Test your basic knowledge |

Retail Strategy

Instructions:

Answer 29 questions in 15 minutes.
If you are not ready to take this test, you can study here.
Match each statement with the correct term.
Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.

1. Supermarkets
Sale of product - credit - service - and warranty add-ons
Were primarily food products but have expanded into non-food products - & have SELF-SERVICE
During urban growth
Reduces sales staff

2. Social Media examples
Reduces channel costs
Physical location - internet location - size of stores - # of stores in trading area
Push sales through social media - use twitter to fix customer complaints - use apps to draw in shoppers
Internet technology

3. Internet retailers innovation
Make a sale - collect the money - buy the diamonds from wholesalers - and then drop ship from wholesaler to customer
Affluence - compete on price base
Reduce logistic costs
Internet technology

4. Online jewelrer Blue Nile
Reduces sales staff
Physical location - internet location - size of stores - # of stores in trading area
Make a sale - collect the money - buy the diamonds from wholesalers - and then drop ship from wholesaler to customer
Academy - trader joes - mens wearhouse

5. Discount store examples
Coke and pepsi pay to have displays 26 weekends in a year each
Internet technology
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston
Physical location - internet location - size of stores - # of stores in trading area

6. Discount stores
Interior design companies - custom home builders - home carpet companies
Compete on price - volume-oriented - limited assortment sizes
Internet technology
Retail stores online - retail stores and add internet - internet stores only - internet stores and add retail stores

7. Self- service cost savings
Internet technology
Physical location - internet location - size of stores - # of stores in trading area
Make a sale - collect the money - buy the diamonds from wholesalers - and then drop ship from wholesaler to customer
Reduces sales staff

8. Retail promotion examples
Sale of product - credit - service - and warranty add-ons
High markups - lots of services - broad product lines
Special aisle displays - store coupons - store demonstrations
Coke and pepsi pay to have displays 26 weekends in a year each

9. Specialty market innovation
Affluence - compete on price base
Macys - Neimen Marcus - Dillards
Breakup of markets
Reduces sales staff

10. Display allowances in many supermarkets
Breakup of markets
Were primarily food products but have expanded into non-food products - & have SELF-SERVICE
Coke and pepsi pay to have displays 26 weekends in a year each
Reduces channel costs

11. Department stores
High markups - lots of services - broad product lines
Warby parker - blinds.com - blue nile jewelry - real estate - 1-800-Flowers.com
Coke and pepsi pay to have displays 26 weekends in a year each
Academy - trader joes - mens wearhouse

12. Retail Product/Service examples
Store brand products - degree of self-service - leased products/services
Macys - Neimen Marcus - Dillards
During depression
Product/service - pricing - promotion - distribution/location

13. Retail Market Mix
Special aisle displays - store coupons - store demonstrations
Product/service - pricing - promotion - distribution/location
Push sales through social media - use twitter to fix customer complaints - use apps to draw in shoppers
Macys - Neimen Marcus - Dillards

14. Discounter innovation
Reduce logistic costs
Store brand products - degree of self-service - leased products/services
High markups - lots of services - broad product lines
Affluence - compete on price base

15. Specialty Retailers
Focus on SPECIFIC customer market - stock products in depth
Reduces sales staff
Internet technology
Interior design companies - custom home builders - home carpet companies

16. Internet strategies in Real Estate
Academy - trader joes - mens wearhouse
During urban growth
Product/service - pricing - promotion - distribution/location
List everywhere - social networking - video tours - texting

17. Great affiliate of blinds.com
High markups - lots of services - broad product lines
Interior design companies - custom home builders - home carpet companies
Warby parker - blinds.com - blue nile jewelry - real estate - 1-800-Flowers.com
Academy - trader joes - mens wearhouse

18. Supply Chains cost savings
Interior design companies - custom home builders - home carpet companies
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston
Compete on price - volume-oriented - limited assortment sizes
Reduce logistic costs

19. Department store examples
Special aisle displays - store coupons - store demonstrations
Store brand products - degree of self-service - leased products/services
Macys - Neimen Marcus - Dillards
Push sales through social media - use twitter to fix customer complaints - use apps to draw in shoppers

20. Retail Pricing examples
Push sales through social media - use twitter to fix customer complaints - use apps to draw in shoppers
Everyday low prices - weekend lower prices - cheaper prices with store credit card
Reduces channel costs
During depression

21. Department store innovation
Compete on price - volume-oriented - limited assortment sizes
Reduces channel costs
Macys - Neimen Marcus - Dillards
During urban growth

22. Supermarket innovation
Reduce logistic costs
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston
During depression
Academy - trader joes - mens wearhouse

23. Retail Distribution/location examples
Physical location - internet location - size of stores - # of stores in trading area
Warby parker - blinds.com - blue nile jewelry - real estate - 1-800-Flowers.com
Academy - trader joes - mens wearhouse
Coke and pepsi pay to have displays 26 weekends in a year each

24. Internet retailer examples
Reduce logistic costs
Reduces sales staff
Were primarily food products but have expanded into non-food products - & have SELF-SERVICE
Warby parker - blinds.com - blue nile jewelry - real estate - 1-800-Flowers.com

25. Retail location choices
Retail stores online - retail stores and add internet - internet stores only - internet stores and add retail stores
During depression
During urban growth
Push sales through social media - use twitter to fix customer complaints - use apps to draw in shoppers

26. Specialty Retailer examples
Home Depot - Best Buy (walmart competition) - Container Store - Office Depot
Affluence - compete on price base
Product/service - pricing - promotion - distribution/location
Special aisle displays - store coupons - store demonstrations

27. Internet selling cost savings
Physical location - internet location - size of stores - # of stores in trading area
Reduces sales staff
List everywhere - social networking - video tours - texting
Reduces channel costs

28. Concentrated Niches Examples
Academy - trader joes - mens wearhouse
Sale of product - credit - service - and warranty add-ons
Reduce logistic costs
High markups - lots of services - broad product lines

29. Retail revenue streams
High markups - lots of services - broad product lines
Academy - trader joes - mens wearhouse
Sale of product - credit - service - and warranty add-ons
Compete on price - volume-oriented - limited assortment sizes