Exam 16: Retailing and Wholesaling

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.Recently,however,sales have been a bit slow.Jane decides to reduce the price for the frames to $80.What is her maintained markup in dollar terms?

Level of service is used to describe the degree of service provided to the customer.Three levels of service are provided by self-,__________-,and full-service retailers.

Many supermarkets have in-store restaurants where a customer can buy prepared meals to take home or eat there.Supermarkets and restaurants that provide these same kinds of meals are engaged in __________ competition.

One of the most common forms of retail ownership is the __________ owned by a person.

A franchise where the franchisor provides step-by-step procedures for most aspects of the business is known as a

The 5.4 million vending machines currently operating in the United States generate more than __________ in annual sales.

The term truck jobbers refers to wholesalers who

There are three general forms of retail ownership: independent retailer,corporate chain,and __________.

Retail outlets,like products,experience the process of growth and decline,which is referred to as the

When developing retailing strategies,marketers use what is called the retailing mix,which includes

A retail location that typically has one primary store (usually a department store branch)with 20 to 40 smaller outlets serving a population of consumers who are within a 10- to 20-minute drive is referred to as a(n)__________.

The description of how new forms of retail outlets enter the market is referred to as the __________.

The Sports Authority is a sporting goods superstore that provides year-round inventory of equipment for just about any sport you can name.Even during the "off season," equipment for seasonal sports is available at the Sports Authority.Which utility does the Sports Authority best provide?

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 __________.

Consumers benefit in dealing with retail corporate chains because

Briefly describe the advantages to the retailer and to the customer of the independent retailer.

Name each of the four utilities offered by retailing and with each,identify a retailer that provides that utility.

Consider Figure 16-A above.This image MOST LIKELY represents the __________,which shows that very dissimilar types of retail outlets can compete with each other as a result of a scrambled merchandising policy.

Vending machines are an example of __________.

According to the UMD16B: Same-Store Sales Growth Marketing Dashboard above,which retailer has the GREATEST same-store sales growth?