Which of the Following Is True About Convenience Stores

question 52

Multiple Choice

Which of the following is true about convenience stores?

• A) They handle deep assortments in a limited number of product categories.
• B) They compete on the basis of offering a good selection in a number of different product categories and offering lower prices on products in their large assortments.
• C) They are retailers whose primary advantages to consumers are suitable location, close-in parking, and easy entry and exit.
• D) They are large, low-priced limited-line retail chains that attempt to dominate a particular product category.

Recognize the effect of the availability heuristic on risk assessment and decision-making.

Understand how behavioral biases influence perceptions of gains and losses.

Understand and describe the stages of group development.

Recognize the relationship between group size and various group dynamics such as cohesiveness, performance, and member participation.

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Definitions:

Learned Behavior

A changed behavior acquired through experience.

Ethological Displacement

A behavior that occurs when an animal or human engages in an unrelated activity to reduce stress or tension when the normal response is thwarted or impossible.

Redirected Behavior

Behavior redirected from its original target to another object or individual, often seen in animals when the primary target of an action is inaccessible.

Ambivalent Behavior

Actions or attitudes that exhibit simultaneous, often conflicting feelings towards a person, object, or situation, such as love and hate.