AGBU 4340 Chapter 13

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

Wholesaling

________ and ________ do not take title to goods, and they perform only a few channel functions.

Brokers; agents

________ are manufacturer-owned and operated stores that offer prices as low as 50 percent below retail on a wide range of mostly surplus, discounted, or irregular items.

Factory outlets

The lighting in Jake's Steak Restaurant is dim. The chairs are covered in leather and each table is covered with a white linen cloth. The colors are limited to earth tones with an occasional splash of red. Patrons cannot hear any kitchen noises, only a pleasant melody that seems familiar but unrecognizable. The smells are extraordinarily varied. This is a description of the restaurant's ________.

atmosphere

Sears, Target, and Kroger are examples of ________.

corporate chains

Which of the following statements best represents a contractual association between a manufacturer, wholesaler, or service organization and independent business people who buy the right to own and operate one or more units in the system represented by the contract?

franchise

At Neiman Marcus, a first-class department store, customers shop for high-end products and they are assisted in every phase of the shopping process. Neiman Marcus is a ________.

full-service retailer

Specialty stores carry ________ with ________ within them.

narrow product lines; deep assortments

Which of the following is NOT one of a wholesaler's channel functions?

off-price retailing

Springfield, a convenience store, has recently begun to redesign and restock its stores to offer a more upscale environment with products such as house wines and fresh foods. This information indicates that Springfield has most likely changed its ________.

positioning

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

shopping center