RETAIL QUIZ 2.0

It is a statement identifying (1) the retailer’s target

market, (2) the format the retailer plans to use to

satisfy the target market’s needs, and (3) the bases

upon which the retailer plans to build a sustainable

competitive advantage.

It describes the nature of the retailer’s operations – that is, its retail mix that is designed to satisfy the needs of its target market

It is a group of consumers with similar needs (a market segment) that a group of retailers can service using a

similar retail format to satisfy them.

customers are committed to buying merchandise and services from a particular retailer.

What is the 5th step in strategic retail planning process?

Set of approaches and techniques firms employ to efficiently and effectively integrate their suppliers, manufacturers, warehouses, stores and transportation intermediaries to efficiently have the right quantities, at the right locations,

and at the right time.

It occurs when an SKU that a customer wants is not available.

It is the computer-to-computer exchange of business documents

from retailer to vendor, and back.

It is the place where a retail transaction is completed.

It is the aspect of supply chain management that refers to the planning, implementation, and control of the efficient flow and

storage of goods, services, an related information form the point of origin to the point of consumption to meet customer’s

requirements.