Exam 5: Retail Institutions by Store-Based Strategy Mix

Relate the wheel of retailing,scrambled merchandising,and the retail life cycle concepts to one another.

The food-oriented retailer with the narrowest width and depth of assortment is the ________.

A category killer store is ________.

A huge form of combination store is a ________.

Conventional supermarkets,food-based superstores,combination stores,box (limited-line)stores,and warehouse stores are all included in the general definition of a supermarket.

a.Which recent institutional changes in retailing could have been forecast from the wheel of retailing theory? Explain. b.Which recent institutional changes in retailing could have been forecast from the scrambled merchandising theory? Explain.

In the long-run,scrambled merchandising is ________ in nature.

A pharmacy (due to increased competition from a neighboring supermarket)has now added an exclusive line of cosmetics,and has expanded its line of greeting cards and gift wrapping items.This strategy illustrates ________.

Retailers reduce both initial investments and ongoing costs through ________.

a.Many retail analysts have begun to question the long-term viability of the department store.According to one scenario,department stores are now out-priced by off-price chains,out-merchandised by category killer stores,and out-serviced by specialty stores.Comment on this statement. b.How can a department store effectively compete against these forms of retail institutions? Be specific in your answer.

The evolution of the conventional supermarket into a combination store,food-based superstore,and supercenter can be explained by which retail concept?

The growth of scrambled merchandising means that manufacturers will have to increasingly utilize selective distribution.

Two types of retail institutions satisfy the definition of a department store: the traditional department store and the ________.

Which retail institution has the most selection of any general merchandise retailer?

Explain how a full-line discount store can effectively compete against an off-price chain and a membership club.

According to the wheel of retailing theory,retail innovators first appear as ________.

The box (limited-line)store illustrates the first stage of the wheel of retailing.

A retailer that believes that a retail life cycle resembles a fad should use ________.

The retail life cycle stage corresponding to an innovative retailer's first becoming vulnerable to a new retailer with a lower cost structure is ________.

Through ________,retailers seek to jointly maximize resources,enlarge their customer base,and improve productivity and bargaining power.