Which of the following is an opportunity for retailers to develop a sustainable competitive advantage?
A. Reduced prices
B. Deeper assortment
C. Longer hours of operation
D. Good customer service
E. Coupons
Answer: D
Retail
- Breanne was walking across campus to her chemistry lab when she noticed an area that had Victoria Secret merchandise that was not there earlier in the week. This retail format would be an example of a ______.
- Developers will usually look for ____________ to build lifestyle centers.
- The retailers that attract a significant number of consumers and make the center more appealing for other retailers are ___________ stores.
- The major retailers, typically a large department store or big box store in a shopping center is referred to as the __________ store.
- What type of product will a consumer look for without regard to time, money or effort?
- The Hobby Shop features hand-crafts, model trains, cars and planes as well as classes. It doesn't matter where it is located as it seems to have a natural draw. What type of store is the Hobby Shop?
- Lowe's and Best Buy would most likely be found in a _________ shopping center.
- A(n) _____ is one in which the merchandise, selection, presentation, pricing, or other unique factor attract customers even if it is in an inconvenient location.
- When Rebekah took her kids to Kmart, she noticed a Little Caesar's Pizza restaurant near the entrance, which prompted her to stop for lunch. This restaurant is a great example of a/an:
- Why are airports such a profitable place to have a retail business?
- A shopping center that would include Dillard's, Sam's Club, JCPenney, Borders and Best Buy while combining a mall, lifestyle center and power center characteristics in a unified layout can best be described as a(n):
- The Home Laughlin China Company of Newel West Virginia manufactures Fiesta China in a variety of colors. The factory has a store where they feature Fiesta products that are discounted or discontinued. Patrons come in to shop with crates expecting to purchase the Fiesta products in large quantities. This type of store can be considered:
- Where would you most likely find a lifestyle center?
- The Watertower Place on Michigan Avenue in Chicago contains Saks Fifth Avenue, Nordstrom, many high-quality boutiques, amongst office space and residential condominiums. It is an example of a(n):
- Because of the open-air configuration of upscale specialty stores, coupled with entertainment and restaurants, ____________ are very convenient for shoppers.
- Shopping centers that focus on posh neighborhoods, high-income areas with an outdoor, traditional streetscape are considered to be _______.
- JC Penney has many Sephora cosmetic shops within its stores. This would be an example of a __________.
- What are some of the challenges being faced by malls?
- Which of the following statements about shopping malls is TRUE?
- Corleon needed a new jacket for the approaching cooler weather. She decided to drive twenty minutes to a shopping center. Once there, she searched for a parking spot, and walked to get to the stores. However, once inside, she could remain warm and walk leisurely to a variety of stores which carried the assortments she sought. Corleone was shopping in what type of shopping center?
- On his way home from work, Phil stopped at a shopping center. He parked in front of the dry cleaner, where he could pick up his suit. He did not have to move his car because next door was a gift shop where he could pick up a baby gift for his new niece. Conveniently enough, next door to that store was a Kroger supermarket, where he purchased essentials like milk and cornflake cereal. Phil was shopping in what type of shopping center?
- The anchor stores in a shopping mall are traditionally:
- Many companies are capitalizing on people being at the airports longer and not able to carry on much for personal health and beauty aids. A vending machine selling cosmetics and perfume at an airport is a _____________.
- Where is a central business district typically located?
- Why are retailers interested in locating in urban centers that have been through gentrification?