CH 13
________ sell standard merchandise at lower prices by accepting lower margins and selling higher volume.
discount stores
Retailers such as Walmart, Costco, ALDI, and Family Dollar are known for maintaining low prices and rarely offering sales or other discounts, a practice known as ________.
every day low pricing
Bass Pro Shop is in the process of converting a landmark 32-story, stainless steel basketball arena in Memphis, formerly known as the Pyramid, into a huge Bass Pro Shops Outdoor World retail store. The facility will include a restaurant, aquarium, waterfall, as well as a hotel and museum. Shoppers will even be able to test drive watercraft from an adjoining marina on the banks of the Mississippi River. This is an example of a growing retail marketing trend known as ________.
experiencial retailing
High-end department stores, such as Nordstrom and Neiman Marcus, which offer buyers more specialty products and actively seek to assist customers in every phase of the shopping process, are often referred to as ________.
full service retailers
The Brazilian sandal maker Havaianas is known for opening temporary stores, or ________, at beaches, festivals, and other summer hot spots around the wo
pop up stores
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 goods.
convenience store
Home Depot and PetSmart are examples of ________.
convenience stores
Sears, Target, and Kroger are examples of ________.
corporate chains
In an effort to compete against large firms, some independent stores band together to set up a jointly owned, central wholesale operation and conduct joint merchandising and promotion efforts as Ace Hardware has done. What is this organization called?
retail cooperative
A large retailer of home improvement and construction products offers "how-to" classes for do-it-yourselfers, featuring instructions on how to complete home improvement projects using products sold at its stores. This is an example of how the retailer has differentiated itself through its _______
services mix
With increased availability of smartphones and mobile computing, many shoppers now check out merchandise at physical stores but then buy products online using a computer or mobile device, sometimes even while they are in the store. This practice is widely known as ________.
show rooming
Most shopping centers are ________.
strip malls
All of the activities involved in selling goods and services to those buying them for resale or business use is called what?
wholesaling
Which of the following wholesaler's channel functions is exemplified by buying in carload lots and then dividing these lots into small quantities?
bulk breaking
