AND CORRECT ANSWERS COMPLETE
HOSPITALITY STUDY GUIDE
●● Innovative Buyer
Answer: The buyer who wants to be first to purchase and own the latest
merchandise
●● Impulse Buyer
Answer: The person who makes quick purchase decisions
●● Physical Cue
Answer: A physical need such as hunger or thirst that drives behavior
●● Retailing
Answer: No matter what format it takes, retailing is the method by
which consumers acquire products and services
●● Direct Selling
Answer: Salespeople contact customers directly in a convenient location,
often at a customer's home; demonstrate product benefits; take orders;
and deliver the products or perform the services.
,●● Stimulus
Answer: A thing or event that causes a reaction
●● Manufacturer
Answer: Produces the products
●● Social Cue
Answer: Decision making based on the suggestion or preference of a
friend, colleague or family member
●● E-Commerce
Answer: Buying and selling through the internet via electronic device
●● Wholesale Clubs
Answer: Wholesalers who sell products in bulk directly to consumers.
These clubs typically require a membership
●● Supercenters
Answer: These stores typically combine a supermarket and department
store, resulting in a gigantic retail facility that carries an enormous range
of products, from apparel to groceries to automotive supplies, all under
one roof
,●● Closeout Stores
Answer: Off-price stores that offer an assortment of brand-name
merchandise at a significant discount off the manufacturer's price
●● Multichannel
Answer: Retail operations with customer transactions possible through
multiple connected channels
●● Commercial Cue
Answer: Advertising message that impacts purchase decisions
●● Gross Domestic Product
Answer: The monetary value of all the finished goods and services
produced within a county annually
●● Independent Establishment
Answer: Typically single store or a small, regional chain
●● Supermarkets
Answer: These stores sell a wide variety of goods including food,
alcohol, and medicine
●● Omni Channel
, Answer: Similar to multichannel retailing, with the focus on creating a
seamless consumer experiences through any and all shopping channels
●● Recreational Shopper
Answer: This customer shops for fun, and therefore shopping does not
necessarily mean always making a purchase
●● Brick-and-Mortar
Answer: The presence of a physical storefront and face-to-face customer
experiences
●● Corporate Chain
Answer: A company that operates multiple stores under common
ownership, and usually has centralized decision-making
●● Convenience Stores
Answer: Stores that aim at providing their customers a convenient
shopping experience. General merchandise stores are easily accessible,
small in size, with quick shopping and easy checkout
●● Wholesaler
Answer: Buys large quantities of products directly from the
manufacturer, breaks them into smaller units, and sells the smaller
unities to retailers