Retail and Retailing

The Retail and Retailing Quiz

1. Retail profit is generated by buying at one price, and selling on at another price that will cover overheads and leave an amount for the retailer’s profit.
2. All retailers work directly with manufacturers to come up with “own brand” product.
3. It is up to the vendor (who is bringing the product to market), to manage the product into the marketplace and try to maintain a flow of product that will satisfy demand, but not result in surplus stock. Any surplus will have to be sold below cost and will negatively affect any profit made on the line.
4. Click n collect means that the customer places their order online, then goes to the shop to collect it themselves. One of the reasons this is popular is what is known as the “final mile “.
5. Manufacturers need retailers to act as a middleman between them and the customer principally because they don’t have the retailer’s infrastructure and skill set.
6. Key factors for consumer when selecting delivery options include;-
Select all that apply
7. The Benefits of multi-channel retailing for the retailer include;-
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8. When selecting a product range the buyer will;-
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9. A retailer’s objective usually include ;-
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10. The growth of online has meant for retailers
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