Product/Pace

True or false: In retailing, "product" and "merchandise" are used interchangeably

• True

• False

Which product has the highest "consumability"?

• A plasma TV

• A loaf of bread

• A chest freezer

• An Ipad

What are two advantages of highly marketable items?

• They wear out quickly and need to be replaced often

• They always have a high profit margin and are easy to get in stock

• They are easy to sell and attract lots of customers to the store

What is an advantage of selling consumable items?

• They do not need refrigeration

• They typically have a large profit margin

• They are long-lasting

• They tend to generate repeat business

Which of the following items is NOT perishable?

• Eggs

• Meat

• Batteries

• Paper towels

Which of the following items is the least seasonal?

• Bottled Water

• Snowboard

• Swimsuit

• Whole turkey

Which of the following items is the least seasonal?

• Using the latest research to redesign a floor plan

• Offering only one kind of each product

• Working with a customer to determine his/her needs

What are "price points"?

• Incentive programs that encourage customers to spend more

• The practice of listing all prices so they end in ".99"

• The typical selling prices at which goods are sold

Which is an example of how a small store might best compete with a large, big-box chain?

• By offering in-store workshops

• By selling at a loss

• By moving into a location across the street

Which is typically perceived as one of the main advantages of a big-box retailer?

• Personalized customer service

• Low Prices

• Convenient downtown locations