Which of the Following Is a Difference Between Off-Price Retailers

question 3

Multiple Choice

Which of the following is a difference between off-price retailers and specialty shops?

• A)Off-price retailers replenish inventory items that are sold,while specialty shops never replenish inventory items that are sold.
• B)Off-price retailers employ a hybrid retail operating model,while specialty shops employ a mass merchandising retail operating model.
• C)Off-price retailers focus on lean inventory management,while specialty shops are supported by an agile approach to inventory.
• D)Off-price retailers adopt a high-service approach,while specialty shops de-emphasize customer service and product selection.

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Definitions:

Egocentrism

The psychological tendency to view the world from one's own perspective while having difficulty understanding other viewpoints.

Conservation

Conservation involves the protection, preservation, management, or restoration of natural environments, wildlife, and natural resources.

Preoperational

A stage in Piaget's theory of cognitive development, typically from ages 2 to 7, where children are unable to understand concrete logic and are instead focused on manipulation of symbols and language.

Concrete Operational

A phase in Piaget's model of cognitive growth where kids develop the skill to reason logically regarding tangible occurrences.