COB 300 MCMILLEN FINAL EXAM
QUESTIONS AND ANSWERS
Selective distribution - Answer-The use of more than one but fewer than all of the
intermediaries that are willing to carry the company's products. Shopping goods
Supply chain management - Answer-Managing upstream and downstream value-added
flows of materials, final goods, and related information among supplier, the company,
resellers, and final consumers
Integrated logistics management - Answer-The logistics concept that emphasizes
teamwork- both inside the company and among all the marketing channel
organizations- to maximize the performance of the entire distribution system
Retailing - Answer-All the activities involved in selling goods or services directly to final
consumers for their personal, non-business use
Retailer - Answer-A business whose sales come primarily from retailing
Shopper marketing - Answer-Focusing the entire marketing process on turning
shoppers into buyers as the approach the point of sale, whether during in-store, online,
or mobile shopping
Omni-channel retailing - Answer-Creating a seamless cross-channel buying experience
that integrates in-store, online, and mobile shopping
Specialty store - Answer-A retail store that carries a narrow product line with a deep
assortment within that line (REI, Sunglasses Hut)
Department store - Answer-A retail store that carries a wide variety of product lines,
each operated as a separate department managed by specialist buyers or
merchandisers (Macy's)
Supermarket - Answer-A large, low-cost, low-margin, high-volume, self-service store
that carries a wide variety or grocery and household products (Kroger)
Convenience store - Answer-A small store located near a residential area, that is open
long hours seven days a week and carries a limited line of high-turnover convenience
goods (711)
Superstore - Answer-A store much larger than a regular supermarket that offers a large
assortment of routinely purchased food products, non-food items, and services
(Walmart Superstore)
, Category killer - Answer-A giant specialty store that carrie a very deep assortment of a
particular line (Best Buy or Home Depot)
Service retailer - Answer-A retailer whose product line is actually a service (Hotels,
Banks, Colleges)
Discount Store - Answer-A retail operation that sells standard merchandise at lower
prices by accepting lower margins and selling at higher volumes (Walmart)
Off-price retailer - Answer-A retailer that buys at less-than-regular wholesale prices and
sells at less than retail (TJ Maxx, Costco)
Independent off-price retailer - Answer-An off price retailer that is independently owned
and operated or a division of a larger retail corporation
Factory outlet - Answer-An off-price retailer that is independently owned and operated
by a manufacturer and normally carries the manufacturer's surplus, discontinued, or
irregular goods
Warehouse club - Answer-An off-price retailer that sells a limited selection of brand
name grocery items, appliances, clothing, and other goods at deep discounts to
members who pay annual membership fees
Franchise - Answer-A contractual association between a manufacturer, wholesaler, or
service organization (a franchisor) and independent business people (franchisees) who
buy the right to own and operate one or more units in the franchise system
Shopping center - Answer-A group of retail businesses built on a site that is planned,
developed, owned, and managed as a unit
Showrooming - Answer-The shopping practice of coming into retail store showrooms to
check out merchandise and prices but instead buying from an online-only rival,
sometimes while in the store
Wholesaling - Answer-All the activities involved in selling goods and services to those
buying for resale or business use
Wholesaler - Answer-A firm engaged primarily in wholesaling activities
Merchant wholesaler - Answer-An independently owned wholesale business that takes
title to the merchandise it handles
Broker - Answer-A wholesaler who does not take title to goods whose function is to
bring buyers and sellers together and assist in negotiation
QUESTIONS AND ANSWERS
Selective distribution - Answer-The use of more than one but fewer than all of the
intermediaries that are willing to carry the company's products. Shopping goods
Supply chain management - Answer-Managing upstream and downstream value-added
flows of materials, final goods, and related information among supplier, the company,
resellers, and final consumers
Integrated logistics management - Answer-The logistics concept that emphasizes
teamwork- both inside the company and among all the marketing channel
organizations- to maximize the performance of the entire distribution system
Retailing - Answer-All the activities involved in selling goods or services directly to final
consumers for their personal, non-business use
Retailer - Answer-A business whose sales come primarily from retailing
Shopper marketing - Answer-Focusing the entire marketing process on turning
shoppers into buyers as the approach the point of sale, whether during in-store, online,
or mobile shopping
Omni-channel retailing - Answer-Creating a seamless cross-channel buying experience
that integrates in-store, online, and mobile shopping
Specialty store - Answer-A retail store that carries a narrow product line with a deep
assortment within that line (REI, Sunglasses Hut)
Department store - Answer-A retail store that carries a wide variety of product lines,
each operated as a separate department managed by specialist buyers or
merchandisers (Macy's)
Supermarket - Answer-A large, low-cost, low-margin, high-volume, self-service store
that carries a wide variety or grocery and household products (Kroger)
Convenience store - Answer-A small store located near a residential area, that is open
long hours seven days a week and carries a limited line of high-turnover convenience
goods (711)
Superstore - Answer-A store much larger than a regular supermarket that offers a large
assortment of routinely purchased food products, non-food items, and services
(Walmart Superstore)
, Category killer - Answer-A giant specialty store that carrie a very deep assortment of a
particular line (Best Buy or Home Depot)
Service retailer - Answer-A retailer whose product line is actually a service (Hotels,
Banks, Colleges)
Discount Store - Answer-A retail operation that sells standard merchandise at lower
prices by accepting lower margins and selling at higher volumes (Walmart)
Off-price retailer - Answer-A retailer that buys at less-than-regular wholesale prices and
sells at less than retail (TJ Maxx, Costco)
Independent off-price retailer - Answer-An off price retailer that is independently owned
and operated or a division of a larger retail corporation
Factory outlet - Answer-An off-price retailer that is independently owned and operated
by a manufacturer and normally carries the manufacturer's surplus, discontinued, or
irregular goods
Warehouse club - Answer-An off-price retailer that sells a limited selection of brand
name grocery items, appliances, clothing, and other goods at deep discounts to
members who pay annual membership fees
Franchise - Answer-A contractual association between a manufacturer, wholesaler, or
service organization (a franchisor) and independent business people (franchisees) who
buy the right to own and operate one or more units in the franchise system
Shopping center - Answer-A group of retail businesses built on a site that is planned,
developed, owned, and managed as a unit
Showrooming - Answer-The shopping practice of coming into retail store showrooms to
check out merchandise and prices but instead buying from an online-only rival,
sometimes while in the store
Wholesaling - Answer-All the activities involved in selling goods and services to those
buying for resale or business use
Wholesaler - Answer-A firm engaged primarily in wholesaling activities
Merchant wholesaler - Answer-An independently owned wholesale business that takes
title to the merchandise it handles
Broker - Answer-A wholesaler who does not take title to goods whose function is to
bring buyers and sellers together and assist in negotiation
