Business of retail - Chapter 3 B

   A shoe store is selling sandals, and a sales associate notices that a nearby department store is running a sale on sandals for the same price. What is the best strategy the associate can use to make sure the shoe store’s sandals sell?

• Use approved signage that advertises the sandals as the store’s “Everyday low price.”

• Check the competitor’s website for policies and additional service offerings.

• Visit the competitor’s store to view their merchandise displays and prepare similar displays in order to increase visibility of the merchandise

• Discount the shoe store’s selection of sandals by 10% to ensure the store is offering the lowest price.

Which statement best describes having hands-on instructional classes (i.e. interior painting, laying tiles, repairing a leaky faucet, etc.) at Lowe’s, the home improvement store.

• Customers’ confidence in instructors will in turn boost their own confidence so that they can complete a project on their own after visits to the store to take classes.

• Most customers want to try to complete home improvement projects on their own but do not have the time to attend a class

• Instructors for these classes will be a tool to draw customers to the store to purchase products used in the class

• The classes need to be scheduled at a convenient time or advertised enough in advance to enable a higher customer attendance

Dan, a small business owner, was excited to open his sporting goods shop. Dan created a ___________ to show what products he would sell, the price of those products, the place or location of his physical store and how he would promote his business. 

 

• Delivery Route

• Business Model

•   Marketing Plan.

• Inventory Plan

You notice that a particular brand of cereal is selling faster than expected, and the shelf is nearly empty. What should you do?

• Request additional inventory from the stockroom only after the shelf is completely empty

• Ignore the situation since customers can choose another cereal brand.

• Wait for the manager to notice and restock it themselves.

• Retrieve additional stock from the stockroom and refill the shelf promptly.

To determine the cost of oranges when checking out at the grocery store, the sales associate must enter a number code known as the ______________ that identifies the bulk produce item. 

• Register

• RFID

• Price Look-up (PLU

• Scanner

While the season is changing from summer to back to school, a manager asks a sales associate for ideas on a sales strategy that will help clear out the remaining summer merchandise. Which of the following strategies is most likely to help reach this goal?

• Reduce pricing on summer apparel by 60% or more and add incentives for purchasing sunscreen, bathing suits, and tank tops.

• Put up signs throughout the store stating that all summer merchandise is ”while supplies last.”

• Suggest shipping the summer merchandise to an outlet store to make room for the spring line.

•   Introduce an employee incentive plan for the salesperson who sells the most summer apparel that week.

1The Halloween holiday season just ended and the retail store was already beginning to receive items for the next holiday, Thanksgiving.  How should the store make room for the new items?  

• Discontinue the holiday items

• Mark the holiday items out of stock

• Store away the old holiday items for next season

• Mark down the holiday items

Your store is running a promotion on pickles. They have created an end-cap display. A customer accidentally runs into the display with their shopping cart and many bottles of pickles fall and break. You see the mess as you walk by. What’s the best next step for the sales associate?

• Check on the shopper to ensure they are unharmed and direct traffic away from the area until it can be cleaned up

• Nothing. Maintenance is surely aware of the problem

• You’re not assigned to that part of the store, so you keep going and find someone else to take care of it

• Pick up the big pieces of glass while you wait for help

A customer approaches a sales associate and asks if they have a size small in the pink t-shirt she is browsing. The sales associate does an iPad search and sees that there is 1 in their inventory meaning the inventory is ______________

• Out of stock

• Enroute

• On-hand

• Being ordered

1.    You are working as an overnight stocker in a high-volume grocery store and come across four tubs of ice-cream with a sell-by date of two more days. Which of the following should the associate do?

•     You move the tubs to the front of the case and leave your manager a note, asking her to remove the items the next day if they don’t sell since they will expire the day after that.

• You move the ice-cream to the front of the case, knowing it will sell as soon as the store opens because it is a best seller and it’s on sale.

• You walk around the store and ask a few other employees who are also stocking their areas how they would handle this situation

• ou remove the ice-cream from the case and then fill out the paperwork to mark out of stock as they are almost expired and new items have arrived.