Question 1

Which of the following is a discount retailer owned by a manufacturer that provides the manufacturer a store to sell off defective merchandise?
A) a specialty store
B) a factory outlet store
C) a department store
D) a general merchandise discount store
E) a warehouse club

Accepted Answer

A factory outlet store is owned by a manufacturer and sells off defective or overstocked merchandise directly to consumers at discounted prices. The other options do not fit this description.

Question 2

Stop-N-Go and Circle K, both small stores that serve consumers willing to pay a higher price for the ease of buying staples close to home, are ________.
A) specialty stores
B) convenience stores
C) supermarkets
D) hypermarkets
E) off-price retailers

Accepted Answer

Stop-N-Go and Circle K are both small stores that specialize in convenience, offering customers the ability to purchase necessities quickly and easily. Therefore, they are classified as convenience stores.

Question 3

Which of the following is true about convenience stores?
A) They carry mostly shopping goods.
B) They charge lower-than-normal prices for shopping goods.
C) They are reluctant to change their offerings to adjust to changes in the market.
D) They create time utility for their customers.
E) They create form, time, and place utility for their customers.

Accepted Answer

Convenience stores create time utility for their customers by being open for extended hours and often being located in convenient locations for quick stops. While they may carry some shopping goods, they primarily focus on providing convenient access to items that customers may need in a hurry, such as snacks, drinks, and basic household supplies. They may not necessarily charge lower-than-normal prices for these items, and they often adjust their offerings to meet changing consumer preferences and trends.

Question 4

Which type of self-service store offers a limited line of inexpensive items, often at a single price point?
A) convenience store
B) box store
C) specialty store
D) variety store
E) leased department store

Accepted Answer

Variety stores, also known as dollar stores or pound shops, offer a limited selection of items at a low cost, often with a single price point (e.g. everything in the store is $1). These stores are popular due to their affordability and convenience, especially for everyday items like household cleaners and toiletries.

Question 5

Several years ago, the Paradise Surf Shop was the only surf-gear store catering to women. It carried everything the serious female surfer needed to ride the waves. In terms of its merchandise assortment, it had a ________ assortment.
A) shallow and deep
B) narrow and deep
C) shallow and broad
D) broad and deep
E) shallow and narrow

Accepted Answer

The correct answer is "narrow and deep" because the store specialized in surf-gear specifically for women (narrow focus) but offered everything a female surfer needed, indicating a wide variety within that specific category (deep assortment).

Question 6

Which of the following types of retail stores would likely offer the broadest assortment of merchandise and services?
A) convenience stores
B) factory outlet stores
C) specialty stores
D) box stores
E) hypermarkets

Accepted Answer

Hypermarkets, also known as supercenters or hypermarts, are large retail stores that offer a wide range of merchandise and services including groceries, clothing, electronics, home goods, and pharmacy services, among others. They typically have a vast shopping area, and their assortment of goods and services is unmatched by any other retail store.

Question 7

The Paper Moon sells gift wrapping paper, stationery, and greeting cards. It does not sell any other products. The number of different kinds of wrapping paper, stationery, and cards make up its ________.
A) point-of-sale range
B) merchandise diversity
C) atmospherics
D) merchandise assortment
E) retail format

Accepted Answer

The number of different types of products a store offers is referred to as its merchandise assortment. Therefore, the best answer is D.

Question 8

Which of the following statements about department stores is true?
A) Department stores are more successful in America today than they have ever been.
B) Department stores typically offer shallow and narrow assortments.
C) Department stores are more popular in America than they are abroad.
D) Department stores are typically self-service.
E) Department stores were a dominant type of American retailer in the first half of the twentieth century.

Accepted Answer

Department stores were a dominant type of American retailer in the first half of the twentieth century. While they have faced challenges in recent years, they were once a key player in the retail industry. The other statements are not true - department stores typically have broad and deep assortments, they are self-service but also often offer personalized service, and department stores are popular abroad as well as in America.

Question 9

Which of the following types of retailers obtain surplus merchandise from manufacturers and offer brand-name, fashion-oriented goods at low prices?
A) specialty stores
B) warehouse clubs
C) off-price retailers
D) department stores
E) hypermarkets

Accepted Answer

Off-price retailers obtain surplus merchandise from manufacturers and offer brand-name, fashion-oriented goods at low prices. Specialty stores focus on selling a narrow range of products, while department stores offer a wide range of products. Warehouse clubs sell merchandise in large quantities at lower prices, while hypermarkets are large retail stores that combine supermarkets and department stores.

Question 10

Customers of a ________ buy most of the store's products in larger-than-normal packages and quantities.
A) warehouse club
B) department store
C) factory outlet store
D) leased department store
E) hypermarket

Accepted Answer

A warehouse club typically sells products in bulk, at a discounted price, to customers who buy in large quantities. These customers may be businesses or individuals looking to stock up on everyday essentials.

Question 11

Which of the following is true about general merchandise discount stores?
A) They typically have deep and narrow assortments.
B) They typically have shallow and narrow assortments.
C) They do not use price differentiation.
D) They appeal to consumers who want easy access to a lot of merchandise.
E) They are typically full-service retailers.

Accepted Answer

General merchandise discount stores typically offer a wide range of merchandise, making it easy for customers to find what they're looking for, and typically offer low prices to appeal to cost-conscious consumers. They often have deep and wide assortments in popular categories like home goods, electronics, apparel, and grocery items.

Question 12

A shoe department carries more than 55 different styles of white sandals. This is a description of the shoe department's ________.
A) merchandise breadth
B) retail diversity
C) merchandise depth
D) point-of-sale range
E) service assortment

Accepted Answer

The answer of A shoe department carries more than 55...

