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Test your basic knowledge |
Retail Strategy
Start Test
Study First
Subject
:
business-skills
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. Display allowances in many supermarkets
Special aisle displays - store coupons - store demonstrations
Macys - Neimen Marcus - Dillards
Reduce logistic costs
Coke and pepsi pay to have displays 26 weekends in a year each
2. Retail Product/Service examples
During urban growth
Store brand products - degree of self-service - leased products/services
Home Depot - Best Buy (walmart competition) - Container Store - Office Depot
Coke and pepsi pay to have displays 26 weekends in a year each
3. Discount store examples
Coke and pepsi pay to have displays 26 weekends in a year each
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston
Focus on SPECIFIC customer market - stock products in depth
List everywhere - social networking - video tours - texting
4. Retail Market Mix
Breakup of markets
Product/service - pricing - promotion - distribution/location
Warby parker - blinds.com - blue nile jewelry - real estate - 1-800-Flowers.com
Make a sale - collect the money - buy the diamonds from wholesalers - and then drop ship from wholesaler to customer
5. Department stores
Were primarily food products but have expanded into non-food products - & have SELF-SERVICE
High markups - lots of services - broad product lines
Focus on SPECIFIC customer market - stock products in depth
Compete on price - volume-oriented - limited assortment sizes
6. Specialty Retailers
Breakup of markets
Focus on SPECIFIC customer market - stock products in depth
Reduces sales staff
During depression
7. Department store examples
Internet technology
Academy - trader joes - mens wearhouse
Macys - Neimen Marcus - Dillards
Store brand products - degree of self-service - leased products/services
8. Retail Distribution/location examples
Retail stores online - retail stores and add internet - internet stores only - internet stores and add retail stores
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
Focus on SPECIFIC customer market - stock products in depth
9. Concentrated Niches Examples
Reduces sales staff
Academy - trader joes - mens wearhouse
Push sales through social media - use twitter to fix customer complaints - use apps to draw in shoppers
Sale of product - credit - service - and warranty add-ons
10. Self- service cost savings
Home Depot - Best Buy (walmart competition) - Container Store - Office Depot
Everyday low prices - weekend lower prices - cheaper prices with store credit card
Reduces sales staff
Internet technology
11. Specialty market innovation
Interior design companies - custom home builders - home carpet companies
Retail stores online - retail stores and add internet - internet stores only - internet stores and add retail stores
Reduces channel costs
Breakup of markets
12. Internet selling cost savings
Reduces channel costs
Store brand products - degree of self-service - leased products/services
Macys - Neimen Marcus - Dillards
Internet technology
13. Retail promotion examples
Special aisle displays - store coupons - store demonstrations
Internet technology
List everywhere - social networking - video tours - texting
Reduces channel costs
14. Specialty Retailer examples
Interior design companies - custom home builders - home carpet companies
Home Depot - Best Buy (walmart competition) - Container Store - Office Depot
Were primarily food products but have expanded into non-food products - & have SELF-SERVICE
Sale of product - credit - service - and warranty add-ons
15. Supermarkets
Coke and pepsi pay to have displays 26 weekends in a year each
Store brand products - degree of self-service - leased products/services
Were primarily food products but have expanded into non-food products - & have SELF-SERVICE
Academy - trader joes - mens wearhouse
16. Internet retailer examples
Physical location - internet location - size of stores - # of stores in trading area
Reduce logistic costs
Warby parker - blinds.com - blue nile jewelry - real estate - 1-800-Flowers.com
Everyday low prices - weekend lower prices - cheaper prices with store credit card
17. Supermarket innovation
Were primarily food products but have expanded into non-food products - & have SELF-SERVICE
Internet technology
Product/service - pricing - promotion - distribution/location
During depression
18. Discount stores
Make a sale - collect the money - buy the diamonds from wholesalers - and then drop ship from wholesaler to customer
Product/service - pricing - promotion - distribution/location
Compete on price - volume-oriented - limited assortment sizes
Everyday low prices - weekend lower prices - cheaper prices with store credit card
19. Online jewelrer Blue Nile
During urban growth
Store brand products - degree of self-service - leased products/services
Focus on SPECIFIC customer market - stock products in depth
Make a sale - collect the money - buy the diamonds from wholesalers - and then drop ship from wholesaler to customer
20. Internet strategies in Real Estate
Affluence - compete on price base
Home Depot - Best Buy (walmart competition) - Container Store - Office Depot
Sale of product - credit - service - and warranty add-ons
List everywhere - social networking - video tours - texting
21. Retail location choices
Affluence - compete on price base
During depression
Retail stores online - retail stores and add internet - internet stores only - internet stores and add retail stores
Everyday low prices - weekend lower prices - cheaper prices with store credit card
22. Department store innovation
Reduce logistic costs
Physical location - internet location - size of stores - # of stores in trading area
During urban growth
Home Depot - Best Buy (walmart competition) - Container Store - Office Depot
23. Internet retailers innovation
Special aisle displays - store coupons - store demonstrations
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston
Internet technology
Home Depot - Best Buy (walmart competition) - Container Store - Office Depot
24. Social Media examples
Affluence - compete on price base
During depression
Push sales through social media - use twitter to fix customer complaints - use apps to draw in shoppers
Physical location - internet location - size of stores - # of stores in trading area
25. Supply Chains cost savings
High markups - lots of services - broad product lines
Reduce logistic costs
During urban growth
Internet technology
26. Retail revenue streams
Sale of product - credit - service - and warranty add-ons
Reduces sales staff
Warby parker - blinds.com - blue nile jewelry - real estate - 1-800-Flowers.com
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston
27. Retail Pricing examples
Everyday low prices - weekend lower prices - cheaper prices with store credit card
Were primarily food products but have expanded into non-food products - & have SELF-SERVICE
Product/service - pricing - promotion - distribution/location
Compete on price - volume-oriented - limited assortment sizes
28. Discounter innovation
Reduce logistic costs
Focus on SPECIFIC customer market - stock products in depth
Affluence - compete on price base
Home Depot - Best Buy (walmart competition) - Container Store - Office Depot
29. Great affiliate of blinds.com
Push sales through social media - use twitter to fix customer complaints - use apps to draw in shoppers
Product/service - pricing - promotion - distribution/location
Coke and pepsi pay to have displays 26 weekends in a year each
Interior design companies - custom home builders - home carpet companies