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. 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

2. Supply Chains cost savings
Reduce logistic costs
Product/service - pricing - promotion - distribution/location
During urban growth
During depression

3. Retail revenue streams
Reduces sales staff
Everyday low prices - weekend lower prices - cheaper prices with store credit card
Physical location - internet location - size of stores - # of stores in trading area
Sale of product - credit - service - and warranty add-ons

4. Supermarkets
List everywhere - social networking - video tours - texting
During depression
Were primarily food products but have expanded into non-food products - & have SELF-SERVICE
Breakup of markets

5. Specialty Retailers
Store brand products - degree of self-service - leased products/services
Focus on SPECIFIC customer market - stock products in depth
Macys - Neimen Marcus - Dillards
Reduces channel costs

6. Specialty market innovation
Were primarily food products but have expanded into non-food products - & have SELF-SERVICE
Breakup of markets
Coke and pepsi pay to have displays 26 weekends in a year each
Academy - trader joes - mens wearhouse

7. Internet strategies in Real Estate
Coke and pepsi pay to have displays 26 weekends in a year each
List everywhere - social networking - video tours - texting
Physical location - internet location - size of stores - # of stores in trading area
Compete on price - volume-oriented - limited assortment sizes

8. Retail promotion examples
Were primarily food products but have expanded into non-food products - & have SELF-SERVICE
Special aisle displays - store coupons - store demonstrations
Reduce logistic costs
Internet technology

9. Department stores
Physical location - internet location - size of stores - # of stores in trading area
Breakup of markets
Reduce logistic costs
High markups - lots of services - broad product lines

10. Great affiliate of blinds.com
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston
Were primarily food products but have expanded into non-food products - & have SELF-SERVICE
Compete on price - volume-oriented - limited assortment sizes
Interior design companies - custom home builders - home carpet companies

11. Department store examples
Home Depot - Best Buy (walmart competition) - Container Store - Office Depot
During depression
Interior design companies - custom home builders - home carpet companies
Macys - Neimen Marcus - Dillards

12. Retail Product/Service examples
Focus on SPECIFIC customer market - stock products in depth
Academy - trader joes - mens wearhouse
Reduces sales staff
Store brand products - degree of self-service - leased products/services

13. Supermarket innovation
During depression
Physical location - internet location - size of stores - # of stores in trading area
Affluence - compete on price base
Compete on price - volume-oriented - limited assortment sizes

14. Retail Pricing examples
Everyday low prices - weekend lower prices - cheaper prices with store credit card
Reduce logistic costs
Macys - Neimen Marcus - Dillards
Reduces sales staff

15. Internet selling cost savings
Special aisle displays - store coupons - store demonstrations
Macys - Neimen Marcus - Dillards
Reduces channel costs
Warby parker - blinds.com - blue nile jewelry - real estate - 1-800-Flowers.com

16. Discount store examples
Macys - Neimen Marcus - Dillards
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston
Home Depot - Best Buy (walmart competition) - Container Store - Office Depot
Reduce logistic costs

17. Retail Market Mix
Reduces channel costs
Special aisle displays - store coupons - store demonstrations
Product/service - pricing - promotion - distribution/location
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston

18. Discounter innovation
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston
Affluence - compete on price base
Warby parker - blinds.com - blue nile jewelry - real estate - 1-800-Flowers.com
During depression

19. Retail location choices
Special aisle displays - store coupons - store demonstrations
Reduces sales staff
Home Depot - Best Buy (walmart competition) - Container Store - Office Depot
Retail stores online - retail stores and add internet - internet stores only - internet stores and add retail stores

20. Internet retailers innovation
Internet technology
Reduces channel costs
Special aisle displays - store coupons - store demonstrations
Breakup of markets

21. Self- service cost savings
Reduces sales staff
Special aisle displays - store coupons - store demonstrations
Home Depot - Best Buy (walmart competition) - Container Store - Office Depot
Compete on price - volume-oriented - limited assortment sizes

22. Specialty Retailer examples
Compete on price - volume-oriented - limited assortment sizes
Home Depot - Best Buy (walmart competition) - Container Store - Office Depot
Everyday low prices - weekend lower prices - cheaper prices with store credit card
Product/service - pricing - promotion - distribution/location

23. Online jewelrer Blue Nile
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
During urban growth
Macys - Neimen Marcus - Dillards

24. Social Media examples
Coke and pepsi pay to have displays 26 weekends in a year each
Academy - trader joes - mens wearhouse
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

25. Concentrated Niches Examples
Make a sale - collect the money - buy the diamonds from wholesalers - and then drop ship from wholesaler to customer
During urban growth
Academy - trader joes - mens wearhouse
Everyday low prices - weekend lower prices - cheaper prices with store credit card

26. Discount stores
Compete on price - volume-oriented - limited assortment sizes
Make a sale - collect the money - buy the diamonds from wholesalers - and then drop ship from wholesaler to customer
Home Depot - Best Buy (walmart competition) - Container Store - Office Depot
Physical location - internet location - size of stores - # of stores in trading area

27. Retail Distribution/location examples
Physical location - internet location - size of stores - # of stores in trading area
Internet technology
Reduces sales staff
Affluence - compete on price base

28. Department store innovation
During urban growth
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston
Reduces channel costs
Coke and pepsi pay to have displays 26 weekends in a year each

29. Display allowances in many supermarkets
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
Sale of product - credit - service - and warranty add-ons
Product/service - pricing - promotion - distribution/location