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WorksheetsRetail Management_2ndSem-MidtermReviewer
Total questions: 91
Worksheet time: 2hrs 33mins
Retail involves selling goods directly to consumers
TRUE
FALSE
the word "retail" comes from latin term meaning "to sell in bulk"
TRUE
False
retailers typically buy products from manufacturers or wholesalers before selling them to consumers
TRUE
FALSE
wholesalers sell directly to consumers, just like retailers
TRUE
FALSE
An online shop that sells products to individual customers is considered a retailer
TRUE
FALSE
a grocery store is an example of retailer
TRUE
False
retailers only sell physical products not services
TRUE
FALSE
department stores, supermarkets, and e-commerce websites are all examples of retailers
True
False
retailers do not set prices for the products they sell: only manufacturers do
true
false
retailer sell products in bulk quantities to consumers
true
false
the primary goal of retail is to meet consumer demand by offering the right product at the right time and place
true
false
a manufacturer that sells products directly to consumers through its own website is engaging in retail
true
false
retail businesses can only operate in physical locations like stores or malls
true
false
retail transactions are typically business to consumers
true
false
all retailers must have a physical storefront to sell products
true
false
retail management focuses only on selling products and does not involve customer service
true
false
inventory management is an essential part of retail management to ensure products are available for customers
true
false
marketing and promotions plays a key role in attracting customers in retail management
true
false
retail managers do not need to worry about employee training and development
true
false
a well organized store layout can improve the shopping experience and increase sales
true
false
what is one of the key roles of a retailer?
Manufacturing products
offering a variety of products and services in one place
selling only wholesale products
avoiding direct interactions with consumers
what does “breaking bulk”mean in retail?
selling products in the same large quantities they were bought
buying in small quantities from wholesalers
purchasing in bulk but selling in smaller amounts to consumers
avoiding bulk purchases to reduce stock
why do retailers hold inventory?
to delay sales and increase demand
to ensure consumers have easy access to products when needed
to avoid working with wholesalers
to increase manufacturing cost
which of the following is NOT a service typically offered by retailers?
customer support
delivery options
mining raw materials
product returns and exchanges
how does providing a variety of products benefit consumers?
It forces consumers to visit multiple stores
it makes shopping more convenient and saves time
it limits the number of choices available
it increases the price of products
a retailer buys a case of 50 candy bars but sells them individually. what is this an example of?
holding inventory
breaking bulk
providing services
manufacturing
what is one advantage of retailers holding inventory?
consumers must wait longer for products
manufacturers do not need to make products
consumers can get products immediately when needed
products are always out of stock
what is an example of retailer providing services?
a wholesaler selling in bulk
a store offering product setup assistance
a manufacture producing raw materials
a supplier shipping directly to businesses
which of these best describe the value retailers provide?
they eliminate the need for manufacturers
they simplify the shopping process for consumers
they force customers to buy more than they need
they only sell high priced items
why do retailers offer loyalty programs?
to reduce the number of customers
to increase product cost
to enhance the shopping experience and encourage repeat purchases
to make shopping more difficult
what is a key responsibility of a retail manager in sales and profitability management?
setting sales targets based on market trends
manufacturing products for the store
avoiding price adjustments
eliminating marketing strategies
why do retail managers monitor sales performance?
to track competitor strategies and adjust tactics
to decrease employee engagement
to reduce inventory levels to a minimum
to eliminate the need for the staff training
what is one of the responsibilities of retail managers in staff management?
ignoring employee performance
hiring and training employees
avoiding customer interactions
not providing work schedules
what is the purpose of workforce scheduling in retail management?
to ensure adequate staffing during peak hours
to reduce store hours
to avoid hiring new employees
to increase customer complaints
how do retail managers ensure customer satisfaction?
by handling complaints and improving the shopping experience
by ignoring customer feedback
by limiting product availability
by increasing product prices only
why is customer engagement important in retail?
it encourages staff to interact with customers and upsell products
it prevents customer from making purchases
it decreases customer loyalty
it eliminates the need for promotions
name the type of store divided into multiple departments such as clothing, cosmetics, and electronics
(a)
what do you call a store that primarily sells groceries, fresh produce and household essentials?
