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Mkting Ch 14
| Question | Answer |
|---|---|
| independent firms or individuals whose principal function is to bring buyers and sellers together to make sales | brokers |
| an approach to managing the assortment of merchandise in which a manager is assigned the responsibility for selecting all products that consumers in a mkt segment might view as substitutes for each other, w/ the objective of max sales and profits | category management |
| agents who work for several producers and carry non competitive, complementary merchandise in an exclusive territory. called manufacturer's representatives | manufacturer's agents |
| independently owned firms that take title to the merchandise they handle | merchant wholesalers |
| retailers that utilize and integrate a combination of traditional store formats and nonstore formats, such as catalogs, tv, and online retailing | multichannel retailers |
| process of growth and decline that retail outlets, like products, experience over time. the retail life cycle consists of the early growth, accelerated development, maturity, and decline stage | retail life cycle |
| all activities involved in selling, renting, and prividing prods and service to ultimate consumers for personal, family, or household use | retailing |
| activities related to managing the store and the merchandise in the store which includes retail pricing, store location, retail communication, and merchandise | retailing mix |
| offering several unrelated product lines in a single retail store | scrambled merchandising |
| a concept that describes how new forms of retail outlets enter the market | wheel of retailing |
| Describe the difference between the two types of merchandise lines: depth of product and breadth of product. | depth of product - store carries a large assortment of each item breadth of product - refers to the variety of different items a store carries |
| how much should be added to the cost the retailer paid for a product to reach the final selling price | markup |
| difference between retailer cost and initial selling price | original markup |
| difference between the final selling price and the retailer cost | gross margin (maintained markup) |
| advanced form of category management | Consumer Marketing at Retail (CMAR) |
| Name the three levels of retail outlets | 1. form of ownership 2. level of service 3. merchandise line |
| name the 3 forms of ownership | 1. independent 2. corp chain 3. contractual system |
| name the 2 levels of service | 1. self-service (customers preform many functions themselves) 2. limited service (provide some service/customers responsible for most shopping) 3.full service (provide many services to customers) |
| name the 6 forms of nonstore retailing | 1. vending 2. direct mail / catalogs 3. tv home shopping 4. online 5. telemarketing 6. direct selling (MaryKay) |
| what are the 4 parts of the retailing mix? | 1. retail pricing 2. store location 3. communication 4. merchandise |
| describe the difference between manufacturer's branch office and manufacturer's sales office | branch office - carries a producer's inventory & preforms functions sales office - does not carry products only preforms sales transactions |
| describe merchant wholesalers full-serv vs limited serv | general merchandise (full) - carry a broad range of products and preform all channel functions specialty merchandise (limited) - offer a relatively narrow range of prod but have an extensive assortment with/in prod lines carried |
Created by:
mwoltner
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