Mktg-300 Chapter 13

Front 1

All of the activities directly related to the sale of goods and services to the ultimate consumer for personal, non-business use:

Back 1

Retailing

Front 2

Form of franchising in which a dealer agrees to sell products provided by a manufacturer or wholesaler:

Back 2

Product and Trade Name Franchising

Front 3

Speciality discount stores that heavily dominate their narrow merchandise segment:

Back 3

Category Killers

Front 4

What are the 3 types of direct retailing?

Back 4

1) Home sales parties
2) Office-to-office
3) Door-to-door

Front 5

The amount of money the retailer makes as a percentage of sales after the cost of goods sold is subtracted:

Back 5

Gross Margin

Front 6

Retail store combining groceries and general merchandise goods with a wide range of services:

Back 6

Supercenter

Front 7

The mix of products offered to the consumer by the retailer; also called the product assortment or merchandise mix:

Back 7

Product Offering

Front 8

What are the 4 types of direct marketing?

Back 8

1) Direct mail
2) Electronic retailing
3) Catalogs & mail order
4) Telemarketing

Front 9

Retailing strategy using moderate to low prices on large quantities of merchandise and lower service to simulate high turnover of products:

Back 9

Mass Merchandising

Front 10

The overall impression conveyed by a store's physical layout, decor, and surroundings:

Back 10

Atmosphere

Front 11

Retailer offering consumers very limited service and carrying a broad assortment of well-known, nationally branded "hard goods":

Back 11

Full-line Discounter

Front 12

What are the 4 types of nonstore retailing?

Back 12

1) Direct retailing
2) Automatic vending
3) Direct marketing
4) Electronic retailing

Front 13

Retailer that is owned by a single person or partnership and is not part of a larger retail institution:

Back 13

Independent Retailer

Front 14

What are the 4 retail promotion strategies?

Back 14

1) Sales promotion
2) Advertising
3) Publicity
4) Public relations

Front 15

Retailers that are owned and operated as a group by a single organization:

Back 15

Chain Stores

Front 16

Form of franchising in which there is an ongoing business relationship between a franchiser and a franchisee:

Back 16

Business Format Franchising

Front 17

Retailer that has the right to operate a business or sell a product:

Back 17

Franchise

Front 18

What are the 4 categories of discount stores?

Back 18

1) Full-line discounters
2) Off-price discount retailers
3) Warehouse clubs
4) Specialty discount stores

Front 19

The Body Shop is a retail store with a narrow assortment of merchandise (lotions and soaps) and with great depth in its product line. What kind of store is The Body Shop?

Back 19

Specialty Store

Front 20

Krispy Kreme sells rights to independent business owners who want to sell its doughnuts. Krispy Kreme is an example of a(n) _____.

Back 20

Franchiser

Front 21

What characteristic determines that a sale of a 12-foot tall sugar maple tree to a home gardener is a retailing activity, and the sale of the same tree to a landscaper who will use the tree in a client's yard is not a retailing activity?

Back 21

The way the buyers use the tree

Front 22

Spar is Ireland's largest supermarket chain. What might explain why Spar supermarkets sell all types of foodstuffs as well as nonfood products such as firearms and gun accessories?

Back 22

Consumer demand for one-stop shopping often leads to scrambled merchandising

Front 23

Loblaws in Canada sets low prices on large quantities of products and then uses daily television advertisements to stimulate a high turnover of inventory. Loblaws also offers a wide variety of product lines including pharmaceuticals, food, cooking classes, and more. Loblaws is a(n):

Back 23

Mass Merchandiser

Front 24

Glen's Safety First! sells a huge assortment of firefighting equipment at greatly reduced prices. It offers customers few services and competes on the basis of moderate to low prices on the large quantities of merchandise it stocks. Glen's Safety First! is an example of a(n):

Back 24

Specialty Discount Store

Front 25

The Samsonite Company has decided that the most profitable way to dispose of out-of-season and irregular stock would be to open a store and sell its own merchandise in a remote location. This is the retail strategy of:

Back 25

Factory outlets

Front 26

Strata is a retailing operation that sells on the Internet. It carries everything from jewelry to telescopes. The company states its products "enhance and inspire the appreciation and preservation of nature and world cultures." Strata is an example of:

Back 26

Online retailing

Front 27

QVC (Quality, Value, Convenience) markets a large variety of products on its own cable television channel and encourages shoppers to call a toll-free number to purchase the merchandise with a credit card. This form of retailing is called a(n):

Back 27

Shop-at-home network

Front 28

Arby's, Jiffy-Lube, Baskin-Robbins, and Sylvan Learning Centers are examples of ________ because the franchisee buys the right to use the franchisor's approach to doing business.

Back 28

Business format franchising

Front 29

Retailers such as Target and JCPenney are responding to consumer needs by changing product mixes, hours of operation, locations, and prices. These stores are changing aspects of their:

Back 29

Retailing mixes

Front 30

Geoff Hudson wants to open a specialty store to sell sports memorabilia and is considering locating it in a regional shopping mall. Before opening his new store, he needs to understand:

Back 30

The mall atmosphere and that of neighboring stores will help attract shoppers.

