Exam 15: Retailing

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.

Every October through December,Hickory Farms opens a temporary store in many malls to sell products during the Christmas season without the long-term commitment of a more expensive retail lease.This is an example of a pop-up shop.

Which of the following retailers probably offers the LOWEST level of service?

Rochelle owns and operates a McDonald's restaurant.She has licensed the right to use McDonald's name,logo,and products.Rochelle's restaurant is an example of a(n):

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

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 freestanding stores,which 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 customers 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 theater 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.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.In terms of ownership,which of the following best describes Apple stores?

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

Factory outlet stores are generally the same as warehouse clubs,except that a factory outlet store carries only the merchandise of the manufacturer that owns it.

The two types of franchising are target market franchising and geographic franchising.

_____ carry a limited line of high-turnover,high-priced goods and resemble miniature supermarkets.These self-service stores are typically located near residential areas and are open long hours,seven days a week.

Specialty discount stores differ from other discount stores.While most other discounters offer a predictable assortment of merchandise,the styles and brands offered at specialty discount stores change frequently because they buy only what is currently available at a good deal.

Nordstrom has a concentrated product assortment,carrying narrow product lines but in considerable depth.

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

Jennifer owns a greeting card store where she also sells women's purses,Crocs shoes for the whole family,Jibbitz charms,cell phone skins,Sandy Lion stickers,Yankee candles,Godiva chocolates,Precious Memories figurines,beaded jewelry,and stuffed animals.Jennifer uses multibrand merchandising.

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

Define store atmosphere and name and briefly describe the major determinants of store atmosphere.

_____ sell a limited selection of brand name appliances,household items,and groceries,usually in bulk on a cash-and-carry basis to members only.

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):

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 products such as 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:

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 freestanding stores,which 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 customers 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 theater 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.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: