RETAIL MANAGEMENT EXAM 193 REAL EXAM ACCURATE
QUESTIONS WITH 100% RATED CORRECT ANSWERS EXPERT
VERIFIED GET IT A+ 2025 LATEST UPDATED
1. What are the critical environmental factors in the world of retailing? - (Correct Answer)The
macroenvironment: The impacts of this: including technological, social, and
ethical/legal/political factors.
The microenvironment: Focus specifically on its competitors and customers. Retailers must
respond to broad demographic and lifestyle trends in our society.
1. When you have understood the micro- / macro environment it is time to formulating and
implementing a retail strategy. What should it include? - (Correct Answer)1. The target market,
or markets toward which retailer will direct its efforts.
心的坚强决定了我们的命运。当
2. The nature of the merchandise and services the retailer will offer to satisfy needs of the target
我们面对挫折时，是一颗不屈的
market.
心让我们勇敢前行
3. How the retailer will develop unique assets that enable it to achieve long term advantage over
its competitors.
1. Which are "only the tip of the iceberg"? Explain what this means. - (Correct Answer)Sale
associate, retail employees and cashiers collecting.
Behind the stores, websites and cashiers are an army of managers, responsible for making sure
that products and services are available when, how and were.
1. What does it mean with B-to-C? And what do they need to understand? - (Correct
Answer)Brand managers in B-to-C (business-to-consumer) companies need to understand how
retailers operate and make money, so that they can encourage retailers to offer and promote their
products.
,1. What is the meaning of "identify retailing activities"? - (Correct Answer)Retailing is the set of
business activities that adds value to products and services sold to consumers for their personal
or family use. Retailing also involves the sale of services like a haircut or home-delivered pizza.
1. What is a "nonstore retailer"? - (Correct Answer)No physical store.
E.g. When you order a T-shirt on your phone or buying cosmetics from an Avon salesperson.
(Blocket, tradera)
1. What role has a retailer in a supply chain? - (Correct Answer)Retailers are a key component in
a supply chain that links manufacturers to consumers.
Retailers add more value to the products than the manufacturers or wholesalers.
1. Explain what The value-creating activities? - (Correct Answer)The value-creatin activities
心的坚强决定了我们的命运。当
undertaken by retailers include:
我们面对挫折时，是一颗不屈的
1. Providing an assortment of products and services.
心让我们勇敢前行
2. Breaking bulk
3. Holding inventory
4. Providing services.
1. Explain "Breaking bulk". - (Correct Answer)In order to reduce transport costs, wholesalers
and manufacturers do not often pack with cartons to the products. This benefits both the
manufacturer and the customers. It allows manufacturers to efficiently make and ship
merchandise in large quantities at one time and that lets the consumer to purchase merchandise in
smaller, more useful quantities.
1. Explain "Holding inventory" and what it means for the consumers. - (Correct Answer)It is a
major "value-providing activity". Its a system so that the products will be available when the
consumer wants it.
,It means that the consumer can keep a smaller inventory of products at home, since they know
that the store has it if needed.
1. Explain what "providing services" means. - (Correct Answer)It is meant that services are
offered to facilitate the purchase.
E.g. offer credit, staff in the store that can help the consumer or a chat on a website.
1. End the sentence: Some large retailers, like Costco, functions as... - (Correct Answer).. both
retailers and wholesalers. Because they sell their products to both individuals and to workplaces
such as restaurants.
1. What means with "Vertical integration"? - (Correct Answer)It means that the firm performs
more than one activity. That occurs when a retailer engages in wholesaling activities by operating
心的坚强决定了我们的命运。当
its own distribution center to supply its store.
我们面对挫折时，是一颗不屈的
心让我们勇敢前行
1. When does "Backward integration" arise? - (Correct Answer)It arises when a retailer performs
some wholesaling and manufacturing activities, such as operating warehouses.
1. When does "Forward integration" occurs? - (Correct Answer)It occurs when a manufacturer
undertakes retailing and wholesaling activities, such as apple operating its own retail stores.
