Exam 13: Retailing

Prices are usually higher in convenience stores than in supermarkets because convenience stores offer:

_____ 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.

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

Define retailing and list the factors that are used to classify retail operations.

A typical discount store competes by carrying a limited line of high-turnover,high-margin goods.

Apple Stores 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:

Which U.S.retailer is the number one sales volume retailer in the world?

When retailers decide on location,they have two basic site options: the freestanding store and the shopping center.Briefly describe these location alternatives and discuss the advantages and disadvantages of each location alternative.

When supermarkets offer a wide variety of nontraditional goods and services under one roof,they are engaged in:

Many technologically advanced retailers are using a technique called _____ to analyze the huge amounts of data collected through their point-of-purchase scanning equipment that will enable them to better meet the needs of customers.

Diaz 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.In terms of ownership,Diaz's coffee shop would be classified as a(n):

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

The Cedar Store carries a full line of cedar swings,gliders,garden benches,and tables.All of its products can be purchased through its Web site.The site has done well since the Cedar Store's products do not need to be touched or smelled before purchase.The Cedar Store is engaging in:

Retailers such as Target and JCPenney are responding to consumer needs by changing product mixes,hours of operation,locations,and prices.These stores are changing aspects of their:

When Irvin went into Lowe's to buy his wife a small tool set she said she wanted,the sales clerk suggested a larger set with a tool kit on wheels that included a router and circular saw.In this example,the sales clerk engaged in:

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

The Halloween Super Store is only open from September until November,usually in an otherwise vacant store.This is an example of a _____.

Discuss three new developments in retailing.

Specialty stores such as Best Buy,Babies R Us,and Bed,Bath,and Beyond are often called category killers because:

Domino's pizza,Hyatt Corporation,and Wendy's are all examples of _____ because the franchisee buys the right to use the franchisor's approach to doing business.