Exam 13: Retailing and Wholesaling

Describe the levels of service that retailers can offer. Provide an example of each type of retailer.

________ includes all activities involved in selling goods and services to those buying for resale or business use.

________ are facing slow sales growth because of slower population growth, increased competition, and the rapid growth of out-of-home eating.

Wholesalers realize that they increase value to their customers by watching for better ways to meet the needs of their suppliers and target customers. This involves reducing the services they provide to retailers.

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

________ are two or more outlets that are commonly owned and controlled.

________ are the largest group of wholesalers. They include two broad types: full-service wholesalers and limited-service wholesalers.

Upon determining who will want the product, retailers must determine in more detail how to ________ in those markets.

Which type of store carries a wide variety of product lines and has been squeezed in recent years between more focused and flexible specialty stores on the one hand and more efficient, lower-priced discounters on the other?

________ are huge unenclosed shopping centers consisting of a long strip of retail stores, including at least one large, freestanding anchor store like Walmart. Each store has its own entrance with parking directly in front for shoppers who wish to visit only one store.

A(n) ________ brings buyers and sellers together and assists in negotiations.

Which of the following best describes a similarity between Costco and Walmart?

Which type of store carries a deep assortment of a particular product line, has knowledgeable staff, and can be viewed as a giant specialty store?

Superstores are much larger than regular supermarkets and offer a large assortment of routinely purchased food products, nonfood items, and services.

A strip mall contains between 5 and 15 retail stores.

What attracts shoppers to a power center?

Which of the following is NOT one of a wholesaler's channel functions?

Refer to the scenario below to answer the following question(s). 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 were intrigued by 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 variety. 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 as customers had requested such items. In addition, two women from the Amish community sought permission from the Millers to display home-baked pastries and jellies on Tuesdays and Wednesdays, when Shipshewana attracts swarms of visitors to its flea market on the south edge of town. The Millers also hired four more people to help customers throughout the purchasing process and to provide the required product-related information to the customers. "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." -The authentic Amish décor of Indiana Wood's contributes to the store's ________.

________ are manufacturer-owned and operated stores that offer prices as low as 50 percent below retail on a wide range of mostly surplus, discounted, or irregular items.

________ were the main form of retail clusters until the 1950s.