60 Questions
Which entrepreneur opened the first department store, known as the Marble Dry Goods Palace?
Alexander T. Stewart
What were the drivers of success for department stores?
All of the above
Which population group had more options and cheaper prices than general stores?
Rural population
What business model was replicated in other cities shortly after the opening of the first department store?
Department Stores
What type of stores offered a large variety of goods at a discounted price?
Department Stores
What industry were trading stamps the precursor to?
Supermarkets
Which city was the headquarters of the company moved to in 1913?
New York City
In which year did the company have 2500 stores in the U.S., Mexico, U.K., and Canada?
1960
What is the name of the company's owner?
Woolworth
During which time period did the rise of small businesses occur?
1800's
What was the primary environment for the company's business?
Natural
What did the company help develop in 3rd world countries?
Trade agreements
In what year did JC Penney become the 3rd largest retailer?
1962
What were variety stores colloquially known as?
5-10 stores
Who founded the first variety chain store?
Frank Woolworth
When did Walgreens drug store chain emerge?
After the turn of the century
What is a franchise?
Name and corporate image of a national firm
Who founded KFC?
Colonel Harland Sanders
Which century saw the birth of multinationals?
19th century
What factors accelerated the growth of multinationals?
Faster transportation and communication
Which industry did American firms dominate in Mexico?
Mining
Which event led to the destruction of investments abroad?
World War II
What legislative actions paved the way for multinational growth after World War II?
Marshall Plan and Truman Doctrine
What is the estimated amount of cash Apple has offshore?
$230.2 billion
Which company organized its departments into specialized lines of goods, allowing it to surpass Montgomery Ward and become the leading mail-order firm?
Sears
When did Sears merge with Kmart?
2004
What caused the decline in same-store sales for both Sears and Kmart in the next two years after their merger?
Closing unprofitable stores
When did Sears declare bankruptcy?
2018
Which company began selling homes in its catalog in 1908?
Sears
What was the most expensive home sold in Sears' catalog in 1908?
$2,890
Which city was the headquarters of the company moved to in 1913?
New York City
What was the primary environment for the company's business?
Man Made
What industry did American firms dominate in Mexico?
Retail
Which entrepreneur opened the first department store, known as the Marble Dry Goods Palace?
John Wanamaker
What caused the decline in same-store sales for both Sears and Kmart in the next two years after their merger?
Mismanagement
Which century saw the birth of multinationals?
19th century
Approximately how many stores did JC Penney have when it became the 3rd largest retailer in 1962?
4,000
What was the colloquial name for variety stores?
Dime stores
In what year did Walgreens drug store chain emerge?
1909
What year did Woolworth become the largest chain store in the world?
1979
How many products are for sale at Walmart?
16,859,211
How many people does McDonald's feed every day?
68 million
Trading stamps were the precursor to which industry?
Franchises
Which entrepreneur opened the first department store, known as the Marble Dry Goods Palace?
Alexander T. Stewart
What were the drivers of success for department stores?
All of the above
Which industry did American firms dominate in Mexico?
Oil
What type of stores offered a large variety of goods at a discounted price?
Department stores
Which event led to the destruction of investments abroad?
World War II
Which company was founded in 1893 and eventually became the leading mail-order firm, surpassing Montgomery Ward?
Sears
What was the main factor that led to the success of A&P as a grocery chain in the 1860s?
Credit policy
Which company emerged as a major grocery chain in the 1860s and innovated the supermarket concept?
A&P
What was the primary reason for the rise of chain stores in smaller mid-sized cities?
Lack of department stores
Which company began selling homes in its catalog in 1908?
Sears
What percentage of women were in the workforce in 1920?
Approximately 40%
Which event led to the decline in same-store sales for both Sears and Kmart in the next two years after their merger?
The Smoot-Hawley Tariff
Which legislative action paved the way for multinational growth after World War II?
The Marshall Plan
What was the primary story in the retail industry over the next 10 years, according to the text?
The shift from traditional brick and mortar to e-commerce
What is the estimated amount of cash that U.S. corporations hold overseas?
$2.6 trillion
Which event led to the destruction of investments abroad for multinational corporations?
World War II
What was the primary factor that accelerated the growth of multinationals in the mid-19th century?
Maturation of local firms into national enterprises
Test your knowledge of JC Penney's growth in the retail industry with this pricing quiz. Find out how many stores JC Penney had when they became the 3rd largest retailer in 196
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