Research indicates that products that are differentiated, address significant customer issues, and provide strong value are more successful. Engaging customers in the innovation process can lead to significantly better returns and growth.Specialty store A retail store that carries a narrow product line with a deep assortment within that line.
Department store A retail organization that carries a wide variety of product lines each line is operated as a separate department managed by specialist buyers or merchandisers.
Supermarket Alarge,low-cost,low-margin, highvolume, self-service store that carries a wide variety of grocery and household products.Convenience store A small store, located near a residential area, that is open long hours seven days a week and carries a limited line of highturnover convenience goods.
Superstore A store much larger than a regular supermarket that offers a large assortment of routinely purchased food products, nonfood items,and services.
Category killer A giant specialty store that carries a very deep assortment of a particular line and is staffed by knowledgeable employees.
Service retailer A retailer whose product line is actually a service, including hotels, airlines, banks, colleges, and many others.Discount store
A retail operation that sells standard merchandise at lower prices by accepting lower margins and selling at higher volume.
Off-price retailer
A retailer that buys at less-than-regular wholesale prices and sells at less than retail. Examples are factory outlets, independents, and warehouse clubs.
Factory outlet
An off-price retailing operation that is owned and operated by a manufacturer and normally carries the manufacturer’s surplus, discontinued, or irregular goods.