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342) Name the four utilities offered by retailers and identify a retailer that provides that utility.
343) What is the value of retailing for consumers and the economy?
344) Explain the global impact of retailing.
345) Briefly describe the three ways retail outlets can be classified.
346) Briefly describe the advantages of being an independent retailer and the benefits an
independent retailer can offer customers.
347) Explain the relationship between a franchisee and a franchisor.
348) Briefly describe the two general types of franchises.
349) Briefly describe the three levels of service offered by retail outlets.
350) Explain the difference between breadth of line and depth of line. Be sure to include the
definition of scrambled merchandising in your explanation.
351) Explain the difference between a hypermarket and a supercenter.
352) Why are vending machine prices often higher than those in a retail store?
353) Explain why direct mail and catalogs are an attractive form of retailing.
354) Explain the dimensions of the retail positioning matrix, and give an example of a store that
would be located in each quadrant of the matrix.
355) What is the retailing mix?
356) Explain the difference between a markup, an original markup, and a maintained markup.
357) Explain what a markdown is and its timing (i.e., when a retailer uses it).
358) What is off-price retailing? Identify and give an example of the three variations of off-price
retailing.
359) List the five store locations or settings. How has the location of stores changed over the
years?
360) What is category management and when is it used?
361) Explain how the wheel of retailing works.
362) Describe the retail life cycle.
363) What future changes may be expected in retailing?
364) Explain the difference between full-service and limited-service merchant wholesalers. List
and describe the types of wholesalers that belong in each category.
365) Identify and describe the functions of agents and brokers.
