Welcome to Retail

Which of the following is a term for physical goods that are bought and sold?

• products

• sales

• pricing

• services

Which of the following is a standard term that describes the audience of retailstores--that is the people who will buy things from the stores?

• buyers

• wholesalers

• manufacturers

• customers

Which of the following is a term for intangible things, such as providing delivery, that are sold by retailers?

• gifts

• training

• services

• products

What kinds of things does a manufacturer produce?

• Finished products

• Services

• Fossil fuels

• Raw materials

Which of the following describes a grower of strawberries?

• Manufacturer

• Wholesaler

• Distribution center

• Retailer

Which of the following is the term for the retailing approach that places the focus on creating a seamless shopping experience for customers by integrating multiple channels?-

• Multichannel

• Omnichannel

• Integrated channel

• Seamless channel

The majority of retailers are?

• Independently owned

• Corporations

• Franchises

• Online only

Which of the following is the standard definition of a retail ecosystem?

• An interconnected system of approaches for meeting the goal of retailing which is to provide customers with the merchandise and services they want.

• A group of stores that work together collaboratively to serve customers needs

• A team of store employees who help each other

• A set of technological systems that work together in order to make sure all products in a retailer's inventory are tracked and accounted for

Approximately what percentage of U.S. j obs are retail jobs, as of 2019?

• 5-10%

• 10-15%

• 20-25%

• 35-40%

What term describes delivering a positive, memorable experience that is more than what the customer expected?

• Customer service

• Quality customer service

• Service

• Sales