Week 3 Terms Only

Question 1

is the different types of
product lines and products
that the retailer offers for
sale. Decisions regarding to
the _________ of products
include its width and depth.

Answer 1

Merchandise assortment

Question 2

is another important
consideration for a retailer.

Answer 2

Store design and display

Question 3

The store’s physical layout
and atmosphere should be
properly planned to suit the
target market and induce
customers to buy.

Answer 3

Store design and display

Question 4

all the tools you use to
communicate with your
customers or potential
customers.

Answer 4

Communication mix

Question 5

This could be
through advertising, social media, product packaging,
direct marketing, websites,
events, exhibitions

Answer 5

Communication mix

Question 6

Besides typical customer
services, modern retailers may offer such services as home delivery, credit, and conversation.

Answer 6

Customer service

Question 7

A retailer can use service mix as a key tool of non-price competition for
differentiating him from others.

Answer 7

Customer service

Question 8

A retailer’s _____ policy plays an
important role in positioning. In
formulating _____ policies,
retailers must consider their target market, product, service
assortment, and competition.

Answer 8

Pricing

Question 9

Although all retailers would like to
charge high markups and achieve
high volume, they are rarely
achievable simultaneously.

Answer 9

Pricing

Question 10

A retailer’s _________ is the key to its ability to attract
customers and succeed in business.

Answer 10

Location

Question 11

The costs of
building or leasing store premises have a significant bearing on the retailer’s profits.

Answer 11

Location

Question 12

develops a retail mix that
satisfies the needs of its target market better
than its competitors.

Answer 12

Management