Exam 13: Retailing

Small neighborhood florists,shoe stores,and ethnic food markets are most likely to be:

_____ is a low-profile,yet important,form of retailing in which consumers get products out of automated machines,and it accounts for $40 billion worth of sales each year in the United States.

_____ is defined as all activities directly related to the sale of goods and services to the ultimate consumer for personal,nonbusiness use or consumption.

Maggie Moo's has decided that consumers will drive out of their way for the store's yummy ice cream offerings.The owner needs to keep his overhead costs (such as rent)low and wants to avoid locating near competitors.For a location,Maggie Moo's should open in a:

Retail stores that are owned and operated as a group by a single organization are called _____.Under this form of ownership,administrative and purchasing tasks are handled by the home office.

Persuading customers to buy a higher-priced item than they originally intended to buy is referred to as:

Diaz John Diaz immigrated to Tallahassee from Cuba in the 1980s.He set up a coffee shop called Diaz in a small upper-middle-class neighborhood.It rapidly became popular because of the wonderful coffee it brewed.Soon Diaz was selling the finest coffees from around the world,plus coffee-making necessities such as grinders and brewers.Within ten years,Diaz was operating a lucrative mail-order business in addition to his coffee shop. Upon entering the shop,the first thing the customer sees is a countertop crowded with all of the machinery needed for making a perfect cup of coffee.Marble-topped tables are set in cozy nooks with overstuffed chairs.Bookshelves on one wall hold books about coffee for patrons to read while they sip.The smell is intoxicating to a real coffee lover.Coffee drinkers can take home a pound when they leave.The store carries all types of coffee from $300 per pound Kopi Luwak from Sumatra to Brazilian Cerrado for $8 a pound. -Refer to Diaz.The type of merchandise carried by Diaz is deep but with a narrow assortment.The store would most likely be classified as a:

Specialty discount stores are often called category killers because they dominate the competition in their narrow merchandise segment.

Around the world,most retailers are _____,operating one or a few stores in their community,owned by a single person or partnership and not operated as part of a larger retail institution.

Pick of the Litter has just purchased a sizable plot of land on which it will build a store building with a large parking lot.Across the street is a collection of specialty shops and a furniture store.Pick of the Litter will be part of a strip shopping center.

Apple Stores Apple Inc.opened its first Apple Store in 2001 and currently has hundreds of stores spanning several countries.Many of the Apple Stores are inside malls,but Apple also has several free standing stores they call their flagship stores,with each looking a little different on the outside.These are located in New York City,Boston,Los Angeles,Chicago,San Francisco,Montreal,Tokyo,and Osaka. The store in New York City is a glass cube with a glass cylindrical elevator and spiral staircase that leads to an underground store.Inside they have long tables displaying products ranging from the iMac,MacBook Air,iPods,printers,cameras,and other accessories.All these products are accessible to customers who can try them out and ask various questions of informed associates.The walls are mostly metallic and the signs are all backlit. All stores have a Genius Bar where a customer can receive technical advice or set up service and repair for their products.To address the needs of the many iPod users,some stores,such as the New York store,have set up a separate iPod Bar where customers can get their own technical assistance.They also have an iMac station for kids who want to try out games and learning products and a theatre for workshops,product training sessions and special presentations. Apple introduced the handheld Easy Pay system where customers don't have to wait in line to purchase products and with a simple click of a paperless,handheld credit card scanner,the employee brings the cash register to the customer.Items can be rung up anywhere on the show room floor.Apple plans to open several more stores in the years to come. Apple also has its online store.At its web site a customer can order any Mac or iPod product,plus a large variety of accessories.In addition to its product offerings,a customer can watch a demonstration of how products work or check out the latest Mac ads or news. -Refer to Apple Stores.The Genius Bar where customers can ask questions of knowledgeable personnel is an example of getting consumers involved in the retail experience,also known as _____.

One of the new developments in retailing is m-commerce.The m- in m-commerce stands for:

Retailers control the six Ps of the retailing mix.The six Ps include the marketing mix plus:

Supercenters are more than just larger versions of traditional "markets." In addition to foodstuffs,supercenters have pharmacies,dry cleaners,portrait studies,photo finishing,hair salons,and restaurants.

The six Ps of the retailing mix are product,place,price,promotion,personnel,and planning.

Retail establishments are generally classified according to all of the following EXCEPT:

When you walk into an Apple store you are immediately greeted by a clerk.The store is simply designed with layouts where you can experience every product from iMacs,iPhones,a variety of iPods,cameras,printers,and other accessories.If you have questions about the products you can visit the Genius Bar.There is a place where kids can play and experience Mac to by sitting on big round cushy chairs.This description is of the store's _____.

Well-known manufacturers such as Bose,Ralph Lauren,and Reebok have decided the most profitable way to dispose of out-of-season and irregular stock is to open stores and sell their own merchandise.These stores are types of:

Jennifer owns a greeting card store where she also sells women's purses,crocs for the whole family,jibbitz,cell phone skins,Sandy Lion stickers,Yankee candles,Godiva chocolates,Precious Memories figurines,beaded jewelry,and stuffed animals.Jennifer uses multibrand merchandising.

_____ is a type of shopping available to consumers with access to the Internet.