Front 31

Kierland Commons is a new open-air shopping area with an atmosphere that is part neighborhood park and part urban shopping center. It contains some upscale kitchen wares stores, several upscale clothing boutiques, and a few trendy restaurants. Kierland Commons is a:

Back 31

Lifestyle center

Front 32

Passport Furniture is a manufacturer of fine home furnishings. It offers to share the costs (up to five percent of the amount of products purchased by the retailer) of advertising with any retailer that carries its line of furniture. Retailers who took advantage of this offer would use:

Back 32

Cooperative advertising

Front 33

The only place you can purchase clothing with the Joe Boxer brand name is at Kmart. Kmart uses this ________ brand to increase its profit margins and eliminate intermediaries.

Back 33

Private

Front 34

Over the years, the Lexington Mall has added several entertainment venues to keep customers at the mall as long as possible. The mall now has an ice-skating rink, a rock-climbing area, and an indoor children's playground. This is an example of a mall trying to increase its:

Back 34

Interactivity

Front 35

You've just bought a new cell phone and contracted with a new cell phone service. One of the service's features is that you can add new ring tones to your phone for two dollars. You do this simply by connecting to the service center, which then sends your ring tone through a wireless method to your phone. Your purchase was made through:

Back 35

M-commerce

Front 36

Retailing represents how much of the U.S. GDP?

Back 36

40%

Front 37

Higher prices generally mean higher _____.

Back 37

Gross margins

Front 38

What are the six Ps of the retailing mix?

Back 38

Product, Price, Place, Promotion, Personnel, Presentation

Front 39

Who is the nation's top retailer?

Back 39

Wal-Mart

Front 40

The retailing industry employs how much of the nation's workers?

Back 40

Small amount - 12%

Front 41

Who dominates retail sales in the U.S.?

Back 41

Large retail operations

Front 42

Target markets in retailing are defined by what 3 things?

Back 42

1) Demographics
2) Geographics
3) Psychographics

Front 43

A store housing several departments under one roof:

Back 43

Department Store

Front 44

What are the 2 key tasks of the retail marketing strategy?

Back 44

1) Define and select a target market
2) Choose the retailing mix

Front 45

A miniature supermarket, carrying only a limited line of high-turnover convenience goods:

Back 45

Convenience Store

Front 46

A department head that selects the merchandise for his or her department and may also be responsible for promotion and personnel:

Back 46

Buyer

Front 47

A large, departmentalized, self-service retailer that specializes in food and some nonfood items:

Back 47

Supermarket

Front 48

A retail store that offers a nearly complete selection of single-line merchandise and uses self-service, discount prices, high volume, and high turnover:

Back 48

Specialty Discount Store

Front 49

What are the 7 major types or retailers?

Back 49

1) Department stores
2) Drugstores
3) Discount stores
4) Specialty stores
5) Supermarkets
6) Convenience stores
7) Restaurants

Front 50

A retail store that stocks pharmacy-related products and services as its main draw:

Back 50

Drugstore

Front 51

Shopping without visiting a store:

Back 51

Nonstore Retailing

Front 52

Limited-service merchant wholesalers that sell a limited selection of brand-name appliances, household items, and groceries on cash-and-carry basis to members, usually small businesses and groups:

Back 52

Warehouse Membership Clubs

Front 53

How do online retailers provide customer service?

Back 53

1) Easy-to-use website
2) Product availability
3) Simple returns

Front 54

The selling of products by representatives who work door-to-door, office-to-office, or at home parties:

Back 54

Direct Retailing

Front 55

What are the 3 most important factors when choosing the retailer site location?

Back 55

1) Competition
2) Economic growth potential
3) Geography

Front 56

A retail store specializing in a given type of merchandise:

Back 56

Specialty Store

Front 57

An off-price retailer that is owned and operated by a manufacturer:

Back 57

Factory Outlet

Front 58

What are the 6 most important factors involved in the presentation of the retail store?

Back 58

1) Employee type and density
2) Merchandise type and density
3) Fixture type and density
4) Sound
5) Odors
6) Visual factors

Front 59

A retailer that competes on the basis of low prices, high turnover, and high volume:

Back 59

Discount Store

Front 60

Techniques used to get consumers to make purchases from their home, office, or another nonretail setting:

Back 60

Direct Marketing

Front 61

What are the 2 common selling techniques used by retailers?

Back 61

1) Trading up
2) Suggestion selling

Front 62

A retailer that sells at prices 25 percent or more below traditional department store prices because it pays cash for its stock and usually doesn’t ask for return privileges:

Back 62

Off-price Retailer

Front 63

What must a retailer decide when choosing a proper site location?

Back 63

Whether to have a freestanding store, a shopping center, or a mall