32 Questions
What is the primary role of a retailer in the supply chain?
To add value through the products or services sold to consumers
What is the ultimate connection point to the consumers in the journey of a product?
Retailer
What skills are expected to be developed by students in the retailing module?
Strategic and analytical thinking, attention to detail, and values
What is retailing's role in a supply chain?
To link manufacturers to the consumer
What is the definition of retailing based on the provided text?
A business activity that adds value through the products or services sold to the consumers for their personal or family use
Which part of the supply chain is responsible for selling products and services to consumers for personal or family use?
Retailer
What is the main reason retailers typically buy products from wholesalers and manufacturers?
To add value and provide a wide range of products to consumers
What is the main distinction of a department store?
It provides an extensive range of products within a single store
What type of retail store merges a department store and a grocery supermarket?
Hypermarket
What does vertical integration in the context of retail involve?
When a retailer performs some wholesaling and manufacturing activities
What is the main characteristic of a supermarket?
It offers self-service and sells food and household goods
What do drug stores mainly sell?
Medicines and miscellaneous articles like food and cosmetics
What is the primary characteristic of discount retailers?
They focus on selling goods at reduced prices
Which type of retail store typically offers an unusually broad range of goods or services like financial products?
Hypermarket
What is the main reason for the diversity in the retail industry?
The constitutional differences among retailers that influence their scheme and results
What does backward integration involve in the context of retail?
When wholesalers perform retailing activities
Retailing is one of the important subjects for Business Marketing Students to understand the channel and product structures conclude ______.
retailer
While a manufacturer may produce products, pass through a wholesaler, or involve transactions with brokers or agents, retailers are the ones with direct connection to the ______.
consumers
At the end of this module, it is expected that you would be equipped with the knowledge, customer service and communication skills, strategic and analytical thinking, attention to detail, and values necessary in the operation of the lodging business, which you can use once you become a skilled marketing ______.
person
Read and Understand Retailing - A business activity that adds value through the products or services sold to the consumers for their personal or family ______.
use
The retailer’s role in a supply chain The retailer is a business that sells products and services to ______ for personal or family use.
consumers
The supply chain is a set of firms that make and deliver goods and services to ______.
consumers
Retailers typically buy products from ______ and Manufacturers and resell to Consumers
Wholesalers
It is easier and cheaper for consumers to cut out the ______ and buy directly from manufacturers
middlemen
Wholesalers buy and store merchandise in large quantities from manufacturers and resell to ______
retailers
Vertical integration: when a firm performs more than one set of activities in the ______
channel
Backward integration: arises when a retailer performs some ______ and manufacturing activities
wholesaling
Forward integration: occurs when a manufacturer undertakes retailing and ______ activities
wholesaling
For example, stores vary in size, in the kinds of services provided, in selecting merchandise they carry, and in their ______ and management structures
possession
The department store's main distinction is the ability to provide an extensive range of products within a single ______
store
A large retail market that sells food and other household goods, which usually operates on a ______ basis
self-service
A hypermarket is a retail store that merges a department store and a grocery ______
supermarket
This quiz covers the fundamental concepts of retailing and channel structures in the context of business marketing. It explores the role of retailers as the direct link to consumers and the journey of products from manufacturers to consumers.
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