Retail Industry Fundamentals: Welcome to Retail

What is step four in the Retail Product Cycle?

Are typically a single store or a small, regional chain.

What is step five in the Retail Product Cycle?

What kinds of things does a manufacturer produce?

Which of the following would NOT be a factor that affects which products a retailer chooses to select to offer in store?

A business that has shareholders through publicly-traded stock. Examples are Target, Walmart and Kroger.

Which of the following terms best describes a grower of potatoes?

Which of the following is a term for intangible things (things you can't touch) that are sold by retailers?

An example of a distribution channel is Manufacturer > Wholesaler > Retailer.

The term for the retailing approach that places the focus on creating a seamless shopping experience for customers.

What's the term for reducing the price of an item in order to encourage sales?

Which of the following is a standard term that describes the audience of retail stores, the people who buy the things?

Ownership is limited to a single or small number of owner investors. Their stock is not traded on the stock market.

Term for the retail strategy that focuses on creating customer experiences rather than simply selling products.

What is step three in the Retail Product Cycle?

Which of these holds large quantities of product that are later sent to retail locations or directly to customers?

Which of the following is a term for physical goods that are bought and sold?

What is step one in the Retail Product Cycle?

What is step two in the Retail Product Cycle?

A license granted to another to sell a company's products/services. Examples include Chick-Fil-A and McDonald's.

What's the term that describes distributing merchandise from the manufacturer to a retailer's location?