Quiz 2 Retail Mgmt

What is the primary purpose of a business concept in a retail business plan?

• To introduce the proposed business idea

• To outline marketing strategies

• To list all potential employees

• To provide a detailed financial analysis

Which of the following is NOT a recommended tip for creating a business name?

• It can incorporate local culture

• It should be long and technical

• It should be short and easy to remember

• It should reflect the product or service

What should a tagline do?

• Focus solely on the business's history

• Capture the essence of the brand

• Be a lengthy description of the business

• List all products offered

Which of the following is an example of a retail business type?

• A corporate office

• A manufacturing plant

• A hybrid online sari-sari store

• A consulting firm

What does a vision statement focus on?

• Daily tasks and responsibilities

• Future aspirations of the business

• Current operations and purpose

• Financial projections

What is the main focus of a mission statement?

• The history of the business

• What the business aims to become

• The business's future goals

• Present operations and purpose

Which of the following is a characteristic of core values?

• They should reflect personal emotions only

• They guide decisions and behavior

• They are optional for a business

• They must be kept secret

What does a hybrid retail business imply?

• It operates only online

• It operates only in physical locations

• It is a mobile-only business

• It operates both online and in a physical location

Which of the following is an example of a core value?

• Profit maximization

• Market dominance

• Product variety

• Malasakit

What should be checked before finalizing a business name?

• The length of the name

• If it is already used by another business

• The color scheme of the logo

• The number of employees