Question 1

Limited-line stores are identified by:

Accepted Answer

Limited-line stores are typically identified by the name of the primary product line they carry, focusing on a specific category of merchandise.

Question 2

Gregory's House of Trains only sells Lionel trains and accessories. Gregory sells Lionel at the manufacturers' suggested prices. He emphasizes customer service. What type of a retail store is Gregory's House of Trains?

Accepted Answer

Gregory's House of Trains is a specialty store because it focuses on a specific product category, in this case, Lionel trains and accessories, and offers specialized knowledge and customer service in that area.

Question 3

Hootin Annies sells dolls, doll kits, patterns for dolls clothes all in the primitive style. This is all the store sells, it sells these at manufacturers' suggested retail prices. After you make a selection, the customer service oriented salespeople at Hootin Annies will help you create your doll's personality by suggesting outfits or showing you how to make your own. What type of retailer is Hootin Annies?

Accepted Answer

Hootin Annies is a specialty store because it focuses on a specific product category, in this case, dolls and related items, offering a deep assortment within that category along with specialized customer service.

Question 4

Specialty stores:

Accepted Answer

Specialty stores focus on a specific product category, offering a deep assortment within that category, typically provide at least standard customer service, often adhere to manufacturers' suggested pricing to maintain brand integrity, and rely heavily on attracting and satisfying customers to ensure their survival.

Question 5

Greene's Fishing Center is a small, independent bait-and-tackle shop on Lake Sinclair. It caters to people who fly fish and sells the blueback herring used for fly-fishing. A retail outlet of Bass Pro Shop is only ten miles away, and it carries everything any type of gear a fishing enthusiast would want to buy, but it does not offer the extensive customer service found at Greene's. Greene's would be categorized as a(n) _____, and Bass Pro Shop would be categorized as a(n) _____.

Accepted Answer

Greene's Fishing Center, focusing on a specific segment (fly fishing) and offering specialized products and services, fits the definition of a specialty store. Bass Pro Shop, with its wide range of products for all types of fishing enthusiasts and its potential to dominate the market, can be considered a category-killer store.

Question 6

Duluth Outdoors sells all types of rods and reels for the sport of fishing at or near manufacturer suggested retail prices. As a way to differentiate the store, its owner repairs and fine-tunes all brands of rods and reels. Duluth Outdoors is an example of a(n):

Accepted Answer

Duluth Outdoors focuses on a specific product category, which is rods and reels for fishing, and offers specialized services related to that category, making it a specialty store.

Question 7

In terms of the category of products, specialty stores stock:

Accepted Answer

The answer of In terms of the category of products,...

Question 8

Specialty stores:

Accepted Answer

The answer of Specialty stores:
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Question 9

_____ position themselves below discount stores with lower prices on selected product lines. They typically concentrate on apparel and shoes; have a narrow, deep product assortment; emphasize their lower prices; and offer few customer services.

Accepted Answer

Off-price retailers specialize in offering lower prices on selected product lines, focusing on apparel and shoes with a narrow, deep product assortment, emphasizing their lower prices, and providing few customer services, distinguishing them from discount stores.

Question 10

Nicole wants a Dooney & Burke purse she saw advertised in her local newspaper for $260.00. If she visits a(n) _____, she is likely to find the purse or one similar to it at a greatly reduced price.

Accepted Answer

Off-price retailers specialize in selling high-quality goods, including brand names like Dooney & Burke, at lower prices than those typically found in department stores or specialty stores. They often offer discounts on overstock, last season's models, or bulk purchases, making them a likely place for Nicole to find the purse at a reduced price.

Question 11

You would most likely find a manufacturer's excess output, seconds, inventory remaining at the end of a season, and irregular merchandise being sold at a(n):

Accepted Answer

Off-price retailers specialize in buying and selling the types of items listed, often at lower prices due to their nature (excess, out-of-season, or slightly imperfect goods).

Question 12

Which of the following statements about off-price retailers is True?

Accepted Answer

All the statements provided accurately describe characteristics of off-price retailers. Factory outlets are indeed a type of off-price retailer, offering products from one manufacturer often at lower prices. Off-price retailers generally offer limited customer services to keep costs low. They also tend to have narrow but deep assortments, focusing on specific categories of merchandise. Furthermore, they often focus on well-known brands, offering them at reduced prices.

Question 13

One type of off-price retailer, the _____, is owned by manufacturers and usually sells a single manufacturer's clearance items as well as its regular merchandise.

Accepted Answer

Factory outlets are owned by manufacturers and typically sell the manufacturer's surplus, discontinued, or irregular goods along with regular merchandise, directly to the public at reduced prices.

