Tag: forms of large scale retail stores

Quizzes (0) Questions (30)

Questions Related to forms of large scale retail stores

Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

Which of the following is not a fixed shop large retailer?

  1. General stores

  2. Chain Stores or Multiple Shops

  3. Departmental stores

  4. None of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A general merchant store (also known as general merchandise store, general dealer or village shop) is a rural or small town store that carries a general line of merchandise.

General goods are basic items, usually needed for everyday survival, including basic drinks, food, and some basic profession or trade skill tools. Vendors for these items can be found in just about every major city or village.

Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

Each retail shop in case of chain stores is under the direct control of the ____________.

  1. head office

  2. branch manager

  3. inspectors

  4. none of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

In the context of chain stores, each individual retail outlet is typically managed by a branch manager who reports to the head office.

Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

The departmental store caters to the needs of relatively_________________ of people.

  1. high income group

  2. low income group

  3. Both A and B

  4. None of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A high income economy is defined by the World Bank as a country with a gross national income per capita US$12,056 or more in 2017, calculated using the Atlas method. While the term "high income" is often used interchangeably with "First World" and "developed country", the technical definitions of these terms differ.

Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

Goods are kept on racks with clearly labelled price and quality tags in such stores. This is a feature of which of the following store?

  1. Consumer Cooperative Store

  2. Super Markets

  3. Mail Order Houses

  4. Any of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

A supermarket is a self-service shop offering a wide variety of food and household products, organized into sections and shelves. It is larger and has a wider selection than earlier grocery stores, but is smaller and more limited in the range of merchandise than a hypermarket or big box market.

Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

Major disadvantage of large shop retailers are that they lack in providing personalized service to the customers.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Disadvantages of large-scale retail businesses

  • Less ability to offer personal service

A small retailer may know all his clients personally due to constant interaction with them. He would know the tastes and preferences of his clients to be able to offer them a better personalized service, catering for their unique needs. A large retailer would not be able to do this as its aim is to sell, sell and sell. Time is money is such a large business and the more rapidly it sells, the higher the profit. Special small orders from customers are rarely accepted, especially if these do not generate enough cash to generate the required rate of return for the business. The customer may be considered nothing more than a number in a large superstore, but he would be a treasured regular customer for the small retail store.

  • Labour problems

The fact that it is constrained by time, pressure is transferred to the large retail store’s staff, which is expected to do more in less time. Most of the work is repetitive and they can hardly engage in conversations with the client or with colleagues. This leads to lower morale on the place of work and more costs of recruitment and retraining if workers regularly resign from their work.

  • Less control over pilfering

With a huge surface area full of thousands of items, it is difficult to have eyes all over the place to control pilfering. Large retailers are faced with the problem of people stealing small amounts from the shelves while no one is looking.  The temptation to steal is higher in a large shop than it is in a smaller shop where it is easier to be spotted by someone. Thieves may also think that it is less likely for larger retailers to notice occasional pilfered items due to the large quantities of material. Shoplifters are regularly convicted by large retailers than they are by the smaller ones. The business is faced with a loss-loss situation where it either invests in security or else it suffers the loss of pilferage. 


Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

By selling directly to the consumers, the multiple-shop organisation is able to eliminate unnecessary middlemen in the sale of goods and services.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

It is an approach to operating a retail business in which you offer products to customers through multiple retail channels. Brick-and-mortar stores, catalogs and the Internet are three primary multiple channels used by many retailers, but other, smaller retail formats exist as well.

Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

Name a large shop retailer that is generally formed as a Joint stock company managed by a board of directors.

  1. Chain stores

  2. Departmental Stores

  3. Mail order houses

  4. None of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Departmental stores are large-scale retail organizations that are typically structured as joint stock companies. They are managed by a board of directors and offer a wide variety of goods under one roof.

Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

What are the advantages of departmental stores?

  1. They attract large umber of customers.

  2. Convenience in buying.

  3. Attractive services.

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Departmental stores are known for their convenience, wide range of products, and attractive services like home delivery and credit facilities. Since all these are valid advantages, 'All of the above' is the correct choice.

Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

Operating costs of running a supermarket is less because of which of the following factors?

  1. Being operational on a large scale

  2. Central location

  3. No bad debts

  4. One roof, low cost
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A supermarket - Offering a wide variety of food and household products, organized into sections and shelves. It is larger and has a wider selection than earlier  but is smaller and more limited in the range of merchandise .

The supermarket typically has aisles for meat, fresh dairy, and baked goods. Shelf space is also reserved for canned and packaged goods and for various non-food items such as kitchenware, household cleaners, pharmacy products and pet supplies. Some supermarkets also sell other household products that are consumed regularly, such as alcohol (where permitted), medicine, and some sell a much wider range of non-food products: DVDs, sporting equipment, board games, and seasonal items (e.g., Christmas wrapping paper in December).

Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

The ________  may raise costs in super markets.

  1. lack of personal attention

  2. requirement of huge capital

  3. high overhead expenses

  4. mishandling of goods by customers
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

One of the most basic reasons companies raise prices on their products and services is to adjust to increased business costs. A product reseller, for instance, might raise prices simply because its supplier raised prices on materials or finished goods.