BUAD301 Study Guide - Midterm Guide: Monopolistic Competition, Price Discrimination, Vehicle Insurance
6 Sep 2016
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Chapter 12: retailers wholesalers, and their strategy planning. Buad301 exam #3 study guide: characteristics of conventional retailers and how they try to avoid price competition, single-line or limited line stores: specialize in certain lines of related products rather than a wide assortment a. i. Many not only have a single line but also in a limited line within the broader line: main advantage of limited-line retailers is that they can satisfy some target markets better (ex 12-4) b. i. Many of these stores are small with high expenses relative to sales b. iii. They try to keep their prices up by avoiding competition on identical products: types of retailers and the nature of their offerings c. i. Expanded assortment and/or reduced margins of service c. ii. 1. Supermarkets, discount houses, mass-merchandisers, club stores, single-line mass retailers c. iii. Added convenience and higher than conventional margins, usually reduced assortment c. iii. 1. Expanded assortment, reduced margins, and more information c. iv. 1.
