Exam 5: Retail Institutions by Store-Based Strategy

The competitive advantage of a category killer is based on _____.

Which retail institution is often part retailer and part wholesaler?

Which general merchandise retailer is most likely to appeal to a small,niche market segment?

In the wheel of retailing,a retailer becomes vulnerable when it places too much reliance on its price (versus its image).

According to the wheel of retailing,a retailer is vulnerable when _____.

Other retailers' canceled orders,manufacturers' irregulars and overruns,and end-of-season items form the core of merchandise at which retail institution?

The last stage of the wheel of retailing for a retailer (high-end strategy)is comparable to the accelerated development stage in the retail life cycle.

The retail life cycle stage characterized by excess capacity and overstoring is _____.

Private labels are an integral part of the channel control strategy of _____.

A convenience store's natural advantage over a supermarket is its low prices due to higher inventory turnover.

The majority of membership club sales are made to final consumers.

The theory that suggests that established retailers must be cautious in converting from a low-end strategy to a high-end strategy is _____.

The food-oriented retailer with the narrowest product assortment is the warehouse store.

A retailer with the least degree of diversification in its product line or service category is a _____ store.

Off-price chains generally purchase merchandise on an opportunistic basis by focusing on cancelled orders,irregulars,and end-of-season merchandise.

What type of management style should accompany the introduction stage of the retail life cycle?

A retailer that increases its product line assortment width by adding new products unrelated to its original business and to each other is practicing _____.

A membership club has a higher inventory turnover than a traditional department store.

Both box (limited-line)stores and warehouse stores utilize one-stop shopping appeals.

The growth of box stores did not reach original expectations,in large part,because _____.