Retail and Retailing Quiz

1This quiz is designed to test your knowledge of these modules of the “Retail”  lessons in the Business Models Courses.  The 17 lessons can be seen here;

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Retail and Retailing Quiz

The Benefits of multi-channel retailing for the retailer include;-
Select all that apply

All retailers work directly with manufacturers to come up with “own brand” product.

The growth of online has meant for retailers

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 “.

A retailer’s objective usually include ;-
Select all that apply

When selecting a product range the buyer will;-
Select all that apply

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.

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.

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.

Key factors for consumer when selecting delivery options include;-
Select all that apply

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