Retailing

Question 1

Retailing

Answer 1

Includes all the activities involved in selling goods or services directly to their customers for non-business use

Question 2

Retailer

Answer 2

A business whose sales come primarily from retailing

Question 3

Specialty store (breadth and depth)

Answer 3

Narrow product line
Deep assortment of products

Question 4

Department store (breadth and depth)

Answer 4

Several product lines each operated as a separate department by specialists

Question 5

Supermarket (breadth and depth)

Answer 5

Large selection, low cost, high volume
Designed to meet total needs of customer

Question 6

Convenience Store (breadth and depth)

Answer 6

Limited line of high turnover products at slightly higher prices

Question 7

Discount store (breadth and depth)

Answer 7

Standard merchandise
Lower margins, high volumes

Question 8

Off price retailer (breadth and depth)

Answer 8

Sells products at less than wholesalers and retailers
Same product assortments

Question 9

Superstore (breadth and depth)

Answer 9

Large store, routinely purchased items

Question 10

Wheel of retailing

Answer 10

How new retailers enter a market and how they evolve over time

Question 11

What is the wheel of retailing designed to do?

Answer 11

Describe present merchandise and service strategies of retailers
Predict how retailers will compete in the future