Marketing 3001 Exam 3 Ch. 14

Front 1

outside the US, large retailers include Daiei in _____, Carrefour in ______, _____ _____ in germany, and ______ in Britain

Back 1

Japan, France, Metro Group, Tesco

Front 2

what are the three different ways to classify retail outlets

Back 2

1. form of service (individuals, chains, or contractual systems) 2. level of service (self, limited, and full) 3. merchanidise line

Front 3

one of the most common froms of retail ownership is the independent retailer owned by an ______. more than ____% of all retailers have four or less employees

Back 3

individual, 50

Front 4

stores such as wal mart and target are implementing pioneering new technolggies such as _____ _____ ______ _____ (RFID) tags to improve quality of info available about products

Back 4

radio frequency identification

Front 5

corporate chains have advatages in dealing with _______, particularly as size grows. they can obtain good service of ______ discounts on orders

Back 5

manufacturers, volume

Front 6

________ systems involve independently owned stores that band together to act like a chain.

Back 6

contractual

Front 7

waht are the three kinds of contractual systems?

Back 7

1. retailer-sponsored, 2. wholesaler-sponsored voluntary chains, and 3. franchises

Front 8

in ____-format franshising, the frandshisor provides step by step procedures for omst aspects of buisiness and guidelines (mcdonalds, radioshack)

Back 8

business

Front 9

waht are the two types of franchises? provide one example of each

Back 9

1. business-format (mcdonalds, subway, radioshack) and 2. product-distribution (ford dealership or coke distributor)

Front 10

differences among retailers are more obvious in terms of L____ o_ S_____

Back 10

level of service

Front 11

give an example of a self-service retailer

Back 11

costco, gas station

Front 12

give a brief def of limited service retailer and an example

Back 12

customers are responsible for most shopping activities, although salespeople are available in dept; kmart, target, walmart

Front 13

def full service retailer and give an example

Back 13

includes most specialty stores and dept stores, provide many services to customres (credit, financine, gift wrapping, etc); nordstrom, neiman marcus, saks fifth ave

Front 14

waht are the two types of merchandise lines?

Back 14

depth of line, breadth of line

Front 15

stores that carry a considersable assrothment (depth) of a related line of producuts are called ____-___ stores

Back 15

limited line

Front 16

give an example of a self-service retailer

Back 16

costco, gas station

Front 17

give a brief def of limited service retailer and an example

Back 17

customers are responsible for most shopping activities, although salespeople are available in dept; kmart, target, walmart

Front 18

def full service retailer and give an example

Back 18

includes most specialty stores and dept stores, provide many services to customres (credit, financine, gift wrapping, etc); nordstrom, neiman marcus, saks fifth ave

Front 19

waht are the two types of merchandise lines?

Back 19

depth of line, breadth of line

Front 20

stores that carry a considersable assrothment (depth) of a related line of producuts are called ____-___ stores

Back 20

limited line

Front 21

limited and single line stores are often referred to as ________ outlets

Back 21

specialty

Front 22

stores that carry tremendous depth in one primary line of merch are _____-___ stores

Back 22

single line

Front 23

stores that carry a broad product line, with limited depth are referred to as ________ ______ stores (macys, dillards)

Back 23

general merchandise

Front 24

def scrambled merchandising

Back 24

offfering several unrealted prduct lines in a single store (drugstores)

Front 25

what are the six forms of nonstore retailing?

Back 25

1. automatic vending
2. direct mail and catalogs
3. TV home shopping
4. online shopping
5. telemarketing
6. direct selling

Front 26

direct mail focuses on ______ customers rather than ________ customers to save money and be more green

Back 26

proven, prospective

Front 27

compared with direct mail, _________ is viewed as a more efficient means of targeting consumers

Back 27

telemarketing

Front 28

give some examples of retailers who participate in direct selling

Back 28

mary kay, avon, fuller brush
(direct sales through personal interactions, and demonstrations in home or office)

Front 29

the numbr of companies using direct selling has increase by ___% in the past 5 years

Back 29

30

Front 30

define the retailing mix (PLCM)

