Exam 12: Retailing and Wholesaling

Which wholesaler channel function is demonstrated when a wholesaler's sales force helps a manufacturer reach many small customers at a low cost?

Which of the following conditions increases the chances of a retailer opting to be categorized as a self-service retailer?

Which wholesaler channel function helps reduce the inventory holding costs and risks of suppliers and customers?

Which contractual system is distinguished by the fact that it is normally based on some unique product or service?

In the 1970s, Shipshewana was only a small town with a hardware store, a grain mill, a shoe store, a small restaurant, and a grocery store. Over the next two decades, the small town transformed into an international tourist attraction, attracting thousands of tourists who are intrigued with the lifestyle of Shipshewana's largest population—the Amish. Ben and Mary Miller, having grown up within the Amish faith, decided to capitalize on their town's popularity and their woodworking skills. Their shop, Indiana Wood, began with a small display of handmade hickory rocking chairs, Ben Miller's specialty. But within a few months, the display at Indiana Wood included picnic tables, flower boxes, and small handmade novelty items. No other shop offers the same. Mary Miller decorated the shop's display room with authentic Amish décor and eventually hired three Amish friends to sew and embroider napkins and other textiles per customer request. In addition, two women from the Amish community sought permission from the Millers to display home-baked pastries and jellies on Tuesdays and Wednesdays, the town's busiest tourist days, when Shipshewana attracts swarms of visitors to its flea market on the south edge of town. "Shipshewana is full of specialty shops," Mary Miller stated. "People don't come here to buy things made in China or Taiwan. They want real, Amish-made goods." -Why do specialty stores flourish in Shipshewana?

Most retailers believe that ________.

Compare and contrast specialty stores and convenience stores.

Venns is a chain of department stores that has become more focused in recent years and now stocks only exclusive labels of designer home accessories. Venns has transformed itself into a chain of pop-up stores.

Off-price retailers can be found in all areas, from food, clothing, and electronics to no-frills banking and discount brokerages.

GameStop sells video games and systems, offering a narrow product line with a deep assortment within that line. GameStop is a(n)________.

What is most likely the first major marketing decision that a retailer must take?

Venture Zone, a hiking and climbing equipment retailer, has a rock climbing wall inside the store so that consumers can test products prior to purchase. Venture Zone most likely differentiates itself from its competitors through ________.

According to the text, today's large and progressive wholesalers have successfully reacted to rising costs by ________.

The suppliers who are not adding value based on cost and quality are more in demand than their competitors.

At Neiman Marcus, a first-class department store, customers shop for specialty products and have come to expect assistance in every phase of the shopping process. Neiman Marcus is a ________.

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

Customers at Carat, a premium jewellery store, are encouraged to make an appointment before a visit so that a customer service representative is assigned to them. These representatives help every customer make a purchase that meets his or her needs and budget after considering numerous options. The different styles and special features of the jewellery are explained to each customer to aid the purchase decision. In this case, Carat is an example of a(n)________.

Wholesalers add value to the supply chain.

Jones & Company, a major retail chain across the United States, offers a wide range of consumer goods such as clothing, furniture, home appliances, cosmetics, jewellery, and food. Jones & Company is best described as a ________.

________ are the largest group of wholesalers and can be divided into two broad types of wholesalers: full-service and limited-service.