Which of the following statements about retailer marketing decisions is correct?

What are the three main types of off price retailers?

The three main types of off price retailers are:

  • independent off price retailers.
  • factory outlets.
  • warehouse clubs.

Which of the following sets of characteristics correctly classifies retailers?

a. Retailers can be classified in terms of several characteristics, including the amount of service they offer, the breadth and depth of their product lines, the relative prices they charge, and how they are organized.

What are the four major types of retail organization?

The major types of retail organizations are corporate chains, voluntary chains and retailer cooperatives, consumer cooperatives, franchise organizations, and merchandising…

How are retailers categorized?

Retail Formats can be classified into the following categories: Store Based: Store based formats can be further classified into two formats based on the basis of Ownership or Merchandise offered. … Service Based Classification: Such retailers specialize in providing different kinds of services to the end consumer.

What is an off price retailer?

Definition of ‘Off Price Retailers’

Definition: Off-price retailers are retailers who provide high quality goods at cheap prices. They usually sell second-hand goods, off-the-season items etc. Description: These retailers offer inconsistent assortment of brand name and fashion-oriented soft goods at low prices.

What are the different types of off price retailers?

o Off-Price Retailers: The three main types of off-price retailers are independent off-price retailers, factory outlets, and warehouse clubs. o Independent Off-Price Retailers: Off-price retailers charge lower prices than the discount stores.

Why do retailers need to identify products?

Product branding gives the items in your store an identity within the marketplace. Good branding can allow your specific products to stand out against what a competitor offers, and engender the kind of brand loyalty that pulls customers into your store (even when it’s just easier to grab something online).

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Why retailing is important in today’s business?

Consumers benefit from retailing is that, retailers perform marketing functions that makes it possible for customers to have access to a broad variety of products and services. Retailing also helps to create place, time and possession utilities. … Retailers provide the vital link between producers and ultimate consumers.

What is meant by retailing?

Retail is the process of selling consumer goods or services to customers through multiple channels of distribution to earn a profit. Retailers satisfy demand identified through a supply chain. … Retail markets and shops have a very ancient history, dating back to antiquity.

What are the major types of retailers?

This diversity in size and earnings is reflected in the range of different ownership and management structures, discussed below.

  • Department Stores. …
  • Chain Stores. …
  • Supermarkets. …
  • Discount Retailers. …
  • Warehouse Retailers. …
  • Franchises. …
  • Malls and Shopping Centers. …
  • Online Retailing.

What are the types of retail management?

Types of Retail Outlets

  • Department Stores. A department store is a set-up which offers wide range of products to the end-users under one roof. …
  • Discount Stores. …
  • Supermarket. …
  • Warehouse Stores. …
  • Mom and Pop Store (also called Kirana Store in India) …
  • Speciality Stores. …
  • Malls. …
  • E Tailers.

What are the different departments in a retail store?

Departments of a Centralized Retailer and their Role

  • Inventory/ Merchandise Department: This department of a centralized organization is responsible for managing the goods and services for its various chain stores. …
  • Marketing Department: …
  • Logistics (Distribution) Department: …
  • Personnel Department: …
  • Finance Department: …
  • Non-Store Operations: …
  • International Operations:
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What are the 4 types of merchandise?

Merchandise types:

  • Convenience goods. There are products in our lives which we simply cannot do without. …
  • Impulse goods. “Two-thirds of the entire economy is impulse buying.” – Paco Underhill, author of the book, Why We Buy: The Science of Shopping. …
  • 3 Shopping products. …
  • Speciality goods.

What is catalog retailing and its types?

What is Catalogue Retailing? Dissimilar to a self-serve retail store, a catalogue showroom (store) does not display all items. Customers view products from printed or online catalogues in the store and fill out an order blank.

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