Retail Strategy Chapter 7-8 Quiz

A truly unique retailer can disregard most of the rules of location. True False

True

Walgreens prefers building on right hand corners to improve ease of both ingress and egress for their customers. True False

True

A planned retail location does not necessarily have any centralized management that determines what stores will be in a development, where the specific stores will be located, or how they will be operated. True False

False

Location is only important for a retailer with stores in the brick & mortar channel. True False

False

While on their way home from work, a customer notices they are very low on gas. They stop at the first gas station they see to fill up. This is an example of a comparison shopping situation. True False

False

An open-air shopping center that consist primarily of free-standing big-box retail stores, such as full-line discount stores (Target), off-price stores (Marshalls), warehouse clubs (Sams), and category specialists (Lowe's or Best Buy) is referred to as: central business district an enclosed shopping mall a power center strip shopping center

a power center

Once a retailer has narrowed their location options down to a handful of sites, they must evaluate those sites. Which of the following is a characteristic that should be considered? restrictions and costs traffic flow visibility all of the other answer options are site characteristics which must be considered

all of the other answer options are site characteristics which must be considered

Why are location decisions of strategic importance to retailers? a good location is an inimitable (and sustainable) competitive advantage all of the other options are correct location decisions are expensive location decisions are difficult to change

all of the other options are correct

Examples of nontraditional retail locations include: a. a store-within-a -store, such as the Starbucks located in a Target store b. all of the other options are correct c. a merchandise kiosk d. a pop-up store - such as a fireworks stand

b. all of the other options are correct

Aldi is considering building several new stores in the coming year. When choosing the most attractive area for each new store, which of the following is a factor they should consider? the cost of operating a store in that particular area c. the presence or absence of competition all of the other options should be considered the area's economic condition now and in the future

c. the presence or absence of competition

A local family decides to go out to eat. They haven't yet decided which type of food they prefer so they go to the local restaurant row. What type of shopping situation is this? convenience shopping specialty shopping food preference shopping comparison shopping

comparison shopping

For a brick & mortar retailer, the most important area of their trade radius is: there is no one portion of the trading area that is more important than any other tertiary trading area primary trading area secondary trading area

primary trading area