Retailing Basics
This term describes selling products and services to consumers for personal or family use.
What is Retailing?
Wawa, QuikTrip, and Circle K competing against one another is this type of competition.
What is intratype competition?
This is developed by a retailer to create a competitive advantage in the marketplace.
What is a retail strategy?
Name ONE way retailers add value for consumers.
What is providing assortments/services, breaking bulk, OR holding inventory?
This occurs when retailers of different types compete by selling similar merchandise.
What is intertype competition?
Name THREE of the six elements of the retail mix.
What are location, merchandise management, pricing, communication mix, store design & display, and customer service?
This technology allows retailers to analyze large amounts of customer transaction data to make better decisions.
What is retail analytics?
A retailer selling products outside of the merchandise traditionally associated with its type is called this.
What is scrambled merchandising?
A retailer changes its merchandise displays and store layout. Which element of the retail mix is being changed?
What is store design and display?