Exam 13: Retailing and Wholesaling

________ accept last year's merchandise and seconds from manufacturers.

The wheel-of-retailing concept deals mainly with wholesalers rolling out reduced service levels.

At Holt Renfrew,a first-class department store,customers shop for specialty products and have come to expect assistance in every phase of the shopping process.Holt Renfrew is a ________.

These stores are often larger than regular supermarkets and offer a large assortment of routinely purchased food products,nonfood items,and services.They are the _____________.

McDonald's,Subway,and Pizza Hut are all examples of a ________.

The life cycle of new retail forms is getting longer.

How can wholesalers add customer value though the products and services they offer?

Explain how distribution is important to wholesalers.

__________ include(s)selling to final consumers through direct mail,catalogues,telephone,and the Internet.This has increased in recent years.

7-Eleven has recently begun to redesign and restock its stores to offer a more upscale environment and products,such as house wines and fresh foods.7-Eleven has changed its ________.

________ are often found in value-retail centres.These stores offer prices as low as 50 percent below retail on a wide range of mostly surplus,discounted,or irregular items.

Chain stores are located near residential areas and are open long hours,seven days a week; they carry a limited line of high-turnover goods.

Retailers first must position themselves in a market and then decide how they will define the target customers in these markets.

Department stores carry narrow product lines with deep assortments within those lines.

Companies with increased operating costs often charge higher prices.These ________,such as Sears,provide more sales assistance because they carry more shopping goods about which customers need information.

Most ________ retailers are significantly behind ________ retailers in global expansion.

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)________.

How can wholesalers improve their use of promotions?

Briefly explain the wheel-of-retailing concept.

Which wholesaler's channel function is demonstrated when a wholesaler reduces inventory holding costs and risks to suppliers and customers?