The wheel of retailing helps explain the evolution of firms that enter a market on a shoestring budget and gain customers by offering lower prices. It suggests that once a customer base is established, the retailer begins offering higher-end products, more upscale facilities, and better service. ) a) True () b) False
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- The wheel of retailing mentions three phases for retail life cycle. The retailer attempts to up market location, offer exotic services, and elaborate facilities in_____stage. A.Vulnerability B.Trading up C.Entry D.MaturityJust ANswer the Number 3! Here is the answer for the number 1. Retailing is the process of part of the supply chain management in which a retailer deals or interacts directly with the customers. In retailing there can be a brick and mortar store or an online store through which the products and services can be offered to the customers. Retailing business has some major benefits which are as follows - Convenience for customers in terms of time, place, stocks, etc. Encourages impulsive purchases More secure than online shopping Greater sales potential Promotes competitive environment Deciding retail prices A retailer such as a grocer feels entitled to decide on the retail price of the products he sells rather than obey a supplier's SRPS as a retailer bears expenses and efforts in the form of capital, manpower, time and energy which sometimes is not justified in the margin given by the company or in the SRPS. A retailer is the last chain in supply management and he has a…Just Answer the Number 2! Here is the answer for the number 1. Retailing is the process of part of the supply chain management in which a retailer deals or interacts directly with the customers. In retailing there can be a brick and mortar store or an online store through which the products and services can be offered to the customers. Retailing business has some major benefits which are as follows - Convenience for customers in terms of time, place, stocks, etc. Encourages impulsive purchases More secure than online shopping Greater sales potential Promotes competitive environment Deciding retail prices A retailer such as a grocer feels entitled to decide on the retail price of the products he sells rather than obey a supplier's SRPS as a retailer bears expenses and efforts in the form of capital, manpower, time and energy which sometimes is not justified in the margin given by the company or in the SRPS. A retailer is the last chain in supply management and he has a…
- Which of these describes a retail store which uses a medium-end strategy? a. Premium items b. Moderate pricing c. High price d. Cheap merchandiseDollar discount stores and closeout chains are both types of off-price retailers. A True B FalseExplain what a wholesaler does. How does this benefit the retailer? How does this benefit the manufacture?
- Which of these describes a retail store which uses a low-end strategy? a. High price b. Well-known brands c. Premium items d. Cheap merchandise1.What is your favorite consumer goods retailer? Discuss the criteria you have used in making your selection. What can a competing firm do to lure you away from your favorite firm? Apply your answer to retailing in general. 3. Define the term "total retail experience." Then describe a recent retail situation in which your expectations were surpassed and state why.I need help with these two questions In the general merchandise retailing category, off-price retailers A.sell high volumes of merchandise, offer limited service, and charge lower prices B.offer a wide variety of merchandise and limited depth C.sell brand-name and designer merchandise below regular retail D.sell primarily food products The three main retail formats include all of the following except A.general merchandise retailing B.food retailing C.discount retailing D.non-store retailing
- Manufacturers use wholesalers and retailers because they have no other choice. they do not cost much. they do not create value for customers through convenience and cost savings. wholesalers control retailers. none of the above.Store brands are created and manufactured by the retailers. Select one: a. True. O b. False.Explain the concept of "atmospherics" in the field of retailing. Do you believe it has been valid in attracting you to enter a store at different stages throughout your life? Give an example where it has been or has not been effective for you. Describe where a major retail chain which has traditional brick and mortar retailing outlets has managed to keep the "tone" of the atmospherics the same in their E-Commerce retail outlet.