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WorksheetsRetail Management 2
Total questions: 50
Worksheet time: 27mins
Read the paragraph. Mark which step of the retail supply chain is described.
Abhishek Jani, CEO of @Fairtrade.India, writes, “While most of the cotton had been harvested and sold by farmers across India by January to early February, those fortunate to have access to irrigation are currently in the final stages of their Rabi crop cycle (winter crop cycle)... These farmers are now facing the unenviable choice between either leaving their cotton fields untended and facing crop loss or risking breaking the government notification on the public shutdown and their own health to harvest the cotton.”
Distribution
Raw materials
Manufacturing
Look at the picture. Mark which step of the retail supply chain is referenced.
Raw materials
Distribution
Manufacturing
This is a store that sells products at a lower price than the market price. It's a (type).
(a)
(What?) is a silent selling technique that works by effectively displaying goods.
(a)
(What?) helps customers navigate the store.
(a)
The goal of a window display is to get customers to come into your store.
(a)
What is the main difference between organized retail and unorganized retail?
Organized retail has higher prices
Unorganized retail has more variety
Organized retail has all items under one roof
Unorganized retail has better infrastructure
What is one of the challenges faced by the organized retail industry in India?
Low taxes
Adequate infrastructure
Lack of recognition as an industry
High stamp duties
Which Indian company is known as the world's largest producer of milk?
Dr. Reddy's Laboratories
AMUL
Aurobindo Pharma Limited
Ranbaxy
What is one of the advantages of cooperative societies mentioned in the text?
Lack of managerial ability
Inadequate funds
Capital withdrawal restrictions
Limited advertising expenses
Which furniture company is known for being the largest manufacturer of moulded furniture in the world?
Nilkamal
Durian
Zuari Furniture
Godrej Interio
What is one of the key factors influencing consumer behavior in the purchase of luxury goods?
Price sensitivity
Brand loyalty
Discount availability
Product variety
Which Indian company is known for being the largest manufacturer of two-wheelers in the world?
Hero MotoCorp
Bajaj Auto
TVS Motor Company
Royal Enfield
Analyzing products on the web and buying in a store is called
Webroomers
Shoproomers
Impulsive buying
Compulsive buying
Customers analyzing the products through the stores and ending up buying from the web are called
Webroomers
Shoproomers
Impulsive buying
Compulsive buying
Completely unplanned purchases are called
Hedonic
Compulsive
Impulsive
Utilitarian
Example of price review sites
Amazon
Flipkart
Shopprice
TripAdvisor
Human engagement enablers are called
Personalisers
Chatbots
NLP
Google insights
IKEA introduced an experiential retailing concept called
Overnight
Sleepover
Full night
Sleepnight
The concept we discussed using Bird's Eye Restaurant was
User advertising concept
User Generated concept
Generated Shoppers Concept
Generated Advertising Concept
TaskRabbit is a company that is
Independent worker platform
Employee engagement platform
Employers platform
Employers deciding platform
What is e-commerce?
The buying and selling of goods and services over the internet
The process of creating a unique identity and image for a product or company
A retailing approach where customers perform various tasks themselves
Automated machines that dispense products such as snacks and beverages
What is self-service in retailing?
The buying and selling of goods and services over the internet
A retailing approach where customers perform various tasks themselves
Automated machines that dispense products such as snacks and beverages
Payment cards that allow consumers to make purchases on credit
What are the benefits of credit cards for retailers?
Increased sales, improved cash flow, and reduced risks of handling cash.
Convenience, rewards programs, and the ability to make large purchases without immediate payment.
Transaction fees and the risk of fraudulent charges.
Scanning products, calculating totals, and accepting different payment methods.
What are the drawbacks of credit cards for consumers?
Increased sales, improved cash flow, and reduced risks of handling cash.
Convenience, rewards programs, and the ability to make large purchases without immediate payment.
Transaction fees and the risk of fraudulent charges.
Potential debt accumulation and interest charges.
