Exam 16: Retailing and Wholesaling

Your local Hallmark retailer carries thousands of greeting cards. You can find cards for a "twins" birthday, from my cat to yours, and many other unique occasions. This is an example of the __________ that the Hallmark retailer carries.

Many retailers advocate __________ strategy, a pricing strategy that may not offer the lowest prices but does try to create value for customers through its service and the total buying experience.

Retailers that advocate an everyday fair pricing strategy may not offer the lowest prices, but they try to create value for customers. What decision factor becomes important in this situation?

A wholly owned extension of the producer that does not carry inventory, typically performs only a sales function, and is an alternative to agents and brokers is referred to as a

Online retail purchases by consumers can be the result of several very different approaches, including (1) paying dues to become a member of an online discount service, (2) using a shopping "bot" to search for a product at locations with the best price, (3) going directly to online malls, and (4) __________.

A manufacturer's sales office

A limited-service wholesaler that furnishes shelves that display merchandise in stores, performs all channel functions, and sells on consignment to retailers is referred to as a

Which form of retailing is Best Buy now using in airports to distribute its mobile phone and computer accessories, digital cameras, flash drives, and other consumer electronics?

The calculation for same-store sales growth is

When developing marketing strategies, marketing managers use the elements of the marketing mix, which includes product, price, place, and promotion. In a similar fashion, when developing retailing strategies, marketers use what is called the retailing mix, which includes

Some retailers now allow consumers to respond to their text messages announcing a sale for a specified time period. Consumers must then visit the site to purchase the sale items. Which of the following retailing websites offer these limited time "flash sales"?

Nordstrom stores typically have 50 percent more salespeople on the floor than other retailers with stores of similar sizes. Its salespeople are renowned for their professional and personalized attention to customers. Nordstrom would be considered

By selling franchises, an organization __________ the cost of expansion and __________ its control compared to owning its own retail outlets.

The revolutionary new __________ resembles a pair of eyeglasses with a small display screen visible to the wearer. Image and voice recognition capabilities allow retail clerks to check manuals for technical information, verify stock inventories, place orders, or even check out customers from anywhere in the store.

Which type of outlet is most likely in its decline stage of the retail life cycle?

Off-price stores that attract customers who want value and appeal to customers who like a "corner store" environment rather than a large supercenter experience are referred to as

The selling of brand name merchandise at lower than regular prices is referred to as

Jane Westerlund owns a small retail picture frame store in a local strip mall. She just bought 10 picture frames from a promising woodworker for $36 each. Based on market conditions, she will sell these for $100 each. What is her markup in dollar terms?

A grocery manufacturer that is seeking an agent that would act on its behalf on a permanent basis and receive a commission should use a

Mike's Camera is a retailer that carries a full line of professional and amateur cameras, develops and/or prints all types of film and digital photos, and even sells darkroom equipment. Mike's Camera is an example of