Retailing Quiz

What is the primary goal of retailing?

• To manufacture products

• To provide customers with the merchandise and services they want

• To distribute products to warehouses

• To categorize products into groups

Who is a retailer?

• A person who buys large quantities of products from manufacturers

• A person who purchases goods or services from a business

• A business or person that sells products and/or services to customers

• A person who produces finished products

What are products also called?

• Services

• Merchandise

• Allocation

• Distribution

Which of the following is an example of an intangible service?

• Food

• Clothes

• Lawn mowing

• Household items

What does a wholesaler do?

• Produces finished products

• Buys large quantities of products from manufacturers and sells smaller amounts to retailers

• Distributes products to customers

• Categorizes products into groups

What is allocation in the context of retailing?

• The process of taking products from warehouses to stores

• The term for distributing merchandise from the manufacturer to a retailer’s locations

• The process of selling products to customers

• The process of organizing products into groups

What does shelf life refer to?

• The time an item remains usable, salable, or fit for consumption

• The process of taking products from warehouses to stores

• The process of selling products to customers

• The process of organizing products into groups

What are markdowns defined as?

• Increases to the original selling price of items

• Reductions to the original selling price of items

• The original selling price of items

• The cost price of items

What percentage of jobs in the United States are in retail?

• 10%

• 25%

• 50%

• 75%

What does the term "Omnichannel" refer to in retailing?

• Focusing on creating engaging activities using reality

• Giving customers the option of buying in store or online but not connected

• Placing the focus on creating a seamless shopping experience

• Producing finished products