Question3 Question text An off-price retailer stocks first-quality, in-season, name-brand apparel, accessories, and footwear for the

entire family with savings at 20 percent to 60 percent from regular department and specialty store prices. This constitutes its ________. Select one: a. goods/service category b. organizational mission c. target market d. competitive advantage Question6 Question text Which target market strategy is most complex in terms of planning and implementation? Select one: a. mass marketing b. concentrated marketing c. differentiated marketing d. market niche Question7 Question text The major difference between value and a value chain is that only ________. Select one: a. value covers tangible benefits b. value covers intangible benefits c. the value chain relates to a channel of distribution d. the value chain covers the total bundle of benefits received by consumers Question8 Question text Airline travel is an example of a( n) ________ service. Select one: a. rented-goods b. regulated goods c. nongoods d. owned-goods Question9 Question text A major potential disadvantage associated with the use of a differentiated marketing versus a mass marketing approach is that ________. Select one: a. a major market segment may be saturated with retail offerings b. an unchosen segment may have more opportunities c. differences in each segment may be small relative to the costs of reaching each

segment d. competition is increased in each segment Question12 Question text A major advantage of franchising from the perspective of the franchisor is ________. Select one: a. franchisor management assistance and troubleshooting b. lower operating costs due to shared purchases and advertising c. rigid operations standards may limit franchisees from taking advantage of trends d. the ability to develop a nationwide distribution system with minimum capital investment