Chapter 13

Question 1

Independent firms or individuals whose principal function is to bring buyers and sellers together to make sales.

Answer 1

Brokers

Question 2

An approach to managing the assortment of merchandise in which a manager is assigned the responsibility for selecting all products that consumers in a market segment might view as substitutes for each other, with the objective of maximizing sales and profits in the category.

Answer 2

Category Management

Question 3

Distinguishes retail outlets based on whether independent retailers, corporate chains, or contractual systems own the outlet.

Answer 3

Form of Ownership

Question 4

Describes the degree of service provided to the customer from three types of retailers: self-, limited-, and full-service.

Answer 4

Level of Service

Question 5

Agents who work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory. Also called manufacturers’ representatives.

Answer 5

manufacturers’ agents

Question 6

Describes how many different types of products a store carries and in what assortment.

Answer 6

merchandise line

Question 7

Independently owned firms that take title to the merchandise they handle.

Answer 7

merchant wholesalers

Question 8

Retailers that utilize and integrate a combination of traditional store formats and nonstore formats such as catalogs, television home shopping, and online retailing.

Answer 8

multichannel retailers

Question 9

The process of growth and decline that retail outlets, like products, experience, consisting of the early growth, accelerated development, maturity, and decline stages.

Answer 9

retail life cycle

Question 10

A matrix that positions retail outlets on two dimensions: breadth of product line and value added, such as location, product reliability, or prestige.

Answer 10

retail positioning matrix

Question 11

All activities involved in selling, renting, and providing products and services to ultimate consumers for personal, family, or household use.

Answer 11

retailing

Question 12

The activities related to managing the store and the merchandise in the store, which include retail pricing, store location, retail communication, and merchandise.

Answer 12

retailing mix

Question 13

Offering several unrelated product lines in a single store.

Answer 13

scrambled merchandising

Question 14

The use of displays, coupons, product samples, and other brand communications to influence shopping behavior in a store.

Answer 14

shopper marketing

Question 15

A consumer’s perception of an encounter with a store’s physical environment, personnel, and policies and procedures.

Answer 15

shopping experience

Question 16

Using the telephone to interact with and sell directly to consumers.

Answer 16

telemarketing

Question 17

A concept that describes how new forms of retail outlets enter the market.

Answer 17

wheel of retailing