Exam 12: Retailers Wholesalers and Direct Marketers

By definition, specialty stores carry only specialty products.

What are the physical characteristics and amenities of a retail store called that attract customers and satisfy their shopping needs?

An objective of customer-service strategy is to identify the cost of services and adjust prices to cover them.

Retail convergence defines a situation in which similar products are found at dissimilar retailers and distinguished by price more than any other factor.

Who is the agent that predominates in agricultural marketing?

What is the basic distinction between a company's sales branches and its sales offices?

Limited-line stores are typically found in areas with small populations because they handle products that are highly demanded in those localities.

The difference between a sales office and sales branch is determined by the number of sales personnel assigned to the location and the size of the geography covered by each.

What are retailers developing when they consider factors such as general product categories, specific product lines, specific products within lines, and the depth and width of its assortments?

When an intermediary represents a number of producers, the number of transactions might decrease, but the cost of buying and selling remains constant.

Customers that cannot afford to pay cash for purchases made directly from the manufacturer are granted credit from a wholesale intermediary to purchase those same products from its warehouse.What marketing function is the wholesaler performing?

Sales branches carry inventories and process orders.

Which of the following retailers follows scrambled merchandising to the greatest degree?

Self-service retailers specialize in high-quality items that require customers to perform personal evaluation and take time to think through their purchase.

Some large-scale retailers have assumed traditional wholesaling functions, resulting in a shift of power away from the wholesalers and increasing the likelihood of retailers assuming channel captaincy.

To improve profitability, many department stores have increased the amount of space devoted to product categories like appliances, furniture, and toys.

The Running Room carries footwear and athletic gear aimed at the runner or outdoor enthusiast.What is this retail store classified as?

Wholesaling intermediaries create utility in the form of time, place, ownership, and, in certain cases, possession.

What type of store is identified by having a wide variety of services, such as charge accounts, delivery, gift wrapping, and generous return policies?

How do retailers identify target markets? Explain the major strategies by which retailers reach their target markets.