Exam 15: Retailing

Who is the originator of a trade name,product,methods of operation,and so on that grants operating rights to another party to sell its product?

_____ are retailers that compete on the basis of low prices,high turnover,and high volume.

Chattanooga Bottling Company is licensed to bottle Coca-Cola.The Chattanooga Bottling Company is an example of a:

Which of the following statements about specialty stores is true?

Large retailers such as Target and Wal-Mart and sellers of shopping goods such as automobiles and furniture often use _____ for their locations.

Marketers can precisely target their customers according to demographics,geographics,and psychographics with:

Persuading customers to buy a higher-priced item than they originally intended to buy is referred to as:

Around the world,most retailers are _____,operating one or a few stores in their community,owned by a single person or partnership and not operated as part of a larger retail institution.

A retail operation that has a 90,000-square-foot facility,that houses a florist,baker,bank,craft shop,photo finisher,dry cleaner,and pharmacy under the same roof as grocery and household items is correctly called a:

The party in a franchise relationship that is an individual or business that is granted the right to sell another party's product is called the:

Arby's,Jiffy-Lube,Baskin-Robbins,and Sylvan Learning Centers are examples of _____ because the franchisee buys the right to use the franchisor's approach to doing business.

Diaz John Diaz immigrated to Tallahassee from Cuba in the 1980s. He set up a coffee shop called Diaz in a small upper-middle-class neighborhood. It rapidly became popular because of the wonderful coffee it brewed. Soon Diaz was selling the finest coffees from around the world, plus coffee-making necessities such as grinders and brewers. Within ten years, Diaz was operating a lucrative mail-order business in addition to his coffee shop. Upon entering the shop, the first thing the customer sees is a countertop crowded with all of the machinery needed for making a perfect cup of coffee. Marble-topped tables are set in cozy nooks with overstuffed chairs. Bookshelves on one wall hold books about coffee for patrons to read while they sip. The smell is intoxicating to a real coffee lover. Coffee drinkers can take home a pound when they leave. The store carries all types of coffee from $300 per pound Kopi Luwak from Sumatra to Brazilian Cerrado for $8 a pound. -Refer to Diaz.Customers of Diaz's coffee shop can purchase coffee,coffee makers,mugs,chocolate,music CDs,and all sorts of unique gift items. Diaz is practicing:

Apple Stores Apple Inc. opened its first Apple Store in 2001 and currently has hundreds of stores spanning several countries. Many of the Apple Stores are inside malls, but Apple also has several free standing stores they call their flagship stores, with each looking a little different on the outside. These are located in New York City, Boston, Los Angeles, Chicago, San Francisco, Montreal, Tokyo, and Osaka. The store in New York City is a glass cube with a glass cylindrical elevator and spiral staircase that leads to an underground store. Inside they have long tables displaying products ranging from the iMac, MacBook Air, iPods, printers, cameras, and other accessories. All these products are accessible to customers who can try them out and ask various questions of informed associates. The walls are mostly metallic and the signs are all backlit. All stores have a Genius Bar where a customer can receive technical advice or set up service and repair for their products. To address the needs of the many iPod users, some stores, such as the New York store, have set up a separate iPod Bar where customers can get their own technical assistance. They also have an iMac station for kids who want to try out games and learning products and a theatre for workshops, product training sessions and special presentations. Apple introduced the handheld Easy Pay system where customers don't have to wait in line to purchase products and with a simple click of a paperless, handheld credit card scanner, the employee brings the cash register to the customer. Items can be rung up anywhere on the show room floor. Apple plans to open several more stores in the years to come. Apple also has its online store. At its web site a customer can order any Mac or iPod product, plus a large variety of accessories. In addition to its product offerings, a customer can watch a demonstration of how products work or check out the latest Mac ads or news. -Refer to Apple Stores.Some shoppers purposely plan to visit the Apple store on Fifth Avenue in New York City,which is characteristic of:

Brands that are designed and developed using the retailer's name are called:

_____ carry a limited line of high-turnover,high-priced goods and resemble miniature supermarkets.These self-service stores are typically located near residential areas and are open long hours,seven days a week.

Off-price retailers differ from other discount stores in the merchandise they carry.While most other discounters offer a predictable assortment of merchandise,the styles and brands offered at off-price retailers change frequently because they buy only what is currently available at a good deal.

Define retailing and list the factors that are used to classify retail operations.

Each department in a department store is usually headed by a _____ who selects the merchandise mix for the department and may also choose the promotional devices and personnel for that department.

_____ is a low-profile,yet important,form of retailing in which consumers get products out of automated machines,and it accounts for $40 billion worth of sales each year in the United States.

_____ shows how much the retailer makes as a percentage of sales after the cost of goods sold is subtracted.