1) Process of selling products and/or sevices to customers in order to earn a profit a) retail b) retailer c) customers d) products e) services 2) Intangible things meaning they can't be physically owned by the customer (ex: lawn mowing, hair care, personal training, etc.) a) retail b) retailer c) customers d) products e) services 3) Shoppers/people who purchase goods or services from a business a) retail b) retailer c) customers d) products e) services 4) A business or person that sells products and/or services to customers a) retail b) retailer c) customers d) products e) services 5) Merchandise/physical goods that are bought and sod (ex: food, clothes, household items, etc.) a) retail b) retailer c) customers d) products e) services 6) Product Distribution Channel Option a) Retailer; Manufacturer; Wholesaler; Customer b) Customer; Retailer; Wholesaler; Manufacturer c) Manufacturer; Wholesaler; Retailer; Customer 7) Types of Retail Ownership: Independent a) Typically a single store or a small chain b) A business owned by shareholders through publicly traded stock c) Typically limited ownership to a single or small number of owner investors d) License granted to another entity to retail a company's products or services 8) Types of Retail Ownership: Franchise a) Typically a single store or a small chain b) A business owned by shareholders through publicly traded stock c) Typically limited ownership to a single or small number of owner investors d) License granted to another entity to retail a company's products or services 9) Types of Retail Ownership: Corporation a) Typically a single store or a small chain b) A business owned by shareholders through publicly traded stock c) Typically limited ownership to a single or small number of owner investors d) License granted to another entity to retail a company's products or services 10) Types of Retail Ownership: Private Company a) Typically a single store or a small chain b) A business owned by shareholders through publicly traded stock c) Typically limited ownership to a single or small number of owner investors d) License granted to another entity to retail a company's products or services 11) Which of the following is a term for PHYSICAL GOODS that are BOUGHT and SOLD? a) sales b) products c) pricing d) services 12) Which of the following is a standard term that describes the AUDIENCE of RETAIL STORES - this is, the PEOPLE who will BUY things from the stores? a) manufactureers b) wholesalers c) buyers d) customers 13) Which of the following is a term for INTANGIBLE THINGS, such as providing delivery, that are sold by retailers? a) gifts b) training c) services d) products 14) Which of the following terms best describes a GROWER OF POTATOES a) manufacturer b) wholesaler c) distribution center d) retailer 15) The majority of retailers are: a) independently owned b) corporations c) franchises d) online only 16) Which of the following is the term for the retailing approach that places the focus on creating a seamless shopping experience for customers by integrating multiple channels? a) multichannel b) onmichannel c) integrated channel d) seamless channel 17) Approximately what percentage of U.S. jobs are retail jobs, as of 2019? a) 5-10% b) 10-15% c) 20-25% d) 35-40% 18) Choosing products to offer customers a) selection b) allocation c) distribution d) selling e) markdowns 19) Handing out products and replenishing them a) selection b) allocation c) distribution d) selling e) markdowns 20) Moving excess and seasonal inventory out a) selection b) allocation c) distribution d) selling e) markdowns 21) Separating products to various locations a) selection b) allocation c) distribution d) selling e) markdowns 22) Giving products for money a) selection b) allocation c) distribution d) selling e) markdowns 23) Choose ALL distribution center areas: a) logistics b) inbound c) picking d) packing e) outbound f) facilities and maintenance 24) What kinds of things does a manufacturer produce: a) raw materials b) fossil fuels c) services d) finished products 25) Which of the following holds large quantities of product that are later sent either to retail locations or directly to customers? a) manufacturer b) wholesaler c) distribution center d) retailer 26) Which of the following would not be a factor that affects which products a retailer chooses to select to offer in a store? a) local customer prepferences b) manufacturer incentives c) emploee preferences d) the store's location 27) What's the term that describes distributing merchandise from the manufacturer to a retailer's locations? a) innovation b) allocation c) alleviation d) reimagination 28) What's the term for REDUCING the PRICE of an item in order to encourage sales? a) net profit b) margin c) markup d) markdown 29) Choose all Jobs in Retail Sales and Customer Service: a) sales manager b) sales associate c) counter sales d) cashier e) clerk f) desk associate 30) Which product has the SHORTEST shelf life? a) prepared foods b) perishable foods c) non-perishable foods d) seasonal merchandise e) merchandise without expiration 31) Which product has the LONGEST shelf life? a) prepared foods b) perishable foods c) non-perishable foods d) seasonal merchandise e) merchandise without expiration 32) Which picture shows a distribution channel? a) b) c) d)

Welcome to Retail 1.1 & 1.2

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