Question 1

Retail stores can be classified in terms of several characteristics.Name four of these.

Accepted Answer

The answer of Retail stores can be classified in terms...

Question 2

Savvy wholesalers realize that their only reason for existence comes from increasing the efficiency and effectiveness of the ________.

Accepted Answer

The answer of Savvy wholesalers realize that their only reason...

Question 3

________ and ________ do not take title to goods,and they perform only a few channel functions.

Accepted Answer

The answer of ________ and ________ do not take title...

Question 4

In order to ________,wholesalers can propose automatic reordering systems,set up management-training and advising systems,or even sponsor a voluntary chain.

Accepted Answer

The answer of In order to ________,wholesalers can propose automatic...

Question 5

Which type of wholesaler sells primarily to manufacturers rather than to retailers?

Accepted Answer

Industrial distributors specialize in selling goods and materials to manufacturers rather than to retailers, focusing on the specific needs of the industrial sector.

Question 6

Describe the differences between discount stores and off-price retailers.

Accepted Answer

The answer of Describe the differences between discount stores and...

Question 7

How have department stores responded to increased competition by specialty stores?

Accepted Answer

The answer of How have department stores responded to increased...

Question 8

You own an independent store in your neighbourhood.You still like to offer fresh seafood in your meat display case.Which type of wholesaler might best serve you?

Accepted Answer

Cash-and-carry wholesalers are best suited for small retailers like an independent store. They allow the store owner to purchase goods in smaller quantities without needing delivery services, which is ideal for perishable items like seafood that need to be restocked frequently and carefully managed.

Question 9

Which of the following is not one of the major classifications of wholesalers?

Accepted Answer

The major classifications of wholesalers typically include merchant wholesalers, agents, manufacturers' sales branches and offices, and brokers. "Specialty wholesalers" is not a standard classification used in the industry.

Question 10

How can discount stores sell merchandise at lower prices?

Accepted Answer

The answer of How can discount stores sell merchandise at...

Question 11

Like retailers,wholesalers must ________ their target markets and ________ themselves effectively for they cannot serve everyone.

Accepted Answer

The answer of Like retailers,wholesalers must ________ their target markets...

Question 12

Compare and contrast specialty stores and convenience stores.

Accepted Answer

The answer of Compare and contrast specialty stores and convenience...

Question 13

What types of products do specialty stores carry? Give an example of a specialty store.

Accepted Answer

The answer of What types of products do specialty stores...

Question 14

________,or manufacturers' representatives,represent a buyer or seller on a more permanent basis.

Accepted Answer

The answer of ________,or manufacturers' representatives,represent a buyer or seller...

Question 15

Which type of limited-service wholesaler is owned by farmers who assemble farm produce to sell in local markets?

Accepted Answer

Producer's co-operative is a type of limited-service wholesaler that is owned by farmers who assemble their farm produce to sell in local markets. This arrangement allows farmers to pool their resources and access larger markets more efficiently.

Question 16

Kiera Roselli,a general merchandise wholesaler,constantly looks for better ways to meet the needs of her suppliers and target customers.She knows that her business adds value by increasing the efficiency and effectiveness of the ________.

Accepted Answer

The answer of Kiera Roselli,a general merchandise wholesaler,constantly looks for...

Question 17

You own a neighbourhood grocery store and would like to have non-food items delivered,priced,displayed and inventoried by a wholesaler.You do not want to purchase title to the goods.Which type of wholesaler best fits your needs?

Accepted Answer

Rack jobbers specialize in non-food items and often provide services such as delivery, pricing, shelving, and inventory management without transferring ownership of the goods to the retailer. This arrangement allows the store to offer a variety of products without the need to purchase them outright.

Question 18

What types of products may be sold through category killers?

Accepted Answer

The answer of What types of products may be sold...

Question 19

A retailer may fail because it tries to provide "something for everyone" and ends up satisfying no market well.Successful retailers ________ their target markets well and position themselves strongly.

Accepted Answer

The answer of A retailer may fail because it tries...

Question 20

A(n)________ brings buyers and sellers together and assists in negotiations.

Accepted Answer

The answer of A(n)________ brings buyers and sellers together and...

Quiz 13: Retailing and Wholesaling