Retail Industry Overview
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Questions and Answers

What is the primary role of retailers in a supply chain?

  • Manufacturing products
  • Linking manufacturers to consumers (correct)
  • Storing goods for manufacturers
  • Providing raw materials

    • How do retailers add value through assortments?

  • By offering a wide selection of products to customers (correct)
  • By reducing transportation costs
  • By producing diverse products
  • By storing products in large quantities

    • What is a significant value-providing activity performed by retailers?

  • Promoting products aggressively
  • Selling products at high prices
  • Holding inventory for product availability (correct)
  • Producing goods themselves

    • What differentiates wholesalers from retailers in the supply chain?

    <p>Retailers resell merchandise to other retailers</p> Signup and view all the answers

    How does consumer spending at retailers impact a country's economy?

    <p>It leads to economic growth</p> Signup and view all the answers

    What is a key service provided by retailers to make it easier for customers to buy and use products?

    <p>Providing customer assistance</p> Signup and view all the answers

    What is the main reason that a slowdown in consumer buying can have a negative impact on the economy?

    <p>Reduced job opportunities</p> Signup and view all the answers

    What does Corporate Social Responsibility (CSR) involve?

    <p>Engaging in business practices that exceed legal expectations</p> Signup and view all the answers

    Why is serving the Bottom of the Pyramid (BoP) consumers considered socially beneficial?

    <p>It helps reduce worldwide poverty</p> Signup and view all the answers

    What does LEADERSHIP IN ENVIRONMENTAL DESIGN (LEED) certification focus on when assessing a retail store?

    <p>Impact on environmental and human health</p> Signup and view all the answers

    How has the evolution of the retail industry impacted small, independent retailers?

    <p>Challenged them to compete with other local businesses</p> Signup and view all the answers

    Why is consumer demand considered crucial in a developed economy?

    <p>It serves as an indicator of a healthy financial system</p> Signup and view all the answers

    What type of company is Grupo Elektra known as?

    <p>Banking, electronic, and clothing company</p> Signup and view all the answers

    Which of the following is NOT mentioned as one of the retail firms dominating the industry?

    <p>Walma Home</p> Signup and view all the answers

    In which region is Grupo Elektra located and successful?

    <p>Central and South America</p> Signup and view all the answers

    What was one of the forces facilitating the growth of large retail firms according to the text?

    <p>The development of information systems</p> Signup and view all the answers

    How many retailers are there approximately in the United States according to the text?

    <p>More than 1 million</p> Signup and view all the answers

    What was a significant change in the structure of the retail industry over the past 50 years?

    <p>Development of large, national, and international retail firms</p> Signup and view all the answers

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