Chapter 15 - Chapter 15Retailing TRUE/FALSE 1 Retailing can...

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Chapter 15—Retailing TRUE/FALSE 1. Retailing can be defined as all activities directly related to the sale of goods and services to the ulti- mate consumer for personal, nonbusiness use. ANS: T PTS: 1 REF: 227 OBJ: 15-1 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Distribution 2. A retail establishment can be classified according to its ownership, level of service, product assort- ment, and price. ANS: T PTS: 1 REF: 228 OBJ: 15-2 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Distribution 3. A retailing establishment that sells a wide variety of shopping and specialty goods, including apparel, cosmetics, housewares, and electronics would be classified as a department store. ANS: T PTS: 1 REF: 229 OBJ: 15-3 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Distribution 4. Emily has just opened a health food store that sells organic foods, herbal supplements, and environ- mentally-friendly products. Because it will be a specialty store, she should have a broad product as- sortment with moderately low prices. ANS: F Specialty stores have narrow product assortments and moderate to high prices. PTS: 1 REF: 229 OBJ: 15-2 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Distribution 5. Supermarkets are self-service retailers that specialize in food and food products although many now carry nonfood items as well. ANS: T PTS: 1 REF: 230 OBJ: 15-3 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Distribution 6. Jennifer owns a greeting card store where she also sells women’s purses, crocs for the whole family, jibbitz, cell phone skins, Sandy Lion stickers, Yankee candles, Godiva chocolates, Precious Memories figurines, beaded jewelry, and stuffed animals. Jennifer uses multibrand merchandising. ANS: F This would be an example of scrambled merchandising because it involves offering nontraditional goods. There is no such thing as a multibrand. PTS: 1 REF: 230 OBJ: 15-3 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Distribution 7. A typical discount store competes by carrying a limited line of high-turnover, high-margin goods. ANS: F
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Discount stores compete on the basis of low prices, high turnover, and high volume. The strategy in the example describes a convenience store. PTS: 1 REF: 231 OBJ: 15-3 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Distribution 8. Flash Foods is the name of a chain of small stores, which carry high-turnover products such as lip balm, milk, soda, beer, bread, and aspirin. Flash Foods stores are open all day every day and would best be classified as convenience stores. ANS: T PTS: 1 REF: 230 OBJ: 15-3 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Distribution 9. Supercenters are more than just larger versions of traditional "markets." In addition to foodstuffs, su- percenters have pharmacies, dry cleaners, portrait studies, photo finishing, hair salons, and restaurants.
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