Exam 15: Retailing

The first shopping centers were:

The first task of developing a retail strategy is to:

Compare and contrast trading up and suggestive selling.

_____ is the retailing strategy of using moderate to low prices on large quantities of products and lower service to stimulate a high turnover of inventory.

Fairway is a chain of retail outlets in Iowa,Minnesota,Nebraska,and Illinois that are described as large,departmentalized,self-service stores that specialize in food and limited nonfood items.Fairway stores are:

Stores such as Whole Foods are using Twitter and Facebook to keep customers updated on recently added items,shipments of goods that come in,and changing product details.Because social media is accessible to most consumers via _____ it has become a rapidly growing aspect to the e-retail buying experience.

Interactivity is one of the new developments in retailing.In retailing,interactivity refers to:

Telemarketing can consist of either unsolicited _____ sales calls,or _____ sales calls,which allow companies to receive orders through toll-free telephone numbers.

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

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.

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

As a general rule of thumb,a retailer that has a high gross margin will have:

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.

Retailing can be defined as all the activities directly related to the sale of goods and services to the ultimate consumer for personal,nonbusiness use.

_____ refers to the techniques used to get consumers to buy from their home.Those techniques include direct mail,catalogs and mail-order,telemarketing,and electronic retailing.

The newest generation of shopping centers is the:

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

_____ are large,departmentalized,self-service retailers that specialize in food and some nonfood items.

Retailers such as Dillard's and Sears are responding to consumer needs by changing product mixes,hours of operation,locations,and prices.These stores are changing aspects of their:

Whenever a customer opens an account at First Southern National Bank,a teller or account representative asks the customer whether he or she needs a CD,online banking,or other services.In other words,the account representative engages in: