Business of Retail Ch 3

Front

What is the best strategy to clear out remaining summer merchandise during a seasonal transition?

Back

Reduce pricing on summer apparel by 60% or more and add incentives for purchasing related items.

Front

What should a sales associate do if a display is damaged and poses a safety risk?

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 is the recommended action for leftover holiday merchandise after the holiday has passed?

Back

Mark down the merchandise.

Front

How can a shoe store compete with a nearby department store selling sandals at the same price?

Back

Use approved signage that advertises the sandals as the store's 'Everyday low price.'

Front

What is the purpose of visual merchandising in retail?

Back

Allows customers to make a connection with products.

Front

What is an end-cap display in retail?

Back

A display located at the end of an aisle, designed to attract customer attention.

Front

What is the significance of employee incentive plans in retail sales?

Back

They motivate employees to increase sales and improve performance.

Front

How can markdowns affect inventory management?

Back

Markdowns can help clear out old inventory to make room for new products.

Front

What role does customer service play in retail?

Back

It enhances customer satisfaction and encourages repeat business.

Front

What is the impact of pricing strategies on consumer behavior?

Back

Pricing strategies can influence purchasing decisions and perceived value.