Exam 15: Retailing

At the American Girl store in Chicago,dolls can be purchased and girls can then go to the American Girl Café or American Girl Theatre,and even have birthday parties.This is an example of using:

John Diaz immigrated to Tallahassee from Cuba in the 1980s.He set up a coffee shop called Diaz in a small upper-middle-class neighborhood.It rapidly became popular because of the wonderful coffee it brewed.Soon Diaz was selling the finest coffees from around the world,plus coffee-making necessities such as grinders and brewers.Within ten years,Diaz was operating a lucrative mail-order business in addition to his coffee shop. Upon entering the shop,the first thing the customer sees is a countertop crowded with all of the machinery needed for making a perfect cup of coffee.Marble-topped tables are set in cozy nooks with overstuffed chairs.Bookshelves on one wall hold books about coffee for patrons to read while they sip.The smell is intoxicating to a real coffee lover.Coffee drinkers can take home a pound when they leave.The store carries all types of coffee from $300 per pound Kopi Luwak from Sumatra to Brazilian Cerrado for $8 a pound. -Refer to Diaz.Customers of Diaz's coffee shop can purchase coffee,coffee makers,mugs,chocolate,music CDs,and all sorts of unique gift items.Diaz is practicing:

Apple Inc.opened its first Apple Store in 2001 and currently has hundreds of stores spanning several countries.Many of the Apple Stores are inside malls,but Apple also has several free standing stores they call their flagship stores,with each looking a little different on the outside.These are located in New York City,Boston,Los Angeles,Chicago,San Francisco,Montreal,Tokyo,and Osaka. The store in New York City is a glass cube with a glass cylindrical elevator and spiral staircase that leads to an underground store.Inside they have long tables displaying products ranging from the iMac,MacBook Air,iPods,printers,cameras,and other accessories.All these products are accessible to customers who can try them out and ask various questions of informed associates.The walls are mostly metallic and the signs are all backlit. All stores have a Genius Bar where a customer can receive technical advice or set up service and repair for their products.To address the needs of the many iPod users,some stores,such as the New York store,have set up a separate iPod Bar where customers can get their own technical assistance.They also have an iMac station for kids who want to try out games and learning products and a theatre for workshops,product training sessions and special presentations. Apple introduced the handheld Easy Pay system where customers don't have to wait in line to purchase products and with a simple click of a paperless,handheld credit card scanner,the employee brings the cash register to the customer.Items can be rung up anywhere on the show room floor.Apple plans to open several more stores in the years to come. Apple also has its online store.At its web site a customer can order any Mac or iPod product,plus a large variety of accessories.In addition to its product offerings,a customer can watch a demonstration of how products work or check out the latest Mac ads or news. -Refer to Apple Stores.Some shoppers purposely plan to visit the Apple store on Fifth Avenue in New York City,which is characteristic of:

Emily has just opened a health food store that sells organic foods,herbal supplements,and environmentally-friendly products.Because it will be a specialty store,she should have a broad product assortment with moderately low prices.

Which type of discount store offers consumers very limited service and carries a broad assortment of nationally branded "hard goods," such as housewares,toys,automotive parts,clothing,bedding,and maybe a limited line of nonperishable food items?

_____ are single-line stores that offer a nearly complete selection of one line of merchandise and use self-service,discount prices,high volume,and high turnover of merchandise to their advantage.

Compare and contrast restaurants with retailing establishments and service establishments.

__Which of the following statements about catalog and mail order sales is CORRECT?

Jim's Bike Shop sells bicycles for the serious racer to the casual cyclist.Jim's also sells biking gear and clothing.Jim is the sole owner of the store,so in terms of ownership,his store would be classified as a(n):

Walmart,the world's largest retailer by revenue,announced that it will get back to its founder's roots by initiating more price cuts.Critics claimed that the giant was getting away from its original focus because it posted relatively high gross profit margins.CEO Mike Duke assuaged critics by saying Walmart's $400 billion in sales will become even larger because the price cuts will attract more customers and it will lower its costs of goods sold. -Refer to Walmart.Walmart's gross margin is the:

What is the first task of developing a retail strategy? What is involved in this task?

Which of the following statements about a retailer's promotion strategy is true?

Flash Foods is the name of a chain of convenience stores with self-service gas pumps.What do you know about the convenience stores?

Independent retailer shops are stores owned and operated as a group by a single organization.

Defining franchising and discuss the two basic forms of franchising.Give an example of each form.

Large retailers such as Target and Walmart and sellers of shopping goods such as automobiles and furniture often use _____ for their locations.

Maurice was watching TV one evening when he saw a commercial for Eggies,a plastic gadget that cooks hardboiled eggs without a shell.According to the commercial,all you have to do is crack and pour in your egg into the plastic "Eggie," boil it right on your stovetop,then just twist it open for a perfect hardboiled egg.Maurice thought Eggies looked like a useful product,so when the 800-number popped up on his screen,he called right away and ordered a set.This is an example of _____ telemarketing.

Calendar Club stores are open only from November until January,usually in an otherwise vacant store.This is an example of a:

Subway,Denny's,and Circle K are examples of _____ because the franchisee buys the right to use the franchisor's approach to doing business.

When you walk into an Apple store you are immediately greeted by a clerk.The store is simply designed with layouts where you can experience every product from iMacs,iPhones,a variety of iPods,cameras,printers,and other accessories.If you have questions about the products you can visit the Genius Bar.There is a place where kids can play and experience Mac to by sitting on big round cushy chairs.This description is of the store's: