Exam 1: An Introduction to Retailing

The first stage in development of a retail strategy should be to ________.

Which of the following is not an important characteristic of relationship retailing?

According to the Department of Commerce,annual U.S.retail store sales are about ________.

Through the retail concept,the retailer bridges the gap between the needs of manufacturers and customers.

While close cooperation between manufacturers and retailers is fostered in intensive distribution,this form of distribution generally does not allow a manufacturer to achieve maximum sales for a product.

Relationship retailing focuses on the need for continuous attraction of new customers.

In which form of distribution do retailers typically agree to limit their assortment of brands in a selected product category?

Describe how Home Depot applies the retailing concept.

The largest company in the world based on sales is ________.

The selection of an appropriate target market by a retailer relates to which element of the retailing concept?

Retailers typically study prospective locations in terms of the characteristics of shoppers,neighboring retailers,pedestrian traffic counts by day of week and hour,and parking facilities.This intensive analysis is due to the ________.

The underlying principle of a strategic approach to the study of retailing is that a firm needs to ________.

Evaluate the implications of the sorting process from the perspectives of the manufacturer,the retailer,and the consumer.

Competition among retailers selling the same goods and services is highest in which form of distribution?

A manufacturer seeking maximum retailer cooperation should utilize which form of distribution?

Without the sorting process,final customers would ________.

Which of the following activities does not fit within the scope of retailing?

A retailer often must limit its selection of brands in ________ distribution.

All of the elements in a retail offering that encourage or inhibit consumers during their contact with a given retailer comprises ________.

Distinguish among institutional,functional,and strategic approaches to the study of retailing.