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 Distribution/location examples
Special aisle displays - store coupons - store demonstrations
Reduce logistic costs
Home Depot - Best Buy (walmart competition) - Container Store - Office Depot
Physical location - internet location - size of stores - # of stores in trading area

2. Great affiliate of blinds.com
During depression
Internet technology
Were primarily food products but have expanded into non-food products - & have SELF-SERVICE
Interior design companies - custom home builders - home carpet companies

3. Retail promotion examples
Reduces sales staff
Compete on price - volume-oriented - limited assortment sizes
Interior design companies - custom home builders - home carpet companies
Special aisle displays - store coupons - store demonstrations

4. Retail revenue streams
Everyday low prices - weekend lower prices - cheaper prices with store credit card
Sale of product - credit - service - and warranty add-ons
Coke and pepsi pay to have displays 26 weekends in a year each
Special aisle displays - store coupons - store demonstrations

5. Supply Chains cost savings
Macys - Neimen Marcus - Dillards
Reduces channel costs
Sale of product - credit - service - and warranty add-ons
Reduce logistic costs

6. Internet strategies in Real Estate
Home Depot - Best Buy (walmart competition) - Container Store - Office Depot
Product/service - pricing - promotion - distribution/location
Reduces sales staff
List everywhere - social networking - video tours - texting

7. Self- service cost savings
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
Reduces sales staff
Focus on SPECIFIC customer market - stock products in depth

8. Online jewelrer Blue Nile
Were primarily food products but have expanded into non-food products - & have SELF-SERVICE
Make a sale - collect the money - buy the diamonds from wholesalers - and then drop ship from wholesaler to customer
Affluence - compete on price base
Product/service - pricing - promotion - distribution/location

9. Supermarket innovation
Macys - Neimen Marcus - Dillards
Affluence - compete on price base
Coke and pepsi pay to have displays 26 weekends in a year each
During depression

10. Discount stores
Affluence - compete on price base
Sale of product - credit - service - and warranty add-ons
During depression
Compete on price - volume-oriented - limited assortment sizes

11. Retail location choices
Interior design companies - custom home builders - home carpet companies
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
Warby parker - blinds.com - blue nile jewelry - real estate - 1-800-Flowers.com

12. Specialty Retailer examples
Breakup of markets
Interior design companies - custom home builders - home carpet companies
Home Depot - Best Buy (walmart competition) - Container Store - Office Depot
Product/service - pricing - promotion - distribution/location

13. Social Media examples
During urban growth
Store brand products - degree of self-service - leased products/services
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

14. Department store examples
Interior design companies - custom home builders - home carpet companies
Special aisle displays - store coupons - store demonstrations
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston
Macys - Neimen Marcus - Dillards

15. Specialty market innovation
Academy - trader joes - mens wearhouse
High markups - lots of services - broad product lines
Breakup of markets
Reduces sales staff

16. Discount store examples
Reduces channel costs
Macys - Neimen Marcus - Dillards
Everyday low prices - weekend lower prices - cheaper prices with store credit card
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston

17. Retail Market Mix
Reduces channel costs
During urban growth
Product/service - pricing - promotion - distribution/location
Reduces sales staff

18. Internet retailer examples
Push sales through social media - use twitter to fix customer complaints - use apps to draw in shoppers
Warby parker - blinds.com - blue nile jewelry - real estate - 1-800-Flowers.com
Product/service - pricing - promotion - distribution/location
Macys - Neimen Marcus - Dillards

19. Concentrated Niches Examples
Compete on price - volume-oriented - limited assortment sizes
During depression
Affluence - compete on price base
Academy - trader joes - mens wearhouse

20. Department store innovation
Warby parker - blinds.com - blue nile jewelry - real estate - 1-800-Flowers.com
List everywhere - social networking - video tours - texting
Reduces sales staff
During urban growth

21. Internet retailers innovation
Push sales through social media - use twitter to fix customer complaints - use apps to draw in shoppers
Warby parker - blinds.com - blue nile jewelry - real estate - 1-800-Flowers.com
Were primarily food products but have expanded into non-food products - & have SELF-SERVICE
Internet technology

22. Discounter innovation
Affluence - compete on price base
Store brand products - degree of self-service - leased products/services
Reduces sales staff
Push sales through social media - use twitter to fix customer complaints - use apps to draw in shoppers

23. Retail Product/Service examples
During depression
Breakup of markets
Academy - trader joes - mens wearhouse
Store brand products - degree of self-service - leased products/services

24. Supermarkets
Push sales through social media - use twitter to fix customer complaints - use apps to draw in shoppers
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
Make a sale - collect the money - buy the diamonds from wholesalers - and then drop ship from wholesaler to customer

25. Internet selling cost savings
Breakup of markets
Store brand products - degree of self-service - leased products/services
Reduces channel costs
Reduces sales staff

26. Specialty Retailers
Special aisle displays - store coupons - store demonstrations
Physical location - internet location - size of stores - # of stores in trading area
Reduces sales staff
Focus on SPECIFIC customer market - stock products in depth

27. Display allowances in many supermarkets
Coke and pepsi pay to have displays 26 weekends in a year each
Special aisle displays - store coupons - store demonstrations
Were primarily food products but have expanded into non-food products - & have SELF-SERVICE
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston

28. Retail Pricing examples
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
Coke and pepsi pay to have displays 26 weekends in a year each
Physical location - internet location - size of stores - # of stores in trading area

29. Department stores
High markups - lots of services - broad product lines
Store brand products - degree of self-service - leased products/services
Macys - Neimen Marcus - Dillards
Internet technology