NOCTI #3: Introduction to Retail Management

Which of the following terms describes retail?

• Individually selling products directly to the customer

• The sale of products in bulk directly from the manufacturer

• Locations where manufacturers distribute and sell their goods

• Large self-service grocery stores

Which of the following is a term for physical goods that are bought and sold?

• Pricing

• Services

• Products

• Sales

Amazon is an example of a pure ___________ retailer.

• Television Shopping

• Online

• Direct Sales

• Catalog

Which of the following terms describes wholesale?

• Individually selling products directly to the customer

• The sale of products in bulk directly from the manufacturer

• Locations where manufacturers distribute and sell their goods

• Large self-service grocery stores

When you have a physical retail location, that is known as having a _______________ presence.

• shopping mall

• shopping center

• bricks and mall

• brick and mortar

A retailer with two or more location is often referred to as a/an _____.

• Powerhouse

• Chain

• Oligarchy

• Democracy

What is a niche market?

• A store which has developed branches offering the same product in different locations

• Locations where manufacturers distribute and sell their goods through retailers

• A specialized area of sales targeting a specific group rather than the mass

• An open-air form of retail outlet which often includes multiple sellers gathering in a central location at a designated time

Depth of merchandise refers to _____.

(Think about Nike)

• The number of like items on the shelf available for purchase

• The assortment available within each inventory classification, such as different sizes, colors, and styles of athletic shoes

• The merchandise departments in a store, like notions, health and beauty, and pet supplies

• The difference between the cost of inventory and the final sale price

Which of the following is a standard term that describes the audience of retail stores-that is, the people who will buy things from the stores?

• Buyers

• Wholesalers

• Manufacturers

• Customers

Which of the following is true of a non-franchised chain?

• Are owned by the company and run by a manager hired by the parent company

• Are owned and operated by an individual owner rather than the company

• Generate more profit than franchise chains

• Explain how a mall in one state has many of the same stores and products as a mall in another state