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Retail Strategy

Instructions:

Answer 29 questions in 15 minutes.
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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. Great affiliate of blinds.com
Focus on SPECIFIC customer market - stock products in depth
Interior design companies - custom home builders - home carpet companies
Sale of product - credit - service - and warranty add-ons
List everywhere - social networking - video tours - texting

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

3. Online jewelrer Blue Nile
Breakup of markets
Interior design companies - custom home builders - home carpet companies
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

4. Specialty market innovation
Reduce logistic costs
Everyday low prices - weekend lower prices - cheaper prices with store credit card
Push sales through social media - use twitter to fix customer complaints - use apps to draw in shoppers
Breakup of markets

5. Retail Market Mix
Compete on price - volume-oriented - limited assortment sizes
Affluence - compete on price base
Product/service - pricing - promotion - distribution/location
Retail stores online - retail stores and add internet - internet stores only - internet stores and add retail stores

6. Retail Product/Service examples
Focus on SPECIFIC customer market - stock products in depth
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
Physical location - internet location - size of stores - # of stores in trading area

7. Discounter innovation
Focus on SPECIFIC customer market - stock products in depth
Coke and pepsi pay to have displays 26 weekends in a year each
Affluence - compete on price base
Interior design companies - custom home builders - home carpet companies

8. Internet retailer examples
Special aisle displays - store coupons - store demonstrations
Warby parker - blinds.com - blue nile jewelry - real estate - 1-800-Flowers.com
Macys - Neimen Marcus - Dillards
Academy - trader joes - mens wearhouse

9. Department store innovation
Physical location - internet location - size of stores - # of stores in trading area
Interior design companies - custom home builders - home carpet companies
During urban growth
Macys - Neimen Marcus - Dillards

10. Social Media examples
During urban growth
Internet technology
Push sales through social media - use twitter to fix customer complaints - use apps to draw in shoppers
Reduce logistic costs

11. Supply Chains cost savings
During urban growth
Special aisle displays - store coupons - store demonstrations
Reduce logistic costs
Reduces sales staff

12. Department stores
Internet technology
Everyday low prices - weekend lower prices - cheaper prices with store credit card
High markups - lots of services - broad product lines
Interior design companies - custom home builders - home carpet companies

13. Concentrated Niches Examples
Product/service - pricing - promotion - distribution/location
Academy - trader joes - mens wearhouse
Physical location - internet location - size of stores - # of stores in trading area
Store brand products - degree of self-service - leased products/services

14. Supermarket innovation
Physical location - internet location - size of stores - # of stores in trading area
Reduces channel costs
List everywhere - social networking - video tours - texting
During depression

15. Retail promotion examples
Reduce logistic costs
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
Special aisle displays - store coupons - store demonstrations

16. Internet strategies in Real Estate
Breakup of markets
Macys - Neimen Marcus - Dillards
Special aisle displays - store coupons - store demonstrations
List everywhere - social networking - video tours - texting

17. Supermarkets
Affluence - compete on price base
Reduces sales staff
Compete on price - volume-oriented - limited assortment sizes
Were primarily food products but have expanded into non-food products - & have SELF-SERVICE

18. Discount store examples
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
Reduces sales staff
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston

19. Display allowances in many supermarkets
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
Sale of product - credit - service - and warranty add-ons
Home Depot - Best Buy (walmart competition) - Container Store - Office Depot

20. Retail revenue streams
Compete on price - volume-oriented - limited assortment sizes
Sale of product - credit - service - and warranty add-ons
Reduces sales staff
Special aisle displays - store coupons - store demonstrations

21. Retail Pricing examples
Internet technology
Everyday low prices - weekend lower prices - cheaper prices with store credit card
Sale of product - credit - service - and warranty add-ons
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston

22. Retail Distribution/location examples
Compete on price - volume-oriented - limited assortment sizes
High markups - lots of services - broad product lines
Focus on SPECIFIC customer market - stock products in depth
Physical location - internet location - size of stores - # of stores in trading area

23. Internet retailers innovation
Interior design companies - custom home builders - home carpet companies
Internet technology
Everyday low prices - weekend lower prices - cheaper prices with store credit card
Store brand products - degree of self-service - leased products/services

24. Specialty Retailers
Product/service - pricing - promotion - distribution/location
During depression
Affluence - compete on price base
Focus on SPECIFIC customer market - stock products in depth

25. Retail location choices
Compete on price - volume-oriented - limited assortment sizes
Retail stores online - retail stores and add internet - internet stores only - internet stores and add retail stores
Macys - Neimen Marcus - Dillards
Were primarily food products but have expanded into non-food products - & have SELF-SERVICE

26. Discount stores
Product/service - pricing - promotion - distribution/location
Compete on price - volume-oriented - limited assortment sizes
Were primarily food products but have expanded into non-food products - & have SELF-SERVICE
Affluence - compete on price base

27. Specialty Retailer examples
Reduce logistic costs
High markups - lots of services - broad product lines
Physical location - internet location - size of stores - # of stores in trading area
Home Depot - Best Buy (walmart competition) - Container Store - Office Depot

28. Internet selling cost savings
Were primarily food products but have expanded into non-food products - & have SELF-SERVICE
Academy - trader joes - mens wearhouse
Reduce logistic costs
Reduces channel costs

29. Department store examples
Reduces sales staff
Breakup of markets
Macys - Neimen Marcus - Dillards
Internet technology

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Can you answer 50 questions in 15 minutes?

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Retail Strategy

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