Chapter 11

Question 1

What is retailing?

Answer 1

All the activities involved in selling goods or services directly to final consumers for their personal, nonbusiness use.

Question 2

What is shopper marketing?

Answer 2

Focusing the entire marketing process on turning shoppers into buyers as they move along toward the point of sale, (whether in-store, online, or mobile shopping)

Question 3

What are the observable trends in the way the buyers shop? What does it change for retailers? How can they adapt to these changes?

Answer 3

Since more and more consumers are omni-channel buyers, online retailers (such as Amazon) have gained in popularity, and traditional store retailers are struggling to keep up.
To adapt, traditional store retailers must adopt omni-channel retailing, prioritizing a seamless cross-channel buying experience integrating in-store, online and mobile shopping.

Question 4

What are the possible amounts of service retailers can offer?

Answer 4

self-service
limited service
full service

Question 5

What are the types of product line sold?

Answer 5

specialty stores
department stores
supermarkets
convenience stores
superstores
service businesses

Question 6

What are the possible relative prices?

Answer 6

discount stores
off-price retailers

Question 7

What are the possible retail organizations?

Answer 7

corporate chains
voluntary chains
retailer cooperatives
franchise organizations

Question 8

What is omni-channel retailing?

Answer 8

Integrating all available shopping channels and devices into a seamless customer shopping experience

Question 9

What are the major retailer marketing decisions involved with marketing?

Answer 9

1- segmenting the market and finding your target market
2- how will they differentiate and position themselves in these markets
3- decide on a retail marketing mix (4 p’s)

Question 10

What are the 5 promotion tools?

Answer 10

Advertising
Personal selling
Sales promotion
PR
Direct and digital marketing

Question 11

What are some of the trends seen in retailing?

Answer 11

Rise of megaretailers
Growing importance of retail technology
Green retailing
Global expansion of major retailers

Question 12

What is wholesaling?

Answer 12

All the activities involved in selling goods or services to those who are buying for resale or business use.

Question 13

What are the 3 wholesaler types?

Answer 13

Merchant wholesalers
Brokers and agents
Manufacturers’ and retailers’ branches and offices

Question 14

What does a merchant wholesaler do?

Answer 14

Take possession of the goods

Question 15

What is a full-service wholesaler?

Question 16

What is a limited-service wholesaler?

Question 17

What do brokers and agents do?

Answer 17

They don’t take possession of the goods but are paid a commission for aiding companies in buying and selling

Question 18

What do manufacturers’ and retailers’ branches and offices do?

Answer 18

They are wholesaling operations conducted by non-wholesalers to bypass the wholesalers

Question 19

What is a progressive wholesaler?

Answer 19

Wholesaler that looks for better ways to meet the changing needs of their suppliers and target customers

Question 20

How do wholesalers add value to the entire marketing channel?

Answer 20

By increasing the efficiency and effectiveness of it, with the ultimate goal of building value-adding customer relationships