Exam 13: Retailing

Retailing opportunities can take place without customers shopping at a store.Name and briefly discuss four forms of nonstore retailing.

Wal-Mart Wal-Mart,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 Wal-Mart'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 Wal-Mart.Many Wal-Mart stores have a full line of groceries and general merchandise with a wide range of services,such as a pharmacy,portrait studio,optical shop,and bank.Wal-Mart is an example of which type of discount store?

Which type of retail store would typically have the highest labor costs?

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

The newest generation of shopping centers is:

_____ are full-line discount,off-price retailers who entice the low- and fixed-income customers who live near the stores.

Compare and contrast trading up and suggestive selling.

Direct retailers' sales have suffered as women have entered the workforce.

A common practice among most retailers that seeks to broaden customers' original purchases with related items is called:

Wal-Mart Wal-Mart,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 Wal-Mart'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 Wal-Mart.Most Wal-Mart stores are not located in shopping centers but rather are buildings all by themselves.This type of location is referred to as a:

Housing several departments under one roof,a _____ carries a wide variety of shopping and specialty goods and provides a high level of service.

Which of the following statements about restaurants is true?

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.

Giant Eagle is a chain of retail outlets in Ohio,West Virginia,Maryland,and Pennsylvania markets that are described as large,departmentalized,self-service stores that specialize in wide assortments of foodstuffs and limited nonfood items.Giant Eagle stores are:

A recent pricing trend among retailers is EDLP,which stands for:

Which of the following statements about specialty stores is true?

Wal-Mart Wal-Mart,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 Wal-Mart'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 Wal-Mart.In terms of ownership,Wal-Mart would be classified as a(n):

Amy received a phone call last night during supper.The caller wanted her to attend a meeting to learn about timeshares.Since Amy had never thought of purchasing this type of product before she received the call,this is obviously an example of _____ telemarketing.

Safeway,Avanza (for the Hispanic market),Publix,and other supermarket chains offer a variety of nontraditional goods and services such as video rental,flower shops,dry cleaning,and banking.This practice is called:

Color can be used by retailers to create a mood or focus customer attention on a particular product.