1. A(n) ________ brings buyers and sellers together and assists in negotiations.
a. broker
b. wholesaler
c. retail convergence
d. retailer
e. agent
2. Like retailers, wholesalers must ________ their target markets and ________ themselves effectively, for they cannot serve everyone.
a. position; define
b. identify; compare
c. define; position
d. franchise; discount
e. discount; franchise
3. Which type of small store carries a limited line of high-turnover convenience goods and makes most of its revenues from cigarette, beverage, and gasoline sales?
a. convenience
b. department
c. hypermarket
d. supermarket
e. chain
4. A growing number of outlet malls now feature upscale brands such as Coach, Polo Ralph Lauren, Dolce & Gabbana, and Giorgio Armani. Which of the following are most likely to protest about this trend to the manufacturers of these brands?
a. department stores
b. agents
c. factory outlets
d. membership warehouses
e. brokers