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. Self- service cost savings
Academy - trader joes - mens wearhouse
Coke and pepsi pay to have displays 26 weekends in a year each
Product/service - pricing - promotion - distribution/location
Reduces sales staff

2. Internet retailers innovation
Compete on price - volume-oriented - limited assortment sizes
Internet technology
Product/service - pricing - promotion - distribution/location
Sale of product - credit - service - and warranty add-ons

3. Retail location choices
Affluence - compete on price base
Retail stores online - retail stores and add internet - internet stores only - internet stores and add retail stores
During urban growth
Product/service - pricing - promotion - distribution/location

4. Supermarkets
Academy - trader joes - mens wearhouse
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
Retail stores online - retail stores and add internet - internet stores only - internet stores and add retail stores

5. Specialty Retailers
Product/service - pricing - promotion - distribution/location
Focus on SPECIFIC customer market - stock products in depth
Special aisle displays - store coupons - store demonstrations
Retail stores online - retail stores and add internet - internet stores only - internet stores and add retail stores

6. Supermarket innovation
During depression
Breakup of markets
Special aisle displays - store coupons - store demonstrations
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston

7. Specialty Retailer examples
Special aisle displays - store coupons - store demonstrations
Home Depot - Best Buy (walmart competition) - Container Store - Office Depot
Everyday low prices - weekend lower prices - cheaper prices with store credit card
Focus on SPECIFIC customer market - stock products in depth

8. Discount store examples
Internet technology
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston
Reduces sales staff
Physical location - internet location - size of stores - # of stores in trading area

9. Department store innovation
Physical location - internet location - size of stores - # of stores in trading area
Reduce logistic costs
Breakup of markets
During urban growth

10. Discounter innovation
Affluence - compete on price base
Retail stores online - retail stores and add internet - internet stores only - internet stores and add retail stores
Store brand products - degree of self-service - leased products/services
Special aisle displays - store coupons - store demonstrations

11. Retail promotion examples
Compete on price - volume-oriented - limited assortment sizes
Reduces sales staff
High markups - lots of services - broad product lines
Special aisle displays - store coupons - store demonstrations

12. Concentrated Niches Examples
Coke and pepsi pay to have displays 26 weekends in a year each
During urban growth
List everywhere - social networking - video tours - texting
Academy - trader joes - mens wearhouse

13. Internet strategies in Real Estate
List everywhere - social networking - video tours - texting
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
Product/service - pricing - promotion - distribution/location

14. Retail Market Mix
Internet technology
Retail stores online - retail stores and add internet - internet stores only - internet stores and add retail stores
Were primarily food products but have expanded into non-food products - & have SELF-SERVICE
Product/service - pricing - promotion - distribution/location

15. Online jewelrer Blue Nile
During urban growth
Make a sale - collect the money - buy the diamonds from wholesalers - and then drop ship from wholesaler to customer
Internet technology
High markups - lots of services - broad product lines

16. Internet retailer examples
Warby parker - blinds.com - blue nile jewelry - real estate - 1-800-Flowers.com
Affluence - compete on price base
Retail stores online - retail stores and add internet - internet stores only - internet stores and add retail stores
Product/service - pricing - promotion - distribution/location

17. Display allowances in many supermarkets
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston
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
Internet technology

18. Retail Distribution/location examples
During depression
Warby parker - blinds.com - blue nile jewelry - real estate - 1-800-Flowers.com
Interior design companies - custom home builders - home carpet companies
Physical location - internet location - size of stores - # of stores in trading area

19. Supply Chains cost savings
Store brand products - degree of self-service - leased products/services
Interior design companies - custom home builders - home carpet companies
Reduce logistic costs
Sale of product - credit - service - and warranty add-ons

20. Great affiliate of blinds.com
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston
Interior design companies - custom home builders - home carpet companies
List everywhere - social networking - video tours - texting
Internet technology

21. Internet selling cost savings
Internet technology
During urban growth
Reduces channel costs
Sale of product - credit - service - and warranty add-ons

22. Department store examples
Coke and pepsi pay to have displays 26 weekends in a year each
Sale of product - credit - service - and warranty add-ons
Macys - Neimen Marcus - Dillards
Product/service - pricing - promotion - distribution/location

23. Social Media examples
Warby parker - blinds.com - blue nile jewelry - real estate - 1-800-Flowers.com
Push sales through social media - use twitter to fix customer complaints - use apps to draw in shoppers
Interior design companies - custom home builders - home carpet companies
Sale of product - credit - service - and warranty add-ons

24. Specialty market innovation
Sale of product - credit - service - and warranty add-ons
Breakup of markets
Academy - trader joes - mens wearhouse
Reduces sales staff

25. Retail Product/Service examples
Store brand products - degree of self-service - leased products/services
Special aisle displays - store coupons - store demonstrations
Sale of product - credit - service - and warranty add-ons
Reduces channel costs

26. Retail revenue streams
Sale of product - credit - service - and warranty add-ons
Reduce logistic costs
Internet technology
Retail stores online - retail stores and add internet - internet stores only - internet stores and add retail stores

27. Discount stores
Breakup of markets
Retail stores online - retail stores and add internet - internet stores only - internet stores and add retail stores
During urban growth
Compete on price - volume-oriented - limited assortment sizes

28. Retail Pricing examples
Special aisle displays - store coupons - store demonstrations
Internet technology
Affluence - compete on price base
Everyday low prices - weekend lower prices - cheaper prices with store credit card

29. Department stores
Reduces channel costs
High markups - lots of services - broad product lines
Internet technology
Reduces sales staff