RETAILING MANAGEMENT FINAL PAPER
TESTED QUESTIONS WITH VERIFIED
ANSWERS COMPLETE STUDY SHEET
●● Race to the Bottom
Answer: competing on price alone
●● Customer Journey
Answer: looking for other ways to make consumers see value, focusing
on experience of customer
●● Paradox of Choice
Answer: as consumers, we are overwhelmed when we have too many
options; we like options, up until a certain point
●● Core Customers
Answer: center of retailing activities
●● Unbanked customer
Answer: customer has no affiliation with a bank; all cash transactions
●● Millennials
, Answer: 1) want to own less and lease more
2) do research online before purchasing
3) "real time customers"; wait until last minute to shop
●● Retail Philosophy
Answer: retailers can best address these questions by fully understanding
and applying basic principles of retailing, maintaining a focused
retailing strategy
●● Top 5 Largest Retailers (per sale)
Answer: 1. Wal-Mart
2. Kroger
3. Costco
4. Home Depot
5. Walgreens
●● Distribution Channel
Answer: Manufacturer --> Wholesaler --> Retailer --> Final Consumer
●● Elon Musk (test question details)
Answer: - Musk wanted to sell direct to consumer so that he could
maintain control over his brand and how it is presented
- Wants his stores to be an education facility about Tesla
TESTED QUESTIONS WITH VERIFIED
ANSWERS COMPLETE STUDY SHEET
●● Race to the Bottom
Answer: competing on price alone
●● Customer Journey
Answer: looking for other ways to make consumers see value, focusing
on experience of customer
●● Paradox of Choice
Answer: as consumers, we are overwhelmed when we have too many
options; we like options, up until a certain point
●● Core Customers
Answer: center of retailing activities
●● Unbanked customer
Answer: customer has no affiliation with a bank; all cash transactions
●● Millennials
, Answer: 1) want to own less and lease more
2) do research online before purchasing
3) "real time customers"; wait until last minute to shop
●● Retail Philosophy
Answer: retailers can best address these questions by fully understanding
and applying basic principles of retailing, maintaining a focused
retailing strategy
●● Top 5 Largest Retailers (per sale)
Answer: 1. Wal-Mart
2. Kroger
3. Costco
4. Home Depot
5. Walgreens
●● Distribution Channel
Answer: Manufacturer --> Wholesaler --> Retailer --> Final Consumer
●● Elon Musk (test question details)
Answer: - Musk wanted to sell direct to consumer so that he could
maintain control over his brand and how it is presented
- Wants his stores to be an education facility about Tesla
