Exam 15: Retailing

Why is the selection of a retail location so critical to a store's success?

The newest generation of shopping centers is the:

Interactivity in the retail environment is not feasible in terms of its costs.

The buyer who heads a department in a department store is responsible for the:

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.The Genius Bar where customers can ask questions of knowledgeable personnel is an example of getting consumers involved in the retail experience,also known as _____.

M-commerce refers to the ability to:

_____ is a type of shopping available to consumers with access to the Internet.

A specialty store is not only a type of store,but also a method of retail operations.Describe the specialty store strategy.Then name two examples of specialty stores.

Stores such as Whole Foods are using Twitter and Facebook to keep customers updated on recently added items,shipments of goods that come in,and changing product details.This is an example of the inclusion of _____ within the retail buying experience.

Retailers control the six Ps of the retailing mix.The six Ps include the marketing mix plus:

Katie buys supplies for her consulting business at a retailer that stocks a limited selection of items,which are sold in bulk on a cash-and-carry basis to members only.As she browses through a huge store,she buys flour,a set of muffin pans,and a package of paper towels as well as an assortment of fresh produce.Katie is most likely shopping at a(n):

Banana Republic stores are usually built in shopping centers,but in a few cities the company chose to build a stand-alone store.Its freestanding store entices customers to shop because it:

Kmart utilizes a strategy of moderate to low prices on large quantities of products and lower levels of service to stimulate a high turnover of inventory.Kmart offers a wide variety of different product lines.Kmart is an example of a:

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.In terms of ownership,Walmart would be classified as a(n):

Fareway is a chain of retail outlets in Iowa,Minnesota,Nebraska,and Illinois markets that are described as large,departmentalized,self-service stores that specialize in wide assortments of foodstuffs and limited nonfood items.Fareway stores are:

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.Of the major types of retail operations,Apple stores are _____.

Around the world,most retailers are _____,operating one or a few stores in their community,owned by a single person or partnership and not operated as part of a larger retail institution.

A publisher of books on holiday decorating,cooking,and crafts has to find a way to dispose of its overrun and unsold end-of-season output.As a marketing consultant,you suggest the firm sell the merchandise to:

Supercenters are more than just larger versions of traditional "markets." In addition to foodstuffs,supercenters have pharmacies,dry cleaners,portrait studies,photo finishing,hair salons,and restaurants.

A(n)_____ is a continuing relationship in which an individual or business grants business rights to operate or sell a product to another individual or business.