Exam 11: Retailing and Wholesaling

Customers at Carat, a premium jewelry store, are encouraged to make an appointment before a visit so that a customer service representative is assigned to them. These representatives help every customer make a purchase that meets his or her needs and budget after considering numerous options. The different styles and special features of the jewelry are explained to each customer to aid the purchase decision. In this case, Carat is an example of a(n)________.

The suppliers who are not adding value based on cost and quality are more in demand than their competitors.

The rise of megaretailers has shifted the balance of power between retailers and producers. Since megaretailers have access to numerous consumers, they have significant power when dealing with manufacturers.

Shopper marketing involves focusing the entire marketing process - from product and brand development to logistics, promotion, and merchandising - toward turning shoppers into buyers at the point of sale.

Which wholesaler channel function is demonstrated when a wholesaler's sales force helps a manufacturer reach many small customers at a low cost?

Which of the following statements is true of shopping centers?

Office Solutions is a large retailer that specializes in office products and services. Their offerings include a wide and deep assortment of computers, desk furniture, printers, office supplies, stationery, and printing. Office Solutions is most likely an example of a ________.

Stores that provide moderate sales assistance because they carry shopping goods about which customers need a moderate level of information are called ________ retailers.

Food Galore is a regional chain of supermarkets in the Midwest. The primary role of the staff is to restock shelves and operate cash registers. Customers locate, compare, and select their groceries and other sundry items. Food Galore is most likely a ________.

In an automated warehouse, orders are fed directly from the retailer's information system into the wholesaler's, and the items are picked up by mechanical devices and taken to a shipping platform where they are assembled.

Hamilton Wholesaling, an electronics wholesaling firm, provides many services to customers including buying, storing, and transporting expensive and delicate electronics equipment. Hamilton takes title of ownership to all goods that the firm handles. Hamilton is most likely a(n)________.

Bikers and non-bikers alike enjoy dining at the Harley Davidson Café in Las Vegas. Several Harley Davidson models are on display as well as a very large, uniquely crafted American flag. Menu items include the Easy Rider, the Choppers Cobb salad, and the Harley Hog sandwich. The Harley Davidson Café most likely uses ________.

Specialty stores are characterized by ________.

Three types of shopping centers are regional shopping centers, community shopping centers, and neighborhood shopping centers or strip malls. Describe how they differ from each other.

________ refer to two or more outlets that are commonly owned and controlled.

Wholesalers absorb risk by taking title and bearing the cost of theft, damage, spoilage, and obsolescence.

________ are off-price retailers that operate in huge facilities offering few frills but ultra-low prices and surprise deals on selected branded merchandise.

Retailers must decide on three major product variables: product assortment, services mix, and ________.

Which types of stores are characterized by specialty goods for which customers need assistance and higher operating costs that are passed along to customers as higher prices?

Which of the following statements is true of retailing?