CTE 3806 EXAM #1 QUESTIONS WITH VERIFIED
ANSWERS | LASTEST UPDATE
Retailing - Answers - A set of business activities that adds value to the
products/services sold to consumers for their personal family/ uses.
Retailers - Answers - The final business within a supply chain which links manufacturers
to consumers
Supply Chain - Answers - A set of firms that make and deliver a given set of
goods/services to the ultimate consumer
Wholesalers - Answers - Buy/store merchandise in large quantities from manufacturers
and then resell the merchandise (usually in smaller quantities) to retailers
Vertical Integration - Answers - firm performs more than one set of activities in the
channel
Ex: retailer invests in wholesaling or manufacturing
Backward Integration - Answers - Retailer performs some distribution and
manufacturing activities
Ex: JCPenney sells Arizona Jeans (Private Label)
Forward Integration - Answers - Manufacturers undertake retailing activities
EX: Ralph Lauren operates its own stores
Corporate Social Responsibility - Answers - The voluntary actions taken by a company
to address the ethical, social, and environmental impacts of its business operations, in
addition to the concerns of its stakeholders
IntraType Competition - Answers - Competition between the same type of retailers
EX: Kroger versus Safeway
Intertype Competition - Answers - Competition between retailers that sell similar
merchandise using different formats, such as discount and department stores
Scrambled Merchandising - Answers - An offering of merchandise not typically
associated with a store type, such as clothing in a drug store.
Breaking Bulk - Answers - A function performed by retailers or wholesalers in which
they receive large quantities of merchandise and sell them in smaller quantities.
, Ethnics - Answers - A system of code of conduct based on universal moral duties and
obligations that indicate how one should behave.
Holding Inventory - Answers - A major value-providing activity performed by retailers
whereby products will be available when consumers want them.
Assortment - Answers - The number of SKUs within a merchandise category. Also
called depth of merchandise
Breadth of Merchandise - Answers - The number of different merchandise categories
within a store or department
Category Killer - Answers - A discount retailer that offers a narrow but deep assortment
of merchandise in a category and thus dominates the category from the customers
perspective. Also called a category specialist.
Convenience Store - Answers - A store that provides a limited variety of and assortment
of merchandise at a convenient location in a 2,000 to 3,000 square foot store with a
speedy checkout
Conventional Supermarket - Answers - `A self-service food store that offers groceries,
meat, and produce with limited sales and of nonfood items, such as health and beauty
aids and general merchandise
Department Store - Answers - A retailer that carries a wide variety and deep
assortment, offers considerable customer services, and is organized into separate
departments for displaying merchandise.
Depth of Merchandise - Answers - The number of SKUs within a merchandise category.
also called depth of merchandise.
Discount Store - Answers - A general merchandise retailer that offers a wide variety of
merchandise, limited service, and low prices
Franchising - Answers - A contractual agreement between a franchiser and a franchisee
that allows that franchisee to operate a retail outlet using a name and format developed
and supported by the franchisor.
Full-Line Discount Store - Answers - Retailers that offer a broad variety of merchandise,
limited service, and low prices.
Hypermarket - Answers - Large (100,000-300,000 square feet) combination food (60-70
percent) and general merchandise (30-40 percent) retailer.
ANSWERS | LASTEST UPDATE
Retailing - Answers - A set of business activities that adds value to the
products/services sold to consumers for their personal family/ uses.
Retailers - Answers - The final business within a supply chain which links manufacturers
to consumers
Supply Chain - Answers - A set of firms that make and deliver a given set of
goods/services to the ultimate consumer
Wholesalers - Answers - Buy/store merchandise in large quantities from manufacturers
and then resell the merchandise (usually in smaller quantities) to retailers
Vertical Integration - Answers - firm performs more than one set of activities in the
channel
Ex: retailer invests in wholesaling or manufacturing
Backward Integration - Answers - Retailer performs some distribution and
manufacturing activities
Ex: JCPenney sells Arizona Jeans (Private Label)
Forward Integration - Answers - Manufacturers undertake retailing activities
EX: Ralph Lauren operates its own stores
Corporate Social Responsibility - Answers - The voluntary actions taken by a company
to address the ethical, social, and environmental impacts of its business operations, in
addition to the concerns of its stakeholders
IntraType Competition - Answers - Competition between the same type of retailers
EX: Kroger versus Safeway
Intertype Competition - Answers - Competition between retailers that sell similar
merchandise using different formats, such as discount and department stores
Scrambled Merchandising - Answers - An offering of merchandise not typically
associated with a store type, such as clothing in a drug store.
Breaking Bulk - Answers - A function performed by retailers or wholesalers in which
they receive large quantities of merchandise and sell them in smaller quantities.
, Ethnics - Answers - A system of code of conduct based on universal moral duties and
obligations that indicate how one should behave.
Holding Inventory - Answers - A major value-providing activity performed by retailers
whereby products will be available when consumers want them.
Assortment - Answers - The number of SKUs within a merchandise category. Also
called depth of merchandise
Breadth of Merchandise - Answers - The number of different merchandise categories
within a store or department
Category Killer - Answers - A discount retailer that offers a narrow but deep assortment
of merchandise in a category and thus dominates the category from the customers
perspective. Also called a category specialist.
Convenience Store - Answers - A store that provides a limited variety of and assortment
of merchandise at a convenient location in a 2,000 to 3,000 square foot store with a
speedy checkout
Conventional Supermarket - Answers - `A self-service food store that offers groceries,
meat, and produce with limited sales and of nonfood items, such as health and beauty
aids and general merchandise
Department Store - Answers - A retailer that carries a wide variety and deep
assortment, offers considerable customer services, and is organized into separate
departments for displaying merchandise.
Depth of Merchandise - Answers - The number of SKUs within a merchandise category.
also called depth of merchandise.
Discount Store - Answers - A general merchandise retailer that offers a wide variety of
merchandise, limited service, and low prices
Franchising - Answers - A contractual agreement between a franchiser and a franchisee
that allows that franchisee to operate a retail outlet using a name and format developed
and supported by the franchisor.
Full-Line Discount Store - Answers - Retailers that offer a broad variety of merchandise,
limited service, and low prices.
Hypermarket - Answers - Large (100,000-300,000 square feet) combination food (60-70
percent) and general merchandise (30-40 percent) retailer.
