Chapter 11 retailing and wholesaling

Retailing involves sales primarily to which group of people?
Consumers
Which of he following best describes a retailer who buys at less-than -regular wholesale prices and sees at less than retail?
off-price retailer
Which of the following is not considered a retailer marketing decision?
Financing
The practice of charging higher prices on an every day basis while offering frequent promotions and sales is known as what?
High-Low pricing
retailers and wholesalers are similar in which of the following?
both focus on bringing value to customers
which of the following is a decision that is made by both retailers and wholesalers?
segmentation of target market
how can a smaller retailer compete with a megaretailer in the same market?
create unique offerings to gain proper positioning
which of the following dos not explain why megaretailers are becoming so successful?
more innovative advertising techniques
retailing
all the activities involved in selling good and services directly to final consumers for their personal nonbusiness use
retailer
a business whose sales come primarily from retailing
shopper marketing
using in-store promotions and advertising to extend bran equity to “the last mile” and encourage favorable point-of-purchase decisions
specialty store
a retail store that carries a narrow product line with a deep assortment within that line
department store
a retail store that carries a wide variety of product lines, each operated as a separate department managed by specialist buyers and merchandisers
supermarket
a large, low-cost, low-margin, high-volume,self-service store that carries a wide variety of grocery and household products
convenience store
a small store, located near a residential area, that is open long hours seven days a week and carries a limited line of high-turnover convenience goods.
superstore
a store much larger than a regular supermarket that offers a large assortment of routinely purchased food products, nonfood products, and services
category killer
a giant specialty store that carries a very deep assortment of a particular brand
service retailer
a retailer whose product line is actually a service, hotels airlines and banks
discount store
a retail operation that sells standard merchandise at lower prices by accepting lower margins and selling higher volume
off-price retailer
a retailer that buys at less-than-regular wholesale prices and sells at less than retail
independent off-price retailer
an off-price retailer that is either independently owned and ru or is a division of a larger retail corporation
factory outlet
an off-price retailing operation that is owned and operated by a manufacturer and normally carries the manufacturer’s surplus, discounted, or irregular goods.
warhouse club
an off-price retailer that sells a limited selection of bran name grocery items, appliances, clothing, and other goods at deep discounts to members who pay annual membership fees.
corporate chains
two or more outlets that are commonly owned and controlled
franchise
a contractual association between a manufacturer, wholesaler, or service organization and independently businesspeople who buy the right to own and operate one or more units in the franchise system
retailer marketing decisions
segmentation and targeting, store differentiation and positioning, and retail marketing mix
shopping center
a group of retail businesses built on a site that is applied, developed, ownerd, and managed as a unit
life style centers
smaller, open-air malls with upscale stores, convenient locations, and nonmetal activities
power centers
huge unenclosed shopping center consisting of a long strip of retail stores
showrooming
the shopping practice of coming into retail store showrooms to check out merchandise and prices but instead buying from an online-only rival, sometimes while in the store
wholesaling
all activités involved in selling good and services to those buying for resale or business use
wholesaler
a firm engaged primarily in whosalling activites
wholesaling functions
selling and promoting
wholesalers sales forces help manufacturers reach many small customers a a low cost
buying and assortments building
can select items and build assortments needed by custoemrs
bulk breaking
save their customers money by buying in carload lists and breaking bulk
warehousing
hold inventories, reducing inventory costs and risks of suppliers and customers
transportation
provide quicker delivery
finacing
finance their customers
risk bearing
absorb risk by taking title and breaking the cost of theft
market info
give info to suppliers and customers about competitors
management service and advice
help retailers train their salesclerks, improve store layouts, and displays
merchant wholesaler
an independently owner wholesaler business that takes title to the merchandise it handles
manufacturers and retailers branches and offices
wholesaling by sellers and buyers themselves rather than through independent wholesalers
wholesaler marketing deicison
segmentation and targeting, differentiation and positioning, marketing mix-product and service assortments, price, promotion, and distribution