BUSINESS ADMINISTRATION
RETAIL MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Neighborhood Business District (NBD)
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Freestanding Retailers
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Secondary Business Distric (SBD)
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Shopping Centre or Mall
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Detailed explanation-1: -A chain store is one of the retail units in chain more system. In other words, a chain store (multiple shops) is a group of retail stores essentially the same type, centrally owned and with some degree of centralised control operations.
Detailed explanation-2: -Chain stores are groups of retail outlets that operate under central ownership and management and handle the same product lines. Chain stores usually obtain merchandise at lower prices from manufacturers compared to their independent rivals.
Detailed explanation-3: -A neighborhood business district (NBD) satisfies the convenience-shopping and service needs of a neighborhood. The largest store is a supermarket, a large drugstore, or a variety store. An NBD is located on the major street in a residential area.
Detailed explanation-4: -The selection of the store site can be a non systematic process, which is based on gut feeling or environmental observation or an imitation of competitors (or near competitors) On the other hand, it may be a systematic process, which would be based on certain parameters and steps to be followed.