Unlock document.
This document is partially blurred.
Unlock all pages and 1 million more documents.
Get Access
300) Mall of America has three ________ stores: Macy's, Nordstrom, and Sears.
A) strip mall
B) local competitor
C) broker
D) retailing mix
E) anchor
301) Key target markets for Mall of America are
A) the interstate market and discount shoppers.
B) shoppers who seek mainstream experiences and bargain hunters.
C) large numbers of similar retailers to maintain a consistent retail profile.
D) budget-conscious travelers and time-poor shoppers.
E) the local market and tourists.
302) To continue to be successful, Mall of America must
A) focus mostly on attracting suitable employees.
B) keep a huge and diverse portfolio of retailers and attractions in the mall.
C) refine and focus the retail mix to create a more consistent purchasing experience.
D) promote its location as a key feature.
E) reduce the variety of retailers to contain the costs of appealing to a wide range of customers.
303) Describe several of the technical solutions that power today's "smart store."
304) Name the four utilities offered by retailers and identify a retailer that provides that utility.
305) Explain the global impact of retailing.
306) Briefly describe the three ways retail outlets can be classified.
307) Briefly describe the advantages of being an independent retailer and the benefits an
independent retailer can offer customers.
308) Explain the relationship between a franchisee and a franchisor.
309) Briefly describe the two general types of franchises.
310) Briefly describe the three levels of service offered by retail outlets.
311) Explain the difference between breadth of line and depth of line. Be sure to include the
definition of scrambled merchandising in your explanation.
312) Why are vending machine prices often higher than those in a retail store?
313) Explain why direct mail and catalogs are an attractive form of retailing.
314) What is the retailing mix?
315) Explain the difference between a markup, an original markup, and a maintained markup.
316) Explain what a markdown is and its timing (i.e., when a retailer uses it).
317) What is off-price retailing? Identify and give an example of one variation of off-price
retailing.
318) List the four store locations or settings. How has the location of stores changed over the
years?
319) What is category management and when is it used?
320) Explain how the wheel of retailing works.
321) Describe the retail life cycle.
322) Explain the difference between full-service and limited-service merchant wholesalers. List
and describe the types of wholesalers that belong in each category.
323) Identify and describe the functions of agents and brokers.
