Retail Fundamentals Knowledge Check 1.2 Rise Up

What kinds of things does a manufacturer produce?

• raw materials

• fossil fuels

• services

• finished products

Which of the following holds large quantities of product that are later sent either to retail locations or directly to customers?

• manufacturer

• wholesaler

• distribution center

• retailer

Which of the following would NOT be a factor that affects which products a retailer chooses to select to offer in a store?

• local customer preferences

• employee preferences

• manufacturer incentives

• the store's location

What's the term that describes distributing merchandise from the manufacturer to a retailer's location?

• innovation

• alleviation

• reimagination

• allocation

What's the term for reducing the price of an item in order to encourage sales?

• net profit

• margin

• markup

• markdown

What is an example of customers receiving personalized coupons and discount offers based on past purchases?

• data mining

• multichannel retailing

• omnichannel retailing

• web-based retailing