11 Questions
What is the primary focus of the retailing stage in the distribution channel?
Selling goods and services to consumers for their personal use
What is the estimated value of the U.S. retailing market?
$21 Trillion
What is the process of understanding the market environment, identifying opportunities, and developing a marketing strategy?
Situation Analysis
What is the primary goal of the 'Targeting' stage in the Strategic Marketing Process?
Selecting a specific market segment
What are the four elements of the Marketing Mix?
Price, Promotion, Place, Product
What is the process of identifying the needs of consumers and developing a value proposition to satisfy those needs?
Discovering Needs
What is the approximate annual sales of e-commerce?
$3.8 Trillion
What is the primary goal of a category manager in a retail store?
To find the right mix of branded and private label products to drive sales and profit
What is the main reason for Foot Locker's investment in iconic, but low-income areas?
Because their target customer buys high-end products but does not live in high-end areas
What is the term used to describe the systematic and disciplined approach to managing a product category as a strategic business unit?
Category Management
What is the primary driver of the need for 'contactless' experiences in retail?
The COVID-19 pandemic
Test your understanding of retailing concepts, including channels of distribution, middlemen, and retailing strategies. Review the benefits of different distribution channels and learn about vertical integration in the senior living industry.
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