MGKT 13-1

________ are two or more outlets that are commonly owned and controlled. A) Chain stores B) Convenience stores C) Off-price retailers D) Independent off-price retailers E) Power centers

A) Chain stores

________ have filled the ultralow-priced, high-volume gap by buying at less-than-regular wholesale prices and charging consumers less than retail. A) Off-price retailers B) Discount stores C) Convenience stores D) Chain stores E) Limited-service retailers

A) Off-price retailers

________ operate in warehouse-like facilities, sell a limited selection of items, and offer few frills. Customers pay annual membership fees and are able to purchase goods at deep discounts. A) Warehouse clubs B) Independent off-price retailers C) Factory outlets D) Discount stores E) Superstores

A) Warehouse clubs

Which type of store carries a deep assortment, has knowledgeable staff, and might actually be viewed as a giant specialty store? A) category killer B) chain C) factory outlet D) shopping center E) independent

A) category killer

Which type of small store carries a limited line of high-turnover convenience goods and makes most of its revenues from cigarette, beverage, and gasoline sales? A) convenience B) chain C) department D) supermarket E) hypermarket

A) convenience

________ sell standard merchandise at lower prices by accepting lower margins and selling higher volume. A) Merchant wholesalers B) Discount stores C) Full-service retailers D) Limited-service retailers E) Factory outlets

B) Discount stores

________ are sometimes several stores grouped together. These stores offer prices as low as 50 percent below retail on a wide range of mostly surplus, discounted, or irregular items. A) Category killers B) Factory outlets C) Specialty stores D) Superstores E) Power centers

B) Factory outlets

________ includes all the activities involved in selling products or services directly to final consumers for their personal, nonbusiness use. A) Franchising B) Retailing C) Brokering D) Wholesaling E) Disintermediation

B) Retailing

________ is the basis of all discount operations and is typically used by sellers of convenience goods. Retailers offering this level of service require customers to perform their own "locate-compare-select" process in order to save money. A) Limited-service B) Self-service C) Full-service D) Specialty-service E) Wholesaling

B) Self-service

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

B) Specialty stores

Which type of store carries a wide variety of product lines and differentiates itself through service, but has been squeezed in recent years between more focused and flexible specialty stores on the one hand and more efficient, lower-priced discounters on the other? A) chain B) department C) factory outlet D) merchant wholesaler E) independents

B) department

Which of the following retailers likely require the most emphasis on salespeople to assist customers? A) self-service retailers B) full-service retailers C) off-price retailers D) limited-service retailers E) megaretailers

B) full-service retailers

Specialty stores carry ________ with ________ within them. A) convenience items; mostly staples B) narrow product lines; deep assortments C) narrow product lines; shallow assortments D) wide product lines; shallow assortments E) wide product lines; deep assortments

B) narrow product lines; deep assortments

________ retailers in the United States are growing faster than product retailers. A) Discount B) Merchant C) Service D) Specialty E) Off-price

C) Service

Early ________ cut expenses by offering few services and operating in warehouse-like facilities in low-rent, heavily traveled districts. A) chain stores B) department stores C) discount stores D) off-price retailers E) full-service retailers

C) discount stores

Manufacturers send last year's merchandise and seconds to ________, while they send new merchandise to department stores. A) convenience stores B) chain stores C) factory outlets D) retailers E) power centers

C) factory outlets

Which type of stores usually carry more specialty goods for which customers like to be "waited on" and have much higher operating costs, which are passed along to the customer? A) self-service stores B) category killer stores C) full-service stores D) independent stores E) specialty-service retailers

C) full-service stores

________, which buy at less-than-regular wholesale prices and charge consumers less than retail, are independently owned and run or are divisions of larger retail corporations. A) Discount stores B) Warehouse clubs C) Superstores D) Independent off-price retailers E) Full-service retailers

D) Independent off-price retailers

________, such as Sears, provide more sales assistance because they carry more shopping goods about which customers need information. Their increased operating costs result in higher prices. A) Self-service retailers B) Full-service retailers C) Off-price retailers D) Limited-service retailers E) Specialty-service retailers

D) Limited-service retailers

________ are facing slow sales growth because of slower population growth, increased competition, and the rapid growth of out-of-home eating. A) Convenience stores B) Department stores C) Chain stores D) Supermarkets E) Hypermarkets

D) Supermarkets

Which of the following is NOT one of the main types of off-price retailers? A) independents B) factory outlets C) warehouse clubs D) category killers E) membership warehouses

D) category killers

In recent years, ________ has/have been growing fast. This includes selling to final consumers through direct mail, catalogs, telephone, and the Internet. A) specialty stores B) shopping centers C) superstores D) nonstore retailing E) e-commerce

D) nonstore retailing

Which type of retailer tends to be the most frequently shopped? A) convenience stores B) department stores C) superstores D) supermarkets E) off-price retailers

D) supermarkets

Which type of store is much larger than regular supermarkets and offers a large assortment of routinely purchased food products, nonfood items, and services? A) category killer B) chain C) factory outlet D) superstore E) off-price

D) superstore

Service retailers include all of the following EXCEPT ________. A) hotels and motels B) airlines C) movie theaters D) bowling alleys E) convenience stores

E) convenience stores