Exam 13: Retailing and Wholesaling

Which of the following takes title to goods?

In retailing there are three levels of service.They are self-service,limited service,and ________.

You own a neighborhood grocery store and would like to have non-food items delivered,priced,displayed and inventoried by a wholesaler.You do not want to purchase title to the goods.Which type of wholesaler best fits your needs?

To create the right atmosphere,some retailers control every aspect of the consumer's store experience,including what customers hear and smell.

How can discount stores sell merchandise at lower prices?

McDonald's and Subway are both examples of a ________.

What is a power center?

Describe the differences between chain stores and franchises.

Touch-screen kiosks,customer-loyalty cards,handheld shopping assistants,and self-scanning checkout systems are all examples of how retailers use technology to ________.

In a retailer cooperative,independent retailers contract with each other to set up a central buying operation and conduct joint promotional efforts.

A ________ contains from 40 to 200 stores,is like a covered mini-downtown,and attracts customers from a wide area.

A retailer may fail because it tries to provide "something for everyone" and ends up satisfying no market well.Successful retailers ________ their target markets well and position themselves strongly.

Retail convergence means greater competition for retailers and greater difficulty in differentiating offerings.

What constitutes retail convergence?

Why would a producer use wholesalers rather than selling directly to retailers or consumers?

Refer to the scenario below to answer the following questions. In the 1990s, Millie was only a small town in Northeastern Taiwan with a Woodcraft Museum, a shoe store, a small restaurant, a grocery store and several woodcraft stores. Over the next three decades, the small town transformed into an international tourist attraction, attracting thousands of tourists who are intrigued with the lifestyle of Millie's largest population, the Pinpu. Ben and Mary Chen, having grown up within the locality of Millie, decided to capitalize on their town's popularity and their woodworking skills. Their shop, Pinpu Wood, began with a small display of handmade rocking chairs, Ben Chen's specialty. But within a few months, the display at Pinpu Wood included picnic tables, flower boxes, wooden statues and small handmade novelty items. No other shop offers the same. Mary Chen decorated the shop's display room with authentic Pinpu décor and eventually hired three Pinpu friends to sew and embroider napkins and other textiles per customer request. In addition, two women from the Pinpu community sought permission to display home-baked pastries and dumplings on Saturdays and Sundays, the town's busiest tourist days, when Millie attracted swarms of visitors to its flea market on the south edge of town. "Millie is full of specialty shops," Mary Chen stated. "People don't come here to buy things made in France or the United States. They want real, Pinpu-made goods." -Which of the following would be the most logical way for Pinpu Wood to expand?

A(n)________ brings buyers and sellers together and assists in negotiations.

Some retailers invite customers to ask questions or consult service representatives in person or via phone or keyboard.This is an example of a ________.

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

Briefly explain the wheel-of-retailing concept.