v RETAIL INDUSTRY FUNDAMENTALS EXAM QUESTIONS AND ANSWERS #3
1. what kinds of things does a manufacturer produce?: finished products
2. which of the following holds a large quantities of product that are later sent either to retail
locations or directly to customers?: distribution center
3. which of the following would NOT be a factor that affects which products a retailer chooses to
select to offer in a store?: employee preferences
4. what's the term that describes distributing merchandise from the manufac- turer to a retailers
locations?: allocation
5. what's the term for reducing the price of an item in order to encourage sales?: markdown
6. Which of the following is a term for physical goods that are bought & sold?: Products
7. Which of the following is a standard term that describes the audience of retail stores— that is,
the people who will buy things from the stores?: Cus- tomers
8. Which of the following is a term for intangible things, such as providing delivery, that are sold
by retailers?: Services
9. Which of the following term best describes a grower of potatoes ?: Manu- facturer
10.The majority of retailers are: independently owned
11.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?: Omnichannel
12.Approximately what percentage of US jobs are retail jobs as of 2019?: -
20-25%
13.Which of the following is the term for the overall impression gathered from information that is
seen, heard & experienced by customers who encounter a business, it's products & services ?:
Company Brand
14.What kinds of things does a manufacturer produce?: Finished products
15.Which of the following holds large quantities of products that are later sent either to retail location
or directly to customers?: Distribution center
16.Which of the following would NOT be a factor that affects which products a retailer chooses to
select to offer in a store?: Employee preferences
17.What's the term that describes distributing merchandise from the manu- facturer to a retailer's
locations?: Allocation
18.What's the term for reducing the price of an item in order to encourage sales?: Markdown
19.Which of the following is the term for overall impression gathered from information that is seen,
heard and experienced by customers who encounter a business, its products & services?: Company
brand
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1. what kinds of things does a manufacturer produce?: finished products
2. which of the following holds a large quantities of product that are later sent either to retail
locations or directly to customers?: distribution center
3. which of the following would NOT be a factor that affects which products a retailer chooses to
select to offer in a store?: employee preferences
4. what's the term that describes distributing merchandise from the manufac- turer to a retailers
locations?: allocation
5. what's the term for reducing the price of an item in order to encourage sales?: markdown
6. Which of the following is a term for physical goods that are bought & sold?: Products
7. Which of the following is a standard term that describes the audience of retail stores— that is,
the people who will buy things from the stores?: Cus- tomers
8. Which of the following is a term for intangible things, such as providing delivery, that are sold
by retailers?: Services
9. Which of the following term best describes a grower of potatoes ?: Manu- facturer
10.The majority of retailers are: independently owned
11.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?: Omnichannel
12.Approximately what percentage of US jobs are retail jobs as of 2019?: -
20-25%
13.Which of the following is the term for the overall impression gathered from information that is
seen, heard & experienced by customers who encounter a business, it's products & services ?:
Company Brand
14.What kinds of things does a manufacturer produce?: Finished products
15.Which of the following holds large quantities of products that are later sent either to retail location
or directly to customers?: Distribution center
16.Which of the following would NOT be a factor that affects which products a retailer chooses to
select to offer in a store?: Employee preferences
17.What's the term that describes distributing merchandise from the manu- facturer to a retailer's
locations?: Allocation
18.What's the term for reducing the price of an item in order to encourage sales?: Markdown
19.Which of the following is the term for overall impression gathered from information that is seen,
heard and experienced by customers who encounter a business, its products & services?: Company
brand
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4
