Customer service

Question 1

Retail

Answer 1

a business that sells products and/or services to consumers

Question 2

Retailing

Answer 2

the method by which consumers acquire products and services

Question 3

The distribution channel

Answer 3

Manufacturer -> wholesaler -> retailer ->consumer

Question 4

Manufacturer

Answer 4

produces the products

Question 5

Wholesaler

Answer 5

buys large quantities of products directly from the manufacturer, breaks them into smaller units, and sells the smaller units to retail

Question 6

Retailer

Answer 6

receives, stores, displays, and sells the products to customers

Question 7

Convenience stores

Answer 7

• stores that aim to provide their customers a convenient shopping experience. They are usually easily accessible and small in size. The selection is usually limited and prices may be higher. Ex. Delcambre fuel depot, the country store, eddies one shop.

Question 8

Department stores

Answer 8

classified as general merchandisers. They offer good services and broad variety and assortment of products of mid- to- high quality. Ex. Macy’s, Dillard’s

Question 9

Direct selling

Answer 9

salespeople contact customers directly in a convenient location, usually the customers home, demonstrates products, takes orders, and delivers the product or performs the service. EX. Pampered chef, rainbow vacuums

Question 10

Discount stores

Answer 10

the retailers offer a broad variety of merchandise, limited services, and a low price. EX. Target, Walmart

Question 11

Off-price retailers

Answer 11

• these retailers offer brand name merchandise at a discount. The merchandise typically consist of excess inventory, closeouts, and irregulars. Typically does not have online sales due to the inconsistence of their inventory. There are 2 categories of off- price retailers:

Question 12

Closeout stores

Answer 12

these stores offer a variety of brand-name merchandise at a significant discount off the manufacturer’s price. They buy from manufacturers and retailers at roughly one-fourth the original price. Ex. T.J. Maxx, Marshals

Question 13

Outlet stores

Answer 13

off-price stores that are owned by the manufacturer or retailer. Ex. Nike outlet, carters outlet

Question 14

Pure pay

Answer 14

retailers that started out online and continued to do all their business that way. EX. Amazon, eBay

Question 15

Specialty stores

Answer 15

focus on deep but narrow assortments with a high level of customer service, Ex. Sephora, Walgreens

Question 16

Supercenters

Answer 16

typically combines a supermarket with a department store. They carry an enormous range of products, from apparel to groceries to automotive supplies Ex. Walmart, super target

Question 17

Supermarkets

Answer 17

these stores sell a wide variety of goods including food, alcohol, and medicine. Ex. Albertsons, Winn Dixie

Question 18

Thrift stores

Answer 18

these stores sell secondhand clothes and other household goods, typically to raise funds for a charitable institution. The products are usually donated by individuals. EX. Goodwill

Question 19

Wholesale clubs

Answer 19

some wholesalers started selling products directly to consumers. They take on the role of both wholesalers and retailers. EX. Costco, Sam’s

Question 20

Multichannel

Answer 20

retail operations offering customer transactions through multiple connected channel, including some or all of the following: physical stores, online stores sites, mobile apps, and telephone.

Question 21

Ominchannel

Answer 21

• similar to multichannel retailing, with the focus on creating a seamless consumer experience through any and all shopping channels- mobile, tablet, computer, physical store, TV, radio, mail, and catalog

Question 22

Comparison shopper

Answer 22

the customer who spends time searching for the best price or deal on the item she is looking to purchase

Question 23

Diverse shopper

Answer 23

this buyer is hard to predict or to understand. He shops in many different places and is not obviously influenced by any one retail element.

Question 24

Follower

Answer 24

this customer usually waits to see what the latest trends will be and is reluctant to try new products until friends have done so and reported to them

Question 25

Impulse buyer

Answer 25

the person who makes quick purchase decisions

Question 26

Innovative customer

Answer 26

the buyer who wants to be the first to purchase and own the latest merchandise

Question 27

Recreational shopper

Answer 27

this customer shops for fun, and therefore shopping does not necessarily mean always make a purchase.