Marketing Ch 12

"Retailing" refers to

the sale of products to final consumers.

All of the following are true of brokers except they bring buyers and sellers together. they are especially useful when buyers and sellers do not come into the market very often. they usually have a permanent relationship with the buyer and seller. the broker's product is information about what buyers need and what supplies are available. they earn commissions based on completion of transactions between buyers and sellers.

they usually have a permanent relationship with the buyer and seller.

Mass-merchandisers

usually operate with low margins on individual items.

A broker's "Product" is

Info about what buyers need and what supplies are available

Which of the following is an example of a limited-function merchant wholesaler? a Cash-and-carry wholesaler b Broker c Mill supply house d General-line wholesaler e Specialty wholesaler

Limited-function wholesalers include cash-and-carry wholesalers, truck wholesalers, drop-shippers, rack jobbers, and catalog wholesalers.

Traditionally, auction companies would MOST likely be used for children's clothing. sports equipment. antique furniture. small appliances. industrial chemicals.

antique furniture

The percentage of new retailing ventures which fail during their first year is

3/4

Which of the following products is most likely to be sold by a drop-shipper? Question options: Skis Toothpaste Greeting cards Printing supplies Coal

Coal

Which of the following statements about single- and limited-line stores is TRUE? 1. Many are small, with high expenses relative to sales. 2. They usually believe in a "buy low and sell high" philosophy. 3. Such stores face the costly problem of having to stock some slow-moving items in order to satisfy their target markets. 4. Most conventional retailers are single- or limited-line stores.

These are all true.

Convenience (food) stores offer

a limited assortment of "fill in" items