BOR Ch1 Short Review

What is the definition of a retailer?

• A customer who shops regularly

• A business that sells goods or services to the public

• A company that only sells online

• A bank that offers loans

Which word means 'products or services a business sells to make money'?

• Revenue

• Inventory

• Product

• Technology

Customer service is mainly about...

• Replacing items for free

• Helping customers before, during, or after they shop

• Taking customer money

• Checking inventory

A large company owned by many shareholders is a...

• Corporation

• Franchise

• Sole Proprietor

• Independent Retailer

A small business owned and run by one person is called...

• Franchise

• Corporation

• Independent Retailer

• Marketing Partner

Which is an example of a franchise?

• Walmart

• Raising Cane’s

• Rouses

• Best Buy

What is the correct order of the distribution channel?

• Manufacturer → Retailer → Wholesaler → Customer

• Customer → Manufacturer → Wholesaler → Retailer

• Manufacturer → Wholesaler → Retailer → Customer

• Wholesaler → Customer → Retailer → Manufacturer

What does a wholesaler do?

• Buys directly from the customer

• Buys in bulk and sells to retailers

• Makes products

• Delivers food

What does a retailer do in the distribution chain?

• Manufactures the product

• Stores the products in a warehouse

• Buys from wholesalers and sells to customers

• Delivers to wholesalers

A customer asks for help finding shoes. What’s the BEST consultative selling approach?

• Point to a rack

• Ask their size and what style they like

• Tell them to check online

• Say you’re not sure and walk away