Exam 13: Retailing and Wholesaling

What types of products do specialty stores carry? Give an example of a specialty store.

Which of the following has NOT contributed to the growth of online business?

The merging of consumers,products,prices,and retailers is called ________.

Mail-order,phone,and online shopping are all examples of ________.

What are some of the promotional tools often used by retailers?

Although _________ have been very successful in Europe and other world markets,they have met with little success in the United States,China,and Southeast Asia.

Category killers carry a deep assortment of a particular product line and have a knowledgeable staff.

Specialty stores carry ________ with ________ within them.

How do merchant wholesalers and agents/brokers differ?

Which type of store carries a deep assortment,has knowledgeable staff,and might actually be viewed as a giant specialty store?

How have department stores responded to increased competition by specialty stores?

Explain why the "place" decision is important to a retailer.

_____________ have increased rapidly during the past few years to challenge traditional indoor malls.

The wheel-of-retailing concept deals mainly with wholesalers rolling out reduced service levels.

Early ________ cut expenses by offering few services and operating in warehouse-like facilities in low-rent,heavily traveled districts.

Off-price retailers pay regular wholesale prices for their merchandise but maintain low prices by accepting lower margins and selling higher volume.

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." -Pinpu Wood is best classified as a(n)________ retailer.

A ________ is a group of retail businesses built on a site that is planned,developed,owned,and managed as a unit.

Savvy wholesalers realize that their only reason for existence comes from increasing the efficiency and effectiveness of the ________.

Which wholesaler's channel function is demonstrated when a wholesaler reduces inventory holding costs and risks to suppliers and customers?