Chapter 13
What is a retailer cooperative?
A group of independent retailers who jointly establish a central buying organization and conduct joint promotion efforts
A supermarket is __________.
A large, low-cost, low-margin, high-volume, self-service store that carries a wide variety of grocery and household products
Which of the following is most relevant to the place decision?
Choosing locations that are accessible to the target market in areas that are consistent with the retailer's positioning
Full-service wholesalers __________.
provide an entire line of services
Tiffany and Neiman Marcus are classified as __________ retailers.
full-service
What is a convenience store?
A small store, located near a residential area, that is open long hours seven days a week and carries a limited line of high-turnover convenience goods
Which one of the following statements does NOT portray the success of global expansion of major retailers?
Adapting the operations that work well in the home country create success abroad.
Which of the following describes an off-price retailer?
Buys at less-than-regular wholesale prices and sells at less than retail
Which of the following refers to two or more outlets that are commonly owned and controlled?
Corporate chain
Which of the following is an example of a price decision?
Deciding on either high markups on lower volume or low markups on higher volume
__________ is a major part of a product variable, and is an example of a product assortment and services decision.
Deciding on store atmosphere
__________ sell to manufacturers rather than to retailers.
Industrial distributors
Which of the following is an example of a discount store?
Kohl's
__________ offer fewer services than other wholesalers.
Limited-service wholesalers
__________ have shifted the balance of power between retailers and producers.
Megaretailers
__________ are the largest single group of wholesalers.
Merchant wholesalers
_________ retailing refers to the creation of a seamless cross-channel buying experience.
Omni-channel
__________ are huge unenclosed shopping centers consisting of a long strip of retail stores including freestanding anchor stores
Power centers
Deciding on either high markups on lower volume or low markups on higher volume is an example of a __________.
Price Decision
Which of the following describes showrooming?
The shopping practice of coming into retail stores to check out merchandise and prices but instead buying from an online-only rival
Which of the following describes wholesale merchants?
They sell primarily to retailers and provide a full range of services.
__________ sell primarily to retailers and provide a full range of services.
Wholesale merchants
A shopping center is __________.
a group of retail businesses built on a site that is planned, developed, owned, and managed as a unit
A voluntary chain is __________.
a wholesaler-sponsored group of independent retailers engaged in group buying and merchandising
Which of the following describes wholesaling?
all the activities involved in selling goods and services to those buying for resale and business use
Which of the following describes retailing?
all the activities involved in selling goods or services directly to final consumers for their personal, nonbusiness use
L.L. Bean has turned its flagship store into a full-fledged outdoor adventure center, which is an example of __________.
experiential retailing
Deciding on store atmosphere is a major part of a product variable, and is an example of a __________.
product assortment and services decision
Wholesalers add customer value through the __________ they offer.
products and services
Advertising, personal selling, sales promotion, public relations, and direct marketing are all considered __________.
promotion decisions
A(n) __________ is a store that offers a large assortment of routinely purchased food products, nonfood items, and services.
superstore
A corporate chain is best defined as __________.
two or more outlets that are commonly owned and controlled