Question 1

Supercenters are also known as

Accepted Answer

Supercenters are a type of retail store that combines a supermarket and a department store. Another name for this concept is "hypermarket." The other options listed are not accurate descriptors of supercenters.

Question 2

Supermarkets are

Accepted Answer

Supermarkets are large stores specializing in groceries with self-service and wide assortments. While other choices may apply to different types of retail stores, only choice C specifically describes supermarkets.

Question 3

________ offer "hard goods" at substantial price cuts to customers.

Accepted Answer

Discount houses offer "hard goods" at substantial price cuts to customers. Supermarkets, supercenters, mass-merchandisers, and convenience stores may offer some discounted items, but do not specialize in offering "hard goods" at substantial price cuts.

Question 4

Which of the following is LEAST likely to be sold by a supercenter?

Accepted Answer

Supercenters typically sell a wide range of products including groceries (like milk), pharmacy items (like aspirin), and general merchandise (like lawn care materials and photo finishing services). Trash compactors, being a more specialized and less frequently purchased item, are the least likely to be found in such stores compared to the other options.

Question 5

Mass-merchandisers:

Accepted Answer

Mass-merchandisers typically operate with low margins on individual items in order to competitively price their products and sell at high volumes.

Question 6

A "supercenter":

Accepted Answer

Supercenters are designed to offer a wide range of products, including groceries and general merchandise, at low prices to meet most of a customer's routine shopping needs.

Question 7

Mass-merchandisers:

Accepted Answer

Mass-merchandisers are large, self-service stores that focus on offering low prices to encourage faster turnover. They typically offer a wide range of products, including nationally-advertised "hard goods." They can be located in a variety of areas, not just large downtown areas, and often have a similar amount of floor space as supermarkets.

Question 8

Warehouse clubs such as Sam's Club and Costco

Accepted Answer

Warehouse clubs such as Sam's Club and Costco usually operate in large, no-frills facilities, have been successful targeting small-business customers, emphasize homogeneous shopping products, and usually charge consumers an annual membership fee.

Question 9

Large self-service retail stores that emphasize lower margins to get faster turnover-especially on "soft goods"-are called:

Accepted Answer

Mass-merchandisers are large self-service retail stores that emphasize lower margins to get faster turnover, especially on "soft goods" like clothing and home goods. Convenience food stores typically sell mainly food and beverage items and have a smaller product selection. Department stores and specialty shops may have higher margins and focus on specific product categories. Single-line stores specialize in a narrow range of products.

Question 10

Regarding supermarkets, which of the following statements is TRUE?

Accepted Answer

Supermarkets typically average more than $5 million a year in sales, their net profits after taxes are usually around 1-2 percent of sales, not 3 percent, and compared to super warehouse stores, they generally offer higher prices and more service, not lower prices.

Question 11

Regarding retailing, which of the following statements is FALSE?

Accepted Answer

Single-line mass-merchandisers, also known as specialty stores, have been successful in the retail industry. They offer a limited assortment of merchandise, but focus on a specific category, such as sporting goods or electronics.

Question 12

Which of the following are large, self-service stores with many departments that emphasize "soft goods" and staples but still follow the discount house's emphasis on lower margins to get faster turnover?

Accepted Answer

Mass-merchandisers are large self-service stores with many departments that emphasize "soft goods" and staples but still follow the discount house's emphasis on lower margins to get faster turnover. Supermarkets mainly focus on food and household items, discount houses offer a wide range of products at low prices, supercenters are larger versions of discount stores with a full grocery store, and direct-mail retailers sell products through mailed catalogs.

Question 13

Mass-merchandisers:

Accepted Answer

Mass-merchandisers typically operate with low margins on individual items, are now the primary place to shop for many frequently purchased consumer products, generally run a self-service operation, and are concerned with maintaining high inventory turnover. Therefore, all of the given alternatives are correct for mass-merchandisers.

Question 14

Supermarkets:

Accepted Answer

Supermarkets are designed to maximize efficiency in both the layout for customers and the supply chain logistics. This includes the organization of aisles, product placement, and inventory management to ensure a smooth shopping experience and operational workflow. Choices A, B, and C are incorrect: A) Supermarkets typically have low net profit margins, often around 1-2%, not 15%. B) Supermarkets were among the early adopters of mass merchandising concepts, aiming to provide a wide range of products under one roof. C) The number of product items carried by a supermarket varies, but 100,000 is on the high end; a more typical range might be 30,000 to 60,000 items.

Question 15

Very large retail stores that carry not only foods-but all goods and services which consumers purchase ROUTINELY-are called:

Accepted Answer

Supercenters are large retail stores that carry a wide range of goods and services, including groceries, clothing, electronics, furniture, and more. They are known for their size and the convenience of being a one-stop-shop for all consumer needs. General stores typically carry a wide range of merchandise but are typically smaller in size, while supermarkets primarily focus on food products. Mass-merchandisers and department stores also carry a wide range of goods, but may not necessarily focus on routine consumer purchases.

Question 16

Regarding discount houses, which of the following statements is TRUE?

Accepted Answer

All of these statements about discount houses are true. The early discount houses did focus on hard goods, but as they grew and became more successful they were able to offer a full selection of products. Discount houses are known for consistently offering low prices on all of their products, rather than occasional sales on select items. As they gained popularity and success, many discount houses sought to improve their image and reputation by moving to better locations and offering a wider range of products. Discount houses are indeed fast-turnover, price-cutting operations, emphasizing low costs and high volume sales.

Question 17

Regarding supermarkets, which of the following is NOT true?

Accepted Answer

Supermarkets typically operate on very thin profit margins, far lower than 10 to 15 percent of sales. Their after-tax profits are usually around 1 to 2 percent of sales, not the high figures mentioned.

Question 18

Which of the following chains is the largest food retailer in the U.S.?

Accepted Answer

Walmart is the largest food retailer in the U.S. with over 4,000 stores throughout the country, far surpassing its competitors like Kroger's and Safeway.

Question 19

A retail store that averages about $17 million in sales annually and specializes in groceries-with self-service and large assortments is a:

Accepted Answer

The store's specialization in groceries with self-service and large assortments, along with its high sales volume, indicates that it is a supermarket.

Question 20

Regarding supermarkets, which of the following statements is TRUE?

Accepted Answer

According to the passage, "Supermarket net profits after taxes usually are about 1 percent of sales-or less." The other options are not supported by the passage.

Quiz 12: Retailers, Wholesalers, and Their Strategy Planning

Supercenters are also known as

Supermarkets are

________ offer "hard goods" at substantial price cuts to customers.

Which of the following is LEAST likely to be sold by a supercenter?

Mass-merchandisers:

A "supercenter":

Mass-merchandisers:

Warehouse clubs such as Sam's Club and Costco

Large self-service retail stores that emphasize lower margins to get faster turnover-especially on "soft goods"-are called:

Regarding supermarkets, which of the following statements is TRUE?

Regarding retailing, which of the following statements is FALSE?

Which of the following are large, self-service stores with many departments that emphasize "soft goods" and staples but still follow the discount house's emphasis on lower margins to get faster turnover?

Mass-merchandisers:

Supermarkets:

Very large retail stores that carry not only foods-but all goods and services which consumers purchase ROUTINELY-are called:

Regarding discount houses, which of the following statements is TRUE?

Regarding supermarkets, which of the following is NOT true?

Which of the following chains is the largest food retailer in the U.S.?

A retail store that averages about $17 million in sales annually and specializes in groceries-with self-service and large assortments is a:

Regarding supermarkets, which of the following statements is TRUE?