Question 14

A _____ has a narrow but very deep assortment, emphasizes low prices, and is designed to destroy all competition in a specific product category.

Accepted Answer

A category-killer store specializes in a particular category and offers a deep assortment in that category, often at low prices, with the strategy of dominating the competition in that specific area.

Question 15

Bass Pro Shops carry everything a person who wants to fish could need at low prices. Their products include, tackle, lures, clothing, books, and rods. From this information, you should know Bass Pro Shops:

Accepted Answer

Bass Pro Shops, by offering a wide range of fishing-related products at low prices, are positioned in a way that could potentially outcompete smaller, specialized bait-and-tackle shops, leading to the interpretation that they were designed with the intention of dominating or "killing" these smaller competitors.

Question 16

A Chapter 11 retail bookstore stocks over 100,000 books-20 times as many as the average independent bookstore. Designed to destroy all its competition, Chapter 11 is an example of a:

Accepted Answer

A category-killer store is a large retail chain that dominates a specific product category. Chapter 11's strategy of stocking a vast number of books to outcompete other bookstores fits this definition.

Question 17

Disciples, a Christian bookstore, is ten times larger than the average Christian bookstore. Its gift department alone is 2200 square feet. It offers customers deep assortment and low prices. Disciples would be classified as a(n):

Accepted Answer

A category-killer store is a large retail store that specializes in a specific product category and offers a deep assortment and low prices, often dominating the competition. Disciples, with its large size and deep assortment at low prices, fits this description.

Question 18

In the late 1990s, several investors opened Dekor, a chain of home improvement stores that were to target an upper-end market with both construction material and home furnishings. Its investors assumed they could force The Home Depot and Lowe's out of the upper-end of the market by carrying a very narrow and very deep inventory at lower prices. The stores failed. Dekor was intended to be a:

Accepted Answer

Dekor was intended to be a category-killer store, which focuses on a particular category of products with the aim of dominating that segment by offering a wide variety (deep inventory) of that product at competitive prices, intending to "kill" the competition in that category.

Question 19

As a retailing method, supermarket retailing:

Accepted Answer

Supermarket retailing incorporates several related product lines (like groceries, household items, and sometimes clothing), relies heavily on self-service by customers, typically has centralized checkouts where customers pay for their purchases, and uses competitive pricing to attract and retain customers. Therefore, all of the statements accurately describe aspects of supermarket retailing.

Question 20

As a retailing method, supermarket retailing:

Accepted Answer

The answer of As a retailing method, supermarket retailing:
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Quiz 15: Retailing

Limited-line stores are identified by:

Gregory's House of Trains only sells Lionel trains and accessories. Gregory sells Lionel at the manufacturers' suggested prices. He emphasizes customer service. What type of a retail store is Gregory's House of Trains?

Specialty stores:

Duluth Outdoors sells all types of rods and reels for the sport of fishing at or near manufacturer suggested retail prices. As a way to differentiate the store, its owner repairs and fine-tunes all brands of rods and reels. Duluth Outdoors is an example of a(n) :

In terms of the category of products, specialty stores stock:

Specialty stores:

_____ position themselves below discount stores with lower prices on selected product lines. They typically concentrate on apparel and shoes; have a narrow, deep product assortment; emphasize their lower prices; and offer few customer services.

Nicole wants a Dooney & Burke purse she saw advertised in her local newspaper for $260.00. If she visits a(n) _____, she is likely to find the purse or one similar to it at a greatly reduced price.

You would most likely find a manufacturer's excess output, seconds, inventory remaining at the end of a season, and irregular merchandise being sold at a(n) :

Which of the following statements about off-price retailers is True?

One type of off-price retailer, the _____, is owned by manufacturers and usually sells a single manufacturer's clearance items as well as its regular merchandise.

A _____ has a narrow but very deep assortment, emphasizes low prices, and is designed to destroy all competition in a specific product category.

Bass Pro Shops carry everything a person who wants to fish could need at low prices. Their products include, tackle, lures, clothing, books, and rods. From this information, you should know Bass Pro Shops:

A Chapter 11 retail bookstore stocks over 100,000 books-20 times as many as the average independent bookstore. Designed to destroy all its competition, Chapter 11 is an example of a:

Disciples, a Christian bookstore, is ten times larger than the average Christian bookstore. Its gift department alone is 2200 square feet. It offers customers deep assortment and low prices. Disciples would be classified as a(n) :

As a retailing method, supermarket retailing:

As a retailing method, supermarket retailing: