BUAD301 Midterm: buad301-exam#3

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Business Administration

1. Characteristics of planning a retailers strategy a. Product i. Product selection ii. After sale service b. Place i. Number and location of stores ii. Shopping atmosphere iii. Size, layout, design c. Price i. Credit cards ii. Discount policies iii. Charge for delivery iv. Frequency and level of sales d. Promotion i. Advertising ii. Publicity iii. Salespeople iv. Helpful information 2. Characteristics of the evolution of merchandising retailers and how some retailers focus on added convenience (X2) a. Evolution of Merch Retailers i. Supermarkets ii. Discount houses after WWII offered hard goods at discounted prices iii. Massmerchandisers large self service stores with many departments that emphasize soft goods (housewares, clothing and fabrics) (ex WalmartTarget) iv. Supercentershypermarkets food and drug and whatever the consumer purchases routinely v. Warehouse club b. Scrambled merchandising selling any product line they think theyll sell profitably c. Added convenience i. Convenience (food) stores convenience not assortment ii. Automatic vending iii. Door to door selling 3. Characteristics of retailing on the internet a. Low operating costs b. Easy to compare prices c. Multichannel shoppers 4. Characteristics of how agents are strong on selling *** a. Agent wholesalers do not own the products they sell b. Normally specialize by customer type and product c. Manufacturers agent sells several products for noncompeting companies d. Exportimport agent
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