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Provides comprehensive knowledge and skills to effectively manage retail operations, including merchandising, and sales strategies, for successful retail.
What retailing concept is when the retailer determines the attributes and needs of its customers and endeavours to satisfy these needs to the fullest?
The retailer determines the attributes and needs of its customers and endeavours to satisfy these needs to the fullest
the overall plan guiding a retail firm
stores that are located in downtown areas and dense business submarkets?
Also known as big-box retailing.
In __________, customers can now make payments, order online over their phone, check inventories, and get product information?
What is the communication strategy designed to act directly as an inducement, as added value, or as incentive for the product to the customer.
It opens the way for messaging that can be targeted using the customers’ preferences and thus adds value to retailers.
What is the marketing activity which all of the businesses and people involved in the physical movement and transfer of ownership of goods and services from producer to consumer?
This refers to communicating with existing and prospective customers
The price charged is high if there is high demand for the product and low if the demand is low.
What is the combination of marketing activities that the retailers carry out to meet the target market’s requirements in the best possible way?
What kind of unplanned shopping area is found in traditional “downtown” areas in cities/towns?
the contact between manufacturers, wholesalers, and the consumer
Pricing is done to convey quality of the product
_______ range from 4,000 to 5,000 m2 in size, have about 80 to 100 employees and offer an assortment of goods consisting of approximately 28,000 items, with a two-thirds non-food and a one-third food assortment
__ refers to advertising on newspaper, brochures, handbills, product catalogues.
High profit margins-low sales products. Allocate quality space rather than quantity.
Major brands such as Wal-mart, eBay, and Amazon are considered ________?
What refers to the identifiable, but sometimes intangible, activities undertaken by a retailer in conjunction with the basic goods and services it sells?
_________ are used to forecast or survey and map such store trading areas?
These are retail locations with several outlets in close proximity to each other that have evolved over time.
The mark-ups are calculated as a percentage of the selling price and not as a percentage of the cost price.
Buying Power of Consumers is the sensitivity of the customer towards price variation and purchasing power of the customer contribute to setting price.
The retail company may set the price as close as the giant competitor in the market
It is one of the crucial challenges faced by today’s retail managers.
refers to the identifiable, but sometimes intangible, activities undertaken by a retailer in conjunction with the basic goods and services it sells.
__ displays are Ads placed near the merchandise to promote the sale where the customer makes buying decision.
Suppliers make agreements with one or a few retailers to be the only ones in specified geographic areas to carry certain brands or products
A pictorial diagram that depicts how and where to place specific retail products on shelves or displays in order to increase customer purchases.
What stores is characterized of 3,000 to 5,000 square feet?
What basic types of shopping centers consist of a purpose built cluster of free-standing retail outlets?
a combination of supermarket and discount store with an average size of 17,400 m2
it was developed and shared with suppliers at no cost on the basis of this consumer tracking software
the assortment from various sources, buy in large quantity, and sell in small amounts
______ is a large assortment of merchandise, in a sense ‘killing’ a particular category from other retailers?
An Analysis techniques aimed at grouping data cases or variables together for segmenting a portfolio of stores into similar groups
Low sales-low profit margins products. Put them at the top or bottom of shelves.
The company sets prices little above the manufacturing cost
_______ refers in whereby they seek to establish and maintain long-term bonds with customers, rather than act as if each sales transaction is a completely new encounter?
the term for businesses and people involved in the physical movement and transfer of ownership of goods and services from producer to consumer.
suppliers sell through a moderate number of retailers
Layout that followed mainly in luxury retail or fashion stores.
What is the range of activities the retailer does to create awareness about the products or services among customers for selling?
__ is a promotional price technique where irrespective of how luxurious the product is, retailer offers steep discount.
Match the following descriptions of the prominent phases of CRM accordingly.
This refers to providing customers the product or service with the added value.
an innovative marketing concept, where in retailers pop up announced at unique locations away from traditional markets and disappear at the same pace within a few days.
What kind of unplanned shopping are is found in larger cities and main street or high street locations in smaller cities?
Presenting the products or offering services in a well-organized and attractive manner, keeping an aesthetic sense in presentation to elevate customers’ shopping experience.
This measure is used to track total number of customer traffic per unit time. It is then applied to schedule hours and determine staff strength.
Price is reduced to compete with other similar products to allow more customer penetration.
What are retail locations that have been architecturally planned to provide a unified theme for a number of outlets?
Windows and doors cannot provide visual messages about merchandise on sale.
What are enclosed, climate controlled and lighted shopping centers?
includes an additional amount of the same product or another product for a limited time
Who is usually selling through retailers not owned by manufacturers?
