Chapter 15- 314 AGEC

1. How do retail stores attract customers; what characteristics do successful stores have? Discuss at least five characteristics (25 points)

2. Explain how franchising works and the costs involved in franchising. Why do people do franchising? (20 points)

3. Describe the alternatives (at least 3) to traditional supermarkets and their benefits. (15 points)

4. List and describe the two major types of merchandising. Who uses each? (30 points)

5. Describe what causes the differences in markup. What product category in a meat department tends to have the highest markups and profit? Explain why this is the case? (30 points)

6. Describe the relationship of specials at the retail level and supplies at the farm level. (30 points)