Chapter 11: Retailing and Wholesaling

Service Retailers

a retailer whose product line is actually a service

Department Stores

carry a wide variety of product lines

Purchasing Agents

generally have a long term relationship with buyers and make purchases for them

Wholesale Merchants

sell primarily to retailers and provide a full range of services

Corporate Chain

two or more outlets that are commonly owned and controlled

Shopping Center

a group of retail businesses built on a site that is planned, developed, owned, and managed as a unit

Factory Outlets

manufacturer owned and operated stores

Agents

represent either buyers or sellers on a more permanent basis

Cash and Carry Wholesalers

carry a limited line of fast moving goods and sell to small retailers for cash

Franchise Organization

contractual association to buy the rights to own and operate one or more units in the system

Which of the following statements about the​ omni-channel buyer is NOT​ correct? A. They readily research products and prices​ online, shopping digitally from​ home, from​ work, in​ stores, or anywhere in between. B. ​Omni-channel buying calls for​ omni-channel retailing C. ​Omni-channel buyers do not need the​ bricks-and-mortar environment in which to shop. D. They shift easily across online and​ in-store channels throughout the buying process. E. They will cause a massive shift in how store retailers operate.

C. ​Omni-channel buyers do not need the​ bricks-and-mortar environment in which to shop.

Category Killers

a giant specialty store that carries very deep assortment of a particular line

Of product and services​ assortment, price,​ promotion, and​ place, which plays one of the most important roles in aligning target markets and​ positioning? A. Promotion B. Services assortment C. Price D. Product assortment E. Place

E. Place

Limited Service Wholesalers

offer fewer services and comprised of cash and carry, truck wholesalers, drop shippers, rack robbers, producers cooperative, and mail order wholesalers

Warehouse Clubs

operate huge, warehouse like facilities selling a limited selection of products at deep discounts to members who pay annual membership fees

Truck Wholesalers (Truck Jobbers)

perform primarily a selling and delivery function, carry a limited line of semi-perishable merchandise sold for cash

Superstores

a store much larger than a regular supermarket that offers a large assortment of routinely purchased food products, nonfood items, and services

Retailing

all the activities involved in selling products or services directly to final consumers for their personal, nunbusiness use

Independent Off Price Retailers

independently owned and run or are divisions of larger retail corporations

Full Service Wholesalers

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

The trend of​ ________ has resulted in different types of retailers now selling the same products at the same prices to the same consumers. A. ​pop-up stores B. tighter consumer spending C. green retailing D. retail convergence E. social media retailing

D. retail convergence

Supermarkets

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

Which of the following sets of characteristics correctly classifies​ retailers? A. Amount of service​ offered, breadth and depth of product​ lines, relative prices they​ charge, and store size B. Location of the​ store, relative prices they​ charge, target​ customers, and store size C. Breadth and depth of product​ lines, relative prices they​ charge, location of the​ store, and store size D. Amount of service​ offered, the breadth and depth of product​ lines, relative prices they​ charge, and how they are organized E. Amount of service​ offered, the relative prices they​ charge, target​ customers, and store size

D. Amount of service​ offered, the breadth and depth of product​ lines, relative prices they​ charge, and how they are organized

Manufacturers' Agents

represent two or more manufacturers entire output

Off Price Retailers

a retailer that buys at less than regular wholesale prices and sells at less than retail

Brokers

brings buyers and sellers together and assist in negotiation

Retailers

business whose sales come primarily from retailing

Omni Channel Retailing

creating a seamless cross channel buying experience that integrates in store, online, and mobile shopping

Which of the following correctly describes​ omni-channel retailing? A. Allowing one supplier to sell to multiple retailers through multiple channels B. Developing close partnerships between wholesalers and retailers C. Setting up franchises in different locations with seamless delivery of integrated services D. Creating a seamless​ cross-channel buying experience that integrates​ in-store, online, and mobile shopping E. Selling products online environments

D. Creating a seamless​ cross-channel buying experience that integrates​ in-store, online, and mobile shopping

The only reason for a wholesaler to exist is to​ ___________________ by increasing the efficiency and effectiveness of the entire marketing channel. A. facilitate distribution B. lower logistical costs C. eliminate marketing costs D. replace a sales team E. add value

E. add value

Merchant Wholesalers

an independently owned business that takes title to the merchandise it handles

Drop Shippers

do not carry inventory or handle the product, once an order is received they select a manufacturer to ship directly to the customer

Producers Cooperative

farmer owned members that assemble farm produce for sale in local markets

Wholesalers

firms engaged primarily in wholesaling activities

Shopper Marketing

focusing the entire marketing process toward turning shoppers into buyers as they move along toward the point of sale

Retailer Cooperative

group of independent retailers who jointly establish a central buying organization and conduct joint promotion effects

Wholesaling

includes all the activities involved in selling goods and services to those buying them for resale or business use

Industrial Distributors

sell to manufacturers rather than to retailers

Mail Order (Web) Wholesalers

sends catalogs to or maintain websites for retail, industrial, and institutional customers

Rack Jobbers

serve grocery and drug retailers in mostly nonfood items

Convenience Stores

small stores that carry a limited line of high turnover convenience goods

Commission Agents

take physical possession of products and negotiate sales

Voluntary Chain

wholesaler sponsored group of independent retailers engaged in group buying and merchandising

Specialty Stores

carry narrow product lines with deep assortments with those lines

Which of the following statements about major retail trends is NOT​ true? A. The green movement has not quite taken hold. B. Major retailers are expanding globally. C. Retailers have now adjusted to the new economic realities. D. There is a continued rise of megaretailers. E. Differentiation is now more difficult.

A. The green movement has not quite taken hold.

​Omni-channel retailing goes beyond just helping​ in-store customers as they​ cross-shop on mobile devices and requires​ _________________________. A. carefully integrating the entire range of available shopping channels B. careful​ targeting, differentiation, and positioning C. integration of product​ assortment, services​ mix, and price D. extra attention to product​ assortment, store​ atmosphere, and price E. carefully integrating all elements of the marketing mix to maximize value

A. carefully integrating the entire range of available shopping channels

Attracting and holding customers presents great challenges and decision points for retailers. Of the​ following, which is NOT one of the areas in which they face major​ decisions? A. Decisions about targeting B. Social media and visibility decisions C. Decisions regarding segmentation D. Store differentiation and positioning decisions E. Retail marketing mix decisions

B. Social media and visibility decisions

The three major groups of wholesalers are​ ________. A. merchant​ wholesalers, full-service​ wholesalers, and​ limited-service wholesalers B. merchant​ wholesalers, brokers and​ agents, and​ manufacturers' and​ retailers' branches and offices C. merchant​ wholesalers, wholesale​ clubs, and​ big-box stores D. merchant​ wholesalers, brokers and​ agents, and​ full-service wholesalers E. merchant​ wholesalers, brokers and​ agents, and wholesale clubs

B. merchant​ wholesalers, brokers and​ agents, and​ manufacturers' and​ retailers' branches and offices