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