The first SAM-S CLUB opened its doors in ______
Free-standing outlets that are isolated from other retailers
_______ is an innovative marketing concept, where in retailers pop up announced at unique locations away from traditional markets and disappear at the same pace within a few day
Layout mainly used in grocery stores.
What marketing mix is the location where the product or service is sold: online, type of store, location of store, time taken and the mode of transport to reach the retail place.
What retail marketing helps the activity conversion to sales.
Match the given descriptions of the 7Ps of Retail Marketing accordingly.
The geographic area that contains the customers of a particular site or region for a company or a group of companies for specific goods or services.
What retail marketing mix is the range of activities involved in manufacturing and delivering the product or service to the customer.
offering additional product or service is combined with the main product, together with special price.
The world’s largest retailer since 2002
High sales-low profit margins products. These products need to be displayed close to impulse products.
What activity is based on the idea that good looks pay of?
The retailer keeps track of the number of transactions per hour, which helps in determining store hours and staff scheduling.
For small suppliers, retailers can provide assistance by transporting, storing, marking, advertising, and pre-paying for products. Small retailers may need the same type of help from their suppliers
What is the retailing activity whereby a retailer sells to consumers through multiple retail formats?
This includes internal stakeholders such as customers, sales staff, management staff, and external stakeholders such as suppliers and supply chain management force.
The result gives the value of the average sales and net return, which is used to study sales trends over time.
__________ marketing is the range of activities the _________ does to create awareness about the products or services among customers for selling.
Retail marketing consists of _________________, sales promotion, advertising, and marketing mix.
What promotional pricing where retailer brings down the prices for wide range of products in the store?
Both internal and external factors matter when it comes to store design
Basic types of shopping centers.
Stores that primarily offered single functionality, largely due to the difficulty integrating with other systems.
Many goods and services have been modified because of retailer feedback.
It is raising customers’ awareness about the product or service and driving customers to buy the products by offering tempting deals
first step in retail strategic planning
This refers to getting new customers
Products exceeding sales and profit margins. Allocate large amount of quality space.
A product is priced at low cost if it is lacking some feature than the competitor’s product.
__ is a promotional price technique where retailer brings down the prices for wide range of products in the store
What are these retail store that sites are developed deliberately and usually have some large, key retail brand stores (“anchor stores”) and a number of smaller retailers to add diversity and special interest?
What retailing activity is when Suppliers have higher sales than in exclusive distribution, and retailers carry some competing brands?
_______ are generally located within a radius of three to seven miles of Supercenters, in order to supplement the existing food distribution network and provide added convenience
Customer buying __ is an important point of consideration while designing store layout.
containing the US-based warehouse clubs
The retailer integrates all plans and activities to maximize efficiency.
key retail brand stores
__ is a promotional price technique where Buy one get one free or Get 3 pay for 1 are used.
The retail company determines the level of sales needed to cover all the relevant fixed and variable costs
Whose job is communicating both with customers and with manufacturers and wholesalers?
Retailers conduct these for the customers who make frequent purchase by offering first access to new products, free coupons, or special discounted price on particular days.
What retailing activity is whereby suppliers sell through a moderate number of retailers?
factors that influence retail prices includes manufacturing costs and the predetermined objectives
What retailling concept is when the retailer offers good value to customers, whether it be upscale or discount?
_______ usually contain “bakeries, delis, and convenience shops such as portrait studios, photo labs, dry cleaners, optical shops, and hair salons.
__ refers to the identification, satisfaction, and management of customers’ stated and unstated needs and demands by the retailer for mutual benefit.
What retailing concept is when the retailer integrates all plans and activities to maximize efficiency?
Print media such as newspaper, brochures, handbills, product catalogues is an example of what retail marketing?
_____ refers to the ongoing commitment to pass on even more savings to customers by lowering the every-day-low-prices whenever possible,
It is characterized by an assortment which is non-food dominated and resembles that of a department store including toys, clothing, leisure and sporting goods, car components and furniture.
suppliers sell through as many retailers as possible
it refers to constantly lowering costs and prices in accordance with the company’s credo of every-day-low-prices, which is analyzed below in greater depth
What includes all the elements in a retail offering that encourage or inhibit consumers during their contact with a retailer?
This refers to modifying products or services to meet customers’ requirements.
The first guideline refers essentially to the company’s desired way of treating human beings and it shows that employees are highly valued.
What retailing concept is when the retailer offers good value to customers, whether it be upscale or discount?
The customers perceive prices like 99.99, 11.49 to be cheaper than 100.
These displays at the end of the aisles can be used to display promotional offers.
The price is charged differently for customers from different customer segments.
What type of location relates to single, free-standing outlets that are isolated from other retailers?
offer an assortment of goods consisting of approximately 28,000 items, with a two-thirds non-food and a one-third food assortment.
