A specialty store is not only a type of store, but also a method of retail operations. Describe the specialty store strategy. Then name two examples of specialty stores.
What will be an ideal response?
Specialty stores specialize in a given type of merchandise such as children's clothing, men's clothing, candy, baked goods, sporting equipment, or pet supplies. Specialty stores carry a narrow assortment of merchandise but a very deep product selection. Specialty stores typically offer more customer service and more knowledgeable salesclerks.
Prices and gross margins tend to be high, but this is of secondary importance to the customer who strongly values distinctive merchandise, attractive stores, and quality personnel.
Examples of specialty stores include Benetton, Victoria's Secret, The Body Shop, Footlocker, and Crate & Barrel.
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At the time that a purchasing orders goods and services, the process is likely to interact with all of the following data stores except the:
a. purchase receipts data b. vendor master data c. inventory master data d. purchase order master data
The courts generally infer an intent to deceive from the fact that the defendant knowingly made a misstatement to a plaintiff who was likely to rely on it.
Answer the following statement true (T) or false (F)
A product consists of four components with reliabilities of 0.85, 0.87, 0.89, and 0.91, respectively. The first and third components each have a backup with reliabilities of 0.95 and 0.90, respectively. Calculate and indicate product reliability.
A. 77.71% B. 62.80% C. 39.40% D. 89.10%
Big Market purchases different fruits from local farmers and then sells them to local restaurants and retailers. If the fruits rot before Big Market sells them, the store takes the loss. As an intermediary, Big Market is performing the function of ________.
A. channeling B. risk-taking C. market research D. financing E. sorting