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Summary of the World of Retailing

 Introduction to the World of Retailing Article

Chapter 01

Introduction to the World of Retailing

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1 . (p. 6) What is retailing?

A. Is it doesn't merchandising element of the price tag mix.

B. It is the pair of business actions that gives value to the products and services purcahased by consumers for personal employ. C. It's the strategy stores and sellers use to obtain products in to the stores. D. It is the procedure for offering items in smaller quantities pertaining to consumer intake patterns. At the. It is the capability to offer enough variety in a store to encourage one-stop shopping.

Difficulty: Convenient

Type: Description

2 . (p. 6) Which will of the subsequent businesses can be considered a retailer? A. a hotdog cart on the Highland Games

B. Delta flight 1921

C. School bookstore

G. Priceline. com

E. all the above

Merchants are businesses that sell off goods and services.

Difficulty: Medium

Type: Application

three or more. (p. 6) Why is it essential that suppliers like Apple Computer and Proctor and Gamble understand how retailers run? A. Suppliers will be able to sell off directly online.

B. Companies will realize how to get their goods on the shelves and sold to the consumer. C. Suppliers can better sell goods without suppliers. D. Retailers can expect fewer buyouts to happen.

E. Producers can limit multi-channel integration

Difficulty: Medium

Type: Comprehension

4. (p. 6) A ______________ can be described as business that sells products and/or services to consumers for their personal or family use. A. manufacturer

M. wholesaler

C. retailer

D. Distributor

Problems: Easy

Type: Definition

your five. (p. 6) The decisions that price tag manger generate include:

A. Choosing their goal markets

N. Selecting full locations

C. Negotiating with suppliers

G. Training and motivating revenue associates

E. All of the above

Difficulty: Convenient

Type: Knowledge

6. (p. 7) A(n) ______________ is known as a set of organizations that make and deliver a offered set of goods and services to the ultimate consumer. A. supply string

B. buying network

C. trade affiliation

D. included wholesale network

Difficulty: Convenient

Type: Definition

7. (p. 7) A retailer's function in a supply chain is to:

A. act as the liaison among manufacturers and wholesalers

M. buy merchandise exclusively from your manufacturers

C. negotiate with manufacturers to remove a flower nurseries

D. fulfill the needs from the consumers

Electronic. sell to wholesalers

Problems: Easy

Type: Definition

almost 8. (p. 7) ______________ is definitely when a organization performs several set of activities in a route. A. Route diversification

B. Horizontal development

C. Side to side integration

M. Vertical advancement

E. Top to bottom integration

Problems: Easy

Type: Definition

being unfaithful. (p. 7) If a cycle of florist shops opened up a plant nursery to supply gift plants and lower flowers for all of the outlets in a 300-mile radius, the chain would be practicing A. up and down integration.

W. channel development.

C. lateral expansion.

M. opportunity incrementing.

E. assistance marketing.

The florist is definitely performing more than one channel function.

Difficulty: Moderate

Type: Program

10. (p. 7) Victoria's Secret, a common retail sequence in women's lingerie and perfume, design the merchandise they sell, and then contract with companies to produce that exclusively for these people. Victoria's Top secret is practicing: A. the positive effect

B. product-related marketing

C. vertical the usage

D. side to side integration

At the. product diversity

Because the full chain styles and deals its making firm, costly example of vertical integration.

Difficulty: Moderate

Type: Program

11. (p. 7) What makes it advantageous to get retailers to become vertically integrated? A. It truly is advantageous because retailers can develop unique items sold only in their stores. B. Retailers can broaden their solutions easily to the Internet because...

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