What are point of sale (POS) machines used for?
The buying and selling of goods and services over the internet
A retail approach where customers perform various tasks themselves
Automated machines that dispense products such as snacks and beverages
Processing sales transactions, including scanning products and accepting different payment methods
What is the impact of branding on consumer behavior?
Increased sales, improved cash flow, and reduced risks of handling cash.
Convenience, rewards programs, and the ability to make large purchases without immediate payment.
Influencing consumer behavior, building trust, and differentiating products from competitors.
Processing sales transactions, including scanning products and accepting different payment methods.
What are after-sale services in retailing?
The support and assistance provided to customers after they have made a purchase.
A retailing approach where customers perform various tasks themselves.
Automated machines that dispense products such as snacks and beverages.
Processing sales transactions, including scanning products and accepting different payment methods.
What are the advantages of modern retailing trends compared to traditional stores?
Greater convenience, wider product selection, and 24/7 accessibility
Personalized customer service, immediate product availability, and an immersive shopping experience
Increased sales, improved cash flow, and reduced risks of handling cash
Convenience, rewards programs, and the ability to make large purchases without immediate payment
Why is understanding modern retailing trends important for businesses?
To increase sales, improve cash flow, and reduce the risks of handling cash
To provide convenience, rewards programs, and the ability to make large purchases without immediate payment
To streamline the checkout process, provide accurate sales data, and enable efficient inventory management
To thrive in the rapidly evolving retail landscape and meet customer expectations
Which of the following are types of online retail?
B2B, B2D
B2C, B2B
B2D, B2C
B2B, B2D, B2C
Which of the following should you always avoid in any eCommerce business?
Take purely emotional decisions
Invest time & effort in research
Select a popular product without proper research
All of the above
Which of these statements is correct?
Selling trending products can generate good sales.
Don’t believe in statistics.
It is good to reinvent the wheel.
None of the above.
A product is easier to sell if it has
High Demand, High Supply
Low Demand, Low Supply
High Demand, Low Supply
Low Demand, High Supply
Which of the following are eCommerce platforms?
Amazon
Flipkart
eBay
Dropshipping is a type of online retail.
True
False
Which of the following business models are available on Amazon?
B2B
B2C
Both
None of the above
I bought a product from a seller and sold it to another customer. What kind of business model is this?
B2B
B2C
B2D
None of the above
Which of the following can be considered an eCommerce platform?
Any website that sells products
Any website that sells services
Any website that sells digital materials like logos, stock images, recipes, etc.
All of the above
Suppliers sell through a moderate number of retailers.
Intensive Distribution
Exclusive Distribution
Selective Distribution
None of these
Focus on selling service line
Specialty store
Warehouse store
Supercenter
Combination store
A self-service food store with grocery, meat, and produce departments and minimum annual sales of 2 million.
Supermarket
Convenience Store
Conventional Supermarket
Food-based Superstore
A retail firm owned by its customer members.
Non-cooperator Customer
Consumer Cooperative
Marketing Cooperative
Producer Cooperative
Combining separately owned companies
Diversification
Mergers
Downsizing
Cost-Containment
Bundle of profits that are offered to customers through a distribution channel.
Value
Sales Promotion
Customer Service
Value Chain
Pays attention to selling products that are tangible in nature
Value Delivery System
Service Retailing
Goods Retailing
Rented Goods Service
According to Philip Kotler, the definition of retail is the
marketing mix (4P's) including price, product, promotion, and place.
concept of selling goods or services in the outlet mall.
activities involved in selling goods or services to the final consumers for personal, non-business use.
activities involved in creating brand awareness among new potential customers.
Groups of consumers and individuals can be identified in terms of demographics such as:
Stakeholder
Genders
Competitors
Supplier
Below factors are the environment of retailing, EXCEPT:
Demographics
Psychology
Economics
Social
_______________ environment for retailing comprises the overall economy, including business cycles, consumer income, and spending patterns.
Economics
Political
Demographic
Technology
