Retailing Management Exam 2 QUESTIONS WITH WELL
VERIFIED ANSWERS
What are advantages of an independent retailer? - answer☑️✔️..flexible, personalized service,
quick decision-making, control over investment costs, consistency, easier to manage personal
image
What are disadvantages of an independent retailer? - answer☑️✔️..lack of bargaining power,
labor intensive operations, over-dependence on owner
What is an example of an independent retailer? - answer☑️✔️..local boutique
What is an independent retailer? - answer☑️✔️..Single-store business owned by an individual
What is a chain retailer? - answer☑️✔️..two or more stores under common ownership.
What are advantages of a chain retailer? - answer☑️✔️..Bargaining power, efficiency
maintained by computerized, warehouse, sharing, and other functions, defined management
philosophy
What are disadvantages of a chain retailer? - answer☑️✔️..Less flexibility, higher investment
costs, complex managerial control, limited independence among personnel, and excessive
standardization due to extreme concern for bargaining power
What is an example of a chain retailer? - answer☑️✔️..Target
What is a franchise? - answer☑️✔️..Contractual agreement where a franchise operates using a
franchisor's brand and system.
, What are advantages of a franchise? - answer☑️✔️..Established brand and training/support
What are disadvantages of a franchise? - answer☑️✔️..franchise fees and limited control
What is an example of a franchise? - answer☑️✔️..McDonald's
What is a leased department? - answer☑️✔️..Department in a larger store rented to outside
vendor.
What is an example of a leased department? - answer☑️✔️..Walmart---- Tax services, BK, and
nails.
Advantages of a leased department? - answer☑️✔️..Provides one-stop shopping to customers,
lessees handle management, reduce store costs, provides a stream of revenue
Disadvantages of a leased department - answer☑️✔️..lessees may negate store image,
procedures may conflcit with department stores, problems may be blamed on department store
rather than lessee
What is a destination retailer? - answer☑️✔️..retailers that attract customers specifically to
visit them (not just convenience).
What are examples of a destination retailer? - answer☑️✔️..Trader Joe's, IKEA, Bass Pro
What are characteristics of a destination retailer? - answer☑️✔️..Unique merchandise, strong
brand identity, experiential shopping, and large assortment.
VERIFIED ANSWERS
What are advantages of an independent retailer? - answer☑️✔️..flexible, personalized service,
quick decision-making, control over investment costs, consistency, easier to manage personal
image
What are disadvantages of an independent retailer? - answer☑️✔️..lack of bargaining power,
labor intensive operations, over-dependence on owner
What is an example of an independent retailer? - answer☑️✔️..local boutique
What is an independent retailer? - answer☑️✔️..Single-store business owned by an individual
What is a chain retailer? - answer☑️✔️..two or more stores under common ownership.
What are advantages of a chain retailer? - answer☑️✔️..Bargaining power, efficiency
maintained by computerized, warehouse, sharing, and other functions, defined management
philosophy
What are disadvantages of a chain retailer? - answer☑️✔️..Less flexibility, higher investment
costs, complex managerial control, limited independence among personnel, and excessive
standardization due to extreme concern for bargaining power
What is an example of a chain retailer? - answer☑️✔️..Target
What is a franchise? - answer☑️✔️..Contractual agreement where a franchise operates using a
franchisor's brand and system.
, What are advantages of a franchise? - answer☑️✔️..Established brand and training/support
What are disadvantages of a franchise? - answer☑️✔️..franchise fees and limited control
What is an example of a franchise? - answer☑️✔️..McDonald's
What is a leased department? - answer☑️✔️..Department in a larger store rented to outside
vendor.
What is an example of a leased department? - answer☑️✔️..Walmart---- Tax services, BK, and
nails.
Advantages of a leased department? - answer☑️✔️..Provides one-stop shopping to customers,
lessees handle management, reduce store costs, provides a stream of revenue
Disadvantages of a leased department - answer☑️✔️..lessees may negate store image,
procedures may conflcit with department stores, problems may be blamed on department store
rather than lessee
What is a destination retailer? - answer☑️✔️..retailers that attract customers specifically to
visit them (not just convenience).
What are examples of a destination retailer? - answer☑️✔️..Trader Joe's, IKEA, Bass Pro
What are characteristics of a destination retailer? - answer☑️✔️..Unique merchandise, strong
brand identity, experiential shopping, and large assortment.
