Identify and Explain at Least Three Ways That Retailers Can

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The Answer is Retail outlets are classified according to a number of criteria.They can be compared by the extent of the manager's ownership.Some are independent retailers (e.g., a local artist's gallery, the local florist, a village baker), and others are branded store chains (e.g., Clarks, Timberland) or franchises (e.g., Sonic, Midas).Alternatively, we can categorize retailers by their level of service, which tends to be positively related to their price points, from Costco and SuperValu to Neiman Marcus and Macy's.
Most frequently though, marketers and industry discussions classify stores by their product lines.Specialty stores carry depth but not breadth; e.g., a store may carry only men's athletic shoes, but it does not carry table linens or children's clothing.The product assortment is broader at general merchandise retailers, such as department stores, which carry shoes, linens, and kids' clothes, but perhaps not as many brands of men's athletic shoes as the specialty shoe store.Other general retailers include the monster-sized mass merchandisers (e.g., discount warehouse clubs like Costco or Sam's or hypermarkets), or smaller general stores, such as convenience stores and drugstores.

Identify and Explain at Least Three Ways That Retailers Can

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