Identify and describe the different types of retailers, based on their product lines. Provide an example of each type of retailer

Question

What will be an ideal response?

Answer 1

Student answers will vary.
-Specialty stores are stores with narrow product lines and deep assortments within those lines. Examples include REI, Sephora and Williams-Sonoma.
-Department stores carry a wide variety of product lines, each operated as a separate department. Examples include Macy's and Neiman Marcus.
-Supermarkets are large, low-cost, self-service stores that carry a wide variety of grocery and household products. Examples include Safeway and Kroger.
-Convenience stores are small stores, open long hours, that carry a limited line of high-turnover convenience goods. Examples include 7-Eleven, Stop-N-Go, and Circle K.
-Superstores are much larger than supermarkets and offer a large assortment of routinely purchased food products, nonfood items, and services. Examples include Walmart and Target.
-Category killers are giant specialty stores that carry a very deep assortment of a specific product line. Examples include Best Buy, Home Depot, and PetSmart.
-Service retailers are retailers whose product line is actually a service; examples include hotels, airlines, banks, colleges, and many others. Specific examples include Holiday Inn, Southwest Airlines, and SuperCuts.