Exam 13: Retailing

When JCPenney announced it would open a 97,000-plus square foot anchor store in the new West Grand Promenade,it meant that JCPenney would be:

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?

Which of the following groups is most likely to be the target market for extreme-value retailers?

Electronic retailing includes the 24 hour,shop-at-home television networks and online retailing.

Rick owns and operates his own UPS shipping store.He has licensed the right to use UPS's business systems.Rick's shipping store is a:

Another name for an anchor store is a _____.

Whenever a customer opens an account at First Southern National Bank,a teller or account representative asks the customer whether she needs a CD,online banking or other services.In other words,the account representative engages in:

Pop-Up shops are:

Discount stores are retail chains that compete on the basis of low prices,high turnover,and high volume.Name and briefly describe four types of discounters,and give an example of each type.

The number of different varieties of fishing lures carried by the Angler's Store refers to the store's:

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.The smell of fresh coffee,the fact it is made where drinkers can watch the process,and the comfortable chairs all are used to create the store's:

Each department in a department store is usually headed by a _____ who selects the merchandise mix for the department and may also choose the promotional devices and personnel for that department.

Discount stores:

Define independent retailer,chain store,and franchise and give an example of each.

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.Apple has the Genius Bar,the backlit signs,the Apple products themselves,the modern metallic walls and spiral staircases in its stores.These are all work together to convey the store's _____.

A retail store can be classified according to its:

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

A retailing establishment that sells a wide variety of shopping and specialty goods,including apparel,cosmetics,housewares,and electronics would be classified as a department store.

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.Which type of pricing strategy describes Wal-Mart's commitment to offer consistently lower prices?

The party in a franchise relationship that is an individual or business that is granted the right to sell another party's product is called the: