Chapter 13

Question 1

Retailing

Answer 1

All the activities in selling products or services directly to final consumers for their personal, non-business use.

Question 2

Retailers

Answer 2

A busines whose sales come primarily from retailing.

Question 3

Shopper Marketing

Answer 3

Focusing the entire marketing process on turning shoppers into buyers as they approach the point of sale, whether during in-store, online, or mobile shopping.

Question 4

Omni-channel retailing

Answer 4

This creates a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping, creating a single shopping experience.

Question 5

Speciality stores

Answer 5

A retail store that carries a narrow product line with a deep assortment within that line. (Like shoe stores, carry narrow product lines with deep assortments within those lines. )

Question 6

Department stores

Answer 6

A retail store that carries a wide variety of products lines, each operated as a separate department managed by specialist buyers or merchandisers. (carry a wide variety of product lines.)

Question 7

Amount of Service Classifications

Answer 7

Self-service retailers
Limited service retailer
Full-service retailers

Question 8

Supermarket

Answer 8

A large, low-cost, low-margin, high-volume, self-service store that carries a wide variety of grocery and household products.

Question 9

Convenience stores

Answer 9

Small stores that carry a limited line of high-turnover convenience goods.

Question 10

Superstores

Answer 10

These are much larger than regular supermarkets and offer a large assortment of routinely purchased food products, non-food items, and services. (Walmart)

Question 11

Category killers

Answer 11

They feature stores the size of airplane hangars that carry a very deep assortment of a particular line

Question 12

Service retailer

Answer 12

A retailer whose product line is actually a service; example include hotels, airlines, banks, colleges, and many others.

Question 13

Discount store

Answer 13

A retail operation that sells standard merchandise at lower prices by accepting lower margins and selling at a higher volume.

Question 14

Off-price retailer

Answer 14

A retailer that buys at less-than-regular wholesale prices and sells at less than retail.

Question 15

Independent off-price retailer

Answer 15

An off-price retailer that is independently owned and operated or a division of a larger retail corporation.

Question 16

Factory outlet

Answer 16

An off-price retailing operation that is owned and operated by a manufacturer and normally carries the manufacturer’s surplus, discontinued, or irregular goods.

Question 17

Warehouse club

Answer 17

An off-price retailer that sells a limited selection of brands name grocery items, appliances, clothing, and other goods at deep discounts to members who pay annual membership fees.

Question 18

Corporate chains

Answer 18

Two or more outlets that are commonly owned and controlled.

Question 19

Franchise

Answer 19

These are contractual associations between a manufacturer, wholesaler, or service organization (a franchisor) and independent business people who buy the right to own and operate one or more units in the franchise system.

Question 20

Price policy

Answer 20

This must fit the target market and positioning, product and service assortment, competition, and economic factors.
High markup on lower volume
Low markup on higher volume

Question 21

Shopping center

Answer 21

A group of retail businesses built on a site that is planned, developed. owned, and managed as a unit.

Question 22

Showrooming

Answer 22

This is the practice of checking out merchandise in stores, then buying it online.

Question 23

Wholesaling

Answer 23

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

Question 24

Wholesaler

Answer 24

A firm engaged primarily in wholesaling activities.

Question 25

Merchant wholesaler

Answer 25

An independently owned wholesale business that takes title to the merchandise it handles

Question 26

Broker

Answer 26

A wholesaler who does not take title to goods and whose function is to bring buyers and sellers together and assists in negotiation.

Question 27

Agent

Answer 27

A wholesaler who represents buyers or sellers on a relatively permanent basis performs only a few functions and does not take title to goods.

Question 28

Manufactures´ and retailers´ branches and offices

Answer 28

Wholesaling by sellers or buyers themselves rather than through independent wholesalers.