Ch. 1 The World of Retailing Quiz

Satisfy the needs of ultimate consumers.

A retailer's role in a supply chain is to:

Retail mix.

A set of decisions retailers make to satisfy customer needs and influence their purchase decisions is called:

Retailing

What is a set of business activities that adds value to the products and services sold to consumers for their personal or family use?

D. the advertising campaign developed to sell last season's merchandise.

As the owner of a store specializing in men's suits, Brittany can use a retail strategy statement to identify all of the following EXCEPT: a. the store's target market. b. how the store will build a competitive advantage over other similar retailers. c. what services the store will offer its customers. D. the advertising campaign developed to sell last season's merchandise. e. what types of suits the store will stock.

Customer to choose from a wide selection of products, brands, sizes, and prices at one location.

Providing assortments is an advantageous business activity for retailers because it enables the:

Intratype competition.

The competition between the same types of retailers is called:

Vertical integration.

Victoria's Secret designs the merchandise they sell and then contracts with manufacturers to produce it exclusively for them. Victoria's Secret is practicing:

E. All of the above would be considered retailers

Which of the following businesses would be considered a retailer? A. concession stand at Disney World. B. Holiday Inn. C. Macy's. D. NetFlix. E. All of the above would be considered retailers

E. All of the above would be examples of intertype competition.

Which of the following would be an example of intertype competition? A. supermarket and a fresh flower stand. B. A Starbuck's and a McDonald's restaurant. C. A Wal-Mart Supercenter and a CVS/Pharmacy. D. A 7-Eleven convenience store and a Macy's. E. All of the above would be examples of intertype competition.

Scrambled merchandising.

While vacationing at the beach, Sara was delighted to see that the local Walgreens carried milk, bread, apples and bananas. Walgreens is exhibiting: