Chat with AIExam 11: Retailing and Wholesaling
Touch-screen kiosks,customer-loyalty cards,handheld shopping assistants,and self-scanning checkout systems are all examples of how retailers use technology to ________.
(36) 
VerifiedE
How are retailers classified based on the amount of service? Give examples.
(35) VerifiedDifferent types of customers and products require different amounts of service.To meet these varying service needs,retailers may offer one of three service levels:self-service,limited service,and full service.
Self-service retailers serve customers who are willing to perform their own locate-compare-select process to save time or money.Self-service is the basis of all discount operations and is typically used by retailers selling convenience goods (such as supermarkets)and nationally branded,fast-moving shopping goods (such as Target or Kohl's).Limited-service retailers,such as Sears or JCPenney,provide more sales assistance because they carry more shopping goods about which customers need information.Their increased operating costs result in higher prices.Full-service retailers,such as high-end specialty stores (for example,Tiffany or Williams-Sonoma)and first-class department stores (such as Nordstrom or Neiman Marcus)assist customers in every phase of the shopping process.Full-service stores usually carry more specialty goods for which customers need or want assistance or advice.They provide more services,which results in much higher operating costs.These higher costs are passed along to customers as higher prices.
Three types of shopping centers are regional shopping centers,community shopping centers,and neighborhood shopping centers/strip malls.Describe how they are different from each other.
(39) VerifiedRegional shopping centers are the largest and most dramatic shopping centers.They contain from 50 to more than 100 stores.They are like covered mini-downtowns and attract customers from a wide area.Smaller than regional shopping centers,community shopping centers contain between 15 and 50 stores.They normally contain a branch of a department store or variety store,a supermarket,specialty stores,professional offices,and sometimes a bank.Smaller still are neighborhood shopping centers/strip malls,which generally contain 5 to 15 stores.They are close and convenient for consumers,usually containing a supermarket,a discount store,and several service stores.
Which of the following types of wholesalers would fall under the category of full-service wholesalers?
(34) Wholesalers absorb risk by taking title and bearing the cost of theft,damage,spoilage,and obsolescence.
(37) "All Needs" is a convenience store that has recently begun to redesign and restock its stores to offer a more upscale environment and products,such as house wines,special types of cheese and fresh foods."All Needs" has changed product mix and positioning to become a ________.
(42) Describe the differences between discount stores and off-price retailers.
(33) Off-price retailers buy at less-than-regular wholesale prices and charge consumers less than retail.
(37) Dina loves branded apparel and accessories but cannot afford to buy them too often.Fortunately,Dina lives close to an off-price retailing outlet that has dozens of stores that offer prices as much as 50 percent below retail on a wide range of mostly surplus,discounted,or irregular goods.This outlet is an example of a ________.
(39) GameStop sells video games and systems,offering a narrow product line with a deep assortment within that line.GameStop is a(n)________.
(33) Which of the following types of stores carries a deep assortment of goods in each category,has knowledgeable staff,and is often viewed as a very large specialty store?
(32) ________ includes all activities involved in selling goods and services to those buying for resale or business use.
(34) A ________ brings buyers and sellers together and assists in negotiations.
(41) ________ have filled the ultralow-price,high-volume gap by buying at less than regular wholesale prices and charging consumers less than retail.
(37) Which of the following statements reflects the wheel-of-retailing concept?
(30) Shopper marketing involves focusing the entire marketing process-from product and brand development to logistics,promotion,and merchandising-toward turning shoppers into buyers at the point of sale.
(35) Brokers and agents typically work across multiple and often unrelated product lines as their job does not require technical knowledge of the product or service they are dealing with.
(24) Toby's chain of department stores carries a wide range of product lines,including clothing,jewelry,kitchenware,and home furnishings.The stores typically charge a relatively high markup,but also hold frequent sales and price promotions,in particular,offering discounts to customers who use Toby's frequent user card.Toby's uses ________ here.
(34) An off-price retailing operation that is owned and operated by a manufacturer and normally carries the manufacturer's surplus,discontinued,or irregular goods is called a ________.
(33) 
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