Exam 5: Retail Institutions by Store-Based Strategy Mix

How can a traditional department store compete against a membership club and a flea market?

The evolution of the combination store and food-based superstore from the conventional supermarket can be best explained by the wheel of retailing theory.

Low operating costs characterize which of the following retailing institutions?

A category killer store is a form of which retail institution?

Department stores are now facing increased competition from off-price chains,factory outlets,membership clubs,and flea markets.This illustrates ________.

A combination store combines ________ into one facility.

Which food-oriented retailer concentrates on the sale of fill-in items?

A small retailer can become a destination retailer offering consumers superior selection,exclusive goods and services,and superior customer service.

A destination retailer ________.

A destination retailer has a relatively small trading area.

The major difference between a combination store and a food-based superstore is based on the ________.

Which retail institution has the greatest assortment?

A category killer is a form of specialty store.

Increased consumer price consciousness explains much of the popularity of scrambled merchandising.

Scrambled merchandising is most similar to which retail institution format?

The average gross margins (selling prices less merchandising costs)for conventional supermarkets have averaged about what percent of sales?

The largest food-based retailer in terms of average store size is the supermarket.

A retailer can reduce dependency on its core operations through ________.

Fees to customers account for a large proportion of total profits for ________.

A fundamental assumption of the wheel of retailing theory is high customer loyalty.