Tag: forms of large scale retail stores

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

Name the fixed shop large retailer which have certain flexibility in respect of the goods marketed.

  1. Mail order housing

  2. Chain stores

  3. Departmental stores

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

Departmental stores offer a wide variety of goods and have the flexibility to adjust their product mix based on consumer demand. Mail order houses and chain stores typically have more rigid product ranges.

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

Name the fixed shop large retailer which satisfies all the needs of customers under one roof.

  1. Chain stores

  2. Consumer cooperative store

  3. Mail order housing

  4. Departmental stores
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

A department store is a retail establishment offering a wide range of consumer goods in different product categories known as "departments".

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

Name a fixed shop large retailer in which the number of shops with similar appearances are located in different parts of the country.

  1. Chain stores

  2. Departmental stores

  3. Mail order houses

  4. Consumer cooperative store
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Chain stores, also known as multiple shops, are characterized by having multiple branches across the country with identical appearances and standardized operations. This allows for brand consistency.

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

Name the advantages offered by Multiple shops to its customers.

  1. Economies of scale

  2. Low cost

  3. Diffusion of risk

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

Multiple shops benefit from economies of scale due to centralized purchasing, which lowers costs. They also spread risk across many locations, making 'All of the above' the correct answer.

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

What restricts the purchasing power of buyers from Super markets?

  1. No credit facility.

  2. No personal attention.

  3. Huge operating costs.

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

Buyers power refers to the pressure buy can exert on businesses by raising prices, lowering quality, or reducing the availability of their products. Further more, a strong buyer can make an industry more competitive and decrease the profit potential for the buyer.

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

The chances of incurring loses in departmental stores are high as a result of _________________.

  1. high operating costs

  2. large scale operations

  3. small scale operations

  4. both A and B
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Departmental stores have high operating costs due to their large size, extensive services, and prime locations. These high costs, combined with the risks inherent in large-scale operations, increase the potential for losses.

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 main characteristics of Super markets?

  1. They have wide variety and assortment.

  2. Self-Service

  3. Heavy emphasis on merchandising appeal.

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

Characteristics of Supermarket 

(i) They are located in the main shopping centres of an area with adequate parking facilities.

(ii) They function on cash-and-carry lines and offer no credit.

(iii) There are no selling counters or selling assistants to help the customers.

(iv) They stock a very wide range of food and non-food products, particularly meat products, dairy products, tinned food, bakery items, vegetables and other household products.

(v) They are large retail organisations and are a useful channel of distribution.

(vi) They have low sales overheads since no salesmen are employed.

(vii) The products stored in a super market are properly packed and placed on separate racks in order to facilitate purchasing by the buyer.

(viii) It is one of the leading methods of retailing in the USA.

(ix) They use mass displays of goods, have low prices and operate on self-service basis.

(x) The buyer is completely at ease while buying as there is no undue sales pressure by counter salesmen.


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

Some of the services offered by departmental stores to its customers includes_________________.

  1. home delivery of goods

  2. execution of telephone orders

  3. grant of credit faciities

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

Departmental stores are known for providing a high level of customer service, including home delivery, telephone order processing, and credit facilities to attract and retain customers.

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

Name the retailer enterprise in which sales are made strictly on cash basis.

  1. Chain stores

  2. Departmental stores

  3. Consumer cooperative store

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

Chain stores (multiple shops) typically operate on a strict cash-and-carry basis to minimize the risk of bad debts and simplify accounting across many locations.

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

Why are the prices of goods lower in super markets than in other retail stores?

  1. Because of bulk purchasing.

  2. Low profit margins.

  3. Both A and B

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

A super market is a large retailing business unit selling wide variety of consumer goods on the basis of low margin appeal, wide variety and assortment, self-service and heavy emphasis on merchandising appeal.

The prices of the products are generally lower than other types of retail stores because of bulk purchasing, lower operational cost, and low profit margins.