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Exam 16: Managing Retailing, wholesaling, and Logistics

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Question 31

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A ________ is a storeless retailer serving a specific clientele-usually employees of large organizations-who are authorized to buy from a list of retailers that have agreed to give discounts in return for inclusion on the list.

A) direct-selling vendor
B) direct marketing vendor
C) buying service
D) automatic vendor
E) corporate retailer

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Question 32

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Companies are reducing their inventory costs by treating inventory items differently,positioning them according to risk and opportunity.High-risk,low-opportunity items are known as ________.

A) nuisance items
B) bottleneck items
C) commodities
D) critical items
E) containerized items

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Question 33

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After deciding on the product-assortment strategy,the retailer must establish merchandise sources,________,and practices.

Supply chain management (SCM) starts before physical distribution.It involves procuring the right inputs,_____ them efficiently into finished products,and then distributing them to the right customers.

The choice of transportation methods of distribution have negligible effects on the prices charged for the product and therefore marketers need not be overly involved in this process.

Your division has a new general manager.As part of his stated tasks,he believes in "getting the right goods to the right places at the right time for the least cost." As your company's logistics manager,you know that this objective provides little practical guidance and could in fact be detrimental to the company objectives.How would you formulate a response to the new general manager to convince him to change his "position" regarding customer service?

One of the advantages of corporate retailing is that corporate retail organizations achieve economies of scale,greater purchasing power,and ________.

________ involves planning the infrastructure to meet demand,then implementing and controlling the physical flows of materials and final goods from points of origin to points of use,to meet customer requirements at a profit.

Retailing includes all the activities involved in selling goods or services directly to final consumers for personal,nonbusiness use.

There is generally a relationship between high customer traffic and high rents in choosing a retail location.

Explain why the market-logistics strategies must be derived from business strategies,rather than solely from cost considerations.

Distributors differ from retailers in a number of ways.One of these ways is that distributor transactions are usually ________ than retail transactions.

Supply chain management is the broader concept of physical distribution.Explain the concept of "supply chain management."

When considering competitors' service standards,companies normally want to match or exceed the competitors' service level while simultaneously maximizing ________.

Recent trends in retailing includes which of the following?

Private-label merchandise is also known as store,house,or distributor brands.

The first step to retail category management is to ________,which means deciding where to draw the line between product categories.

Traditional brick-and-mortar retailers are responding to the growth of e-commerce by providing and emphasizing ________ as a strong differentiator.

You and your best friend are considering opening a retail store.You have identified your target market and location.Now you must decide on the format.You are pressing for a store that offers leftover goods,overruns,and irregular merchandise sold at less than full retail.This is a description of a(n) _________ retailer.

The three elements of the services mix for retailers includes ________.