MAR2023 EXAM 3 SG QUESTIONS AND ANSWERS WITH
COMPLETE SOLUTIONS GRADED A++
retailing
all activities involving selling, renting, and providing products and services to ultimate
consumers for personal, family, or household use
form of ownership
distinguishes retail outlets based on whether independent retailers, corp chains, or
contractual systems own the outlet
level of service
used to describe the degree of service provided to the customer
merchandise line
many different types of products a store carries and in what assortment
3 forms of retail ownership
1. independent retailer: most common; owner is the boss
2. corporate chain: multiple outlets under common ownership
3. contractual systems: independently owned stores that band together and act like a
chain
depth of product line
store carries large assortment of each item
breadth of product line
variety of different items a store carries
,specialty outlets
both single and limited line stores
category killers
specialty discount outlets that focus on one product
scrambled merchandising
offering several unrelated product lines in a single store
hypermarket
large stores, more than 200,000 square feet; offer everything under one roof
intertype competition
competition between very dissimilar types of retail outlets
retail positioning matrix
positions retail outlets on 2 dimensions: breadth of product line and value added
retailing mix
includes activities related to managing the store and the merchandise in the store
original markup
difference between retailed cost and initial selling price
maintained markup
gross margin; difference between final selling price and retailer cost
off price retailing
brand name merchandise at lower than regular prices
store locations
1. central business district: oldest/downtown area
2. regional shopping centers: 50 to 150 stores that attract customers within a 5-10 mile
, range
3. community shopping center: 1 primary store and often 20 to 40 smaller stores within
10-20 minute drive
4. strip mall
5. power center
shopper marketing
use of displays, coupons, and samples to influence shopper behavior
sales per square foot formula
total sales/selling area in sq. ft
same-store sales growth
store sales in yr 2 - sales in yr 1 / sales in yr 1
wheel of retailing
new forms of retail outlets enter the market; low status or low margin
retail life cycle
process of growth and decline that retail outlets experience
merchant wholesalers
independently owned firms that take title to the merchandise they handle (industrial
distributor)
general merchandise wholesalers
carry broad assortment of merch and perform all channel functions;
hardware/drug/clothing stores
speciality merch
COMPLETE SOLUTIONS GRADED A++
retailing
all activities involving selling, renting, and providing products and services to ultimate
consumers for personal, family, or household use
form of ownership
distinguishes retail outlets based on whether independent retailers, corp chains, or
contractual systems own the outlet
level of service
used to describe the degree of service provided to the customer
merchandise line
many different types of products a store carries and in what assortment
3 forms of retail ownership
1. independent retailer: most common; owner is the boss
2. corporate chain: multiple outlets under common ownership
3. contractual systems: independently owned stores that band together and act like a
chain
depth of product line
store carries large assortment of each item
breadth of product line
variety of different items a store carries
,specialty outlets
both single and limited line stores
category killers
specialty discount outlets that focus on one product
scrambled merchandising
offering several unrelated product lines in a single store
hypermarket
large stores, more than 200,000 square feet; offer everything under one roof
intertype competition
competition between very dissimilar types of retail outlets
retail positioning matrix
positions retail outlets on 2 dimensions: breadth of product line and value added
retailing mix
includes activities related to managing the store and the merchandise in the store
original markup
difference between retailed cost and initial selling price
maintained markup
gross margin; difference between final selling price and retailer cost
off price retailing
brand name merchandise at lower than regular prices
store locations
1. central business district: oldest/downtown area
2. regional shopping centers: 50 to 150 stores that attract customers within a 5-10 mile
, range
3. community shopping center: 1 primary store and often 20 to 40 smaller stores within
10-20 minute drive
4. strip mall
5. power center
shopper marketing
use of displays, coupons, and samples to influence shopper behavior
sales per square foot formula
total sales/selling area in sq. ft
same-store sales growth
store sales in yr 2 - sales in yr 1 / sales in yr 1
wheel of retailing
new forms of retail outlets enter the market; low status or low margin
retail life cycle
process of growth and decline that retail outlets experience
merchant wholesalers
independently owned firms that take title to the merchandise they handle (industrial
distributor)
general merchandise wholesalers
carry broad assortment of merch and perform all channel functions;
hardware/drug/clothing stores
speciality merch
