Chapter 11 retailing and wholesaling

Retailing involves sales primarily to which group of people?

Consumers

Which of the following is not considered a retailer marketing decision?

Financing

The practice of charging higher prices on an every day basis while offering frequent promotions and sales is known as what?

High-Low pricing

retailer

a business whose sales come primarily from retailing

franchise

a contractual association between a manufacturer, wholesaler, or service organization and independently businesspeople who buy the right to own and operate one or more units in the franchise system

wholesaler

a firm engaged primarily in whosalling activites

category killer

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

shopping center

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

supermarket

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

discount store

a retail operation that sells standard merchandise at lower prices by accepting lower margins and selling higher volume

specialty store

a retail store that carries a narrow product line with a deep assortment within that line

department store

a retail store that carries a wide variety of product lines, each operated as a separate department managed by specialist buyers and merchandisers

off-price retailer

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

service retailer

a retailer whose product line is actually a service, hotels airlines and banks

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.

superstore

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

risk bearing

absorb risk by taking title and breaking the cost of theft

wholesaling

all activités involved in selling good and services to those buying for resale or business use

retailing

all the activities involved in selling good and services directly to final consumers for their personal nonbusiness use

merchant wholesaler

an independently owner wholesaler business that takes title to the merchandise it handles

independent off-price retailer

an off-price retailer that is either independently owned and ru or is a division of a larger retail corporation

warhouse club

an off-price retailer that sells a limited selection of bran name grocery items, appliances, clothing, and other goods at deep discounts to members who pay annual membership fees.

factory outlet

an off-price retailing operation that is owned and operated by a manufacturer and normally carries the manufacturer's surplus, discounted, or irregular goods.

retailers and wholesalers are similar in which of the following?

both focus on bringing value to customers

buying and assortments building

can select items and build assortments needed by custoemrs

how can a smaller retailer compete with a megaretailer in the same market?

create unique offerings to gain proper positioning

finacing

finance their customers

market info

give info to suppliers and customers about competitors

management service and advice

help retailers train their salesclerks, improve store layouts, and displays

warehousing

hold inventories, reducing inventory costs and risks of suppliers and customers

power centers

huge unenclosed shopping center consisting of a long strip of retail stores

which of the following dos not explain why megaretailers are becoming so successful?

more innovative advertising techniques

Which of he following best describes a retailer who buys at less-than -regular wholesale prices and sees at less than retail?

off-price retailer

transportation

provide quicker delivery

bulk breaking

save their customers money by buying in carload lists and breaking bulk

wholesaler marketing deicison

segmentation and targeting, differentiation and positioning, marketing mix-product and service assortments, price, promotion, and distribution

retailer marketing decisions

segmentation and targeting, store differentiation and positioning, and retail marketing mix

which of the following is a decision that is made by both retailers and wholesalers?

segmentation of target market

life style centers

smaller, open-air malls with upscale stores, convenient locations, and nonmetal activities

showrooming

the shopping practice of coming into retail store showrooms to check out merchandise and prices but instead buying from an online-only rival, sometimes while in the store

corporate chains

two or more outlets that are commonly owned and controlled

shopper marketing

using in-store promotions and advertising to extend bran equity to "the last mile" and encourage favorable point-of-purchase decisions

selling and promoting

wholesalers sales forces help manufacturers reach many small customers a a low cost

manufacturers and retailers branches and offices

wholesaling by sellers and buyers themselves rather than through independent wholesalers