TAM FINAL EXAM QUESTIONS WITH
VERIFIED ANSWERS. A+ GRADE
2025/2026.
Retailing: - ANS Those business activities that involve the sale of goods and services to the
ultimate (final) consumer for personal, family, or household use.
Channel of Distribution - ANS General Goods Supply Chain: Manufacturing → Wholesaling →
Retail → Consumer
Textile & Apparel Supply Chain - ANS Fiber → Fabric → Apparel → Retail → Consumer
Value - ANS Channel Perspective: Value is a series of activities and processes (the "value
chain") that provide a certain value for the consumer. Customer Perspective: Perception the
shopper has. It is the view of all the benefits from a purchase versus the price paid.
Expected Customer Service - ANS The service level that customers want to receive from any
retailer such as basic employee courtesy.
Augmented Customer Service - ANS Includes the activities that enhance the shopping
experience and give retailers a competitive advantage.
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
,Value chain - ANS Represents the total bundle of benefits offered to consumers through a
channel of distribution.
Goods vs. services retailing: - ANS Services-activities, benefits or satisfactions which are
offered for sale or are provided in connection with the sale of goods
Rented goods: - ANS Leased cars, hotel rooms, rent the runway
Owned goods: - ANS Shoe repair, alterations
Non-goods (expertise): - ANS Haircut, professional services (physician, lawyer)
Goods - ANS Stores, Purchasable
4 characteristics of services - ANS Intangibility, Inseparability, Perishability, Variability
Intangibility - ANS Can't touch or feel the service
Inseparability - ANS Can't separate the service from the person performing it
Perishability - ANS Services cannot be stored
Variability - ANS Standardization and quality control hard to achieve
SWOT Analysis - ANS Strengths, Weaknesses, Opportunities, Threats
Mass marketing - ANS Broad spectrum, A retailer that wants to attract everyone. Ex. Target
and Walmart. They want everyone to shop there.
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
, Concentrated marketing - ANS One specific group
Differentiated marketing - ANS Multiple groups with different offerings, Different GAP stores
Cross-shopping - ANS A consumer shopping at many different stores during one outing
Private Label over Brand names. - ANS Merona (Private) vs. Clorox (Brand)
Controllable Variables: - ANS Store location, Managing business, Merchandise management
and pricing, Communicating with customer
Uncontrollable Variables: - ANS Consumers, Competition, Technology, Economic conditions,
Seasonality, Legal restrictions
Independent: - ANS Retailer owns only one retail unit
Chain: - ANS Multiple retail units under common ownership that utilize centralized
purchasing & decision making
Franchise: - ANS A contractual arrangement which allows the franchisee to conduct a given
form of business under an established name & according to a given pattern of business
Leased department: - ANS A department in a retail store that is rented to an outside party,
Pays the store a percent of sales as rent (Clinique in Macy's?)
Vertical company: - ANS Channel member performs more than one step in the production
and distribution process, (Ex. make own store brands & sell them)
Consumer cooperative: - ANS Retail establishment characterized by consumer ownership
3 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
VERIFIED ANSWERS. A+ GRADE
2025/2026.
Retailing: - ANS Those business activities that involve the sale of goods and services to the
ultimate (final) consumer for personal, family, or household use.
Channel of Distribution - ANS General Goods Supply Chain: Manufacturing → Wholesaling →
Retail → Consumer
Textile & Apparel Supply Chain - ANS Fiber → Fabric → Apparel → Retail → Consumer
Value - ANS Channel Perspective: Value is a series of activities and processes (the "value
chain") that provide a certain value for the consumer. Customer Perspective: Perception the
shopper has. It is the view of all the benefits from a purchase versus the price paid.
Expected Customer Service - ANS The service level that customers want to receive from any
retailer such as basic employee courtesy.
Augmented Customer Service - ANS Includes the activities that enhance the shopping
experience and give retailers a competitive advantage.
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
,Value chain - ANS Represents the total bundle of benefits offered to consumers through a
channel of distribution.
Goods vs. services retailing: - ANS Services-activities, benefits or satisfactions which are
offered for sale or are provided in connection with the sale of goods
Rented goods: - ANS Leased cars, hotel rooms, rent the runway
Owned goods: - ANS Shoe repair, alterations
Non-goods (expertise): - ANS Haircut, professional services (physician, lawyer)
Goods - ANS Stores, Purchasable
4 characteristics of services - ANS Intangibility, Inseparability, Perishability, Variability
Intangibility - ANS Can't touch or feel the service
Inseparability - ANS Can't separate the service from the person performing it
Perishability - ANS Services cannot be stored
Variability - ANS Standardization and quality control hard to achieve
SWOT Analysis - ANS Strengths, Weaknesses, Opportunities, Threats
Mass marketing - ANS Broad spectrum, A retailer that wants to attract everyone. Ex. Target
and Walmart. They want everyone to shop there.
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
, Concentrated marketing - ANS One specific group
Differentiated marketing - ANS Multiple groups with different offerings, Different GAP stores
Cross-shopping - ANS A consumer shopping at many different stores during one outing
Private Label over Brand names. - ANS Merona (Private) vs. Clorox (Brand)
Controllable Variables: - ANS Store location, Managing business, Merchandise management
and pricing, Communicating with customer
Uncontrollable Variables: - ANS Consumers, Competition, Technology, Economic conditions,
Seasonality, Legal restrictions
Independent: - ANS Retailer owns only one retail unit
Chain: - ANS Multiple retail units under common ownership that utilize centralized
purchasing & decision making
Franchise: - ANS A contractual arrangement which allows the franchisee to conduct a given
form of business under an established name & according to a given pattern of business
Leased department: - ANS A department in a retail store that is rented to an outside party,
Pays the store a percent of sales as rent (Clinique in Macy's?)
Vertical company: - ANS Channel member performs more than one step in the production
and distribution process, (Ex. make own store brands & sell them)
Consumer cooperative: - ANS Retail establishment characterized by consumer ownership
3 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
