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