MARK 3336 CH 13

franchise organization

A _______ is a contractual association between a franchisor (a manufacturer, wholesaler, or service organization) and franchisees (independent business people who buy the right to own and operate one or more business units in the franchise system).

retailer cooperative

A _______ is a group of independent retailers who jointly establish a central buying organization and conduct joint promotion efforts.

department store

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

superstore

A __________ is a store that offers a large assortment of routinely purchased food products, nonfood items, and services.

convenience store

A ___________is 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.

supermarket

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

service retailer

A ________is a retailer whose product line is actually a service; examples includes hotels, airlines, banks, colleges, and many others.

corporate chain

A _______is two or more outlets that are commonly owned and controlled. Corporate chains appear in all types of retailing but they are strongest in department stores, discount stores, food stores, drugstores, and restaurants.

What is considered promotion decisions?

Advertising, personal selling, sales promotion, public relations, and direct marketing are promotion decisions.

off-price retailer

An __________ is a retailer that buys at less-than-regular wholesale prices and sells at less than retail.

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Choosing locations that are accessible to the target market in areas that are consistent with the retailer's positioning are aspects of the place decision.

__________ is a major part of a product variable and is an example of a product assortment and services decision.

Deciding on store atmosphere

Which of the following is a wholesaler-sponsored group of independent retailers engaged in group buying and merchandising?

Voluntary chain

Limited-service wholesalers

__________ offer fewer services than full-service wholesalers.

Full-service wholesalers

__________ provide a full line of services: carrying stock, maintaining a sales force, offering credit, making deliveries, and providing management assistance.

Industrial distributors

______________ sell to manufacturers rather than to retailers. They provide several services, such as carrying stock, offering credit, and providing delivery. They may carry a broad range of merchandise, a general line, or a specialty line.

Wholesale merchants

__________sell primarily to retailers and provide a full range of services. General merchandise wholesalers carry several merchandise lines, whereas general line wholesalers carry one or two lines in great depth.

Deciding on store atmosphere

is a major part of a product variable and is an example of a product assortment and services decision. The retailer's product assortment should differentiate it while matching target shoppers' expectations.

Retailing

is all the activities involved in selling goods or services directly to final consumers for their personal, nonbusiness use.

Deciding on either high markups on lower volume or low markups on higher volume

is an example of a price decision. A retailer's price policy must fit its target market and positioning, product and service assortment, the competition, and economic factors.

Wheel-of-retailing is refers to __________.

new types of retailers that usually begin as low-margin, low-price, low-status operations but later evolve into higher-price, higher-service operations, eventually becoming like the conventional retailers they replaced

Choosing locations that are accessible to the target market in areas that are consistent with the retailer's positioning are most relevant to the __________.

place decision

Deciding on either high markups on lower volume or low markups on higher volume is an example of a __________.

price decision