SEARCH
You are in browse mode. You must login to use MEMORY

   Log in to start

level: Chapter 11: Retailing and Wholesaling

Questions and Answers List

level questions: Chapter 11: Retailing and Wholesaling

QuestionAnswer
What is Retailing?All the activities involved in selling goods and services directly to final consumers.
What is a Retailer?Business whose sales come primarily from retailing.
What is Omni-Channel Retailing?Creating a seamless cross-channel buying experience. Combining mobile, online, and store shopping.
How can Retailers be classified?In the amount of service, product line, relative prices and how they are organized.
What are 3 Levels of Services?Self service, limited service, and full-service.
What is a Specialty Store and give an example.A retail store that carries a narrow product line with a deep assortment such as Nike stores.
Wat is a Department Store and give an example.A retail store that carries a wide variety of product lines such as Hema.
What is a Superstore and give an example.A store much larger than a regular supermarket such as Walmart supercenter.
What is a Service Retailer?A retailer whose product line is a service such as a hotel or bank.
What is an Off-price Retailer?A retailer that buys at less-than-regular wholesale prices and sells at less than retail.
What are the 3 main types of off-price retailers?Independent off-price retailers, factory outlets, and warehouse clubs.
What are the 4 Types of organzational approaches of retailers?Corporate chain, voluntary chain, retailer cooperative, and franchise organizations.
What are 2 Retailing Trends and Developments?Rise of megaretailers and green retailing.
How can retailers differentiate themselves from online sellers?By product assortment, service mix, and store atmosphere.
Retailers use various combinations of the 5 promotion tools - what are these 5 tools?Advertising, personal selling, sales promotion, public relations, direct and digital marketing.
What is Wholesaling?All the activities involved in selling goods and services to those buying for resale or business use.
What are the Channel Functions Performed by Wholesalers? Mention 61. Selling and promoting 2. Buying and assortment building 3. Bulk breaking 4. Warehousing 5. Transportation 6. Financing
What are the 3 Major groups of Wholesalers?Merchant wholesalers, brokers and agents, and manufacturer's and retailers' branches and offices.
What is a Merchant wholesaler?An independently owned wholesale business that takes title to the merchandise it handles.
What is a Broker?A wholesaler whose function is to bring buyers and sellers together and assist in negotiations.
What are 2 Types of Merchant Wholesalers?Full-service and limited-service wholesalers.