Exam 2: Building and Sustaining Relationships in Retailing

The major difference between value and a value chain is that only ________.

The perishability of services prevents the shifting of services from low to high demand periods.

A retailer seeking to minimize bad debts should utilize what type of credit?

A customer is billed monthly on the basis of his/her outstanding cumulative balance in a(n)________.

The statement "in the supermarket,lettuce wilts; in a Broadway show,the curtain goes up" refers to which characteristic of services?

The concepts of intangibility,variability,and inseparability are most applicable to nongoods services.

Category management seeks to improve a retailer's inventory management system.

The value chain concept relates to a channel of distribution.

A retailer's focus on satisfaction of existing customers through seeking to form and maintain long-term bonds with customers is referred to as ________.

A retailer seeks to maximize the profitability of its inventory assortment through ________.

Electronic banking involves ________.

Describe the strategic implications of the characteristics of service retailing: intangibility,inseparability,perishability,and variability.

A unique strategy that no competing retailer in a given retail format has perfected constitutes a(n)________.

The service strategy process for services retailing is the same as for goods retailing.

Inseparability for a service provider affects which element of a retail strategy?

________ relates to the moral principles and values of a retailer.

An expected retail strategy involves a higher level of customer service than an augmented retail strategy.

Differentiate between the terms "value" and the "value chain."

All of the activities and processes that provide a certain value for the customer are referred to as ________.

Self-service merchandising makes the implementation of consumerism more difficult,especially with respect to the right of information.