Business of Retail Chapter 3

Front

While the season is changing from summer to back to school, a manager asks a sales associate for ideas on a sales strategy that will help clear out the remaining summer merchandise. Which of the following strategies is most likely to help reach this goal? Reduce pricing on summer apparel by 60% or more and add incentives for purchasing sunscreen, bathing suits, and tank tops, Suggest shipping the summer merchandise to an outlet store to make room for the spring line, Put up signs throughout the store stating that all summer merchandise is "while supplies last", Introduce an employee incentive plan for the salesperson who sells the most summer apparel that week

Back

Reduce pricing on summer apparel by 60% or more and add incentives for purchasing sunscreen, bathing suits, and tank tops

Front

Your store is running a promotion on pickles. They have created an end-cap display. A customer accidentally runs into the display with their shopping cart and many bottles of pickles fall and break. You see the mess as you walk by. What's the best next step for the sales associate?

Back

Check on the shopper to ensure they are unharmed and direct traffic away from the area until it can be cleaned up

Front

What should a store do with their 4th of July merchandise on the 5th of July?

Back

Mark down the merchandise

Front

Sharon is a sales associate and recently changed the arrangement of the merchandise on the sales floor and would like to determine whether the new setup is helping sales. Which is the best way for Sharon to accomplish this?

Back

Pull sales reports from before and after the merchandising change and compare the associated sales figures.

Front

A shoe store is selling sandals, and a sales associate notices that a nearby department store is running a sale on sandals for the same price. What is the best strategy the associate can use to make sure the shoe store's sandals sell?

Back

Use approved signage that advertises the sandals as the store's "everyday low price"

Front

__________ is the action of promoting and selling products and services through advertising, space management, and product branding.

Back

Marketing

Front

Visual merchandising accomplishes which of the following: Allows customers to make a connection with products, Promotes products using magazine advertisements, Creates advertising billboards, Organizes merchandise in the stockroom

Back

Allows customers to make a connection with products

Front

Which statement best describes having hands-on instructional classes (i.e. interior painting, laying tiles, repairing a leaky faucet, etc.) at Lowe's, the home improvement store?

Back

Customer's confidence in instructors will in turn boost their own confidence so that they can complete a project on their own after visits to the store to take classes.

Front

Which is NOT a component of a marketing plan? Options: Price, Product, Promotion

Back

Planogram

Front

Bill is creating and selling homemade cookies. Which of the following factors does NOT directly affect how much Bill will sell his cookies for? The oven temperature Bill uses when he bakes his cookies, The prices that Bill's competitors charge for similar cookies, The price of sugar, The amount of money Bill wants to make on each sale

Back

The oven temperature Bill uses when he bakes his cookies