Exam 15: Retailing

Maggie Moo's has decided that consumers will drive out of their way for the store's yummy ice cream offerings.The owner needs to keep his overhead costs (such as rent)low and wants to avoid locating near competitors.For a location,Maggie Moo's should open in a:

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:

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

Retail establishments are generally classified according to all of the following EXCEPT:

Which of the following statements about nonstore retailing is true?

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.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 _____.

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

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.

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

Which of the following statements about restaurants is true?

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.

_____ refers to shopping without visiting a store and is currently growing faster than in-store shopping because of the consumer demand for convenience.

The manufacturer of Cutco knives uses students as salespeople. The salespeople go into customers' homes and demonstrate the product and the sales transactions usually occur in a home setting.This form of nonstore retailing is called:

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:

Pop-Up shops are:

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.

Susan Adams makes children's clothing.She is also the sales representatives and sets up parties and fashion shows at homes of mothers to demonstrate the quality and value of her clothing.Susan is using:

Another name for an anchor store is a _____.

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

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.If Diaz wanted to grow his business and granted another owner the rights to use his format and approach to doing business,he would be involved in: