MAR3231 (UF) EXAM 1 {LATEST 2026 -2027
update} QUESTIONS AND ANSWERS 100%
CORRECT
Department stores are increasing their - correct answer exclusive merchandise,
increasing private label merchandise, and expanding their multichannel presence to
deal with eroding market share.
Full-line discount stores - correct answer retailers that offer a large variety of
merchandise at low prices with limited service. (Walmart, Kmart, Target)
Category specialists - correct answer also known as category killers, are big-
box/discount stores that have lower variety but deep assortment of merchandise with
a self-service approach. (Bass Pro Shops, Home Depot, Staples)
,Specialty Stores- Single Brand or Private Label - correct answer offer complementary
merchandise with deep assortments and focus on a higher level of customer service.
Basically, stores in malls. (Victoria's Secret, Sephora, Abercrombie)
Resale stores - correct answer retailers that sell used goods and include thrift stores
and consignment shops.
Drugstores - correct answer are specialty stores that concentrate health and beauty
care with pharmaceuticals and cosmetics. (Walgreens, CVS, Rite Aid)
Extreme-value retailers (dollar stores) - correct answer small discount stores with
low prices and service and offering a broad variety but shallow assortment of goods.
(Family Dollar Stores, Dollar General)
,Off-price retailers - correct answer offer an inconsistent assortment of brand-name
merchandise at a significant discount but with an irregular assortment from closeouts
and irregulars. Online variant is flash sales and manufacturing owned outlet stores.
(TJ Maxx, Marshalls)
Service retailers - correct answer are firms that primary sell services rather than
goods. (laundromat, jiffy lube)
Service and merchandise retailers differ in four aspects: - correct answer
ointangibility: difficult for customers to evaluate because they cannot touch it
Osimultaneous production and consumption: services produced and consumed at the
same time
Operishability; unsold airplane seats
Oinconsistency: food servers in good/bad moods
, Independent, single-store establishments - correct answer one owner, one store. (95%
of all US retailers)
Store Channel benefits: - correct answer Browsing, Touching and feeling, Personal
service, Cash and credit payment, Entertainment and social interaction, Immediate
gratification. Risk Reduction
Catalog channel benefits: - correct answer Convenience, Information, Safety
Internet channel benefits: - correct answer Broader Selection, Less Time
Consumption, More and Better Information to Evaluate Merchandise
update} QUESTIONS AND ANSWERS 100%
CORRECT
Department stores are increasing their - correct answer exclusive merchandise,
increasing private label merchandise, and expanding their multichannel presence to
deal with eroding market share.
Full-line discount stores - correct answer retailers that offer a large variety of
merchandise at low prices with limited service. (Walmart, Kmart, Target)
Category specialists - correct answer also known as category killers, are big-
box/discount stores that have lower variety but deep assortment of merchandise with
a self-service approach. (Bass Pro Shops, Home Depot, Staples)
,Specialty Stores- Single Brand or Private Label - correct answer offer complementary
merchandise with deep assortments and focus on a higher level of customer service.
Basically, stores in malls. (Victoria's Secret, Sephora, Abercrombie)
Resale stores - correct answer retailers that sell used goods and include thrift stores
and consignment shops.
Drugstores - correct answer are specialty stores that concentrate health and beauty
care with pharmaceuticals and cosmetics. (Walgreens, CVS, Rite Aid)
Extreme-value retailers (dollar stores) - correct answer small discount stores with
low prices and service and offering a broad variety but shallow assortment of goods.
(Family Dollar Stores, Dollar General)
,Off-price retailers - correct answer offer an inconsistent assortment of brand-name
merchandise at a significant discount but with an irregular assortment from closeouts
and irregulars. Online variant is flash sales and manufacturing owned outlet stores.
(TJ Maxx, Marshalls)
Service retailers - correct answer are firms that primary sell services rather than
goods. (laundromat, jiffy lube)
Service and merchandise retailers differ in four aspects: - correct answer
ointangibility: difficult for customers to evaluate because they cannot touch it
Osimultaneous production and consumption: services produced and consumed at the
same time
Operishability; unsold airplane seats
Oinconsistency: food servers in good/bad moods
, Independent, single-store establishments - correct answer one owner, one store. (95%
of all US retailers)
Store Channel benefits: - correct answer Browsing, Touching and feeling, Personal
service, Cash and credit payment, Entertainment and social interaction, Immediate
gratification. Risk Reduction
Catalog channel benefits: - correct answer Convenience, Information, Safety
Internet channel benefits: - correct answer Broader Selection, Less Time
Consumption, More and Better Information to Evaluate Merchandise
