Introduction to Retailing and Channel Structures

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What is the primary role of a retailer in the supply chain?

To add value through the products or services sold to consumers

What is the ultimate connection point to the consumers in the journey of a product?

Retailer

What skills are expected to be developed by students in the retailing module?

Strategic and analytical thinking, attention to detail, and values

What is retailing's role in a supply chain?

To link manufacturers to the consumer

What is the definition of retailing based on the provided text?

A business activity that adds value through the products or services sold to the consumers for their personal or family use

Which part of the supply chain is responsible for selling products and services to consumers for personal or family use?

Retailer

What is the main reason retailers typically buy products from wholesalers and manufacturers?

To add value and provide a wide range of products to consumers

What is the main distinction of a department store?

It provides an extensive range of products within a single store

What type of retail store merges a department store and a grocery supermarket?

Hypermarket

What does vertical integration in the context of retail involve?

When a retailer performs some wholesaling and manufacturing activities

What is the main characteristic of a supermarket?

It offers self-service and sells food and household goods

What do drug stores mainly sell?

Medicines and miscellaneous articles like food and cosmetics

What is the primary characteristic of discount retailers?

They focus on selling goods at reduced prices

Which type of retail store typically offers an unusually broad range of goods or services like financial products?

Hypermarket

What is the main reason for the diversity in the retail industry?

The constitutional differences among retailers that influence their scheme and results

What does backward integration involve in the context of retail?

When wholesalers perform retailing activities

Retailing is one of the important subjects for Business Marketing Students to understand the channel and product structures conclude ______.

retailer

While a manufacturer may produce products, pass through a wholesaler, or involve transactions with brokers or agents, retailers are the ones with direct connection to the ______.

consumers

At the end of this module, it is expected that you would be equipped with the knowledge, customer service and communication skills, strategic and analytical thinking, attention to detail, and values necessary in the operation of the lodging business, which you can use once you become a skilled marketing ______.

person

Read and Understand Retailing - A business activity that adds value through the products or services sold to the consumers for their personal or family ______.

use

The retailer’s role in a supply chain The retailer is a business that sells products and services to ______ for personal or family use.

consumers

The supply chain is a set of firms that make and deliver goods and services to ______.

consumers

Retailers typically buy products from ______ and Manufacturers and resell to Consumers

Wholesalers

It is easier and cheaper for consumers to cut out the ______ and buy directly from manufacturers

middlemen

Wholesalers buy and store merchandise in large quantities from manufacturers and resell to ______

retailers

Vertical integration: when a firm performs more than one set of activities in the ______

channel

Backward integration: arises when a retailer performs some ______ and manufacturing activities

wholesaling

Forward integration: occurs when a manufacturer undertakes retailing and ______ activities

wholesaling

For example, stores vary in size, in the kinds of services provided, in selecting merchandise they carry, and in their ______ and management structures

possession

The department store's main distinction is the ability to provide an extensive range of products within a single ______

store

A large retail market that sells food and other household goods, which usually operates on a ______ basis

self-service

A hypermarket is a retail store that merges a department store and a grocery ______

supermarket

This quiz covers the fundamental concepts of retailing and channel structures in the context of business marketing. It explores the role of retailers as the direct link to consumers and the journey of products from manufacturers to consumers.

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