Which of the Following Statements Is True About Specialty Stores

question 21

Multiple Choice

Which of the following statements is true about specialty stores?

• A) They tailor their retail strategy toward very specific market segments.
• B) They group products by brand instead of product category like in department stores.
• C) They offer very shallow and narrow assortments.
• D) They completely avoid including their own private-label brands in the store.
• E) They discourage sampling.

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Definitions:

Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale, leading to increased interconnectedness and interdependence of economies worldwide.

Technological Advancements

The progress in technology which enhances efficiency, productivity, and capabilities in various industries.

Transportation Costs

Expenses incurred in moving goods and services from one location to another, significantly impacting trade and the final price of products.

North American Free Trade Agreement

A trilateral trade bloc in North America created by Canada, Mexico, and the United States to reduce trading costs, increase business investment, and help North America be more competitive in the global marketplace.