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. Internet retailers innovation
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
Internet technology
Reduce logistic costs

2. Retail Market Mix
Coke and pepsi pay to have displays 26 weekends in a year each
Product/service - pricing - promotion - distribution/location
Academy - trader joes - mens wearhouse
Retail stores online - retail stores and add internet - internet stores only - internet stores and add retail stores

3. Retail revenue streams
Breakup of markets
Sale of product - credit - service - and warranty add-ons
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

4. Retail Distribution/location examples
Physical location - internet location - size of stores - # of stores in trading area
Breakup of markets
High markups - lots of services - broad product lines
Internet technology

5. Self- service cost savings
High markups - lots of services - broad product lines
Reduces sales staff
Home Depot - Best Buy (walmart competition) - Container Store - Office Depot
Store brand products - degree of self-service - leased products/services

6. Discount store examples
Macys - Neimen Marcus - Dillards
Store brand products - degree of self-service - leased products/services
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston
Breakup of markets

7. Specialty Retailers
During depression
Interior design companies - custom home builders - home carpet companies
Special aisle displays - store coupons - store demonstrations
Focus on SPECIFIC customer market - stock products in depth

8. Department store innovation
Reduces channel costs
Store brand products - degree of self-service - leased products/services
During urban growth
List everywhere - social networking - video tours - texting

9. Retail Product/Service examples
Reduces channel costs
Breakup of markets
Push sales through social media - use twitter to fix customer complaints - use apps to draw in shoppers
Store brand products - degree of self-service - leased products/services

10. Specialty market innovation
Physical location - internet location - size of stores - # of stores in trading area
Breakup of markets
Product/service - pricing - promotion - distribution/location
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston

11. Internet retailer examples
Warby parker - blinds.com - blue nile jewelry - real estate - 1-800-Flowers.com
Home Depot - Best Buy (walmart competition) - Container Store - Office Depot
During urban growth
High markups - lots of services - broad product lines

12. Specialty Retailer examples
List everywhere - social networking - video tours - texting
Academy - trader joes - mens wearhouse
Product/service - pricing - promotion - distribution/location
Home Depot - Best Buy (walmart competition) - Container Store - Office Depot

13. Display allowances in many supermarkets
Reduces sales staff
During depression
List everywhere - social networking - video tours - texting
Coke and pepsi pay to have displays 26 weekends in a year each

14. Concentrated Niches Examples
During depression
During urban growth
Coke and pepsi pay to have displays 26 weekends in a year each
Academy - trader joes - mens wearhouse

15. Great affiliate of blinds.com
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston
Warby parker - blinds.com - blue nile jewelry - real estate - 1-800-Flowers.com
Reduces channel costs
Interior design companies - custom home builders - home carpet companies

16. Retail Pricing examples
Everyday low prices - weekend lower prices - cheaper prices with store credit card
Interior design companies - custom home builders - home carpet companies
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston
Coke and pepsi pay to have displays 26 weekends in a year each

17. Social Media examples
Push sales through social media - use twitter to fix customer complaints - use apps to draw in shoppers
Reduce logistic costs
Special aisle displays - store coupons - store demonstrations
Were primarily food products but have expanded into non-food products - & have SELF-SERVICE

18. Discount stores
Compete on price - volume-oriented - limited assortment sizes
Macys - Neimen Marcus - Dillards
Push sales through social media - use twitter to fix customer complaints - use apps to draw in shoppers
During urban growth

19. Internet selling cost savings
Macys - Neimen Marcus - Dillards
High markups - lots of services - broad product lines
Physical location - internet location - size of stores - # of stores in trading area
Reduces channel costs

20. Retail location choices
Internet technology
During urban growth
Warby parker - blinds.com - blue nile jewelry - real estate - 1-800-Flowers.com
Retail stores online - retail stores and add internet - internet stores only - internet stores and add retail stores

21. Supermarket innovation
Reduces sales staff
Product/service - pricing - promotion - distribution/location
During depression
During urban growth

22. Online jewelrer Blue Nile
Coke and pepsi pay to have displays 26 weekends in a year each
Make a sale - collect the money - buy the diamonds from wholesalers - and then drop ship from wholesaler to customer
List everywhere - social networking - video tours - texting
Retail stores online - retail stores and add internet - internet stores only - internet stores and add retail stores

23. Supply Chains cost savings
Warby parker - blinds.com - blue nile jewelry - real estate - 1-800-Flowers.com
Reduce logistic costs
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston
Coke and pepsi pay to have displays 26 weekends in a year each

24. Retail promotion examples
Sale of product - credit - service - and warranty add-ons
Special aisle displays - store coupons - store demonstrations
Macys - Neimen Marcus - Dillards
Focus on SPECIFIC customer market - stock products in depth

25. Discounter innovation
Walmart - Costco - Target (danton&hudson) - Suns Club in Houston
Everyday low prices - weekend lower prices - cheaper prices with store credit card
During depression
Affluence - compete on price base

26. Supermarkets
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
Reduces sales staff
Academy - trader joes - mens wearhouse

27. Internet strategies in Real Estate
Reduces sales staff
Reduces channel costs
List everywhere - social networking - video tours - texting
Reduce logistic costs

28. Department store examples
Macys - Neimen Marcus - Dillards
Product/service - pricing - promotion - distribution/location
Reduces sales staff
During urban growth

29. Department stores
Push sales through social media - use twitter to fix customer complaints - use apps to draw in shoppers
During depression
Home Depot - Best Buy (walmart competition) - Container Store - Office Depot
High markups - lots of services - broad product lines