Business of Retail - Practice A

A large athletic-wear brand has thousands of stores worldwide. Major decisions about pricing and marketing come from its headquarters, not individual store managers. What type of retail ownership is this?

• Corporation

• Independent retailer

• Private company

• Franchise

Customers of a popular shoe-store chain can purchase items in-store and online or via their mobile app. The customer also receives texts and emails about current promotions and sales. This is an example of:

• Multi-channel retailing

• Omnichannel retailing

• Plexi-channel retailing

• Alternate channel retailing

Which of the following pairs is an example of Direct Competitors?

• Dick’s Sporting Goods and Gold’s Gym

• Walmart and Target

• Macy’s and Tractor Supply Company

• JC Penney and Taco Bell

Which of the following pairs is an example of Indirect Competitors?

• AMC Theaters' & Disneyt+

• Walmart and Target

• Macy’s and Tractor Supply Company

• Nordstrom and Macy's

Which of the following pairs is an example of Direct Competitors?

• Churches & KFC

• Walmart and Marshalls

• Macy’s and Tractor Supply Company

• JC Penney and Taco Bell

This plan is based on four decision-making factors and has variables that retailers use to satisfy the needs and wants of their target customers. The four controllable factors—product, price, place, and promotion.

• Promotion

• Marketing mix

• Retailing

• Publicity

A customer slips on a wet floor but seems fine and walks away. What should the sales associate do next?

• Complete an incident report immediately

• Wait to see if the customer complains

• Ignore it since there was no visible injury

• Report it only if the manager asks

Which of the following is not a safe ladder practice?

• Maintaining three-point contact

• Standing on the top rung

• Having a coworker stabilize the ladder

• Locking the ladder in place before climbing

You find a product on the shelf with torn or damaged packaging. What should you do?

• Remove it and report it to your manager

• Move it to the clearance section

• Leave it for the next shift

• Repackage it yourself

During an armed robbery, what is the primary rule to follow?

• Protect the store’s cash

• Try to disarm the robber

• Set off the alarm immediately

• Comply and prioritize safety