Question 1

Which type of store has high sales volume, little service, and prices 20-40 percent lower than supermarkets ?

Accepted Answer

Warehouse clubs typically have high sales volume due to their bulk purchasing model, minimal service as customers are often required to do their own shopping and bagging, and lower prices compared to traditional supermarkets. Specialty stores may have higher prices and provide more personalized service, superstores may offer a wider variety of items but may not have as low prices, off-price retailers may not have the same sales volume or bulk purchasing power, and convenience stores often have higher prices and lower sales volume due to their focus on convenience rather than low prices.

Question 2

The types of planned shopping centers are

Accepted Answer

The answer choices include some options that do not actually correspond to types of planned shopping centers, such as "international" and "national." The correct options are neighborhood, community, and regional, but there is an additional type called lifestyle centers. Therefore, choice D is the most accurate as it includes all four types: regional, community, neighborhood, and lifestyle.

Question 3

Sherilyn operates a store called The Gift Garden, Her store sells pottery, candles, crafts, and other knickknacks that make good gifts for family and friends.The Gift Garden, is a _____.

Accepted Answer

The Gift Garden is a traditional specialty store because it offers a variety of unique and specialized gift items in different categories such as pottery, candles, crafts, and others.

Question 4

Jessica decides to order smaller amounts of inventory at a time for her arts and crafts store.She is obviously concerned about _____ costs.

Accepted Answer

Holding costs refer to the expenses incurred to store, maintain and manage inventory over time. By ordering smaller amounts of inventory at a time, Jessica can reduce her holding costs as she needs less space to store her inventory and incurs less risk of inventory becoming obsolete or stale.

Question 5

Macy's Sears, and JCPenney are examples of _____ stores.

Accepted Answer

Macy's, Sears, and JCPenney are all examples of department stores, which offer a range of products across multiple categories such as clothing, home goods, and electronics. Specialty stores focus on a specific product category, super stores offer a wider range of products than department stores, discount stores offer lower-priced goods, and convenience stores offer quick, easy access to everyday items.

Question 6

Kroger is an example of a _____.

Accepted Answer

Kroger is a typical example of a supermarket that offers a wide variety of products including groceries, bakery items, meat, pharmacy, and electronics.

Question 7

Meijer, a retail chain, carries a full line of food and nonfood items as well as product lines such as small appliances.Some furniture, automotive items, clothing, and lawn and garden equipment.Maijer is a(n) _____.

Accepted Answer

Meijer is a superstore that offers a wide range of products from food to nonfood items, small appliances, furniture, automotive items, clothing, and lawn and garden equipment. It is not just a supermarket, warehouse club, off-price retailer or discount store, but a combination of all these formats in a single store, making it a superstore.

Question 8

Target and Wal-Mart are considered

Accepted Answer

Target and Wal-Mart are both known as discount stores because they offer a wide variety of merchandise at lower prices than traditional department stores. Superstores typically offer a wider range of products, including groceries and household items, while independent retailers are locally owned and operated businesses. Convenience stores are typically smaller stores that specialize in providing quick and easy access to everyday items.

Question 9

Post Oak Mall contains two department stores, numbers specialty stores, a movies theater, and various restaurants, Since it does not contain any convenience stores, Post Oak Mall is an example of a (n) _____ shopping center.

Accepted Answer

Post Oak Mall is described as having two department stores, a movie theater, and numerous specialty stores and restaurants, indicating that it is a larger shopping center that serves a broader regional target audience.

Question 10

Department stores are distinctly service-oriented.Along with the goods they sell, they provide _____.

Accepted Answer

Department stores are known for their customer service and personal assistance, which sets them apart from other retailers. Lower markups, quality discounts, and very low prices are not necessarily characteristic of department stores. Warehouse merchandising is more commonly associated with discount stores or bulk retailers.

Question 11

Staples, Babies 'R' Us, and Petsmart are examples of _____.

Accepted Answer

Category killers are stores that dominate a particular product category, such as Staples for office supplies, Babies 'R' Us for baby products, and Petsmart for pet supplies.

Question 12

Regulations associated with the national do-not-call registry are enforced by the _____.

Accepted Answer

The Federal Trade Commission (FTC) is responsible for enforcing regulations associated with the national do-not-call registry.

Question 13

L'eggs Pantyhose often sends potential customers free trails of its pantyhose in the mail.This is an example of _____.

Accepted Answer

L'eggs Pantyhose's strategy involves direct-response marketing, which seeks to elicit a response directly from the consumer, often through direct mail or email. By sending free trials of its pantyhose in the mail, the company is targeting potential customers and seeking to elicit a direct response from them, namely purchasing their product.

Question 14

One of the most significant issues of online retailing is _____.

Accepted Answer

Security is one of the most significant issues of online retailing as customers share their personal and financial information online while making transactions. Thus, ensuring secure payment gateways and protecting customer data from cyber-attacks is essential for building trust and retaining customers in online retailing.

Question 15

Abercrombie and Fitch, a nationwide clothing store, in a (n) _____.

Accepted Answer

Abercrombie and Fitch is a chain retailer with stores located across the country.

Question 16

T J Maxx, Burlington Coat Factory, and marshall's are examples of

Accepted Answer

T J Maxx, Burlington Coat Factory, and Marshall's are all examples of off-price stores. These stores offer brand name merchandise at discounted prices, often due to overstock or discontinued items. They differ from department stores and specialty stores in that they do not carry a specific type of product or cater to a specific market.

Question 17

A large, self-service store that sells primarily food and household products is called a _____.

Accepted Answer

A supermarket is a large, self-service store that sells primarily food and household products. Specialty stores focus on a particular type of product, discount stores offer lower prices on a wide range of products, and department stores sell a variety of products across multiple categories. Convenience stores are typically smaller and offer a limited selection of products for quick and easy purchases.

Question 18

Gap, Radio Shack, Bath and Body Works, and Foot Locker are examples of _____.

Accepted Answer

Gap, Radio Shack, Bath and Body Works, and Foot Locker are all examples of specialty stores. Specialty stores are retailers that focus on a specific product category or specific customer need. These stores offer a narrow assortment of merchandise and have sales associates with expertise in the category they serve.

Question 19

All of the following are characteristics of warehouse showroom retailers except

Accepted Answer

Warehouse showroom retailers typically do not require membership to shop.

Question 20

Discount stores are self-service merchandise outlets that sell goods at lower prices than usual and

Accepted Answer

Discount stores keep their prices low by operating on lower markups, meaning they don't have high profit margins on their products. This allows them to offer goods at lower prices than usual. They may not offer as many customer services or have showrooms in high-rent districts as other retailers, but they are able to attract customers with their low prices. Therefore, option C is the best choice.

Quiz 13: Distributing and Promoting Products