Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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Chapter 14.2, Problem 14.2AQ
Summary Introduction
To determine: The convenience goods an individual can buy in hurry and the place where an individual will find those goods.
Introduction:
The goods that consumer purchase within small intervals and with minimum efforts is convenience goods and services. For example, candy, gum, milk and any other thing that requires minimum efforts.
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Chapter 14 Solutions
Understanding Business
Ch. 14.1 - Prob. 14.1AQCh. 14.2 - Prob. 14.2AQCh. 14.2 - Prob. 14.2BQCh. 14.2 - Prob. 1TPCh. 14.2 - Prob. 2TPCh. 14.2 - Prob. 3TPCh. 14.2 - Prob. 4TPCh. 14.3 - Prob. 14.3AQCh. 14.3 - Prob. 1MEDCh. 14.4 - Prob. 5TP
Ch. 14.4 - Prob. 6TPCh. 14.4 - Prob. 7TPCh. 14.4 - Prob. 8TPCh. 14.5 - Prob. 14.5AQCh. 14.6 - Prob. 9TPCh. 14.6 - Prob. 10TPCh. 14.6 - Prob. 11TPCh. 14.6 - Prob. 12TPCh. 14.7 - Prob. 14.7AQCh. 14.7 - Prob. 14.7BQCh. 14.7 - Prob. 13TPCh. 14.7 - Prob. 14TPCh. 14.7 - Prob. 15TPCh. 14 - Prob. 1CECh. 14 - Prob. 3CECh. 14 - Prob. 4CECh. 14 - Prob. 1CTCh. 14 - Prob. 2CTCh. 14 - Prob. 3CTCh. 14 - Prob. 4CTCh. 14 - Prob. 1DCSCh. 14 - Prob. 2DCSCh. 14 - Prob. 3DCSCh. 14 - Prob. 4DCSCh. 14 - Prob. 1PPTCh. 14 - Prob. 2PPTCh. 14 - Prob. 3PPTCh. 14 - Prob. 4PPTCh. 14 - Prob. 1VCCh. 14 - Prob. 2VCCh. 14 - Prob. 3VC
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- Is it more difficult to secure a job in a store-based retailer in view of the tremendous growth of online retailing? What sort of training and development program would you attend to sharpen your career in retailing?arrow_forwardWhen shopping for a new car, which of the following should be the first step in the buying process? Calculate how much you can afford. Shop for a loan. Determine your transportation need. Obtain an estimate for auto insurance.arrow_forwardOnline computer shopping at websites makes it possible for individual consumers to get direct information from hundreds of companies they would not otherwise know about. Consumers can place an order for a purchase that is then shipped to them directly. Or, they can do what is known as “ship to store” from the online site. With the growth of these services, to what degree will the need for retailers and wholesalers be eliminated or greatly reduced? Explain your answer, and consider the marketing functions that are involved in electronic purchases and who performs them. What will the businesses’ need to be concerned with in the future?arrow_forward
- In what ways are traditional specialty stores andoff-price retailers similar? How do they differ?arrow_forwardJust 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…arrow_forward5. Are retailing and logistics concerned with product availability? Why or why not?arrow_forward
- 8. Does retailing involve the selling of goods and services to a consumer? Why or why not?arrow_forwardJust 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…arrow_forwardSome high-fashion retailers, notably H&M and Zara, sell what some call“disposable fashion”—apparel priced so reasonably low that it can bedisposed of after just a few wearings. Here is your dilemma: You havean important job interview and need a new suit. You can buy the suit atone of these stores for $129 or at Brooks Brothers for $500. Of course,the Brooks Brothers suit is of higher quality and will therefore lastlonger. How would you use the two value-based approaches describedin this chapter to determine which suit to buy?arrow_forward
- I am at the solution for this problem located here: https://www.bartleby.com/questions-and-answers/during-the-morning-hours-at-a-catalog-sales-department-telephone-calls-come-in-at-the-rate-poisson-o/84d565ca-a1df-41b5-9faf-34fcebd84805 I just don't understand how they arrive with the solution below: 0.3903 = 1-P / 0.2963037 1-P = 0.1156. I just don't understand the math here. Any help in understanding will be extremely appreciate>arrow_forwardExamine the experience of shopping online versus shopping in a traditional environment. Imagine that you have decided to purchase a digital camera (or any other item of your choosing). First, shop for the camera in a traditional manner. Describe how you would do so (for example, how you would gather the necessary information you would need to choose a particular item, what stores you would visit, how long it would take, prices, etc.). Next, shop for the item on the Web or via a mobile app. Compare and contrast your experiences. What were the advantages and disadvantages of each? Which did you prefer and why?arrow_forwardWhy do customers have privacy concerns about the frequent-shopper programs that supermarkets offer, and what can supermarkets do to minimize these concerns?arrow_forward
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