Exam 2 (chapter 6)

Question 1

Sustainable competitive advantage

Answer 1

good relationship with consumers and suppliers, internal operations running smoothly

Question 2

Retail market segment

Answer 2

a group of consumers with similar needs and a group of retailers that satisfy those needs with similar channels and formats

Question 3

Positioning

Answer 3

design and implantation of retail mix to create image

Question 4

CRM

Answer 4

consumer relationship management - a technology for managing a company’s relationships and interactions with customers

Question 5

Cross selling

Answer 5

sales technique involving the selling of an additional product or service to an existing customer

Question 6

Stages of the strategic planning process

Answer 6

SWOT: strengths, weaknesses, opportunities, and threats

Question 7

Mission statement

Answer 7

An action-based statement that declares the purpose of an organization and how they serve their customers