Retailing - Top Grade Hub

Retailing includes all of the activities involved in reselling goods to final consumers, but it does not include the sale of services to final consumers since services must be produced in the presence of the consumer.

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True False

2.	In the U.S. about three-fourths of new retailing ventures fail during the first year. True False

3.	A consumer’s choice of a retail store appears to be based almost entirely on economic needs. True False

4.	A consumer’s choice of a retail store appears to be based almost entirely on emotional needs–economic needs have almost no influence. True False

5.	The marketing strategies for the two shoe retailers Payless and Zappos are very different but both are successful. True False

6.	The marketing strategies for the two shoe retailers Payless and Zappos are very different, and Zappos’ strategy is successful while Payless’ strategy is not. True False

7.	It’s oversimplified to classify retailers and their strategies on the basis of a single characteristic–such as sales volume, services, product assortment, etc. True False

8.	Retailers and their strategies can easily be classified based on the type of merchandise they sell. True False

9.	Single-line stores that used to carry anything they could sell in reasonable volume were the main retailers in the United States. True False

10.	Most “conventional” retailers are single-line or limited-line stores that have very low expenses relative to sales. True False

11.	Most single-line and limited-line stores apply the retailing philosophy of buying low and selling high. True False

12.	In most countries, small limited-line retailers still account for the majority of all retailers. True False

13.	Specialty shops are limited-line stores which aim at a carefully defined target market with a unique product assortment, good service, and knowledgeable salespeople. True False

14.	Specialty shops will continue to be a part of the retailing scene as long as customers have varied tastes and the money to satisfy them. True False

15.	Department stores are stores which usually try to serve customers seeking a variety of convenience products. True False

16.	Department stores are larger stores that are organized into many separate departments and offer many product lines. True False

17.	Department stores keep growing in numbers, sales, and market share. True False

18.	The mass-merchandising concept means that retailers can succeed by selling a large volume of merchandise to a target market at low prices. True False

19.	Mass-merchandisers have proved to be effective competitors in taking away department store customers. True False

20.	Retailers who follow a policy of “buy low and sell high” are practicing the “mass-merchandising concept.” True False

21.	Warehouse clubs started the move to mass-merchandising. True False

22.	The basic idea for supermarkets developed in the U.S. in the 1960s when consumers started to move from the cities to the suburbs. True False

23.	Large sales volume and efficient operation are usually very important for supermarkets, since net profits usually run 1 percent of sales or less. True False

24.	Super warehouse stores charge higher prices than supermarkets and focus on attracting customers who want better selections of perishables like meat and produce. True False

25.	Discount stores offer “soft goods” at substantial price cuts to customers. True False

26.	Today, discount houses are found in low-rent facilities, have poor images with customers, and offer few services and no guarantees. True False

27.	A discount house is trying to meet all the customer’s routine needs at a low price. True False

28.	Mass-merchandisers emphasize “hard goods” while discount houses emphasize “soft goods.” True False

29.	Mass-merchandisers have become the primary place to shop for many frequently purchased consumer products. True False

30.	Walmart, one of the largest mass-merchandisers in the U.S., handles 30 percent or more of the total national sales for whole categories of products. True False

31.	A “supercenter” carries all the goods and services that a consumer might routinely purchase. True False

32.	A consumer who went to shop at a “supercenter” would probably expect not only to be able to buy food and health care products, but also to leave dry-cleaning or have shoes repaired. True False

33.	“Supercenters” are very large stores that specialize in selling a big variety of infrequently purchased products that would otherwise be hard for consumers to find. True False

34.	In addition to food, warehouse clubs carry homogeneous shopping goods. True False

35.	In addition to food, warehouse clubs emphasize heterogeneous shopping goods. True False

36.	Category killers is another name for single-line mass-merchandisers. True False

37.	Because of their higher margins, faster turnover, and narrower assortments, convenience food stores have the potential to be more profitable than supermarkets. True False

38.	Convenience food stores now compete with supermarkets, gas stations, and fast-food outlets. True False

39.	The sale of candy from a vending machine at a bus station is not considered retailing since no store is involved. True False

40.	The major advantage of vending machine retailing is that the costs are low relative to the volume they sell. True False

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