7 »Name u l.
MULTIPLE CHOICE. Choose the one alternative that best comp etes the statement or answers the question.
i 1) Which statement concerning retailing is correct? 1)
is the last stage in the distribution process.
CE." lawyer purchasing stat
Ch.5 Key Terms
Retail Institutions by Store Based Strategy Mix
Strategy Mix Firm's particular combination of store location, operating procedures,
goods/services offered, pricing tactics, store atmosphere and customer services, and
Ch. 9 Key Terms
Trading Area Geographic area containing the customers of a particular firm or group of firms
for specific goods or services.
Trading-Area Overlap Occurs when the trading areas of stores in diff
Ch. 10 Key Terms
Isolated Store Freestanding retail outlet located on either a highway or a street. There are no
adjacent retailers with which this type of store shares traffic.
Unplanned Business District Type of re
Ch.7 Key Terms
Identifying and Understanding Consumers
Demographics Objective, quantifiable, easily identifiable, and measurable population data.
Lifestyles Ways that individual consumers and families (households) live and spend ti
Ch. 6 Key Terms
Web, Nonstore-Based, and Other Forms of Nontraditional Retailing
Single-Channel Retailing A distribution approach whereby a retailer sells to consumers
through one retail format.
Multi-Channel Retailing Approach whe
Ch.8 Key Terms
Information Gathering and Processing in Retailing
Retail Information System (RIS) Anticipates the information needs of managers; collects,
organizes, and stores relevant data on a continuous basis; and directs the fl
Ch. 3 Key Terms
Strategic Planning in Retailing
Retail Strategy Overall plan guiding a retail firm. It influences the firm's business activities and
its response to market forces, such as competition and the economy.
Ch.4 Key Terms
Retail Institutions by Ownership
Retail Institution Basic format or structure of a business. Institutions can be classified by
ownership, store-based retail strategy mix, and nonstore-based, electronic, and nontradit
Ch. 1 Key Terms
Intro to Retailing
Retailing Business activities involved in selling goods and services to consumers for their
personal, family, or household use.
Channel of Distribution All of the businesses and people involved in
Ch. 2 Key Terms
Building and Sustaining Relationships in Retailing
Value Embodied by the activities and processes (a value chain) that provide a given level of
value for the consumer from manufacturer, wholesaler, and retailer pers