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Exam 11: Buying Strategies

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Question 51

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Trademarks,copyrights,and patents are all under the general umbrella of ______________________________.

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Question 52

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Why would a buyer consider utilizing a retail exchange if he is already a successful buyer?

A) Exchanges can increase his efficiency by saving time and money
B) Vendors are more likely to offer lower prices if a buyer uses the Internet
C) Exchanges are able to bring better merchandise to the negotiating table
D) The traditional trade show is obsolete, leaving him no option
E) Vendors are no longer visiting the buyer's office

F) C) and D)
G) B) and D)

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Question 53

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Describe the four levels of commitment in the development of a strategic relationship.

What can a successful private label do for a retailer?

Why do manufacturer brands often generate lower gross margins for retailers than do private- label brands?

Private-label options may be grouped into four categories: generic,premium,exclusive,and parallel.Compare and contrast their differences.

Why are some Canadian retailers shifting suppliers from Asia and Europe to nearby Central American and Caribbean countries,or seeking products made in Canada?

Which of the following is an important retail exchange function?

Why is it important for retailers to develop and maintain relationships with multiple,and sometimes competing suppliers?

Describe resident buying offices and their activities.

Which of the following statements about tariffs is true?

The branding strategy that targets the price-sensitive segment by offering no-frills products at discount prices is known as a(n)________________ branding.

What needs to occur for a developing relationship to move from the expansion stage to the commitment stage and become a strategic relationship?

A(n) _____________ is a tax placed by a government upon imports.

What benefits does a retailer receive from buying from vendors of manufacturer brands?

Sears sells men's casual wear under the private brand name Nevada.It also carries sportswear by Arrow,Adidas,Dockers,Point Zero,and other manufacturer brands,but Nevada is priced slightly below the manufacturer brands.Sears makes no attempt to trade off the manufacturer brand equity,however,consumers perceive the Nevada to be the equivalent of the manufacturer brand.With the Nevada brand,Sears is using __________ branding.

Eve worked as a senior buyer for jewellery.On a recent visit to a trade show,she noticed a new vendor selling unique earrings,necklaces,and bracelets with small gemstones depressed into the gold.She had seen such pieces in trade magazines before,but ignored them because of the exorbitant price.She thought her affluent customers would appreciate the look,so she decided to make a smaller buy than usual,and try the jewellery out in only a few urban markets.Which phase best describes Eve's level of commitment to a retailer-vendor relationship?

_____________________ are plants in Mexico that make goods and parts for export.

By selling ________________ brands,a retailer can help store image,increase traffic flow,and reduce promotional expenses.

Paul ran a chain of discount sporting goods stores which struggled for years when Walmart opened in the surrounding area.Walmart carried the same brands as Paul's shops,but Paul couldn't compete with the giant's pricing,so merchandise in his shops didn't sell.Which of the following would have been Paul's best chance for surviving?