Retail Industry Fundamentals: Welcome to Retail

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

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

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

What is step five in the Retail Product Cycle?

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

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

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

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

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

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

What kinds of things does a manufacturer produce?

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

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

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

What is step one in the Retail Product Cycle?

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

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

What is step three in the Retail Product Cycle?

What is step two in the Retail Product Cycle?

What is step four in the Retail Product Cycle?

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