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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 location choices
Retail stores online - retail stores and add internet - internet stores only - internet stores and add retail stores
During depression
Reduce logistic costs
Affluence - compete on price base

2. Display allowances in many supermarkets
Academy - trader joes - mens wearhouse
Coke and pepsi pay to have displays 26 weekends in a year each
Home Depot - Best Buy (walmart competition) - Container Store - Office Depot
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston

3. Supply Chains cost savings
Affluence - compete on price base
Warby parker - blinds.com - blue nile jewelry - real estate - 1-800-Flowers.com
Reduce logistic costs
Make a sale - collect the money - buy the diamonds from wholesalers - and then drop ship from wholesaler to customer

4. Discounter innovation
High markups - lots of services - broad product lines
Affluence - compete on price base
Were primarily food products but have expanded into non-food products - & have SELF-SERVICE
Macys - Neimen Marcus - Dillards

5. Retail Product/Service examples
Store brand products - degree of self-service - leased products/services
Academy - trader joes - mens wearhouse
Breakup of markets
Compete on price - volume-oriented - limited assortment sizes

6. Concentrated Niches Examples
Reduces channel costs
Academy - trader joes - mens wearhouse
High markups - lots of services - broad product lines
Push sales through social media - use twitter to fix customer complaints - use apps to draw in shoppers

7. Supermarkets
Reduces sales staff
Make a sale - collect the money - buy the diamonds from wholesalers - and then drop ship from wholesaler to customer
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

8. Supermarket innovation
Coke and pepsi pay to have displays 26 weekends in a year each
Reduces sales staff
Product/service - pricing - promotion - distribution/location
During depression

9. Specialty market innovation
Reduce logistic costs
High markups - lots of services - broad product lines
Compete on price - volume-oriented - limited assortment sizes
Breakup of markets

10. Great affiliate of blinds.com
Were primarily food products but have expanded into non-food products - & have SELF-SERVICE
During urban growth
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston
Interior design companies - custom home builders - home carpet companies

11. Department store innovation
Focus on SPECIFIC customer market - stock products in depth
During urban growth
Internet technology
Macys - Neimen Marcus - Dillards

12. Online jewelrer Blue Nile
Store brand products - degree of self-service - leased products/services
Retail stores online - retail stores and add internet - internet stores only - internet stores and add retail stores
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

13. Retail Distribution/location examples
Push sales through social media - use twitter to fix customer complaints - use apps to draw in shoppers
During urban growth
Reduces sales staff
Physical location - internet location - size of stores - # of stores in trading area

14. Social Media examples
Warby parker - blinds.com - blue nile jewelry - real estate - 1-800-Flowers.com
Home Depot - Best Buy (walmart competition) - Container Store - Office Depot
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

15. Specialty Retailer examples
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston
Warby parker - blinds.com - blue nile jewelry - real estate - 1-800-Flowers.com
Home Depot - Best Buy (walmart competition) - Container Store - Office Depot
Academy - trader joes - mens wearhouse

16. Department store examples
Macys - Neimen Marcus - Dillards
High markups - lots of services - broad product lines
Warby parker - blinds.com - blue nile jewelry - real estate - 1-800-Flowers.com
During urban growth

17. Retail Pricing examples
Interior design companies - custom home builders - home carpet companies
Everyday low prices - weekend lower prices - cheaper prices with store credit card
Reduces sales staff
High markups - lots of services - broad product lines

18. Retail Market Mix
Physical location - internet location - size of stores - # of stores in trading area
Product/service - pricing - promotion - distribution/location
Retail stores online - retail stores and add internet - internet stores only - internet stores and add retail stores
Academy - trader joes - mens wearhouse

19. Specialty Retailers
Academy - trader joes - mens wearhouse
Physical location - internet location - size of stores - # of stores in trading area
Focus on SPECIFIC customer market - stock products in depth
Reduces sales staff

20. Discount stores
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston
Compete on price - volume-oriented - limited assortment sizes
Academy - trader joes - mens wearhouse
Sale of product - credit - service - and warranty add-ons

21. Internet retailers innovation
Home Depot - Best Buy (walmart competition) - Container Store - Office Depot
Special aisle displays - store coupons - store demonstrations
Internet technology
Sale of product - credit - service - and warranty add-ons

22. Discount store examples
Store brand products - degree of self-service - leased products/services
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston
Reduces channel costs
Internet technology

23. Department stores
Physical location - internet location - size of stores - # of stores in trading area
Reduces channel costs
High markups - lots of services - broad product lines
Breakup of markets

24. Internet retailer examples
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston
Interior design companies - custom home builders - home carpet companies
Warby parker - blinds.com - blue nile jewelry - real estate - 1-800-Flowers.com
High markups - lots of services - broad product lines

25. Retail revenue streams
List everywhere - social networking - video tours - texting
During depression
Sale of product - credit - service - and warranty add-ons
Compete on price - volume-oriented - limited assortment sizes

26. Self- service cost savings
Affluence - compete on price base
Coke and pepsi pay to have displays 26 weekends in a year each
Reduces sales staff
Macys - Neimen Marcus - Dillards

27. Retail promotion examples
Push sales through social media - use twitter to fix customer complaints - use apps to draw in shoppers
Physical location - internet location - size of stores - # of stores in trading area
Home Depot - Best Buy (walmart competition) - Container Store - Office Depot
Special aisle displays - store coupons - store demonstrations

28. Internet strategies in Real Estate
Sale of product - credit - service - and warranty add-ons
Macys - Neimen Marcus - Dillards
Reduces sales staff
List everywhere - social networking - video tours - texting

29. Internet selling cost savings
Affluence - compete on price base
Reduces channel costs
Interior design companies - custom home builders - home carpet companies
Internet technology