Questions and Answers
What type of retailer carries a narrow product line with a deep assortment?
What is a department store?
A store that carries several product lines, each operated as a separate department managed by specialists.
What is a supermarket?
A relatively large, low-cost, self-service operation for grocery and household products.
What defines a convenience store?
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What is a discount store?
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What is an off-price retailer?
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What is a superstore?
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What is a category killer?
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Study Notes
Types of Retailers
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Specialty Store
- Offers a narrow product line with a deep selection, focusing on specific categories.
- Examples include REI (outdoor gear), Radio Shack (electronics), and Williams-Sonoma (kitchenware).
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Department Store
- Features multiple product lines, including clothing and home goods, organized into separate departments.
- Managed by specialist buyers, examples include Macy's, Sears, and Neiman Marcus.
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Supermarket
- A large, self-service store designed to meet all grocery and household product needs at low costs.
- Operates on a low-margin, high-volume model with examples like Kroger, Safeway, and Publix.
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Convenience Store
- A small store typically located in residential areas, open long hours to provide quick access to high-turnover products.
- Prices are slightly higher due to the convenience factor, with examples including 7-Eleven and Circle K.
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Discount Store
- Sells standard merchandise at lower prices while operating on lower margins and higher sales volume.
- Notable examples are Walmart, Target, and Kohl's.
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Off-Price Retailer
- Offers merchandise purchased at lower-than-regular wholesale prices, often including leftover goods and overruns.
- Examples include TJ Maxx (independent) and warehouse clubs like Costco and Sam's Club.
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Superstore
- A very large store that caters to consumers' total needs for both food and nonfood items.
- Examples include Walmart Supercenter and SuperTarget; also features category killers like Best Buy.
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Category Killer
- A specialized store that offers an extensive selection of a particular category, often out-competing local retailers.
- Staffed by knowledgeable employees, with examples like Home Depot and PetSmart.
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Description
Explore different types of retailers through this engaging set of flashcards. Learn the definitions and examples of specialty stores and department stores. Perfect for students and professionals in retail management.
