Exam 13: Retailing and Wholesaling

The lighting in Jake's Steak Restaurant is dim. The chairs are covered in leather and each table is covered with a white linen cloth. The colors are limited to earth tones with an occasional splash of red. Patrons cannot hear any kitchen noises, only a pleasant melody that seems familiar but unrecognizable. The smells are extraordinarily varied. This is a description of the restaurant's ________.

In recent years, convenience stores have redesigned their stores to closely focus on serving their primary target market made up of young, blue-collar men.

Daizy's is a shop that carries only plus-size clothing. According to this information, Daizy's differentiates itself from its competitors based on ________.

Retailers must work to ensure customers identify with their products. Differentiation and positioning are vital to communicating this message.

Explain how wholesalers have been able to use technology to cut costs.

Explain the marketing decisions faced by wholesalers.

The life cycle of new retail forms is getting longer.

Which of the following would be considered a service retailer?

________ and ________ do not take title to goods, and they perform only a few channel functions.

In an automated warehouse, orders are fed directly from the retailer's information system to the wholesaler's, and the items are picked up by mechanical devices and taken to a shipping platform where they are assembled.

A large retailer of home improvement and construction products offers "how-to" classes for do-it-yourselfers, featuring instructions on how to complete home improvement projects using products sold at its stores. This is an example of how the retailer has differentiated itself through its ________.

A small, open-air mall with upscale stores, convenient locations, and nonretail activities, such as a playground, skating rink, hotel, dining establishments, and a movie theater, is an example of a ________.

Off-price retailers pay regular wholesale prices for their merchandise but maintain low prices by accepting lower margins and selling higher volume.

Megaretailers have shifted the balance of power between retailers and producers, giving retailers more power.

How have shopping centers changed in the past few decades?

Overstock.com, a Web seller that buys furniture, clothing, electronics, and more from a variety of producers at less-than-regular wholesale prices and then charges customers less than retail, is a(n) ________.

Tony Pool Chemical Co. purchased 144 buckets of chlorine tablets over the Internet from Chemical Inc. Then Chemical Inc. placed the order with the manufacturer, and the manufacturer then transported the tablets directly to the Tony Pool store. In this case, Chemical Inc. is an example of a ________.

A ________ is a small store, located near a residential area that is open long hours seven days a week and carries a limited line of high-turnover goods.

Which of the following terms best describes a large, low-cost, low-margin, high-volume, self-service store that carries a wide variety of grocery and household products?

Supermarkets are located near residential areas and are open long hours, seven days a week. They carry a limited line of high-turnover goods.