What retailing activity is whereby suppliers sell through as many retailers as possible?
What are important support systems for location research and trading area analysis?
includes all the elements in a retail offering that encourage or inhibit consumers during their contact with a retailer
What retail store combines shopping with entertainment and eating out?
What are the Ads placed near the checkout or billing counters to promote on-the-fly purchase that the customer makes at the last minute.
the last stage in a channel of distribution
It refers to where the product or service is sold: online, type of store, location of store, time taken and the mode of transport to reach the retail place
locations along a street or motorway
Cost which is both fixed and variable costs of manufacturing the product
__ displays are Ads placed near the checkout or billing counters to promote on-the-fly purchase that the customer makes at the last minute.
The retailer sets goals and then uses its strategy to attain them.
What promotional pricing where irrespective of how luxurious the product is, retailer offers steep discount
What type of cost is rent expense?
__________ uses large plasma or LED screens.
What process is when Retailers collect an assortment from various sources, buy in large quantity, and sell in small amounts?
The retailer charges price depending upon time, season or occasions
What enables the retailer to reach out to a large number of people and create awareness among them about the product’s availability.
It basically involves all functions of the value chain, meaning that cost efficiencies are expected of the company’s suppliers, its employees and executives.
What involves displaying products or services aesthetically using various objects, colors, shapes, materials, designs, and styles to attract the customers?
What is the activity of developing floor plans and three-dimensional displays in order to engage customers and boost sales.
Smart phones are used in ___________?
________ is one example of category killer?
A retail store typically employ a unified theme carried by the retail outlets, their architectural design and their merchandise and can be anchored by restaurants or entertainment facilities.
What retailing concept is when the retailer offers good value to customers, whether it be or discount?
The __ are designed in way to use the space efficiently.
Wal-Mart’s worldwide competitors
The retailer offers good value to customers, whether it be upscale or discount.
__ involves displaying products or services aesthetically using various objects, colors, shapes, materials, designs, and styles to attract the customers.
What is identification, satisfaction, and management of customers’ stated and unstated needs and demands by the retailer for mutual benefit?
These are retail locations that have been architecturally planned to provide a unified theme for a number of outlets.
The first guideline refers essentially to the company’s desired way of treating human beings and it shows that employees are highly valued
An analysis of grouping together a range of variables that can be used to predict site profitability
The quality and range of variants of the product or service.
What is the latest edition to the list of retail formats available in Philippines?
A prototype stores with anywhere between a 20 percent and 50 percent reduction in square footage.
Layout used in malls and departmental stores.
He started Wal-mart
The retail company sets prices in order to achieve a particular Return On Investment
__ is the communication strategy designed to act directly as an inducement, as added value, or as incentive for the product to the customer.
costs include varying costs of raw material and costs depending upon volume of production
A retail store comprise mainly upmarket clothing shops and boutiques carrying high quality and price fashion merchandise
This refers to keeping the loyal customers
These are models used to forecast store performance based on the simultaneous consideration of such factors as store size, store image, distance, population and distribution.
The store interior is the area where customers actually look for products and make purchases.
What company opened a pop up store for its website Piper lime in New York?
What do Retailers conduct for the customers who make frequent purchase by offering first access to new products, free coupons, or special discounted price on particular days?
An analysis used to predict category membership.
What are the Ads placed near the merchandise to promote the sale where the customer makes buying decision.
its origin in France meaning fashion clothing.
What retailing activity whereby suppliers make agreements with one or a few retailers to be the only ones in specified geographic areas to carry certain brands or products?
This area outside the store is as much important as the interior of the store. It communicates with the customer on who the retailer is and what it stands for.
It refers to the cost of product or service for different customer segments by considering various price affecting factors
What type of retail store can be positioned on roads or near other retailers or shopping centers?
This law establishes a point of indifference between two towns in order to determine the catchment area of each town.
The retailer charges the price depending on where the customer is located.
What is the display reminders to increase task compliance, announce sales incentives, and provide communication from corporate headquarters?
What includes internal stakeholders such as customers, sales staff, management staff, and external stakeholders such as suppliers and supply chain management force?
It is a small specialty store that offers huge variety in a specific product category and that too at low prices
charging a product at a high price that the customer is willing to pay and then it decreases gradually with time
Manufacturers and wholesalers are informed by their sales representative about sales forecasts, delivery delays, customer complaints, defective items, inventory turnover, and more.
Initially the product is charged at a high price that the customer is willing to pay and then it decreases gradually with time.
What kind of unplanned shopping area is usually found along a street or motorway?
It states that by cutting prices, sales can be boosted to a point where far more can be earned than from selling items at higher prices
What stores contain manufacturers’ and retailers’ outlet stores or off-price retailers?
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