if she opened her own restaurant from scratch. Jordynn hires experienced servers with great customer service skills. Jordynn would love to adopt an ancient Roman décor for her restaurant. However, she is told that her restaurant must have more of a Tuscany theme so that it remains consistent with other Olive Garden restaurants. Her restaurant becomes a major success. Jordynn's servers are especially adept at convincing patrons to purchase Olive Garden's bottles of wine. Refer to Scenario 14.2. What is one of the disadvantages Jordynn encountered by opening a franchise instead of her own restaurant? a. higher costs b. retail positioning Scenario 14.3. Delilah owns a pottery store in a small town. In recent years she has been able to expand her pottery store significantly. Demands for her pottery have grown from outside of the area, and many fans follow the photos of new designs and art pieces posted on Delilah's Facebook page. Delilah does not want to open a new location in a more urban area, but she would like her fans from outside the region to be able to order pottery easily. Additionally, some of her firm's most loyal supporters live in towns even more rural than Delilah's. Delilah is looking for a marketing distribution method that would not be too high in cost and would not require a whole lot of time. She already sells through her website, but she wants open up another channel of distribution. Refer to Scenario 14.3. The reason why Delilah chose to locate her one retail location in this small town was because the town has a reputation for being an "art colony." It is located off a major highway, and a lot of travelers stop in. Others are willing to travel from miles away. When Delilah looked at the market, she realized most sellers of art in the community were charging premium pricing. This worked fine for those who traveled from far away to shop for art, but most people who were just passing through on their way to another destination did not want to make such a big investment. Recognizing this, Delilah chose to price her pottery at more reasonable prices. This is an example of __________________. a. atmospherics e. catalog marketing Scenario 14.3. Delilah owns a pottery store in a small town. In recent years she has been able to expand her pottery store significantly. Demands for her pottery have grown from outside of the area, and many fans follow the photos of new designs and art pieces posted on Delilah's Facebook page. Delilah does not want to open a new location in a more urban area, but she would like her fans from outside the region to be able to order pottery easily. Additionally, some of her firm's most loyal supporters live in towns even more rural than Delilah's. Delilah is looking for a marketing distribution method that would not be too high in cost and would not require a whole lot of time. She already sells through her website, but she wants open up another channel of distribution. Refer to Scenario 14.3. Based on her criteria, Delilah should probably use ____________. a. direct selling d. fast and selective product distribution Which of the following is a benefit of franchising for the
franchisor? b. direct-response marketing National Geographic sent Ray his monthly magazine. They also sent him a form letting him know that his subscription was running out. If he acts now, he can save $5 on his
purchase. All Ray has to do to renew his subscription for the upcoming year is fill out a form and mail it with a check to National Geographic. This is an example of ______________. e. retailing When Olive Garden sells wine to its customers in the restaurant, this is known as
________________. e. franchising Scenario 14.1. 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 14.1. Ten years have passed since Nicole opened her first store. She has since opened two more stores, and demand remains high. Her store has been listed as one of the top stores for customer service. Nicole would like to engage in wide-scale expansion in the United States. She is looking at an option that would allow her store to gain fast and selective product distribution without incurring the high cost of constructing her own stores. However, a disadvantage to this option would be the possibility of losing some control over the new stores. Nicole is most likely considering ________________. a. wholesaling b. A vendor maintains a rack of DVDs it sells at a popular drugstore. Which of the following is the best example of
a rack jobber? b. community shopping center Scenario 14.1. 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 14.1. 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 ______________. a. power shopping center d. online retailing Which of the following direct marketing methods will reach the most people, allow customers to shop from the convenience of their homes, and is one of the least expensive? true Extreme value stores include Dollar General, Dollar
Tree, Big Lots, and 99¢ Only Stores. e. Lifestyle shopping centers __________________ are designed to resemble traditional "Main Street" shopping centers and often have a central theme evidenced by the architecture. false In order to qualify as retailing, the transaction between buyer and seller must occur either through the Internet or a physical location. franchisor The supplier in the franchise relationship is known as a . d. specialty-line wholesaler Phil works at a wholesaler that specializes in organic, grass-fed beef. Resellers wanting to purchase from Phil's organization have few options to choose from because its beef products tend not to vary. Phil most likely works for a __________________. e. wholesaling Cardinal Health, based in Dublin, Ohio, specializes in the distribution of pharmaceuticals and medical products. It recently completed a transaction where it provided a national hospital chain with a new supply of pharmaceuticals used to help control pain after surgery. Cardinal Health is engaging in ___________.
a. category killer 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 relationships to source the latest high-tech electronics at lower prices. Therefore, he thinks he can beat Best Buy on the type of products available as well as with lower price points. Joseph is most likely to open up a ________________. |
Refer to scenario 14.1. based upon the description, nicole is engaging in _______.
zusammenhängende Posts
Urheberrechte © © 2024 paraquee Inc.
