RMG 200 Midterm Exam Questions And
Already Passed Answers.
Retail - Answer a set of business activities that add value to the products and services sold to
consumers to satisfy their needs
Top Retail Industries in Canada - Answer Automotive ($120 Billion) & Food and Beverage ($110
Billion)
Total 2018 Retail Sales - Answer $605.9 Billion
Core Retail Sales - Answer $376.9 Billion
Total Number of Retail Stores - Answer 145,274
Jobs in Retail - Answer 2,057,645
Top 3 Canadian Retailers - Answer Weston Group (Loblaw's) - $46 million
Walmart - $32 million
Costco Wholesale Corp. - $25 million
Value - Answer benefits - costs
Satisfaction - Answer relates to expectations
Distribution Channel - Answer is a set of firms that facilitate the movement of products from
the point of production to the point of sale to the ultimate consumer
Forward Integration - Answer starting from a beginning point and moving forward through the
distribution channel (Ex. roots started as a manufacturing company then went into retail)
Backward Integration - Answer starting from a beginning point and moving backward through
, 2. Transaction Efficiency
3. Branding Power
Functions of Retailers - Answer 1. Providing assortment
2. Breaking bulk
3. Holding inventory
4. Providing customer service and other services
5. Providing experiential consumption
Intra-Type Competition - Answer competition between the same type of retailers (ex. Loblaw's
vs. Sobey's)
Inter-Type Competition - Answer competition between very dissimilar types of retail outlets
(Ex. amazon vs. walmart)
Scrambled Merchandising - Answer offering several unrelated product lines in a single store
(Ex. Joe Fresh Jewelry at Shoppers Drug Mart)
Retail Strategy - Answer A statement that indicates (1) the target market toward which a
retailer plans to commit its resources, (2) the nature of the retail offering that the retailer plans
to use to satisfy the needs of the target market, and (3) the bases upon which the retailer will
attempt to build a sustainable competitive advantage over competitors.
7 Elements in the Retail Mix - Answer Product, Price, Process, Physical, People, Place, and
Promotion
Service Characteristics - Answer intangibility, inseparability, variability, perishability
Retailer Characteristics - Answer 1. type of merchandise/services offered
2. breadth and depth of merchandise offered
3. the level of customer service
4. the price of the merchandise
Already Passed Answers.
Retail - Answer a set of business activities that add value to the products and services sold to
consumers to satisfy their needs
Top Retail Industries in Canada - Answer Automotive ($120 Billion) & Food and Beverage ($110
Billion)
Total 2018 Retail Sales - Answer $605.9 Billion
Core Retail Sales - Answer $376.9 Billion
Total Number of Retail Stores - Answer 145,274
Jobs in Retail - Answer 2,057,645
Top 3 Canadian Retailers - Answer Weston Group (Loblaw's) - $46 million
Walmart - $32 million
Costco Wholesale Corp. - $25 million
Value - Answer benefits - costs
Satisfaction - Answer relates to expectations
Distribution Channel - Answer is a set of firms that facilitate the movement of products from
the point of production to the point of sale to the ultimate consumer
Forward Integration - Answer starting from a beginning point and moving forward through the
distribution channel (Ex. roots started as a manufacturing company then went into retail)
Backward Integration - Answer starting from a beginning point and moving backward through
, 2. Transaction Efficiency
3. Branding Power
Functions of Retailers - Answer 1. Providing assortment
2. Breaking bulk
3. Holding inventory
4. Providing customer service and other services
5. Providing experiential consumption
Intra-Type Competition - Answer competition between the same type of retailers (ex. Loblaw's
vs. Sobey's)
Inter-Type Competition - Answer competition between very dissimilar types of retail outlets
(Ex. amazon vs. walmart)
Scrambled Merchandising - Answer offering several unrelated product lines in a single store
(Ex. Joe Fresh Jewelry at Shoppers Drug Mart)
Retail Strategy - Answer A statement that indicates (1) the target market toward which a
retailer plans to commit its resources, (2) the nature of the retail offering that the retailer plans
to use to satisfy the needs of the target market, and (3) the bases upon which the retailer will
attempt to build a sustainable competitive advantage over competitors.
7 Elements in the Retail Mix - Answer Product, Price, Process, Physical, People, Place, and
Promotion
Service Characteristics - Answer intangibility, inseparability, variability, perishability
Retailer Characteristics - Answer 1. type of merchandise/services offered
2. breadth and depth of merchandise offered
3. the level of customer service
4. the price of the merchandise