1. What is "Retail density"? - (Correct Answer)Retail stores per person.
1. What is the full name of CSR and what does it mean? - (Correct Answer)Corporate social
responsibility (CSR) = involves an organization voluntary engaging in business practices that
meet or exceed the ethical and legal expectations of its stakeholders (the employees, customers,
community and society in general.
, 1. What is an "LEED-certified store"? - (Correct Answer)It is a store working on the leadership
in energy and environmental design certification is based on assessment of the stores impact on
human and environmental health. Ex. water saving, material selection
1. Explain "Sustainable apparel coalition". - (Correct Answer)An industry group called the
Sustainable Apparel Coalition has developed an index to rate the relative sustainability of
apparel. The index considers the entire life of a product from raw materials to disposal.
1. What is the meaning of BoP? - (Correct Answer)Base of the pyramid (BoP) = One segment
group with low income. They are often hard to reach since they don't have access to mass media
and internet.
1. What is the meaning of POS? - (Correct Answer)Point-of-sale (POS) = Many instances that
form a system that automatically adds / produces new products according to the customer's
purchase. Auto order.
心的坚强决定了我们的命运。当
我们面对挫折时，是一颗不屈的
1. What does it mean with "intratype competition"? - (Correct Answer)At first glance, identifying
心让我们勇敢前行
competitors appears easy. A retailer's primary competitors are other retailers that use the same
retail approach. This competition between the same type of retailers is called intratype..
E.g Stadium and Intersport
1. What does it mean with "intertype competition"? - (Correct Answer)Intertype competition =
Scrambled merchandise increases intertype competition, or competitors among retailers that sell
similar merchandise using different types of retail outlets, such as drug and department stores.
E.g. Companies selling clothes with different approach. HM, Stadium.
1. And what is the meaning of "Scrambled merchandise"? - (Correct Answer)It is when retailers
offer merchandise not typically associated with their type of store. Such as clothes in a drugstore.
1. Explain what a retail mix is. - (Correct Answer)Is a set of decisions retailers make to satisfy
customer needs and influence their purchase.
QUESTIONS WITH 100% RATED CORRECT ANSWERS EXPERT
VERIFIED GET IT A+ 2025 LATEST UPDATED
1. What are the critical environmental factors in the world of retailing? - (Correct Answer)The
macroenvironment: The impacts of this: including technological, social, and
ethical/legal/political factors.
The microenvironment: Focus specifically on its competitors and customers. Retailers must
respond to broad demographic and lifestyle trends in our society.
1. When you have understood the micro- / macro environment it is time to formulating and
implementing a retail strategy. What should it include? - (Correct Answer)1. The target market,
or markets toward which retailer will direct its efforts.
心的坚强决定了我们的命运。当
2. The nature of the merchandise and services the retailer will offer to satisfy needs of the target
我们面对挫折时，是一颗不屈的
market.
心让我们勇敢前行
3. How the retailer will develop unique assets that enable it to achieve long term advantage over
its competitors.
1. Which are "only the tip of the iceberg"? Explain what this means. - (Correct Answer)Sale
associate, retail employees and cashiers collecting.
Behind the stores, websites and cashiers are an army of managers, responsible for making sure
that products and services are available when, how and were.
1. What does it mean with B-to-C? And what do they need to understand? - (Correct
Answer)Brand managers in B-to-C (business-to-consumer) companies need to understand how
retailers operate and make money, so that they can encourage retailers to offer and promote their
products.
,1. What is the meaning of "identify retailing activities"? - (Correct Answer)Retailing is the set of
business activities that adds value to products and services sold to consumers for their personal
or family use. Retailing also involves the sale of services like a haircut or home-delivered pizza.
1. What is a "nonstore retailer"? - (Correct Answer)No physical store.
E.g. When you order a T-shirt on your phone or buying cosmetics from an Avon salesperson.
(Blocket, tradera)
1. What role has a retailer in a supply chain? - (Correct Answer)Retailers are a key component in
a supply chain that links manufacturers to consumers.
