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