Chapter 11

Question 1

Retailing

Answer 1

Sell product and service directly to customer for personal use

Question 2

Types of retailers

Answer 2

Specialty store (narrow product line)
Department store (wide variety of product line)
Supermarket (wide variety of food, laundry , and household product)
Convenience store (Limited product line)
Superstore-category killer (deep assortment of particular line)
Superstore-hypermarkets (large assortment of food product non-food and service)

Question 3

Wholesaling

Answer 3

Selling product and service to those who resell of business use

Question 4

Function provided by wholesaler

Answer 4

Selling and promoting (help Manufacturing to sell to small customer)
Buying and assortment building (rearrange product needed by customer)
Bulk breaking (Buy in carload and sell in small quantity)
Transportation (deliver to customer)
Warehouse (Store inventory)
Financing (give card to customer, pay supplier on time)
Risk bearing (Take the risk)
Marketing information (give information)
Management service and advice (Help retailers train stuff and improve the store)

Question 5

Type of wholesalers

Answer 5

Merchant wholesaler (own the goods)
Broker and agent (do not own the goods)

Question 6

Broker

Answer 6

Bring buyer and seller to negotiate

Question 7

Agent

Answer 7

Represents the seller