Unit 5 - Merchandise Quiz

Which of the following descriptions BEST describes what merchandise is?

• Core products offered by a company

• Enhancements to current products

• The practice of using the branding of one ‘product’ in order to maximize the sale of another “product”

• None of these answers

Some stores like to sell their merchandise at a physical location (a store). What do we call these stores?

• Brick and Mortar

• Cement and Wood

• Retail Centers

• Merch Markets

Walmart has a strong app, great website and many brick and mortar stores, all of which offer customers the same experience to find the merch they are looking for. This type of merchandising is called

• Multi Platform Merchandising

• Retail Merchandising

• All Inclusive Merchandising

• Omnichannel Merchandising

When companies change logos to things like pride flag colors or colors in support of cancer awareness, this is done to sell merch and is called

• Themed Merchandising

• Psychological Merchandising

• Values Merchandising

• Personal Merchandising

Which of the following is true about the benefits of a sports franchise selling merchandise?

• Enhances fan engagement and attracts new fans

• Higher Profitability

• Increases brand loyalty and recognition

• All of the answers listed are correct

Which picture below is the best example of merchandise?

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• All are examples of merch

Click on the picture. Which statement about merchandise can you say is TRUE based on the data in the chart?

• Merch sales in 2023 will be LOWER than in previous years

• Merchandise sales do NOT grow from year to year

• The biggest jump in merchandise sales came after COVID in 2020 to 2021

• Merchandise sales are in the millions of dollars each year

A product enhancement can be described as

• Modification or improvements made to the products which make the product more desirable

• Strategy of placing and established products brand name to a new product in the same category

• An alternate product that improves an athletes performance in their respected game

• A spell used by wizards to make things bigger and better

Which picture is the best example of product EXTENSIONS?

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• All pictures are examples of product extensions

During the development stage of the product life cycle, we said that companies do a lot of R&D and make prototypes. What do we mean by R&D?

• Reading and Designing

• Research on Demographics

• Research and Development

• Reacting and Deciding