Exam 13: Retailing and Wholesaling

Corporate chains are two or more outlets that are commonly owned and controlled.

The three types of shopping centers are regional shopping centers, community shopping centers, and neighborhood shopping centers/strip malls. Describe how they are different from each other.

________ is a type of service offered by those retailers who serve customers that are willing to perform their own "locate-compare-select" process in order to save money.

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.

Power centers tend to be smaller than lifestyle centers.

________ are wholesalers who serve grocery and drug retailers, mostly in nonfood items. They price the goods, keep them fresh, set up point-of-purchase displays, and keep inventory records.

Refer to the scenario below to answer the following questions. In the 1970s, Shipshewana was only a small town with a hardware store, a grain mill, a shoe store, a small restaurant, and a grocery store. Over the next two decades, the small town transformed into an international tourist attraction, attracting thousands of tourists who were intrigued by the lifestyle of Shipshewana's largest population-the Amish. Ben and Mary Miller, having grown up within the Amish faith, decided to capitalize on their town's popularity and their woodworking skills. Their shop, Indiana Wood, began with a small display of handmade hickory rocking chairs, Ben Miller's specialty. But within a few months, the display at Indiana Wood included picnic tables, flower boxes, and small handmade novelty items. No other shop offers the same. Mary Miller decorated the shop's display room with authentic Amish décor and eventually hired three Amish friends to sew and embroider napkins and other textiles as per customer requests. In addition, two women from the Amish community sought permission from the Millers to display home-baked pastries and jellies on Tuesdays and Wednesdays, when Shipshewana attracts swarms of visitors to its flea market on the south edge of town. The Millers also hired four more people to help customers throughout the purchasing process and to provide the required product related information to the customers. "Shipshewana is full of specialty shops," Mary Miller stated. "People don't come here to buy things made in China or Taiwan. They want real, Amish-made goods." -The authentic Amish décor of Indiana Wood's contributes to the store's ________.

Which of the following wholesaler's channel functions is demonstrated when a wholesaler's sales force helps a manufacturer to reach many small customers at a low cost?

Briefly explain the wheel-of-retailing concept.

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

Independent Grocers Alliance, Do-It Best, Western Auto, and True Value are examples of ________.

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 ________.

Describe the differences between chain stores and franchises.

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 ________.

Touch-screen kiosks, handheld shopping assistants, interactive dressing-room mirrors and virtual sales associates are all examples of how retailers use technology to ________.

Describe how nonstore retailing has grown in the past decade.

________ sell standard merchandise at lower prices by accepting lower margins and selling higher volume.

What elements comprise a store's atmosphere?

A small, open-air mall with upscale stores, convenient locations, and nonretail activities, such as a playground, skating rink, hotel, dining establishments, and a movie theater, is an example of a(n) ________.

A(n) ________ does not take title to goods and represents buyers or sellers on a more permanent basis than a broker.