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Marketing Final Exam chp 16

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chelseaabw's version from 2016-12-09 19:48

Section

Question Answer
What are manufacturers agentswork for several producers and carry noncompetitive, complementary merchandise in an exclusive territory
What are speciality merchandise (limited line) wholesalers? offer a relatively narrow range of products but have an extensive assortment within the product lines carried, found in health foods, automotive parts and seafood industries
What are general merchandise (full line) wholesalers?carry a broad assortment of merchandise and perform all channel functions most prevalent in hardware, drug and clothing industries
What are merchant wholesalersindependently owned firms that take title to the merchandise they handle
What are business format franchises?the franchisor provides step by step procedures for most aspects of the business and guidelines for the most likely decisions a franchise will face , such as mcdonalds , 7eleven
What are product distribtuon franchises?franchisor provides a few general guidelines and the franchise is much more independent, examplecoke, ford dealership
what is off price retailing? involves selling brand name merchandise at lower than regular prices example: tj maxx, marshalls
What are multichannel retailers?utilize and intergrate a combo of traditional store formats and nonstore formats such as catalogs, tv, home shopping and online shopping example: barnes & noble created barnes & noble.com to compete with amazon.com
What does wheel of retailing mean? describes how new forms of retail outlets enter the market (bascially how it changes over time)
What is breadth of product line?refers to the variety of different items a store carries such as appliances and books
What is a power center?a huge shopping strip with multiple anchor or national stores such as Home depot, best buy, jcpenny
What is a community shopping center?typically has one primary store (department store branch) and often about 20-40 smaller outlets
What are regional shopping centers? consist of 50 to 150 stores, contain 2 or 3 anchor stores that are well known national or regional stores such as sears, saks 5th avenue, bloomingdales
What is a hypermarket?offering everything under one roof, eliminating the need to stop at more than one location example: walmart
What are selling agents?represent a single producer and are responsible for the entire marketing function of that producer
What are cash & carry whole salers?take title to merchandise but sell only to buyers who call on them, pay cash for merchandise and furnish their own transportation for merchandise
What are drop shippers or desk jobbers?wholesalers that own the merchandise they sell but do not physically handle stock or deliever it
What are brokers?independent firms or individuals whose principal function is to bring buyers and sellers together to make sales
What is depth of product line?means the store carries a large assortment of each item such as a shoe store that offers running shoes, dress shoes and children shoes, example sports authority carries sports equipment raning from weight lift accessories to running shoes
what is orginal markup? the difference between retailer cost and initial selling price
What is maintained markup (gross margin) ? the difference between the final selling price and retailer cost
What is scrambled merchandising? when the store offers several unrelated product lines in a single store example when a drugstore carries food, camera equipment
What is intertype competion? competiong between very dissimilar types of retail outlets
memorize

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