Retail Market Strategy Lesson 6 Quiz
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Questions and Answers

What makes up the retailing mix according to the text?

  • 6 P's: product, place, promotion, price, presentation, personnel (correct)
  • 7 P's: product, place, promotion, price, presentation, personnel, process
  • 4 P's: product, place, promotion, price
  • 5 P's: product, place, promotion, price, presentation

    • Which of the following is NOT one of the 6 P's of retailing mix mentioned in the text?

  • Process (correct)
  • Product
  • Promotion
  • Place

    • What is the main objective of considering the right advertising strategy according to the text?

  • Decrease consumer choice
  • Persuade consumers to choose the retailer's brand (correct)
  • Reduce the retailer's market share
  • Increase retailer's operational costs

    • In retail marketing, what does the term 'retail strategy' refer to?

    <p>Total operations approach including marketing mix to satisfy target market needs</p> Signup and view all the answers

    What are the 6 P's of retailing mix used by modern retailers according to the text?

    <p>Product, place, promotion, pricing, presentation, personnel</p> Signup and view all the answers

    How do retailers achieve a set of 'rights' in the merchandising outcome according to the text?

    <p>Through the merchandising process</p> Signup and view all the answers

    What is one key aspect of merchandise management according to the text?

    <p>Location strategy</p> Signup and view all the answers

    In retail marketing strategy, what does the choice of merchandise convey to consumers?

    <p>Nature of the merchandise</p> Signup and view all the answers

    Which aspect of the retail business refers to the people working for a specific company or project?

    <p>Personnel</p> Signup and view all the answers

    How do internal marketing efforts in a retail business mainly support?

    <p>Sales team</p> Signup and view all the answers

    What influences a consumer's purchase decision and intention to purchase according to the text?

    <p>Product type carried</p> Signup and view all the answers

    Where does merchandise management play a role in retail strategy according to the text?

    <p>Merchandise assortment search</p> Signup and view all the answers

    What is the main difference between online retailing and catalog retailing?

    <p>Online retailing involves purchasing products over the Internet, while catalog retailing involves ordering from a physical store.</p> Signup and view all the answers

    What is a key characteristic of an independent retailer?

    <p>An independent retailer builds their business from the ground up.</p> Signup and view all the answers

    What differentiates a merchandising company from a service company?

    <p>Merchandising companies purchase and resell products, while service companies primarily sell services.</p> Signup and view all the answers

    What is a typical characteristic of dealership ownership?

    <p>Dealership owners are a combination of a franchise and an individual retailer.</p> Signup and view all the answers

    In the context of retailing, what is the significance of simultaneous production and consumption?

    <p>It involves the immediate delivery of services to customers.</p> Signup and view all the answers

    How does catalog retailing differ from online retailing in terms of product display?

    <p>Catalog retailing displays all items in-store, while online retailing only shows a selection.</p> Signup and view all the answers

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