IE Overview #1

Who is NOT a key player in a Retail Supply Chain?

• Manufacturers

• Consumers

• Creators

• Retailers

• Wholesalers

Answer explanation

4 Key Players in Retail Supply Chain:

Manufacturers

Wholesalers

Retailers

Consumers

Which is correct about Service Industry?

• Discount and Warehouse stores are examples of Service Industry.

• It consists of businesses completing tasks that are useful to customers.

• It sells tangible products to satisfy customers' needs and wants.

• Wholesalers are very important in the Service Industry.

Business operations divided into _________________.

• only the front-end.

• only the back-end.

• front-end and back-end.

• front-end, mid-end and back-end.

_________ focus on streamlining service delivery to customers to increase their satisfaction.

• Front-end

• Inventory management

• Back-end

• Manufacturers

What are the 5 components of COMPETITIVE ADVANTAGE?

• Unique, Defensible, Sustainable, Perfect and Consistent

• Unique, Defensible, Sustainable, Valuable and Predictable

• Unique, Vulnerable, Sustainable, Valuable and Consistent

• Unique, Defensible, Sustainable, Valuable and Consistent

Before a competitive advantage can be established, it is important to know the BENEFIT, TARGET MARKET and COMPETITORS.

• True

• False

Which is a concept tool used by entrepreneurs to track the environment when planning to launch a new product/service?

• NESTLE

• SWOT

• PESTLE

• SMART

What does P stand for in the concept acronym of PESTLE?

• Political

• Perfection

• People

• Price

What does SWOT stand for?

• Strengths, Weaknesses, Oppositions, and Threats.

• Supports, Weaknesses, Opportunities, and Threats.

• Strengths, Weaknesses, Opportunities, and Trials.

• Strengths, Weaknesses, Opportunities, and Threats.

Which are the 3 correct strategies to achieve competitive advantage?

• Commonality, Diversification and Loss Leader Pricing

• Differentiation, Focus and Cost Leadership