12 Questions
Which of the following factors do retailers consider when selecting merchandise?
Consumer demand, trends, and profitability
What is the primary focus of retailing?
Selling goods or services to consumers for their personal use
How does the layout and design of a retail store impact the customer experience?
It plays a crucial role in attracting customers and encouraging purchases
What is the primary purpose of effective inventory management for retailers?
To ensure that products are available when customers want them while minimizing excess stock that ties up capital
What is the primary goal of a retailer's pricing strategy?
To take into account factors such as competition, costs, and perceived value
Which of the following is a key aspect of providing excellent customer service in retailing?
Employing highly skilled and knowledgeable staff
What is a key consideration in rural marketing when it comes to product adaptation?
Customizing products to suit rural consumers' preferences
Why is establishing an efficient distribution network crucial in rural marketing?
Due to the dispersed nature of rural populations
What communication strategies are effective for reaching rural consumers?
Leveraging community influencers and events
How should pricing strategies be adapted for rural consumers?
Being sensitive to affordability while ensuring profitability
Why is educating rural consumers about product benefits essential?
To create awareness and highlight value propositions
How can engaging in CSR activities benefit companies in rural marketing?
Help build trust, goodwill, and long-term relationships with rural consumers
Test your knowledge on the fundamental concepts of retailing, including merchandise selection, store layout, and inventory management. Learn about the factors that influence retail strategies and customer behavior.
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