Chapter 15-Retailing

Question 1

Form of Ownership

Answer 1

Distinguishes retail outlets based on whether individuals, corporate chains, or contractual systems own the outlet

Question 2

Level of Service

Answer 2

The degree of service provided to the customer by self-limited-and full service retailers

Question 3

Merchandise Line

Answer 3

How many different types of products a store carries and in what assortment

Question 4

Retailing

Answer 4

All activities involved in selling renting and providing goods and services to ultimate consumers

Question 5

Depth of product line

Answer 5

The store carries a large assortment of each item

Question 6

Breadth of Product line

Answer 6

The variety of different items a store carries

Question 7

Scrambled merchandising

Answer 7

Offering several unrelated product lines in a single retail store

Question 8

Hyper market

Answer 8

A large store (over 200,000 sq ft) offering consumers everything in a single outlet

Question 9

Retail positioning matrix

Answer 9

Positions retail outlets on two dimensions: Breadth of product line and value added

Question 10

Retailing mix

Answer 10

Activities related to managing the store and merchandise

Question 11

Off-price retailing

Answer 11

selling brand name things at lower than regular prices

Question 12

Central business district

Answer 12

The oldest retail setting-downtown area

Question 13

Wheel of retailing

Answer 13

A concept that describes how new retail outlets enter the market s low status low margin stores and add embellishments that raise prices and status

Question 14

Retail life cycle

Answer 14

mimics product life cycle

Question 15

Integrated multi channel retailing

Answer 15

Utilizing a seamless combination of traditional stores and non traditional formats such as catalogues, television, electronic kiosks, and online retailing