Chapter 16

Question 1

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

Answer 1

Retailing

Question 2

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

Answer 2

Former Ownership

Question 3

Is the degree of service provided to the customer from three types of the retailers: Self-, limited-, and full-services

Answer 3

Level of Service

Question 4

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

Answer 4

Merchandise Line

Question 5

Means that the store carriers a large assortment of each product line.

Answer 5

Depth of Product Line

Question 6

Describes the variety of different product items a store carriers.

Answer 6

Breadth of Product Line

Question 7

Consists of offering several unrelated product lines in a single store

Answer 7

Scrambled Merchandise

Question 8

Form of scrambled merchandising, which consists of a large store (more than 200,000 square feet) that offers everything in a single outlet, eliminating the need for consumers to shop at more than one location.

Answer 8

Hypermarket

Question 9

Consists of competition between very dissimilar types of retail outlets that results from a scrambled merchandising policy.

Answer 9

Intertype Competition

Question 10

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

Activities related to managing the store and the merchandise in the store, which includes retail pricing, store location, retail communication, and merchandise.

Answer 11

Retailing Mix

Question 12

Consists of selling brand-name merchandise at lower than regular prices.

Answer 12

Off-Price Retailing

Question 13

Oldest retail setting, usually located in the community downtown area.

Answer 13

Central Business Distinct

Question 14

Retail locations that consists of 50 to 150 stores that typically attract customers who live or work within 5- to 10- mile range, often containing two or three anchor stores

Answer 14

Regional Shopping Centers

Question 15

Retail location that typically has one primary store (usually a department store branch) are often 20 to 40 smaller outlets, serving a population of consumers who are within a 10- to 20- minute drive.

Answer 15

Community Shopping Centers

Question 16

Retail location that consists of a cluster of neighborhood stores to serve people who are within 5- to 10- minute drive

Answer 16

Strip Mall

Question 17

Retail location that consists of a huge shopping strip with multiple anchor (or national) stores.

Answer 17

Power Center

Question 18

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

Answer 18

Shopping Market

Question 19

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

Answer 19

Category Management

Question 20

Concept that describes how new forms of retail outlets enter the market

Answer 20

Wheel of Retailing

Question 21

Process of growth and decline that retail outlets, like products, experience, consisting of the early growth, accelerated development, maturity, and decline

Answer 21

Retail Life Cycle

Question 22

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

Answer 22

Multichannel Retailers

Question 23

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

Answer 23

Merchant Wholesalers

Question 24

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

Answer 24

Manufacturers Agents

Question 25

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

Answer 25

Brokers

Question 26

Account 3.8 million stores in the United States

Answer 26

Independent Retailers

Question 27

Multiple outlets under common ownership

Answer 27

Corporate Chain

Question 28

Are independent stores work together to act as a chain (Franchise)

Answer 28

Contractual System

Question 29

What is Example of a Full Service

Answer 29

Nordsterms

Question 30

What is an Example of Direct Selling

Answer 30

Mary Kay, Tupperware, Must buy from sales Rep

Question 31

Non-Store Retailing

Answer 31

Direct Selling
Telemarketing
Online Retailing
Television Home Shopping
Direct Mail and Catalogs
Automatic Vending

Question 32

Examples of Off-Price Retailing

Answer 32

Warehouse Clubs
Outlet Stores
Unpredictable Selection
Single-price or extreme value retailers