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Exam 15: Retailing

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Question 61

Multiple Choice

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Anchor stores:

A) are the stores within the mall that sell services rather than products
B) are often large department stores that are located at opposite ends of a mall to create a heavy pedestrian traffic flow
C) usually specialize in high-priced items like furniture
D) is the generic name given to supermarkets that are located within shopping malls
E) is a term for retail stores that "drop off" to freestanding locations

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Question 62

True/False

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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.

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Question 63

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Providing great customer service is one of the most challenging elements in the retail mix because customer expectations for service are so varied.

Flash Foods is the name of a chain of small stores,which carry high-turnover products such as lip balm,milk,soda,beer,bread,and aspirin.Flash Foods stores are open all day every day and would best be classified as convenience stores.

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

A _____ is a retail store that stocks pharmacy-related products and services as its main draw.

Another name for an anchor store is a:

A retail store can be classified according to its:

Compare and contrast trading up and suggestive selling.

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

_____ refers to the number of different brands offered within each product assortment.

Housing several departments under one roof,a _____ carries a wide variety of shopping and specialty goods,including apparel,cosmetics,housewares,electronics,and sometimes furniture.

_____ refers to the techniques used to get consumers to buy from their home.Those techniques include direct mail,catalogs and mail order,telemarketing,and electronic retailing.

Prices are usually higher in convenience stores than in supermarkets because convenience stores offer:

Build-a-Bear is a retailer where children can design and assemble a stuffed animal from shelves full of parts.Each child starts by deciding what animal they want.Then,the child moves to a place where the stuffing is added.Finally,the child moves to the area where the last accessories are added.Build-A-Bear is part of a recent trend in retailing referred to as::

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

A store's atmosphere is the overall impression conveyed by a store's physical layout,decor,and surroundings.

A common practice among most retailers that seeks to broaden customers' original purchases with related items is called:

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.In terms of ownership,Diaz's coffee shop would be classified as a(n) :

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.