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. Retail revenue streams
Coke and pepsi pay to have displays 26 weekends in a year each
Focus on SPECIFIC customer market - stock products in depth
Affluence - compete on price base
Sale of product - credit - service - and warranty add-ons

2. Great affiliate of blinds.com
Physical location - internet location - size of stores - # of stores in trading area
Special aisle displays - store coupons - store demonstrations
Affluence - compete on price base
Interior design companies - custom home builders - home carpet companies

3. Internet retailers innovation
Retail stores online - retail stores and add internet - internet stores only - internet stores and add retail stores
Home Depot - Best Buy (walmart competition) - Container Store - Office Depot
Reduces sales staff
Internet technology

4. Internet selling cost savings
Reduces channel costs
Product/service - pricing - promotion - distribution/location
During depression
Academy - trader joes - mens wearhouse

5. Internet retailer examples
List everywhere - social networking - video tours - texting
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston
Breakup of markets
Warby parker - blinds.com - blue nile jewelry - real estate - 1-800-Flowers.com

6. Discount store examples
Retail stores online - retail stores and add internet - internet stores only - internet stores and add retail stores
Compete on price - volume-oriented - limited assortment sizes
Academy - trader joes - mens wearhouse
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston

7. Specialty Retailers
Breakup of markets
Internet technology
Interior design companies - custom home builders - home carpet companies
Focus on SPECIFIC customer market - stock products in depth

8. Social Media examples
Were primarily food products but have expanded into non-food products - & have SELF-SERVICE
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston
Compete on price - volume-oriented - limited assortment sizes
Push sales through social media - use twitter to fix customer complaints - use apps to draw in shoppers

9. Concentrated Niches Examples
Internet technology
List everywhere - social networking - video tours - texting
Sale of product - credit - service - and warranty add-ons
Academy - trader joes - mens wearhouse

10. Department store examples
Focus on SPECIFIC customer market - stock products in depth
List everywhere - social networking - video tours - texting
Store brand products - degree of self-service - leased products/services
Macys - Neimen Marcus - Dillards

11. Supermarkets
Home Depot - Best Buy (walmart competition) - Container Store - Office Depot
During urban growth
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston
Were primarily food products but have expanded into non-food products - & have SELF-SERVICE

12. Retail Pricing examples
Compete on price - volume-oriented - limited assortment sizes
Everyday low prices - weekend lower prices - cheaper prices with store credit card
Focus on SPECIFIC customer market - stock products in depth
Special aisle displays - store coupons - store demonstrations

13. Supply Chains cost savings
Coke and pepsi pay to have displays 26 weekends in a year each
Special aisle displays - store coupons - store demonstrations
List everywhere - social networking - video tours - texting
Reduce logistic costs

14. Display allowances in many supermarkets
Coke and pepsi pay to have displays 26 weekends in a year each
Store brand products - degree of self-service - leased products/services
During depression
Retail stores online - retail stores and add internet - internet stores only - internet stores and add retail stores

15. Department stores
Internet technology
Focus on SPECIFIC customer market - stock products in depth
Push sales through social media - use twitter to fix customer complaints - use apps to draw in shoppers
High markups - lots of services - broad product lines

16. Specialty Retailer examples
Push sales through social media - use twitter to fix customer complaints - use apps to draw in shoppers
Home Depot - Best Buy (walmart competition) - Container Store - Office Depot
Store brand products - degree of self-service - leased products/services
Warby parker - blinds.com - blue nile jewelry - real estate - 1-800-Flowers.com

17. Supermarket innovation
Everyday low prices - weekend lower prices - cheaper prices with store credit card
Compete on price - volume-oriented - limited assortment sizes
During depression
Were primarily food products but have expanded into non-food products - & have SELF-SERVICE

18. Specialty market innovation
Store brand products - degree of self-service - leased products/services
Focus on SPECIFIC customer market - stock products in depth
Breakup of markets
Compete on price - volume-oriented - limited assortment sizes

19. Discounter innovation
Warby parker - blinds.com - blue nile jewelry - real estate - 1-800-Flowers.com
Affluence - compete on price base
Were primarily food products but have expanded into non-food products - & have SELF-SERVICE
Physical location - internet location - size of stores - # of stores in trading area

20. Retail Distribution/location examples
Store brand products - degree of self-service - leased products/services
Physical location - internet location - size of stores - # of stores in trading area
Sale of product - credit - service - and warranty add-ons
Coke and pepsi pay to have displays 26 weekends in a year each

21. Self- service cost savings
List everywhere - social networking - video tours - texting
Affluence - compete on price base
Reduces sales staff
Reduces channel costs

22. Retail Product/Service examples
Sale of product - credit - service - and warranty add-ons
Were primarily food products but have expanded into non-food products - & have SELF-SERVICE
Store brand products - degree of self-service - leased products/services
High markups - lots of services - broad product lines

23. Department store innovation
Retail stores online - retail stores and add internet - internet stores only - internet stores and add retail stores
Sale of product - credit - service - and warranty add-ons
Store brand products - degree of self-service - leased products/services
During urban growth

24. Retail Market Mix
Product/service - pricing - promotion - distribution/location
Reduces channel costs
List everywhere - social networking - video tours - texting
Store brand products - degree of self-service - leased products/services

25. Retail location choices
Physical location - internet location - size of stores - # of stores in trading area
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
High markups - lots of services - broad product lines

26. Online jewelrer Blue Nile
Sale of product - credit - service - and warranty add-ons
Reduces channel costs
Store brand products - degree of self-service - leased products/services
Make a sale - collect the money - buy the diamonds from wholesalers - and then drop ship from wholesaler to customer

27. Discount stores
During depression
Product/service - pricing - promotion - distribution/location
Special aisle displays - store coupons - store demonstrations
Compete on price - volume-oriented - limited assortment sizes

28. Internet strategies in Real Estate
Interior design companies - custom home builders - home carpet companies
Macys - Neimen Marcus - Dillards
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

29. Retail promotion examples
Special aisle displays - store coupons - store demonstrations
Reduces channel costs
Interior design companies - custom home builders - home carpet companies
Affluence - compete on price base