Exam 16: Managing Retailing, Wholesaling, and Logistics

The two models of the traditional department store's responses to competition is to develop a store with strong retail brand approaches and the "showcase" store.

Retailing includes all the activities involved in selling goods or services directly to final consumers for personal,nonbusiness use.

A stock reorder point of 10 means reordering the product ________.

Paco Underhill,managing director of the retail consultancy Envirosell Inc.,offers several tips for fine-tuning retail space in order to keep shoppers spending.List three of them.

The trucking firm hired by your transportation manager provides service between the Northeast and the Southeast on a regular schedule.Hiring this shipper is available to all at standard rates.Your transportation manager has hired a _____________.

________ measures a product's handling costs from the time the product reaches the warehouse until a customer buys it in the retail store.

The order-to-payment cycle is the elapsed time between an order's receipt,delivery,and payment by the customer.

Your division has a new general manager.As part of his stated tasks,he believes in "getting the right goods to the right places at the right time for the least cost." As your company's logistics manager,you know that this objective provides little practical guidance and could in fact be detrimental to the company objectives.How would you formulate a response to the new general manager to convince him to change his "position" regarding customer service

Franchising accounts for more than $1 trillion of annual U.S.sales and nearly one-third of all retail transactions.Franchises are distinguished by three characteristics,which are: (1)The franchisee pays for the right to be part of the system: (2)the franchisor provides its franchisees with a system for doing business; and (3)________.

Wholesaler-distributors have not faced the pressures in recent years from new sources of competition,demanding customers,new technologies,or more direct-buying programs.

After deciding on the product-assortment strategy,the retailer must establish merchandise sources,________,and practices.

Natural advantages of brick-and-mortar over e-commerce retailers include ________.

Market logistics involves planning the infrastructure to meet demand,then implementing and controlling the physical flows of materials and final goods from points of origin to points of use,to meet customer requirements at a profit.

Because of the high cost of retail space,most retailers are highly attuned to which of the products they stock generate profit.

Why must retailers begin by defining their target market before making any other marketing decisions

You have ideas of owning a Subway after graduation.In owning a Subway location,you are entering a ________ agreement.

How has the growth of giant retailers threatened traditional retailers

________ are unbranded,plainly packaged,less expensive versions of common products such as spaghetti,paper towels,and canned peaches.

Besides the growing power of store brands,other factors weakening national brands include the fact that ________.

Identify the three characteristics that distinguish franchises from other forms of corporate retailing.