1.1 What is Retail? Knowledge Check

What is considered a retail service?

• New car
• Car wash
• Car engine repair
• New Car tires

The selling of goods and/or services to a customer is called

• food service
• service industry
• retail
• purchasing

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

• Sales
• Products
• Pricing
• Services

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

• Manufacturers
• Wholesalers
• Buyers
• Customers

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

• Gifts
• Training
• Services
• Products

Which of the following terms best describes a grower of potatoes?

• Manufacturer
• Wholesaler
• Distribution Center
• Retailer

The majority of retailers are

• Independently Owned
• Corporations
• Franchises
• Online Only

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

Approximately what percentage of US Jobs are retail jobs, as of 2019?

• 5-10%
• 10-15%
• 20-25%
• 35-40%

What kinds of things does a manufacturer produce?

• Raw materials
• fossil fuels
• services
• finished products