RETAIL MANAGEMENT HOPKINS FSU
(TEST 1) QUESTIONS & ACCURATE
ANSWERS RATED 100% CORRECT
What is Retailing? - Correct Answer ✔✔ How firms deliver products to end users.
List the examples of major retailers (2015) - Correct Answer ✔✔ 1. Wal-Mart
2. Kroger
3. Costco
4. Home Depot
5. Walgreens
6. Target
7. CVS Caremark
8. Lowe's
9. Amazon
10. Safeway
Define relationship retailing - Correct Answer ✔✔ where retailers seek to form and
maintain long term bonds with customers, rather than act as if each sales transaction is
a new encounter with them
Retailers role in the sorting process? - Correct Answer ✔✔ 1. collect an assortment
from various sources, buy in large quantity, and sell in small amounts.
2. Communicating both with the customers and the manufacture/wholesaler
3. Retailer feedback - customers learn about the avaliablity and characteristics of a
product, hours, sales and etc from ads of retailers. Wholesales and Manufactures learn
how to better their products and see consumer liking due to retailers.
4. Retailers can also provide transportation, storing and other assets for small suppliers
5. Can complete transactions with customers (filling orders, and convenience)
Figure 1-5: Retailer's role in the Sorting Process - Correct Answer ✔✔ Manufacturer ----
> Wholesaler ---->Retailer ----> Customers
Figure 1-4: A typical Channel of Distribution - Correct Answer ✔✔ Manufacturer ---->
Wholesaler ----> Retailer ----> Final Consumer
What are the types of Distribution? - Correct Answer ✔✔ Exclusive, Intensive, and
Selective
What is Exclusive (distribution type) - Correct Answer ✔✔ Where suppliers make
agreements with one or few retailers, designating such retailers as the only ones to
, carry certain brands or products within a specified geographic area. Ex. One-on-one
relationship
Effects on Manufacturer/ retailer relationships in exclusive distribution and sales
optimization - Correct Answer ✔✔ It usually requires the retailer to limit their brand
selection and decline to handle other brands. It requires the manufacturer to have
exclusive distribution that may limit their long-run total sales.
Both parties work together to maintain an image, assign shelf space, allot profits and
cost, and advertise.
What is Intensive (distribution type) - Correct Answer ✔✔ Where suppliers sell through
as many retailers as possible
Effects on Manufacturer/ retailer relationships in intensive distribution and sales
optimization - Correct Answer ✔✔ Maximizes suppliers' sales and allowed retailers to
offer many brand and product versions.
very competitive, little space for specific brand, little or no advertising and high prices
What is Selective (distribution type) - Correct Answer ✔✔ Where suppliers sell through
a moderate number of retailers.
Effects on Manufacturer/ retailer relationships in selective distribution and sales
optimization - Correct Answer ✔✔ retailers carry SOME competitive brands, suppliers
have higher sales than in exclusive.
Encourages suppliers to provide some marketing support and retailers to give adequate
shelf spacing.
What is the smoothest relationship? - Correct Answer ✔✔ Exclusive
What is the most volatile relationship? - Correct Answer ✔✔ Intensive
Which relationship is volatile and smooth? - Correct Answer ✔✔ Selective
Figure 1-7: Comparing Exclusive, Intensive, and Selective Distribution - Correct Answer
✔✔ Study from book on page 9
What is Multi- Channel Retailing? - Correct Answer ✔✔ Where a retailer sells to
consumers through multiple retail formats (points of contact) Ex. Websites, physical
stores
The Retailing Concept consist of: - Correct Answer ✔✔ 1. Customer Orientation
2. Coordinated Efforts
3. Value Driven
(TEST 1) QUESTIONS & ACCURATE
ANSWERS RATED 100% CORRECT
What is Retailing? - Correct Answer ✔✔ How firms deliver products to end users.
List the examples of major retailers (2015) - Correct Answer ✔✔ 1. Wal-Mart
2. Kroger
3. Costco
4. Home Depot
5. Walgreens
6. Target
7. CVS Caremark
8. Lowe's
9. Amazon
10. Safeway
Define relationship retailing - Correct Answer ✔✔ where retailers seek to form and
maintain long term bonds with customers, rather than act as if each sales transaction is
a new encounter with them
Retailers role in the sorting process? - Correct Answer ✔✔ 1. collect an assortment
from various sources, buy in large quantity, and sell in small amounts.
2. Communicating both with the customers and the manufacture/wholesaler
3. Retailer feedback - customers learn about the avaliablity and characteristics of a
product, hours, sales and etc from ads of retailers. Wholesales and Manufactures learn
how to better their products and see consumer liking due to retailers.
4. Retailers can also provide transportation, storing and other assets for small suppliers
5. Can complete transactions with customers (filling orders, and convenience)
Figure 1-5: Retailer's role in the Sorting Process - Correct Answer ✔✔ Manufacturer ----
> Wholesaler ---->Retailer ----> Customers
Figure 1-4: A typical Channel of Distribution - Correct Answer ✔✔ Manufacturer ---->
Wholesaler ----> Retailer ----> Final Consumer
What are the types of Distribution? - Correct Answer ✔✔ Exclusive, Intensive, and
Selective
What is Exclusive (distribution type) - Correct Answer ✔✔ Where suppliers make
agreements with one or few retailers, designating such retailers as the only ones to
, carry certain brands or products within a specified geographic area. Ex. One-on-one
relationship
Effects on Manufacturer/ retailer relationships in exclusive distribution and sales
optimization - Correct Answer ✔✔ It usually requires the retailer to limit their brand
selection and decline to handle other brands. It requires the manufacturer to have
exclusive distribution that may limit their long-run total sales.
Both parties work together to maintain an image, assign shelf space, allot profits and
cost, and advertise.
What is Intensive (distribution type) - Correct Answer ✔✔ Where suppliers sell through
as many retailers as possible
Effects on Manufacturer/ retailer relationships in intensive distribution and sales
optimization - Correct Answer ✔✔ Maximizes suppliers' sales and allowed retailers to
offer many brand and product versions.
very competitive, little space for specific brand, little or no advertising and high prices
What is Selective (distribution type) - Correct Answer ✔✔ Where suppliers sell through
a moderate number of retailers.
Effects on Manufacturer/ retailer relationships in selective distribution and sales
optimization - Correct Answer ✔✔ retailers carry SOME competitive brands, suppliers
have higher sales than in exclusive.
Encourages suppliers to provide some marketing support and retailers to give adequate
shelf spacing.
What is the smoothest relationship? - Correct Answer ✔✔ Exclusive
What is the most volatile relationship? - Correct Answer ✔✔ Intensive
Which relationship is volatile and smooth? - Correct Answer ✔✔ Selective
Figure 1-7: Comparing Exclusive, Intensive, and Selective Distribution - Correct Answer
✔✔ Study from book on page 9
What is Multi- Channel Retailing? - Correct Answer ✔✔ Where a retailer sells to
consumers through multiple retail formats (points of contact) Ex. Websites, physical
stores
The Retailing Concept consist of: - Correct Answer ✔✔ 1. Customer Orientation
2. Coordinated Efforts
3. Value Driven
