Chapter 11 – Retail and Wholesaling

Question 1

Retailing:

Answer 1

all activities involved in selling products or services directly to final consumers for their personal or nun-business use.

Question 2

retailer, Amount of service types:

Answer 2

1. self..- customers “locate-compare- select” by theselves to save money.
2. liminited…- sales assist cause they have product that need info
3. ful….- carry specialty good and customer want to be “waited on”(served)
   … service retailers

Answer 3

1.Specialty stores- Narrow product line, deep assortment
2.Department stores- Wide variety of product line (ex: clothing, home furnishing)
3.Supermarkets- Wide variety of food, laundry, and household products
4. Convenience stores- Limited line of high-turnover convenience goods
5. Superstores- Large assortment of routinely purchased food/nonfood products
6. Discount stores- Standard merchandise at lower prices
7. Off-Price stores- Changing collection of higher-quality goods at a reduced price

Question 4

Discount stores vs Off-price retailers

Answer 4

at lower prices by accepting lower margins and selling at greater volume.
vs
buys at a less- than regular wholesale prices and sells at less than retail

Question 5

Wholesaling:

Answer 5

all activities involved in selling goods and services to those buying for resale or business use.

Question 6

Types of wholesaler

Answer 6

1. Merchant wholesaler- independently owned business that takes title to the merchandise it handles
2. Manufacturer’s Sales Branches and Offices- wholesaling being sellers or buyers themselves rather than through independent wholesalers.
3. Agents and brokers- they don’t take title to the goods and they perform only a few functions.