RETAIL MANAGEMENT CH 7, 8, 9, 10,
11, 12, 13 EXAM QUESTIONS &
VERIFIED PASSED ANSWERS
types of retail locations - Correct Answer ✔✔ unplanned locations
planned locations
gross leasable area
unplanned location - Correct Answer ✔✔ do not have centralized management that
determines what stores will be in a development
planned location - Correct Answer ✔✔ the shopping center and/or manager makes and
enforces policies tat govern store operations
gross leasable area - Correct Answer ✔✔ total floor area designed for the retailer's
occupancy
free standing sites - Correct Answer ✔✔ location for individual store unconnected to
other retailer
gentrification - Correct Answer ✔✔ bringing population back to the cities
shopping center - Correct Answer ✔✔ a group of retail and other commercial
establishments that is planned, developed, owned and managed as a single property
types of shopping centers - Correct Answer ✔✔ neighborhood and community centers
(strip centers)
power centers
enclosed malls
lifestyle centers
mixed use developments
outlet centers
theme/festival centers
omnicenters
pros/cons of neighborhood and community centers - Correct Answer ✔✔ + convenient
locations, easy parking, low occupancy costs
- limited trade area, lack of entertainment, no protection from weather
power centers - Correct Answer ✔✔ shopping centers that consist primarily of
collections of big-box retail stores such as discount stores (target), off price stores
, (marshall's), warehouse clubs (costco), and category specialist (Lowe's, Best Buy, Bed
Bath and Beyond)
pros/cons of shopping malls - Correct Answer ✔✔ + many different types of stores,
different assortments available, attracts many shoppers, never worry about weather
- occupancy costs are high, tenants may not like mall management control of
operations, competition can be intense, customers may not have time to stroll through a
mall
lifestyle centers - Correct Answer ✔✔ usually located in affluent residential
neighborhoods, upscale stores
Mixed Use Developments - Correct Answer ✔✔ combine several different uses into one
complex, including shopping centers, offices, hotels, residential complexes, civic
centers, and convention centers
outlet centers - Correct Answer ✔✔ shopping centers containing mostly manufactures
and retail outlet stores
theme/festival centers - Correct Answer ✔✔ located in places of historic interests or for
tourists, anchored by restaurants and entertainment facilities
omnicenters - Correct Answer ✔✔ combines enclosed malls, lifestyle center, and power
centers
convenience shopping - Correct Answer ✔✔ minimize the customer's effort to get the
product or service by locating store close to where customers are located
comparison shopping - Correct Answer ✔✔ customers have a good idea of what type of
product they want, but don't have a strong preference for brand, model or retailer.
Competing retailers locate near one another
specialty shopping - Correct Answer ✔✔ customers know what they want
designer labels
convenient location matters less
metropolitan statistical area - Correct Answer ✔✔ a city with 50,000 or more inhabitants
or an urbanized area of at least 50,000 inhabitants and a total MSA population of at
least 100,000
micropolitan statistical area - Correct Answer ✔✔ a city with only 10,000 inhabitants in
its core urban area
traffic flow - Correct Answer ✔✔ the number of vehicles and pedestrians that pass by
the site
11, 12, 13 EXAM QUESTIONS &
VERIFIED PASSED ANSWERS
types of retail locations - Correct Answer ✔✔ unplanned locations
planned locations
gross leasable area
unplanned location - Correct Answer ✔✔ do not have centralized management that
determines what stores will be in a development
planned location - Correct Answer ✔✔ the shopping center and/or manager makes and
enforces policies tat govern store operations
gross leasable area - Correct Answer ✔✔ total floor area designed for the retailer's
occupancy
free standing sites - Correct Answer ✔✔ location for individual store unconnected to
other retailer
gentrification - Correct Answer ✔✔ bringing population back to the cities
shopping center - Correct Answer ✔✔ a group of retail and other commercial
establishments that is planned, developed, owned and managed as a single property
types of shopping centers - Correct Answer ✔✔ neighborhood and community centers
(strip centers)
power centers
enclosed malls
lifestyle centers
mixed use developments
outlet centers
theme/festival centers
omnicenters
pros/cons of neighborhood and community centers - Correct Answer ✔✔ + convenient
locations, easy parking, low occupancy costs
- limited trade area, lack of entertainment, no protection from weather
power centers - Correct Answer ✔✔ shopping centers that consist primarily of
collections of big-box retail stores such as discount stores (target), off price stores
, (marshall's), warehouse clubs (costco), and category specialist (Lowe's, Best Buy, Bed
Bath and Beyond)
pros/cons of shopping malls - Correct Answer ✔✔ + many different types of stores,
different assortments available, attracts many shoppers, never worry about weather
- occupancy costs are high, tenants may not like mall management control of
operations, competition can be intense, customers may not have time to stroll through a
mall
lifestyle centers - Correct Answer ✔✔ usually located in affluent residential
neighborhoods, upscale stores
Mixed Use Developments - Correct Answer ✔✔ combine several different uses into one
complex, including shopping centers, offices, hotels, residential complexes, civic
centers, and convention centers
outlet centers - Correct Answer ✔✔ shopping centers containing mostly manufactures
and retail outlet stores
theme/festival centers - Correct Answer ✔✔ located in places of historic interests or for
tourists, anchored by restaurants and entertainment facilities
omnicenters - Correct Answer ✔✔ combines enclosed malls, lifestyle center, and power
centers
convenience shopping - Correct Answer ✔✔ minimize the customer's effort to get the
product or service by locating store close to where customers are located
comparison shopping - Correct Answer ✔✔ customers have a good idea of what type of
product they want, but don't have a strong preference for brand, model or retailer.
Competing retailers locate near one another
specialty shopping - Correct Answer ✔✔ customers know what they want
designer labels
convenient location matters less
metropolitan statistical area - Correct Answer ✔✔ a city with 50,000 or more inhabitants
or an urbanized area of at least 50,000 inhabitants and a total MSA population of at
least 100,000
micropolitan statistical area - Correct Answer ✔✔ a city with only 10,000 inhabitants in
its core urban area
traffic flow - Correct Answer ✔✔ the number of vehicles and pedestrians that pass by
the site
