Exam 15: Retailers, wholesalers, and Direct Marketers

Other things being equal,stores that offer more services charge smaller markups to cover their costs.

Markups are determined partly on the basis of marketers' judgments of the amounts that consumers will pay for a product.

In order for a new business to be competitive in the market,it must often offer lower prices than its more established rivals.The business may cut services or offer fewer services so that it can offer these reduced prices while maintaining a profit margin.As the business becomes more established and its older rivals are put out of business,it can begin to offer more services and raise its prices. Which of the following concepts does the paragraph best illustrate?​

A selling agent is an ideal marketing channel for weakly financed,production-oriented firms.

Internet-based retailers usually maintain little or no inventory and order directly from vendors to fill customer orders received via their websites.

A mail-order wholesaler is a limited-function merchant wholesaler that:

In the business-goods market,full-function merchant wholesalers are also known as _____.

A _____ is a full-function merchant wholesaler that markets specialized lines of merchandise to retail stores.

Dollar General is one of the fastest growing retail store chains in the United States and typically establishes store locations in under-served or rural towns.In the early days,the stores were small with limited product lines but as Dollar General has seen its revenues grow,it's built new stores,added product lines,and has become a major grocery and household item competitor.What concept explains the patterns of change over time for the Dollar General company?​

Which type of non-store retailing both allows products to be easily demonstrated and allows time for prospective customers to become well informed about the product?​

The situation in retailing in which similar merchandise is available from multiple retail outlets distinguished by price more than any other factor is known as:

The strategy of convincing a customer to buy a higher-priced item than he or she had originally intended is called:

​Developing a customer service strategy for your sporting goods store,you know that services can add value to the shopping experience.Your business partner agrees,but makes a comment that shows he doesn't really understand this type of strategy.Identify his comment.

Match each item with the correct statement below. -A(n)_____ is a full-function merchant wholesaler that markets specialized lines of merchandise to retail stores.

Typically,bread and dairy products are delivered to stores by wholesale intermediaries called:

A trade fair is a periodic show at which manufacturers in a particular industry display their wares for visiting retail and wholesale buyers.

Direct-response retailing that runs promotions on cable TV networks to sell merchandise through telephone orders is called:

Reminding a customer that the flashlight he just purchased requires batteries (which are available for sale)would be an example of:

How do retailers develop a marketing strategy?

When wholesalers transport and stock products in inventory,they accept the possibility of spoilage,theft,or obsolescence.This function performed by the wholesaling intermediary is referred to as _____.