Retail Knowledge Quiz

What is the process of selling goods and services directly to consumers for personal use?

• Wholesaling

• Retailing

• Manufacturing

• Distribution

What type of distribution channel involves selling goods directly from producers to consumers?

• Indirect Channel

• Wholesale Channel

• Direct Channel

• Retailer Channel

What strategy integrates physical stores, e-commerce platforms, and mobile apps for a unified experience?

• Multichannel Retailing

• Traditional Retailing

• Omnichannel Retailing

• Single-Channel Retailing

What is the term for a store that focuses on a specific product category, such as electronics or fashion?

• Department Store

• Warehouse Club

• Specialty Store

• Hypermarket

What is the primary goal of Customer Relationship Management (CRM) in retail?

• Increasing product pricing

• Building customer loyalty

• Reducing employee turnover

• Expanding product lines

Which type of retail store primarily sells food and household items in a self-service format?

• Convenience Store

• Supermarket

• Warehouse Retailer

• Discount Store

What is a retailer’s role as a channel of communication?

• Eliminating the need for branding

• Delivering customer insights to manufacturers

• Controlling customer access to wholesale products

• Acting as the final producer of goods

What factor is most important when choosing a retail location?

• Distance from suppliers

• Foot traffic and accessibility

• Proximity to competitors

• Employee preference

Which of the following best describes a SMART objective?

• Simple, Meaningful, Applicable, Relevant, Tested

• Specific, Measurable, Achievable, Realistic, Time-based

• Strategic, Market-driven, Analytical, Reactive, Transparent

• Sustainable, Measurable, Adaptive, Reliable, Timely

What is the difference between intra-type and intertype competition?

• Intra-type is within the same category; intertype is between different categories

• Intra-type is only online; intertype is in physical stores

• Intra-type is government-regulated; intertype is not

• Intra-type involves wholesalers; intertype involves manufacturers