Back 30

activities related to managing the store and the merchandising in the store, which includes retail pricing, store location, retail communication, and merchadise

Front 31

the original markup is the difference between the ______ cost and the initial ______ price

Back 31

retailer, selling

Front 32

the difference between the final selling price and retailer cost is the _______ markup, which is also called the ______ margin

Back 32

maintained, gross

Front 33

walmart an dhome depot consistensly offere ow prices and emlinate most markdowns with a strategy called ________ ______ ______

Back 33

everyday low pricing

Front 34

retailers decided on the original markup, but by the time the product is sold, they end up with a __________ markup

Back 34

maintained

Front 35

E____ F___ P_____ is advoated by reatilers that may not offere ht lowest price, but try to create value for customers thorugh ssercive and the total buying experience

Back 35

everyday fair pricing

Front 36

most stores today are near several others in one of these four settings...

Back 36

1. central business district
2. regional center
3. strip mall
4. power center

Front 37

which store setting typically consists of 50-150 stores that typically attract cusotmers who live or work withing a 5 to 10 mile range and have 2 or 3 anchor stores (west edmonton mall in canada)

Back 37

regional shopping centersf

Front 38

which store setting is a huge shopping strip with multiple anchor (2-5) stores. they often contain a super market, which brings the shopper on a weekly basis

Back 38

power center

Front 39

def strip mall

Back 39

crappy string of unplanned stores (elk river crossing), grocery, laundry, pharmacy, hardware, etc

Front 40

def category mangement

Back 40

an approcach to managin the assortment of merchandise that maximizes sales and profits (a category manager might be responsibel for shoes in a dept store or paper products in a grocery store

Front 41

waht is CMAR?

Back 41

consumer marketing at retail (research used to id shopper problems, creating marketing mix solutions, executing programs, and montiroing performance of merch)

Front 42

waht are the three categories of marketing metrics that can be used to asses hte affetiveness of a store?

Back 42

cusotmer (# of customers in store), product (number of returns, inv turnover), and financial (gross margin, sales per employee)

Front 43

def the wheel of retailing

Back 43

descibes how new forms of retail outlets enter hte market

Front 44

def the retail life cycle and list each of its stages

Back 44

process of growth and decline that retail outlets experience over time (early growth, accelerated development, maturity, decline) pg. 327

Front 45

def merchant wholesalers

Back 45

independently owned firms that take title to the merchandise they handle

Front 46

def general merchandise wholesalers (full-line)

Back 46

broad assortment of merch and perform all channel fucntion; most prevalent in hardware, drug and clothing industries; don't maintain much depth

Front 47

def specialty merchandise wholesalers (limited line)

Back 47

narrow range of products, extensive assortment within product lines carried; perform all channel fucntions; health foods, auto parts, seafood

Front 48

def rack jobbers (limited service)

Back 48

furnish racks or shelves that display merch in retail stores ;(hosiery, toys, housewares, and health/beauty items)

Front 49

def cash and carry wholesales (limited service)

Back 49

sell to buyers who call on them, pay cash for merch and furnish thier own trans for merch; do not make deliveries, extend credit, or supply market info; electric supplies, office supplies, prudcts, groceries

Front 50

def drop shippers ( or desk jobbers)

Back 50

wholesalers taht own merch they sell but do not handle stock or deliver; they just solicit orders; used for bulky products like coal, lumber, chemicals

Front 51

def truck jobbers

Back 51

small wholesalers; have limited assortments of fast-moving or perishable items aht are sold for cash directly from trucks; bakery items, dairy, meat

Front 52

def manufacturers agents

Back 52

agenst who work for several producers and carry noncompetitive, completmentary merch in an exclusice territory

Front 53

def selling agents

Back 53

represent single producer; responsible for entire marketing function of that producer; textile, apparel, food, and home furnishing indsustries

Front 54

what are ... independent firms of individuals whose main funciton is to bring buyers and sellers together to make sales (used with seasonal products and in real estate)

Back 54

brokers

Front 55

waht is the difference between a manufacutures branch office, and a manufacutures sales office

Back 55

branch carries inventory and performs sales (full service), sales just performs sales (alternative to agents and brokers)