Chapter 12 : Retailing

Question 1

RETAILING

Answer 1

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

Question 2

Classification

Answer 2

• Ownership
• level of service
• product assortment
• price
• place

Question 3

Ownership:

Answer 3

• Independent retailers
• chain stores
• franchises

Question 4

Independent retailers

Answer 4

Owned by a single person or partnership and to part of a larger institution

Question 5

Chain stores

Answer 5

Owned and operated as a group by a single organization

Question 6

franchises

Answer 6

Owned by individuals but they have The right to operate a business or sell a product

Question 7

• Level of service

Answer 7

• high end stores have high level of service
• discount stores have little service
• factory outlets, or warehouse have no service

Question 8

-product assortment

Answer 8

• the breadth and depth of the product they offer
  specialty stores- (lulu, aldo shoes) have the concentrated assortment

full line discounters - carry all kinds of shit (Zellers, Walmart)

Factory outlet- single line- nike

Question 9

• price

Answer 9

• high end stores- charge full suggested retail price

- factory outlets, discounts- charge way lower

Question 10

-place

Answer 10

• in-store retailing

- non-store retailing (online, vendors)

Question 11

Major Types of Retail Operations

Answer 11

• Department stores 
• Specialty stores
• Supermarkets
• Drugstores
• Convenience stores
• Discount stores
Restaurants

Question 12

• Department stores

Answer 12

• carries a wide variety of shopping and specialty goods, including apparel, cosmetics, housewares, electronics and sometimes furniture
• purchases at checkout areae

Question 13

• Specialty stores

Answer 13

• not only a type of store but also a method of retail operations–namely, specializing in a give type of merchandise
• typically carries a deeper but narrower assortment of specialty merchandise than a department store does (LuLu)

Question 14

• Supermarkets

Answer 14

-large, departmentalized, self-service retailers that specialize in food and some non-food items

Question 15

• Drugstores

Answer 15

• stock pharmacy-related products and services as their main draw
• DRUGS!!!!

Question 16

• Convenience stores

Answer 16

• a miniature supermarket, carrying only a limited line of high-turnover convenience goods
• self-serviced , typically located near residential areas and are open 24 hours

Question 17

• Discount stores

Answer 17

• is a retailer that competes on the basis of low prices, high turnover, and high volume
  1. full line discount store- offers consumers very limited service and carry a much broader assortment of well know , nationally branded hard goods, (toys, housewares, automotive
  2. specialty discount stores - offer a nearly complete selection of sing line merchandise and use self-service, discount prices, high volume, and high turnover to their advantage (sporting goods, electronics)
  3. Warehouse membership clubs- sell a limited selection of bran name appliances, household items, and groceries usually in bulk
  4. off price retailer-

Question 18

Restaurants

Answer 18

–food and shit!

Question 19

Non-store

Answer 19

• automated vending
• direct retail
• direct marketing
• electronic retailing

Question 20

-direct retail-

Answer 20

representatives sell products door-to-door, office-to-office, or at home sale parties.

Question 21

direct marketing-

Answer 21

refers to the techniques used for getting consumers to make a purchase form the home. (direct mail, catalog and mail order, telemarketing, and electronic retailing

Question 22

• electronic retailing-

Answer 22

includes the 24 hour shop at home television networks and online retailing

Question 23

Strategy for target market

Answer 23

• product- width and depth of the product assortment (right product for the right market, and the right time)
• price- what is best for customer base and cost effective
• place- location and hours, distribution strategy
• promotion- advertising, publicity, public relations
• presentation - layout and atmosphere
• personnel - customer service and personnel