Exam 13: Retailing and Wholesaling

A discount store buys at less-than-regular wholesale prices and charges consumers less than retail.

Describe the levels of service that retailers can offer. Provide an example of each type of retailer.

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

How does a retailer cooperative function?

________ are a type of limited-service wholesaler who does not carry inventory or handle a product. They typically operate in bulk industries, such as coal, lumber, and heavy equipment.

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 ________.

Which type of store carries a deep assortment of a particular product line, has knowledgeable staff, and can be viewed as a giant specialty store?

The life cycle of new retail forms is getting longer.

What is the most common type of agent wholesaler?

Today's retailers increasingly adopt environmentally sustainable practices. Which of the following is NOT one of these practices?

Which term refers to looking at merchandise at a traditional store and then purchasing the merchandise online?

________ are huge unenclosed shopping centers consisting of a long strip of retail stores, including at least one large, freestanding anchor store like Walmart. Each store has its own entrance with parking directly in front for shoppers who wish to visit only one store.

Refer to the scenario below to answer the following question(s). 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 variety. 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 customers had requested such items. 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." -A community shopping center contains between 15 and 50 retail stores.

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

Which of the following terms best describes a large, low-cost, low-margin, high-volume, self-service store that carries a wide variety of grocery and household products?

GameStop sells only video games and systems, offering a narrow product line with a deep assortment within that line. GameStop is a(n) ________.

Describe how nonstore retailing has grown in the past decade.

________ are agents who take physical possession of products and negotiate sales. They deal mostly with agricultural marketing.

Stop-N-Go , 7-Eleven, and Circle K are examples of ________.

Most shopping centers are ________.