What are the two categories of retail stores based on breadth of products offered, and what types of stores are in each category?
What will be an ideal response?
Many types of retail stores exist. One way to classify them is by the breadth of products they offer. Two general categories include general-merchandise retailers and specialty retailers.
A retail establishment that offers a variety of product lines that are stocked in considerable depth is referred to as a general-merchandise retailer. The types of product offerings, mixes of customer services, and operating styles of retailers in this category vary considerably. The primary types of general-merchandise retailers are department stores, discount stores, convenience stores, supermarkets, superstores, hypermarkets, warehouse clubs, and warehouse showrooms.
In contrast to general-merchandise retailers with their broad product mixes, specialty retailers emphasize narrow and deep assortments. Despite their name, specialty retailers do not sell specialty items (except when specialty goods complement the overall product mix). Instead, they offer substantial assortments in a few product lines. There are three types of specialty retailers: traditional specialty retailers, category killers, and off-price retailers.
You might also like to view...
When a manufacturer requests a behavior that is warranted under the contract, the manufacturer is using coercive power
Indicate whether the statement is true or false
The purpose of an audit is to
a. determine whether or not a company is a good investment. b. comply with income tax regulations. c. determine whether or not a company is a good credit risk. d. ascertain that the financial statements follow GAAP.
Which of the following information should be included at the beginning of a research report?
a. A brief explanation about the research design b. A clear, concise statement of the research objectives c. A detailed discussion on the methodology employed d. A short discussion on the major findings in the research
A unilateral contract is a court-imposed agreement to prevent the unjust enrichment of one party when the parties have not previously agreed to an enforceable contract
Indicate whether the statement is true or false