Exam 13: Retailing

SCENARIOS 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.What pricing strategy would you expect to find the being used at Diaz?

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

Specialty stores such as Office Depot,Bed Bath & Beyond,and Staples are often called category killers because:

Justin Nilssen and Joe Metzger disagree about what it means to be a specialty store.Nilssen says,"A specialty store is just one type of store." Metzger says,"It's more than that--it's also a method of retailing,and involves specializing in a type of merchandise,too." Metzger is correct.

The primary goal of the retail promotion strategy is to:

Esther Jui has just opened a specialty store that will sell Asian wedding gowns to Asian-Americans who want a traditional wedding.Because it will be a specialty store,she should have a broad product assortment with moderately low prices.

Using what you have learned about retailing,which type of retail store would typically have the highest labor costs?

SCENARIOS 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 Wawa.Who buys most of the merchandise sold in the individual stores?

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

Another name for an anchor store is a________.

Wright wants to open a store to sell movie memorabilia and is considering locating it in a regional shopping mall.Before opening his new store,he needs to understand:

For the past few years,adding interactivity in the retail environment has been one of the most popular strategies in retailing.

SCENARIOS 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 type of merchandise carried by Diaz is deep but with a narrow assortment.The store would most likely be classified as a:

_____ is a low-profile,yet important,form of retailing in which consumers get products out of automated machines,and it accounts for $21 billion worth of sales each year in the United States.

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:

The Faux Store is a chain of stores selling an assortment of products needed to create custom decorator painting effects such as crackling,aging,and marble textures.Its products have high gross margins,and its salespeople are willing and able to answer any how-to questions its customers might ask.The store would most likely be classified as a:

A retailer in Peoria,Illinois,is licensed to sell Snapper lawn mowers.This retailer is a:

The six Ps of the retailing mix are product,place,price,promotion,personnel,and planning.

When establishing a type of site location,_____ are often used by large retailers such as Target or Kmart,and sellers of shopping goods such as automobiles and furniture.

A manufacturer wants to introduce a line of hand-smocked children's clothing in conjunction with the growing number of professional women who are now having babies.The least expensive of these outfits will be $75.Which of the following types of stores would most likely support an effective product launch?