Chapter 15

Question 1

Retailing

Answer 1

All activities involved in selling, renting, and providing goods and services to
ultimate consumers for personal, family, or household use

Question 2

Form of ownership

Answer 2

Distinguishes retail outlets based on whether individuals, corporate
chains, or contractual systems own the outlet.

Question 3

Level of Service

Answer 3

the degree of service provided to the customer by self-, limited-, and
full-service retailers. Level of service is easier for consumers to perceive than form of
ownership

Question 4

Depth of product line:

Answer 4

the store carries a large assortment of each item

Question 5

Breadth of product line

Answer 5

The variety of different items a store carries

Question 6

Scrambled merchandising

Answer 6

offering several unrelated product lines in a single retail store.
(Drugstores like Shoppers)

Question 7

Hypermarket

Answer 7

a large store offering consumers everything in a single outlet

Question 8

Intertype competition

Answer 8

competition between very dissimilar types of retail outlets.

Question 9

Telemarketing

Answer 9

using the telephone to interact with and sell directly to consumers.

Question 10

Retail positioning mix

Answer 10

: positions retail outlets on two dimensions:

1) breadth of product line
2) value added.

Question 11

Retailing mix

Answer 11

activities related to managing the store and the merchandise in the store –
including retail pricing, store location, retail communication, and merchandise.

Question 12

Shrinkage

Answer 12

breakage and theft of merchandise by customers and employees

Question 13

-Off price retailing

Answer 13

selling brand-name merchandise at lower than regular prices

Question 14

Central business district

Answer 14

the oldest retail setting, the community’s downtown area.

Question 15

Regional shopping centre

Answer 15

consists of 50 to 150 stores that typically attract customers who
live within an 8- to 16-km range, often containing two or three anchor stores.

Question 16

Community shopping centre

Answer 16

a retail location that typically has one primary store and 20 to
40 smaller outlets, serving a population of consumers who are within a 10 to 20-minute
drive

Question 17

Strip location

Answer 17

a cluster of stores serving people who live within a 5- to 10-minute drive

Question 18

Power centre

Answer 18

: a huge shopping strip with multiple anchor stores, a convenient location, and
a supermarket.

Question 19

Off mall retailing

Answer 19

occurs when retailers that traditionally locate in malls build on
stand-alone sites.

Question 20

Lifestyle centre

Answer 20

an open-air cluster of specialty retailers, along with theatres, restaurants,
fountains, play areas, and green spaces.

Question 21

Category management

Answer 21

an approach that assigns a manager with the responsibility for
selecting all products that consumers in a market segment might view as substitutes for
each other, with the objective of maximizing sales and profits in the category.

Question 22

Wheel of retailing

Answer 22

new retail outlets enter the market as low-status, low-margin stores and
gradually add embellishments that raise their prices and status.

Question 23

Retail life cycle

Answer 23

the process of growth and decline that retail outlets, like products,
experience.

Question 24

Showrooming

Answer 24

consumers go to retailers to test products, but ultimately purchase the
products from an online retailer.

Question 25

Integrated multichannel retailling

Answer 25

using a seamless combination of traditional store | formats and non-store formats, such as catalogues, television, electronic kiosks, and online