Ch 13 (Retailers, Wholesalers, and Their Strategy Planning)

Question 1

covers all of the activities involved in the sale of products to final consumers.

All the activities directly related to the sale of goods and services to the ultimate consumer for personal, non-business use.

Answer 1

Retailing

Question 2

which carried anything they could sell in reasonable volume-were the main retailers in the US

Answer 2

General Stores

Question 3

stores that specialize in certain line of related products rather than a wide assortment

Answer 3

Single-line stores
Limited-line stores

(conventional retailers)

Question 4

type of conventional limited-line store- is usually small and has a distinct “personality”

Answer 4

Specialty Shop

Question 5

larger stores that are organized into many separate departments and offer many product lines

Answer 5

Departments stores

Question 6

says that retailers should offer low prices to get faster turnover and greater sales volumes- by appealing to larger markets

Answer 6

Mass-merchandising concept

Question 7

large stores specializing in groceries with self-service and wide assortments

Answer 7

Supermarkets

Question 8

offer “hard goods” (cameras, Tv’s, and appliances) at substantial price cuts to customers who would go to the discounter’s low-rent store, pay cash, and take care of any service or repair problems themselves

Answer 8

Discount houses

Question 9

are large self-service stores with many departments that emphasize “soft goods”(housewares, clothing, and fabrics) and staples (like health and beauty aids) but still follow the discount house’s emphasis on lower margins to get faster turnover.

Answer 9

Mass-merchandisers

Question 10

very large stores that try carry not only food and drug items but all goods and services that the consumer purchases routinely.

Answer 10

Supercenters (hypermarkets)

Question 11

convenience-oriented variation of the conventional limited-line food stores.

Answer 11

Convenience (food) stores

Question 12

selling and delivering product through vending machine

Answer 12

Automatic vending

Question 13

Salesperson going directly to the consumer’s home

Answer 13

Door-to-door selling

Question 14

says that new types of retailers enter the market as low-status, low-margin, low-price operators and then, if successful, evolve into more conventional retailers offering more services with higher operating costs and higher prices.

Answer 14

wheel of retailing theory

Question 15

carrying any product lines they think they can sell profitably

Answer 15

Scrambled merchandising

Question 16

a firm that owns and manages more than one store- and often it’s many

Answer 16

Corporate chain

Question 17

retailer-sponsored groups- formed by independent retailers- that run their own buying organizations and conduct joint promotion efforts.

Answer 17

Cooperative chains

Question 18

wholesaler-sponsored groups that work with “independent” retailers

Answer 18

Voluntary chains

Question 19

the franchisor develops a good marketing strategy, and the retail franchise holders carry out the strategy in their own units

Answer 19

Franchise operation

Question 20

are concerned with the activities of those persons or establishments that sell to retailers and other merchants, or to industrial, institutional, and commercial users, but that do not sell in large amounts to final consumers.

Answer 20

Wholesaling

Question 21

warehouses that producers set up at separate locations away from their factories- they’re classified as wholesalers by the U.S. Census Bureau and by government agencies in many other countries

Answer 21

Manufacturer’s sales branches

Question 22

own the products they sell

Answer 22

Merchant wholesalers

Question 23

are merchants wholesalers that provide all the wholesaling functions

Answer 23

Service Wholesalers

Question 24

are service wholesalers that carry a wide variety of nonperishable items such as hardware, electrical supplies, furniture, drugs, cosmetics and automobile equipment

Answer 24

General merchandise wholesalers

Question 25

are service wholesalers that carry a narrower line of merchandise than general merchandise wholesalers

Answer 25

Single-line (or general-line) wholesalers

Question 26

are service wholesalers that carry a very narrow range of products and offer more information and service than other service wholesalers.