(a)
identify the stores that operates 24/7 and provides essential products like snacks and toiletries
(a)
give the term for a large retail establishment that combines a supermarket and department store under one roof
(a)
what kind of retailer specializes in a specific product category, such as books or electronics?
(a)
state the name of a store that sells products in bulk at lower prices and often requires membership
(a)
what is the common name for traditional open air market where vendor sells fresh produce, meat and seafood?
(a)
identify the type of store that operates temporarily to promote seasonal products or new launches
(a)
what do we call a physical retail establishment where customers shop in person
(a)
give the classification of a business that sells products through websites, apps, and digital marketplaces
(a)
name the automated retail system that dispenses products like snacks and drinks without a cashier
(a)
state the retail format commonly located in malls or commercial complexes attracting hight foot traffic
(a)
what is the store type that operates on self services system where customers pick their own goods?
(a)
give the name of a retail business commonly found in gas stations and residential neighborhoods
(a)
identify the retail store that sells both groceries and non food items like home goods and clothing
(a)
what kind of retailer has a warehouse style layout and sells good in large quantities?
(a)
give the term for a market setting that allows bargaining and sells fresh, locally sourced produce
(a)
what do you call a store used by brands to test new markets and create hype?
(a)
name the retail format that allows customer to see and try products before purchasing
(a)
identify the business model that operates 24/7 allowing customers to shop anytime from anywhere
(a)
state the type of retailer that offers customer loyalty programs and installment payment plans
(a)
what kind of store is designed for quick transaction with limited check out counters?
(a)
give the name of a store that provides special discounts for businesses and large families
(a)
identify the type of market that is busiest in the morning when fresh goods arrived
(a)
what term describes a temporary store commonly found in event venues?
(a)
name the type of retailer that has a physical location where customers must visit to shop
(a)
give the classification of a retail platform that provides customer reviews and ratings to help buyers decide
(a)
what do we call a retail system that commonly accepts coins, bills or digital payment for quick purchases
(a)
state the retail category that specializes in health and beauty products
(a)
identify the type of store that features sections like fresh produce, canned goods and beverages
(a)
give the term for a retailer that allows access to wholesale prices through a subscription fee
(a)
what is the name of a retailer that often has multiple floors with various product categories
(a)
state the type of business that stocks both imported and local food brands
(a)
identify the retailer that relies on digital platforms for order processing, payment and delivery
(a)
name the retail format that provides face to face customer service and immediate product availability
(a)
public markets, commonly known as (a) , enforce strict non-negotiable pricing policies
are commonly found in suburban or commercial areas and feature large parking spaces
(a)
typically follow a self service model where customers personally pick their items before checkout
(a)
retailers require customers to visit physical stores for in-person shopping experiences
(a)
retailers that operate entirely online are classified as (a) businesses.
limit their product offerings to a particular niche and often provide expert product knowledge
(a)
cater mainly to customers who purchase goods in large quantities, often requiring membership
(a)
offer a wide range of products categorized into different sections including clothing, electronics and home appliances
(a)
are commonly found in high traffic areas and are often open 24/7
(a)
combine features of both supermarkets and department store selling groceries and non food items under one roof
(a)
focus on a specific product category and often provide expert customer service
(a)
are known for selling fresh and locally sourced produce at competitive prices
(a)
are temporary retail spaces used for seasonal promotions, special launches or brand awareness
(a)
operate online, allowing customers to purchase products through websites and mobile apps
(a)
provide quick and convenient access to snacks, beverages and small consumer goods without human assistance
(a)
stock a limited but high demand selection of products including ready-to-eat meal and beverages
(a)
use a no-frills, warehouse style layout to keep cost low and pass on savings to customers
(a)
vending machines eliminate the need for (a) assistance by automatically dispensing products when payments are made
Give the 3 selling method
give at least 5 store format
