Retailing and Supply Chain in Business

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Questions and Answers

What is the main focus of network marketing mentioned in the text?

  • Dealing with the whole distribution chain (correct)
  • Selling directly to the customer
  • Maintaining a variety of merchandise
  • Offering a wide range of services

What is an essential tactic used by retailers to convert positive evaluations into purchases?

  • Providing free samples at checkout
  • Offering discounts on unrelated items
  • Playing background music in stores
  • Creating a sense of urgency or scarcity (correct)

What is one factor affecting shopping attitudes and behavior that is NOT mentioned in the text?

  • Consumer confidence about the future
  • Availability of public transportation (correct)
  • Trend toward more people working remotely
  • Traffic congestion near shopping areas

Which concept is associated with evaluating market response based on characteristics that are shared by grouped customers?

<p>Market Segments (B)</p> Signup and view all the answers

What is one action taken by retailers to increase the chances of converting positive evaluations into purchases?

<p>Providing sufficient information reinforcing evaluations (B)</p> Signup and view all the answers

What could be considered a societal factor influencing shopping attitudes?

<p>Evolving societal values and norms (A)</p> Signup and view all the answers

What term refers to a retail format that sells a wide selection of products and provides an assortment by dividing larger quantities?

<p>Department store (A)</p> Signup and view all the answers

Which type of integration involves a retailer performing wholesaling and manufacturing activities to create a competitive advantage?

<p>Forward integration (B)</p> Signup and view all the answers

What type of retailing involves selling large quantities of goods and typically operates with extended opening hours?

<p>Warehouse retailing (B)</p> Signup and view all the answers

Which business activity involves a retailer supply chain set of firms utilizing machines and raw materials?

<p>Manufacturers (A)</p> Signup and view all the answers

In which type of integration, a company merges with businesses that supply raw materials needed to make finished products?

<p>Backward integration (C)</p> Signup and view all the answers

What do you call a retail format that is known for having its own retail locations opened to control the company's distributors?

<p>Forward integration (A)</p> Signup and view all the answers

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