Exam 13: Retailing and Wholesaling

Describe the differences between discount stores and off-price retailers.

Retail stores can be classified in terms of several characteristics.Name four of these.

Service retailers include which of the following?

The rise of huge mass merchandisers and specialty superstores,along with retail mergers and acquisitions,has created a core group of very large and very powerful ________.

Kiera Roselli,a general merchandise wholesaler,constantly looks for better ways to meet the needs of her suppliers and target customers.She knows that her business adds value by increasing the efficiency and effectiveness of the ________.

________ is the basis of all discount operations and is typically used by sellers of convenience goods.Retailers offering this level of service require customers to perform their own "locate-compare-select" process in order to save money.

Retail convergence means greater competition for retailers and greater difficulty in differentiating offerings.

To create the right atmosphere,some retailers control every aspect of the consumer's store experience,including what customers hear and smell.

Wholesaling includes all the activities involved in selling products or services directly to final consumers for their personal,nonbusiness use.

Which of the following types of retailers is most likely to practise everyday low pricing (EDLP)?

One retailer strategy is to offer merchandise that no other competitor carries.This is an example of how a retailer's ________ should differentiate the retailer while matching target shoppers' expectations.

How do the practices of "high-low" pricing and everyday low pricing differ?

Which wholesaler's channel function is demonstrated when a buyer receives quicker delivery because wholesalers are located closer than producers?

The ___________system is normally based on some unique product or service.

If customers like to be "waited on" and have much higher operating costs,these costs are often passed along to the customer.These types of stores are called ____________________.

These stores have been squeezed in recent years between more focused and flexible specialty stores on the one hand and more efficient,lower-priced discounters on the other.The _________ store carries a wide variety of product lines and differentiates itself through service.

Category killers carry a deep assortment of a particular product line and have a knowledgeable staff.

Why do stores cluster together?

If customers pay annual membership fees and are able to purchase goods at deep discounts and they are shopping in warehouse-like facilities that sell a limited selection of items and offer few frills,chances are they are shopping at ______________.

Limited-service retailers,such as specialty stores and first-class department stores,employ salespeople who assist customers in every phase of the shopping process.