Retail Management q1

It is the number of different merchandise categories within a store or a department.

• Competitor

• Customer

• Retail Mix

• Variety

When a grocery store competes with a fast food restaurant, it is engaging in ________________ competition.

• Intratype

• Intertype

Retailing offers opportunities for exciting, challenging carriers either by working for a retail firm or starting your own business.

• True

• False

The first step in the retail management decision process is Store Management.

• True

• False

The impacts of the microenvironment - including technological, social, and ethical/legal/political factors should be taken into account when making a retail management decision.

• True

• False

This happens when retailer broadens their assortment to include items that are generally outside their focus or are usually sold in a different retail format.

• Scrambled merchandise

• Competition

• Variety

Firms selling services to consumers like automobile repairs, salon haircut are not considered as retailers.

• True

• False

A part of the supply chain who engages in buying, storing and physically handling goods in large quantities the reselling the goods to retailers or business users.

• Manufacturer

• Wholesaler

• Retailer

• Consumer

It is a set of firms that make, and deliver a given set of goods and services to the consumer.

• Vertical integration

• Supply chain

• Management opportunities

• Entrepreneurial opportunities

It happens when a company expands backward on the production path into manufacturing, meaning a retailer buys the manufacturer of their product.

• Backward integration

• Forward Integration