Exam 13: Retailing and Wholesaling

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

Nita can visit her local supermarket and buy a dozen roses,a gallon of milk,two birthday cards,a bag of cat litter,and a pan for roasting a turkey.This best illustrates how a wholesaler has added value through the channel function of .

The distinction between large retailers and large wholesalers is changing because most large wholesalers are abandoning their retail operations.

A _ _ contains between 15 and 40 retail stores,including a department or variety store,a supermarket,specialty stores,professional offices,and sometimes a bank.

According to the _ _ concept,new retailing forms often begin as low- margin,low- price,low- status operations to challenge established retailers,then become successful,and eventually take the place of the established retailers they had challenged.

Refer to the scenario below to answer the following questions. In the 1970s,Shipshewana was only a small town with a hardware store,a grain mill,a shoe store,a small restaurant,and a grocery store.Over the next two decades,the small town transformed into an international tourist attraction,attracting thousands of tourists who are intrigued with the lifestyle of Shipshewana's largest population-the Amish. Ben and Mary Miller,having grown up within the Amish faith,decided to capitalize on their town's popularity and their woodworking skills.Their shop,Indiana Wood,began with a small display of handmade hickory rocking chairs,Ben Miller's specialty.But within a few months,the display at Indiana Wood included picnic tables,flower boxes,and small handmade novelty items.No other shop offers the same. Mary Miller decorated the shop's display room with authentic Amish décor and eventually hired three Amish friends to sew and embroider napkins and other textiles per customer request.In addition,two women from the Amish community sought permission from the Millers to display home- baked pastries and jellies on Tuesdays and Wednesdays,when Shipshewana attracts swarms of visitors to its flea market on the south edge of town. "Shipshewana is full of specialty shops," Mary Miller stated."People don't come here to buy things made in China or Taiwan.They want real,Amish- made goods." -Which of the following would be the most logical way for Indiana Wood to expand?

Describe how nonstore retailing has grown in the past decade.

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

such as Sears provide more sales assistance because they carry more shopping goods about which customers need information.Their increased operating costs result in higher prices.

The Home Depot entered the market as a store for professional and amateur plumbers,electricians,and carpenters.Then it introduced its garden centers.Next came its home design center that provides help with all kinds of interior decorating problems.Now it is enlarging its garden centers and hiring knowledgeable gardeners to staff these centers.The addition of more amenities and greater assortment can be best explained by which of the following?

Until retailers and _ their markets,they cannot make consistent decisions about product assortment,services,pricing,advertising,store décor,or any of the other decisions that must support their positions.

,or manufacturers' representatives,represent a buyer or seller on a more permanent basis.

Like retailers,a wholesaler must decide on segmentation and targeting,differentiation and positioning,and the marketing mix.

Explain the marketing decisions facing wholesalers.

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

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.

Today's trend in retail clusters is toward ,huge unenclosed shopping centers consisting of a long strip of retail stores,including at least one large,freestanding anchor store like Walmart.Each store has its own entrance with parking directly in front for shoppers who wish to visit only one store.

In recent years,convenience stores have redesigned their stores to closely focus on serving their primary target market made up of young,blue- collar men.

What attracts shoppers to a power center?

Which of the following has NOT contributed to the growth of online business?