A set of firms that facilitate the movement of products from the point of production to the point of sale to the ultimate consumer.
What is A DISTRIBUTION CHANNEL
100
It Identifies:
The target market/s
The nature of the merchandise and/or services offered
How the retailer will build a long-term advantage over the competition
What is Retail Strategy
100
Number of different product lines
What is Breadth
100
EDLP
What is – everyday low pricing strategy
100
A _____________ _____________ is a group of consumers with similar needs (a market segment) and a group of retailers using a similar retail format to satisfy those customer needs.
What is Retail Market
200
Voluntary actions taken by a company to address ethical, social and environmental impacts of its business operations and the concerns of its stakeholders.
What is Corporate Social Responsibility (CSR)
200
Offering merchandise not typically associated with the store type
What are Methods for developing a Competitive Advantage
300
Competition between retailers of the same type (grocery)
What is “Intratype Competition”
300
Retailers attempt to satisfy consumer needs by... (5 answers, 2 will get you the points)
What is Having 1) The right Merchandise 2) At the right Price 3) At the right Place 4) In the right Quantities 5) At the right Time
300
Many general merchandise retailers sell through ___________________
What are multichannels
300
When consumers go shopping to accomplish a specific task.
What is Utilitarian
300
When developing a retail strategy, two sets of variables that will impact your retail business must be assessed
What is Micro-environment (things you can change) and The Macro-environment (things you can't change)
400
Competition between retailers that sell similar merchandise using different formats, such as discount and department stores
What is “Intertype Competition”
400
_____________________Involve the following strategies:
Market, Financial, Location Organizational structure and human resources, Information systems, Supply chain
CRM
What is Strategic Decision Areas for Retail??
400
Discount Stores, Specialty Stores, Category Specialists
Department Stores, Drug Stores, Off-Price Retailers
Value Retailers
What are General Merchandise Retailers
400
The set of alternatives the customer evaluates when faced with a purchase decision.
What is CONSIDERATION SET.
400
A Customers’ commitment to shopping at a store.
What is Customer Loyalty
500
The set of business activities that add value to the products and services sold to consumers for their personal or family use.
What is RETAILING
500
The _________ _________ indicates how the firm plans to focus its resources to accomplish its objectives.
What is Retail Strategy.
500
1-Type of merchandise/services offered
2-Breadth and Depth of merchandise offered
3-The level of customer service
4-The price of the merchandise
What are the 4 elements used to classify Retailers:
500
Recognize needs, Search for information about retailers, Evaluate retailers and channels, Select a retailer and channel, Visit store or internet site or read catalogue.
What is The Buying Process
500
SWOT
What are: Strengths, Weaknesses, Opportunities, Threats