Exam 13: Retailing and Wholesaling

Which of the following best describes a similarity between Costco and Walmart?

In recent years, convenience stores have redesigned their stores to closely focus on serving their primary target market made up of young, blue-collar men.

Independent off-price retailers either are independently owned and run or are divisions of larger retail corporations.

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 ________.

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

Today, ________ are flourishing due to the increased use of market segmentation and market targeting.

Which of the following wholesaler's channel functions is exemplified by buying in carload lots and then dividing these lots into small quantities?

What are pop-up stores? Provide an example to illustrate your answer.

Press conferences, speeches, store openings, special events, newsletters, and store magazines are examples of ________ activities used by retailers to promote themselves.

Compare and contrast specialty stores and convenience stores.

Describe the differences between chain stores and franchises.

________ are manufacturer-owned and operated stores that offer prices as low as 50 percent below retail on a wide range of mostly surplus, discounted, or irregular items.

Power centers tend to be smaller than lifestyle centers.

________ have filled the ultra low-price, high-volume gap by buying at less-than-regular wholesale prices and charging consumers less than retail.

Which type of wholesaler sells to manufacturers rather than to retailers?

Self-service retailers serve customers who are willing to perform their own locate-compare-select process to save time or money.

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 neighborhood shopping center has from 50 to more than 100 stores.

A ________ is a wholesaler-sponsored group of independent retailers that engages in group buying and common merchandising.

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

Which of the following is NOT a type of off-price retailer?