Question 13

Which type of self-service store is a food store with a limited selection of items and few brands per item?
A) convenience store
B) box store
C) specialty store
D) variety store
E) leased department store

Accepted Answer

A box store is a type of self-service store that offers a limited selection of items and few brands per item, focusing on efficiency and low prices.

Question 14

Which type of store combines the characteristics of a warehouse store and a supermarket?
A) freestanding store
B) department store
C) box store
D) hypermarket
E) factory outlet store

Accepted Answer

A hypermarket combines the characteristics of a warehouse store (large size, bulk goods, lower prices) and a supermarket (a wider variety of products, including fresh foods).

Question 15

Which of the following is NOT true about warehouse clubs?
A) They are not full-service stores.
B) They often charge their customers with a modest annual membership fee.
C) They carry items in bulk.
D) They are a form of discount store.
E) They have not followed the pattern set forth by the wheel-of-retailing hypothesis.

Accepted Answer

Warehouse clubs have actually followed the pattern of the wheel-of-retailing hypothesis, which suggests that new retail formats start out with low prices and limited services, and over time become more upscale with additional services and prices. Warehouse clubs started out as low-priced, low-service stores and have evolved into offering more upscale amenities and services such as gourmet foods and travel services.

Question 16

A large retail store that wants to offer a broader variety of products or services on site than it would otherwise carry would most likely make an arrangement with a(n) ________.
A) leased department
B) convenience store
C) variety store
D) factory outlet
E) off-price retailer

Accepted Answer

Leased departments are sections of a retail store that are leased to outside companies, allowing the store to offer a wider variety of products or services without carrying the inventory themselves. This arrangement benefits both the store and the outside company, as the store gains more offerings and the outside company gains exposure to a larger customer base.

Question 17

Costco's surprise offerings of seconds, overstocks, and closeouts-occasionally including diamonds-is an example of how a retailer can differentiate itself through its ________.
A) merchandise mix
B) services mix
C) destination retailing
D) store atmosphere
E) level of service

Accepted Answer

Costco's surprise offerings of seconds, overstocks, and closeouts are related to the merchandise mix, which is the assortment of products and brands that a retailer offers to its customers. By providing unique and diverse merchandise offerings, Costco is able to differentiate itself from other retailers and appeal to customers who are looking for deals and value.

Question 18

Which of the following stores is most likely to have a narrow assortment of merchandise?
A) a supermarket
B) a factory outlet store
C) a department store
D) a warehouse club
E) a hypermarket

Accepted Answer

Factory outlet stores typically specialize in one particular category of merchandise (such as clothing or home goods) and therefore have a narrow assortment compared to other types of stores.

Question 19

________ carry a narrow assortment of product lines with deep assortments within those lines.
A) Supermarkets
B) Specialty stores
C) Convenience stores
D) Discount stores
E) Off-price stores

Accepted Answer

Specialty stores typically focus on a narrow assortment of products, but offer deep assortments within those lines. They prioritize expert knowledge and provide a unique shopping experience that caters to specific customer needs. Supermarkets, convenience stores, discount stores, and off-price stores typically have broader product lines with more shallow assortments within each category.

Question 20

GameStop sells video games and systems, offering a narrow product line with a deep assortment within that line. GameStop is a(n) ________http://www.xbox.com/en-us/games/forza-6.
A) department store
B) convenience store
C) specialty store
D) general merchandise discount store
E) off-price retailer

Accepted Answer

GameStop's narrow product line of video games and systems, with a deep assortment within that line, is characteristic of a specialty store.

Quiz 12: Deliver the Customer Experience: Goods and Services Via Bricks and Clicks

Which of the following is a discount retailer owned by a manufacturer that provides the manufacturer a store to sell off defective merchandise?

Stop-N-Go and Circle K, both small stores that serve consumers willing to pay a higher price for the ease of buying staples close to home, are ________.

Which of the following is true about convenience stores?

Which type of self-service store offers a limited line of inexpensive items, often at a single price point?

Several years ago, the Paradise Surf Shop was the only surf-gear store catering to women. It carried everything the serious female surfer needed to ride the waves. In terms of its merchandise assortment, it had a ________ assortment.

Which of the following types of retail stores would likely offer the broadest assortment of merchandise and services?

The Paper Moon sells gift wrapping paper, stationery, and greeting cards. It does not sell any other products. The number of different kinds of wrapping paper, stationery, and cards make up its ________.

Which of the following statements about department stores is true?

Which of the following types of retailers obtain surplus merchandise from manufacturers and offer brand-name, fashion-oriented goods at low prices?

Customers of a ________ buy most of the store's products in larger-than-normal packages and quantities.

Which of the following is true about general merchandise discount stores?

A shoe department carries more than 55 different styles of white sandals. This is a description of the shoe department's ________.

Which type of self-service store is a food store with a limited selection of items and few brands per item?

Which type of store combines the characteristics of a warehouse store and a supermarket?

Which of the following is NOT true about warehouse clubs?

A large retail store that wants to offer a broader variety of products or services on site than it would otherwise carry would most likely make an arrangement with a(n) ________.

Costco's surprise offerings of seconds, overstocks, and closeouts-occasionally including diamonds-is an example of how a retailer can differentiate itself through its ________.

Which of the following stores is most likely to have a narrow assortment of merchandise?

________ carry a narrow assortment of product lines with deep assortments within those lines.

GameStop sells video games and systems, offering a narrow product line with a deep assortment within that line. GameStop is a(n) ________http://www.xbox.com/en-us/games/forza-6.