WorksheetsRetail Operations Chapter 1 Vocabulary
Total questions: 11
Worksheet time: 7mins
What is retailing?
the selling of products to the customer
goods and services that have monetary value
purchaser of goods and services from retailers
tangible items that are made, manufactured, or grown
What are products?
tangible items that are made, manufactured, or grown
the selling of products to the customer
goods and services that have monetary value
purchaser of goods and services from retailers
What are goods?
goods and services that have monetary value
tangible items that are made, manufactured, or grown
intangible things that people do for us that make us feel better or enhance our lives
the selling of products to the customer
What are services?
the selling of products to the customer
tangible items that are made, manufactured, or grown
goods and services that have monetary value
intangible things that people do for us that make us feel better or enhance our lives
What is a retail customer
tangible items that are made, manufactured, or grown
purchaser of goods and services from retailers
the selling of products to the customer
goods and services that have monetary value
What is a manufacturer?
business that makes or produces a good for sale
intangible things that people do for us that make us feel better or enhance our lives
purchaser of goods and services from retailers
goods and services that have monetary value
What is the channel of distribution?
goods and services that have monetary value
business that makes or produces a good for sale
path merchandise takes from where it is made to the final consumer
goods and services that have monetary value
(a) channel is a path that leads directly from manufacturer to consumer.
(a) channel is a path that follows more than one step.
A wholesaler is
goods and services that have monetary value
intangible things that people do for us that make us feel better or enhance our lives
one who buys large quantities of a product and then resells it in smaller quantities to retailers
purchaser of goods and services from retailers
(a) channel manufacturer also owns its retail stores; products goes from manufacturer to retail store to customer.