Retailers add more value to the products than the manufacturers or wholesalers.
1. Explain what The value-creating activities? - (Correct Answer)The value-creatin activities
心的坚强决定了我们的命运。当
undertaken by retailers include:
我们面对挫折时，是一颗不屈的
1. Providing an assortment of products and services.
心让我们勇敢前行
2. Breaking bulk
3. Holding inventory
4. Providing services.
1. Explain "Breaking bulk". - (Correct Answer)In order to reduce transport costs, wholesalers
and manufacturers do not often pack with cartons to the products. This benefits both the
manufacturer and the customers. It allows manufacturers to efficiently make and ship
merchandise in large quantities at one time and that lets the consumer to purchase merchandise in
smaller, more useful quantities.
1. Explain "Holding inventory" and what it means for the consumers. - (Correct Answer)It is a
major "value-providing activity". Its a system so that the products will be available when the
consumer wants it.
,It means that the consumer can keep a smaller inventory of products at home, since they know
that the store has it if needed.
1. Explain what "providing services" means. - (Correct Answer)It is meant that services are
offered to facilitate the purchase.
E.g. offer credit, staff in the store that can help the consumer or a chat on a website.
1. End the sentence: Some large retailers, like Costco, functions as... - (Correct Answer).. both
retailers and wholesalers. Because they sell their products to both individuals and to workplaces
such as restaurants.
1. What means with "Vertical integration"? - (Correct Answer)It means that the firm performs
more than one activity. That occurs when a retailer engages in wholesaling activities by operating
心的坚强决定了我们的命运。当
its own distribution center to supply its store.
我们面对挫折时，是一颗不屈的
心让我们勇敢前行
1. When does "Backward integration" arise? - (Correct Answer)It arises when a retailer performs
some wholesaling and manufacturing activities, such as operating warehouses.
1. When does "Forward integration" occurs? - (Correct Answer)It occurs when a manufacturer
undertakes retailing and wholesaling activities, such as apple operating its own retail stores.
1. What is "Retail density"? - (Correct Answer)Retail stores per person.
1. What is the full name of CSR and what does it mean? - (Correct Answer)Corporate social
responsibility (CSR) = involves an organization voluntary engaging in business practices that
meet or exceed the ethical and legal expectations of its stakeholders (the employees, customers,
community and society in general.
, 1. What is an "LEED-certified store"? - (Correct Answer)It is a store working on the leadership
in energy and environmental design certification is based on assessment of the stores impact on
human and environmental health. Ex. water saving, material selection
1. Explain "Sustainable apparel coalition". - (Correct Answer)An industry group called the
Sustainable Apparel Coalition has developed an index to rate the relative sustainability of
apparel. The index considers the entire life of a product from raw materials to disposal.
1. What is the meaning of BoP? - (Correct Answer)Base of the pyramid (BoP) = One segment
group with low income. They are often hard to reach since they don't have access to mass media
and internet.
1. What is the meaning of POS? - (Correct Answer)Point-of-sale (POS) = Many instances that
form a system that automatically adds / produces new products according to the customer's
purchase. Auto order.
心的坚强决定了我们的命运。当
我们面对挫折时，是一颗不屈的
1. What does it mean with "intratype competition"? - (Correct Answer)At first glance, identifying
心让我们勇敢前行
competitors appears easy. A retailer's primary competitors are other retailers that use the same
retail approach. This competition between the same type of retailers is called intratype..
E.g Stadium and Intersport
1. What does it mean with "intertype competition"? - (Correct Answer)Intertype competition =
Scrambled merchandise increases intertype competition, or competitors among retailers that sell
similar merchandise using different types of retail outlets, such as drug and department stores.
E.g. Companies selling clothes with different approach. HM, Stadium.
1. And what is the meaning of "Scrambled merchandise"? - (Correct Answer)It is when retailers
offer merchandise not typically associated with their type of store. Such as clothes in a drugstore.
1. Explain what a retail mix is. - (Correct Answer)Is a set of decisions retailers make to satisfy
customer needs and influence their purchase.
