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Retailing Review: Channels of Distribution and Retailing Strategies

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Retailing Review: Channels of Distribution and Retailing Strategies

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Questions and Answers

What is the primary focus of the retailing stage in the distribution channel?

Selling goods and services to wholesalers

Selling goods and services to consumers for their personal use (correct)

Selling goods and services to other businesses

Selling goods and services to the government

What is the estimated value of the U.S. retailing market?

$10 Trillion

$1 Trillion

$21 Trillion (correct)

$50 Trillion

What is the process of understanding the market environment, identifying opportunities, and developing a marketing strategy?

Market Segmentation

Marketing Program Design

SWOT Analysis

Situation Analysis (correct)

What is the primary goal of the 'Targeting' stage in the Strategic Marketing Process?

Selecting a specific market segment Signup and view all the answers

What are the four elements of the Marketing Mix?

Price, Promotion, Place, Product Signup and view all the answers

What is the process of identifying the needs of consumers and developing a value proposition to satisfy those needs?

Discovering Needs Signup and view all the answers

What is the approximate annual sales of e-commerce?

$3.8 Trillion Signup and view all the answers

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 Signup and view all the answers

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 Signup and view all the answers

What is the term used to describe the systematic and disciplined approach to managing a product category as a strategic business unit?

Category Management Signup and view all the answers

What is the primary driver of the need for 'contactless' experiences in retail?

The COVID-19 pandemic Signup and view all the answers