Exam 15: Retailing

Which of the following types of stores has a high gross margin,a narrow product assortment,and a high level of service?

Compare and contrast trading up and suggestive selling.

One of the new developments in retailing is m-commerce.The m- in m-commerce stands for:

The first task of developing a retail strategy is to:

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):

A _____ is an off-price retailer that is owned and operated by a manufacturer and carries one line of merchandise--its own.

The Mad Stencilist has decided to demonstrate how to use its products to create custom gift tags on a local cable television channel and encourage shoppers to call a toll-free number to purchase the merchandise with a credit card.This form of retailing is called a(n):

As a general rule of thumb,a retailer that has a high gross margin will have:

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:

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

Kroger is the second largest supermarket chain in the U.S.Which of the following is the most likely reason why Kroger supermarkets sell all types of foodstuffs as well as nonfood products including a wide range of eyewear and accessories?

The overall impression conveyed by a store's physical layout,decor,and surroundings is referred to as the store's:

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

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

All of the following are factors in creating a store's atmosphere EXCEPT:

Emily has just opened a health food store that sells organic foods,herbal supplements,and environmentally-friendly products. Because it will be a specialty store,she should have a broad product assortment with moderately low prices.

A(n)_____ is a continuing relationship in which an individual or business grants business rights to operate or sell a product to another individual or business.

Katie buys supplies for her consulting business at a retailer that stocks a limited selection of items,which are sold in bulk on a cash-and-carry basis to members only.As she browses through a huge store,she buys flour,a set of muffin pans,and a package of paper towels as well as an assortment of fresh produce.Katie is most likely shopping at a(n):

A specialty store is considering locating a retail store in a regional shopping mall.Which of the following is NOT a likely benefit associated with a locating in a mall?

At the American Girl store in Chicago,dolls can be purchased and girls can then go to the American Girl café or American Girl Theatre,and even have birthday parties.This is an example of using _____.