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63 Cards in this Set

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All of the activities directly related to the sale of goods and services to the ultimate consumer for personal, non-business use:
Form of franchising in which a dealer agrees to sell products provided by a manufacturer or wholesaler:
Product and Trade Name Franchising
Speciality discount stores that heavily dominate their narrow merchandise segment:
Category Killers
What are the 3 types of direct retailing?
1) Home sales parties
2) Office-to-office
3) Door-to-door
The amount of money the retailer makes as a percentage of sales after the cost of goods sold is subtracted:
Gross Margin
Retail store combining groceries and general merchandise goods with a wide range of services:
The mix of products offered to the consumer by the retailer; also called the product assortment or merchandise mix:
Product Offering
What are the 4 types of direct marketing?
1) Direct mail
2) Electronic retailing
3) Catalogs & mail order
4) Telemarketing
Retailing strategy using moderate to low prices on large quantities of merchandise and lower service to simulate high turnover of products:
Mass Merchandising
The overall impression conveyed by a store's physical layout, decor, and surroundings:
Retailer offering consumers very limited service and carrying a broad assortment of well-known, nationally branded "hard goods":
Full-line Discounter
What are the 4 types of nonstore retailing?
1) Direct retailing
2) Automatic vending
3) Direct marketing
4) Electronic retailing
Retailer that is owned by a single person or partnership and is not part of a larger retail institution:
Independent Retailer
What are the 4 retail promotion strategies?
1) Sales promotion
2) Advertising
3) Publicity
4) Public relations
Retailers that are owned and operated as a group by a single organization:
Chain Stores
Form of franchising in which there is an ongoing business relationship between a franchiser and a franchisee:
Business Format Franchising
Retailer that has the right to operate a business or sell a product:
What are the 4 categories of discount stores?
1) Full-line discounters
2) Off-price discount retailers
3) Warehouse clubs
4) Specialty discount stores
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?
Specialty Store
Krispy Kreme sells rights to independent business owners who want to sell its doughnuts. Krispy Kreme is an example of a(n) _____.
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?
The way the buyers use the tree
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?
Consumer demand for one-stop shopping often leads to scrambled merchandising
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):
Mass Merchandiser
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):
Specialty Discount Store
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:
Factory outlets
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:
Online retailing
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):
Shop-at-home network
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.
Business format franchising
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:
Retailing mixes
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:
The mall atmosphere and that of neighboring stores will help attract shoppers.
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:
Lifestyle center
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:
Cooperative advertising
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.
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:
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:
Retailing represents how much of the U.S. GDP?
Higher prices generally mean higher _____.
Gross margins
What are the six Ps of the retailing mix?
Product, Price, Place, Promotion, Personnel, Presentation
Who is the nation's top retailer?
The retailing industry employs how much of the nation's workers?
Small amount - 12%
Who dominates retail sales in the U.S.?
Large retail operations
Target markets in retailing are defined by what 3 things?
1) Demographics
2) Geographics
3) Psychographics
A store housing several departments under one roof:
Department Store
What are the 2 key tasks of the retail marketing strategy?
1) Define and select a target market
2) Choose the retailing mix
A miniature supermarket, carrying only a limited line of high-turnover convenience goods:
Convenience Store
A department head that selects the merchandise for his or her department and may also be responsible for promotion and personnel:
A large, departmentalized, self-service retailer that specializes in food and some nonfood items:
A retail store that offers a nearly complete selection of single-line merchandise and uses self-service, discount prices, high volume, and high turnover:
Specialty Discount Store
What are the 7 major types or retailers?
1) Department stores
2) Drugstores
3) Discount stores
4) Specialty stores
5) Supermarkets
6) Convenience stores
7) Restaurants
A retail store that stocks pharmacy-related products and services as its main draw:
Shopping without visiting a store:
Nonstore Retailing
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:
Warehouse Membership Clubs
How do online retailers provide customer service?
1) Easy-to-use website
2) Product availability
3) Simple returns
The selling of products by representatives who work door-to-door, office-to-office, or at home parties:
Direct Retailing
What are the 3 most important factors when choosing the retailer site location?
1) Competition
2) Economic growth potential
3) Geography
A retail store specializing in a given type of merchandise:
Specialty Store
An off-price retailer that is owned and operated by a manufacturer:
Factory Outlet
What are the 6 most important factors involved in the presentation of the retail store?
1) Employee type and density
2) Merchandise type and density
3) Fixture type and density
4) Sound
5) Odors
6) Visual factors
A retailer that competes on the basis of low prices, high turnover, and high volume:
Discount Store
Techniques used to get consumers to make purchases from their home, office, or another nonretail setting:
Direct Marketing
What are the 2 common selling techniques used by retailers?
1) Trading up
2) Suggestion selling
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:
Off-price Retailer
What must a retailer decide when choosing a proper site location?
Whether to have a freestanding store, a shopping center, or a mall