Retail Marketing -1

Retailing is defined as :

• any exchange of cash and/or credit for goods or services between channel members

• a fairly stable and unchanging industry that has a major impact on society

• the final activities and steps needed to place merchandise made elsewhere into the hands of the consumer or to provide services to the consumer

• the sale of any good or service by the producer to a channel member

• the activities and steps needed to transfer goods and/or services between channel members

One of the most dramatic changes created by e-tailing is a shift in power between retailers and consumers. This shift in power is derived from :

• the ability of consumers to purchase from retailers in other countries as a result of the Internet

• the inability of Internet retailers to compete with more traditional bricks-and-mortar retailers

• the loss of control of pricing information by retailers due to the information dissemination capabilities of the Internet

• the lack of competition in e-tailing

• the decreased power of consumers when transacting and negotiating with retailers

Discretionary Income can be defined as :

• Take-home pay

• money left over after paying taxes and buying necessities

• Take-home pay after adjustments for inflation

• Take-home pay indexed to a base year

________is marked by many retailers, all selling very similar products with ease of entry for both buyers and sellers.

• Oligopolistic competition

• Level competition

• Fair competition

• Pure competition

• Pure profit competition

Which of the following external forces does not have a major influence on the supply chain :

• Technological environment

• Employee morale

• Legal environment

• Consumers

• Behavior of Competition

A supply chain structure where a manufacturer sells its goods directly to the final consumer or end user is termed a(n):

• direct channel

• indirect channel

• localized channel.

• un-diverted channel.

• limited channel

Which of the following is NOT a primary area of accountability for a Store Manager?

• Research and long-term planning of the merchandise that will be sold in the store.

• Selling and service standards to ensure customers are satisfied.

• Ensuring that customers receive the right products at the right time and that they are displayed appropriately.

• Training employees to prepare them with product knowledge, selling and service skills.

• Making sure the sales floor is recovered, damaged goods are returned, and safety and loss prevention standards are in place.

A large box in which products for sale are kept on the shop floor?

• Bricks and mortar store

• Catchment

• Aisle

• Bin/Display Bin

• In-store display

Endcaps in retailing refers to :

• Racks placed near the checkout to encourage impulse buying

• Display of products placed at the end of an aisle in a store

• Extra items offered to the customer when purchasing promoted products

• Promotional fixtures of displays that seek to generate traffic, highlight individual items, and encourage impulse buying

________ is the average number of times each person who is reached is exposed to an advertisement during a given time period.