Most likely to be true about convenience retailer

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Reference no: EM132262857

1. Which of the following statements is most likely to be true about a convenience retailer?

It offers huge selections and low prices in single product lines.

It appeals to customers by having an accessible location, rapid checkout, extended store hours, and adequate parking.

It combines carefully defined product lines, services, and reputations in attempts to persuade consumers to expend considerable effort to shop at their stores.

It offers a complete array of services to its customers.

2. The new CEO of a struggling cell phone service provider is trying to revitalize the company by revamping its business strategy. The CEO surveys the current service provider market and sees that there are a few large companies with similar business models: customers are required to choose from a limited number of plans, and are then locked into those plans for at least two years by contract. In order to even enter into a contract with the service provider, the customer must have proof of a steady income and be able to pass a credit check. The CEO sees that many individuals in the 15 to 24-year-old age bracket cannot meet these standards and are not being served by the larger companies. She decides to make her company unique by offering no-contract, pay-as-you-go cell phone service. Customers do not need to pass a credit check or provide proof of income in order to sign up for service, and can discontinue service at any time.

According to this scenario and your knowledge of marketing strategies, which statement best explains the new CEO's actions?

The CEO felt sorry for people with bad credit because other cell phone companies were not meeting their needs, so she decided to create a company that did.

The CEO decided to create a unique business plan even though it would not meet the needs of the majority of the population, just so that her company would stand out.

The CEO created a business plan that would target the low-income market, knowing she could take advantage of the fact that other companies require proof of income.

The CEO wanted to make an alternative cell phone service available for indecisive people who disliked the contracts and plan choices required by other companies.

The CEO realized that the youth segment of the market was not being served and decided to fill that niche in the business by creating a business plan that targeted it.

3. David is recently divorced and his ex-wife took most of their kitchen equipment when she relocated. He's decided to host a Pampered Chef party and invite friends who enjoy cooking. He knows that they will enjoy sampling various dips and dishes and will likely buy an item or two. He can purchase Pampered Chef items at a discount and may even earn free items as a benefit of hosting the party. Pampered Chef is classified as a(n):

direct sales retailer.

mass merchandiser.

specialty retailer.

retail cooperative.

4. The communication process begins with a(n) ______ who acts as the source in the communication system as they seek to convey a(n) _____.

sender, message

receiver, attitude

advertiser, slogan

decoder, message

5. Just Jerky makes jerky from bison, kangaroo, and alligator meat. Because of the unique aspect of the products, the company would like to maintain a premium product status and prices their jerky products higher than traditional beef jerky. The company would like to target hunters, campers, and hikers as their main customers.

Just Jerky is considering selling their premium jerky products themselves, through an e-commerce store. Just Jerky would be utilizing:

showrooming.

direct mail.

automatic merchandising.

online retailing.

6. A manufacturer for a child's tablet has received advanced recognition as one of the hottest toys for the upcoming holiday season. As a result, the manufacturer expects to sell an exceptionally large number of its tablets. One concern the company has is the ability to keep the product in stock in retail stores for demanding consumers. The company is most concerned with their:

customer service strategy.

pricing strategy.

location/distribution strategy.

promotional strategy.

Reference no: EM132262857

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