In which one of the following types of store retailers, large, low-cost, low margin, high-volume, self-service store attributes are designed to meet total needs for food and household products?

Question

Question

This question was previously asked in

UGC NET Paper 2: Management July 2018

Answer 1

The correct answer is Supermarket

Supermarket: A supermarket is a sizable retail store that specialises on selling food and other household items and is generally run on a self-service system.
- This type of store is bigger and has a wider variety than older grocery stores, but it is smaller and offers a lower selection of goods than a hypermarket.
- Due to their size and purchasing power, supermarkets are able to negotiate lower pricing from producers, allowing them to provide products at comparatively inexpensive costs.
- A supermarket is a particular type of retail establishment with large, inexpensive, low-margin, high-volume, self-service shop features that are intended to cover all demands for food and household goods.
- For Example: Big Bazar

Hence, the correct answer is Supermarket.

Confusion Points

Superstore: Superstores are bigger than supermarkets, sell items at steep discounts, and also carry items for the house and apparel that are not really frequently seen in supermarkets.

Discount Store: Discount stores are a subset of department stores that sell a variety of goods, however others focus on particular products.
- Discount retailers use a high-volume, low-profit-margin strategy to offer goods at a lower price than other stores in the area.

Convenience Store: A convenience store is a small, nearby, easily accessible store that sells packaged items and everyday essentials like milk, bread etc.