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Questions and Answers
Automated retailing is a retail channel in which merchandise or services are stored in a machine and dispensed to customers.
Automated retailing is a retail channel in which merchandise or services are stored in a machine and dispensed to customers.
True
Shoppers often have only a general sense of what they want.
Shoppers often have only a general sense of what they want.
False
Stores offer immediate gratification to customers.
Stores offer immediate gratification to customers.
True
Multichannel retailers can leverage their stores to lower the cost of fulfilling orders and processing returned merchandise.
Multichannel retailers can leverage their stores to lower the cost of fulfilling orders and processing returned merchandise.
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Retailers need to provide a consistent brand image of themselves and their private-label merchandise across all channels.
Retailers need to provide a consistent brand image of themselves and their private-label merchandise across all channels.
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A multichannel retailer is one that:
A multichannel retailer is one that:
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Current retailers are using catalog channels for:
Current retailers are using catalog channels for:
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Which of the following statements is true of TV home shopping?
Which of the following statements is true of TV home shopping?
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Automated retailing:
Automated retailing:
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Judy regularly buys cosmetics from a salesperson. She invites her friends over to her home for an evening of socializing along with everyone getting makeovers. Afterwards, the salesperson showed the product that was used for their makeovers, and they were given the opportunity to purchase the product and browse through a catalog for additional products to purchase. This is an example of a(n):
Judy regularly buys cosmetics from a salesperson. She invites her friends over to her home for an evening of socializing along with everyone getting makeovers. Afterwards, the salesperson showed the product that was used for their makeovers, and they were given the opportunity to purchase the product and browse through a catalog for additional products to purchase. This is an example of a(n):
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Which of the following is a benefit of ONLY store channel shopping?
Which of the following is a benefit of ONLY store channel shopping?
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Which retail channel has the least perceived risk when purchasing products?
Which retail channel has the least perceived risk when purchasing products?
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Ryan needs a painkiller. He goes to the nearby drugstore, buys it, and uses it. Which of the following benefits offered by stores can be seen in the given example?
Ryan needs a painkiller. He goes to the nearby drugstore, buys it, and uses it. Which of the following benefits offered by stores can be seen in the given example?
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Which retail channel has the ability to economically provide the most product information for the consumer purchasing products?
Which retail channel has the ability to economically provide the most product information for the consumer purchasing products?
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By obtaining information about customer preferences and past purchase behavior, retailers operating an electronic channel are able to:
By obtaining information about customer preferences and past purchase behavior, retailers operating an electronic channel are able to:
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_____ enables online retailers to collect customer information as they navigate through the retailers' websites.
_____ enables online retailers to collect customer information as they navigate through the retailers' websites.
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Retailers can use multiple channels synergistically by:
Retailers can use multiple channels synergistically by:
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_____ involves selling the same products at the same prices through the same distribution system for all channels.
_____ involves selling the same products at the same prices through the same distribution system for all channels.
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Study Notes
Automated Retailing
- Automated retailing refers to a retail channel where products or services are stored in machines and dispensed to customers.
- Effective in high-traffic areas, maximizing visibility and access.
Customer Behavior and Retail Experience
- Shoppers typically have a clear idea of what they want, contrary to the assertion of only a general sense.
- Stores provide immediate gratification, allowing customers to obtain products instantly upon purchase.
Multichannel Retailing
- Multichannel retailers utilize physical stores to reduce order fulfillment costs and streamline return processes.
- Consistency in brand image and private-label merchandise is crucial across all sales channels.
- A multichannel retailer sells products or services through multiple channels unlike single-channel retailers.
Catalog and Television Retailing
- Catalog channels are used primarily for building brand image and driving traffic to physical stores.
- TV home shopping allows customers to see product demonstrations, enhancing purchase confidence.
Benefits of Retail Channels
- Store channel shopping uniquely offers immediate gratification, enabling customers to acquire products instantaneously.
- Catalog retailing has the least perceived risk since customers can evaluate products with detailed information.
Online Retail and Customer Interaction
- The Internet provides extensive product information economically, benefiting consumer purchasing decisions.
- Retailers can respond swiftly to consumer inquiries through collected customer data on preferences and behaviors.
- Apps are used by online retailers to track customer behavior and enhance shopping experiences.
Synergy Across Channels
- Effective multichannel strategies involve promoting one channel through another, encouraging integrated shopping experiences.
- Complete integration is selling the same products through the same distribution system at uniform prices across all channels.
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Description
Test your knowledge on key retail concepts with these flashcards from Chapter 3. Explore terms related to automated retailing, customer shopping behavior, and the dynamics of multichannel retailing. Perfect for students preparing for retail management or marketing assessments.
