What are the characteristics of a store?

The essential characteristics of departmental stores are:

• Large size: A departmental store is a large scale retail organisation.
• Central location:
• Wide range of goods:
• Specialisation:
• Attractive appearance:
• Unified management:
• Amenities and services:
• Extensive advertising:

What is a chain store Class 11?

Chain Stores or Multiple Shops: Chain stores or multiple shops are networks of retail shops that are owned and operated by manufacturers or intermediaries. Under this type of arrangement, a number of shops with similar appearance are established in localities, spread over different parts of the country.

What are the concepts of retail?

Retailing Concept: Four Principles Every Retailer Should Know

• Customer orientation. The retailer determines the attributes and needs of its customers and endeavors to satisfy these needs to the fullest.
• Coordinated effort.
• Value-driven – Four unique management strategies.
• Goal orientation.

What makes retail unique?

What Makes Retail So Unique? Five factors, in particular, make retail a highly unique industry: Highly competitive, with no path for winner-take-all: Retail most certainly has market leaders, but the diversity of retailers and consumer preferences protect against it becoming a winner-take-all industry.

How chain stores are controlled?

Characteristics of Chain Stores or Multiple Shops All the stores deal in the same type of products. All the shops sell these products at uniform prices, which are determined by central management. All the shops are managed and controlled by the head office. All the stores make cash sales only.

Which is the best definition of a chain store?

A “chain store” or “retail chain” is a retail outlet in which several locations share a brand, central management, and standardized business practices. They have come to dominate the retail and dining markets, and many service categories, in many parts of the world. A franchise retail establishment is one form of chain store.

What makes a chain store or multiple shop?

Chain stores or multiple shops is a retail organization composed of two or more retail stores, owned by and operated under one management. A chain store is the number of retail stores operating under common ownership and management constitutes a chain. 1. Large Scale Retailing

What are the characteristics of a chain business?

These characteristics also apply to chain restaurants and some service-oriented chain businesses. In retail, dining and many service categories, chain businesses have come to dominate the market in many parts of the world.

What are the disadvantages of a chain store?

The main competitive disadvantage of chain store organizations is their centralized direction and their rigidly standardized operating procedures, which tend to limit individual selling units’ flexibility and hinder useful innovations. Chain stores also tend to offer fewer customer services than individual stores.