Chapter 16: Retailing and Wholesaling Save Groups

What are marketing channels of distribution?

They are systems that facilitate the movement of products from producers to consumers.

What are the three types of marketing channels?

Traditional marketing channels, digital marketing channels, and vertical marketing systems.

What factors should be considered when selecting and managing marketing channels?

Factors include market characteristics, product attributes, and competitive dynamics.

What is channel conflict?

Channel conflict occurs when there are disagreements among channel members regarding goals, roles, or rewards.

How can channel conflict be managed?

It can be managed through clear communication, establishing common goals, and creating conflict resolution strategies.

What utilities do retailers provide?

Retailers provide place, possession, form, and time utilities.

How can retail outlets be classified?

They can be classified by form of ownership, level of service, and type of merchandise line.

What are the three forms of ownership in retailing?

Independent retailers, corporate chains, and contractual systems.

What are the three types of contractual vertical marketing systems?

Retailer-sponsored cooperatives, wholesaler-sponsored chains, and franchises.

What are the three levels of service in retailing?

Self-service, limited service, and full service.

What is the difference between depth and breadth of product line?

Depth refers to the variety of choices within a product category, while breadth refers to the variety of different product categories offered.

What is a hypermarket?

A hypermarket is a large store that combines a supermarket and a department store, offering a wide variety of products.

What are the types of non-store retailing?

Types include automatic vending, direct mail, television home shopping, online retailing, telemarketing, and direct selling.

What is the retail positioning matrix?

It is a tool used to determine a retailer's position based on the breadth of product line and the value added to customers.

What is everyday low pricing (EDLP)?

EDLP is a pricing strategy that offers consistently low prices rather than relying on sales or discounts.

What are current trends in retailing?

Trends include the development of retail media, growth of multichannel retailers, and increasing use of data analytics and AI.

What is multichannel retailing?

Multichannel retailing involves blending different communication and delivery channels to enhance customer shopping experiences.

What is wholesaling?

Wholesaling includes all activities involved in selling goods to those buying for resale or business use.

What are the functions of merchant wholesalers?

Functions include assortment building, bulk breaking, warehousing, transportation, financing, market information, and selling.

What distinguishes agents and brokers from wholesalers?

Agents and brokers do not take title to products and perform fewer functions than wholesalers.

What is the role of manufacturers' agents?

They work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory.

What is the significance of the Mall of America in retailing?

It exemplifies successful retailing through a diverse mix of offerings and attractions.