Answer 26

Specialty wholesalers

Question 27

provide only some wholesaling functions

Answer 27

Limited-function wholesalers

Question 28

operate like service wholesalers-except that the customers must pay cash

Answer 28

Cash-and-carry wholesalers

Question 29

own the products they sell- but they do not actually handle, stock, or deliver them

Answer 29

Drop-shippers

Question 30

specialize in delivering products that they stock in their own trucks

Answer 30

Truck wholesalers

Question 31

specialize in hard-to-handle assortments of products that a retailer doesn't wnat to manage- and jack jobbers usually display the products on their own wire racks

Answer 31

Rack jobbers

Question 32

sell out of catalogs that may be distributed widely to smaller industrial customers or retailers that might not be called by other wholesalers

Answer 32

Catalog wholesalers

Question 33

are wholesalers who do not own they products they sell

Answer 33

Agent wholesalers

Question 34

sells similar products for several noncompeting producers- for a commission on what is actually sold

Answer 34

Manufacturer's agent

Question 35

basically manufacturer's agents who specialize in international trade

Answer 35

Export and import agents

Question 36

bring the buyers and sellers together

Answer 36

Brokers

Question 37

operate like brokers, but they specialize in bringing together buyers and sellers from different countries

Answer 37

Export and import brokers

Question 38

take over the whole marketing job of producers- not just the selling function

Answer 38

Selling agents

Question 39

is a blend of manufacturer's agent and selling agent-handling the entire export function for several producers of similar bt noncompeting lines

Answer 39

Combination export manager

Question 40

provide a place where buyers and sellers can come together and bid to complete a transaction

Answer 40

Auction companies

Question 41

Owned by a single person or partnership and not part of a larger retail institution

Answer 41

Independent | Retailers

Question 42

Owned and operated as a group by a single organization

Answer 42

Chain Stores

Question 43

The right to operate a business | Or to sell a product

Answer 43

Franchises

Question 44

The amount of money the retailer makes as a percentage of sales after the cost of goods sold is subtracted.

Answer 44

Gross | Margin

Question 45

A store housing several departments under one roof. | Each department is headed by a buyer, or department head who selects merchandise.

Answer 45

Department Store

Question 46

A retail store specializing in a given type of merchandise

Answer 46

Specialty Store

Question 47

Large, departmentalized, self-service retailer. Specializes in food. Some use scrambled merchandising.

Answer 47

Supermarket

Question 48

A retail store that stocks pharmacy-related products and services as its main draw.

Answer 48

Drugstore

Question 49

A miniature supermarket, carrying only a limited line of high-turnover convenience goods. (Miniature supermarket, open 24/7)

Answer 49

Convenience Store

Question 50

A retailer that offers consumers very limited service and carries a broad assortment of well-known, nationally branded “hard goods” Ex. Wal-Mart

Answer 50

Full-line discount store

Question 51

A retailing strategy using moderate to low prices on large quantities of merchandise and lover ovels of service to stimulate high turnover of products.

Answer 51

Mass Merchandising

Question 52

Retail store that combines groceries and general merchandise goods with a wide range of services.

Answer 52

Supercenter

Question 53

a retail store that offers a nearly complete selection of single-line merchandise and uses self-service, discount prices, high volume, and high turnover

Answer 53

Specialty Discount Store

Question 54

a specialty discount store that heavily dominate their merchandise segment.

Answer 54

Category Killer

Question 55

Limited-service merchant wholesalers that sell a limited selection of brand name appliances, household items, and groceries on a cash-and- carry basis to members.

Answer 55

Warehouse membership clubs

Question 56

A retailer that sells at prices 25 percent or more below traditional department store prices because it pays cash for its store and usually doesn’t ask for return privileges.

Answer 56

Off-price retailer

Question 57

the use of machines to offer goods for sale.

Answer 57

Automatic Vending

Question 58

- Automatic Vending - Direct Retailing - Direct Marketing - Electronic Retailing

Answer 58

Nonstore Retailing

Question 59

- Door-to-door - Office-to-office - Home Sales Parties

Answer 59

Direct Retailing

Question 60

Dealer agrees to sell in products provided by a manufacturer or wholesaler

Answer 60

Product and Trade Name Franchising

Question 61

An ongoing business relationship between a franchiser and a franchisee

Answer 61

Business Format Franchising

Question 62

1. )Define & Select a Target Market | 2. )Develop a Retailing Mix

Answer 62

Retail Marketing Strategy

Question 63

The mix of products offered to the consumer by the retailer; also called the product assortment or merchandise mix

Answer 63

Product | Offering

Question 64

Consumers areinvolved in the | retail experience.

Answer 64

Interactivity

Question 65

Purchasing goods through mobile devices.

Answer 65

M-commerce

Question 66

The overall impression conveyed by a store’s physical layout, décor, and surroundings

Answer 66

Atmosphere