Retail Industry Exam 1 Questions Answered Correctly – Expert Verified | Latest Version 2024/2025

__________ refers to the way people live, how they spend their time and money, what activities they pursue, and what their attitudes and opinions are about the world in which - Lifestyle / Psycho-graphics A cruise ship specializing in entertaining families with children would most likely be using __________ segmentation to attract business - Demographic A multichannel retailer is one that: - sells merchandise or services through more than one channel. Example : J. Crew, forever 21 A party plan system: - Is based on the idea that social relationships influence buying habits A retail market segment that is __________ means that the retailer should know what to do to satisfy the needs for the consumers in the segment. - Actionable A retailer's role in a supple chain is to: - Satisfy the needs of ultimate consumers A set of decisions retailers make to satisfy customer needs and influence their purchase decisions is called: - The retail mix