Retail Test 1 Q And A

RETAIL TEST 1 Q AND A

needbjrecognitionbj-bjanswer--
Thebjbuyingbjprocessbjisbjtriggeredbjwhenbjthebjconsumerbjrecognizesbjanbjunsatisfiedbjne
ed.

Selectbjmerchandisebj-bjanswer--
Thebjcustomerbjcomparesbjabjretailer,bjproduct,bjorbjchannelbjasbjabjcollectionbjofbjattributes
bjorbjcharacteristics



InformationbjSearchbj-bjanswer--
Oncebjthebjcustomerbjidentifiesbjabjneed,bjtheybjtypicallybjseekbjinformationbjaboutbjretailer
s,bjchannels,bjorbjproductsbjtobjhelpbjthembjsatisfybjthatbjneed.

Purchasebjofbjmerchandisebj-bjanswer--
Thebjcustomerbjpurchasesbjthebjproductbjorbjservice.

postpurchasebjevaluationbj-bjanswer--
Afterbjmakingbjabjpurchase,bjthebjcustomerbjusesbjthebjproductbjandbjthenbjevaluatesbjthebje
xperiencebjtobjdeterminebjwhetherbjitbjwasbjsatisfactorybjorbjunsatisfactory.

EvaluationbjofbjAlternativesbj-bjanswer--
Basedbjonbjthebjcustomer'sbjinformationbjsearchbjandbjevaluationbjofbjalternatives,bjtheybjs
electbjthebjproduct,bjretailer,bjorbjchannelbjthatbjwillbjbestbjsatisfybjtheirbjneeds.

Demographicsbj-bjanswer--
Easilybjidentifiablebjandbjmeasurable;bjexamplesbjincludebjage,bjincome,bjandbjeducation.

geographicbj-bjanswer--
Wherebjconsumersbjlivebjorbjshop;bjexamplesbjincludebjurban,bjrural,bjandbjsuburban

Psychographicsbj-bjanswer--
Lifestyles,bjvalues,bjandbjmotivators;bjexamplesbjincludebjactivities,bjattitudes,bjandbjopini
ons.

BuyingbjSituationsbj-bjanswer--
Thebjeffortbjitbjwillbjtakebjtobjmakebjthebjpurchase;bjexamplesbjincludebjconvenience,bjneeds
bjandbjwants,bjandbjtiming.

[bjChoosebj]bjBenefitbjGeographicbjBuyingbjSituationsbjPsychographicbjDemographic

Benefitbj-bjanswer--
Thebjimportancebjplacedbjonbjabjproductbjorbjservice;bjexamplesbjincludebjstyle,bjprice,bjand
bjquality.



Substantialbj-bjanswer--
Scottbjknewbjthatbjhebjhadbjtobjreachbjoutbjtobjcustomersbjoutsidebjofbjhisbjcirclebjofbjfriendsbjb

, ecausebjtherebjwerebjnotbjenoughbjofbjthembjtobjsupportbjhisbjstore.bjThisbjisbjanbjexamplebjof
bjabjsegmentbjthatbjisbjnot



geographicbj(sentence)bj-bjanswer--
Scottbjknowsbjthatbjhisbjstorebjwillbjnotbjbebjabjdestinationbjstorebjforbjout-of-
towners.bjThereforebjonebjofbjhisbjprimarybjsegmentationbjmethodsbjisbj______________
__bjsegmentation,bjbecausebjhebjconcentratesbjonbjcustomersbjinbjhisbjtown.

benefitsbj(sentence)bj-bjanswer--
OnebjofbjScott'sbjtargetbjsegmentsbjcentersbjonbjthebjavidbjchef.bjThisbjgroupbjisbjverybjintere
stedbjinbjthebj____________bjofbjthebjproductsbjandbjhowbjtheybjwillbjperformbjwhenbjusedbji
nbjthebjkitchen.

lifestylebj-bjanswer--
AllbjofbjthebjdifferentbjsegmentsbjthatbjScottbjisbjtargetingbjarebjinterestedbjinbjcookingbjorbjlea
rningbjmorebjaboutbjcooking.bjThisbjisbjanbjexamplebjofbj_______________bjsegmentation.

Diversificationbj(Example:bjMichaelbjKors'bjpurchasebjofbjJimmybjChoo)bj-bjanswer--
newbjtargetbjmarketbjandbjnewbjretailbjformat

MarketbjExpansionbj(Example:bjOldbjNavy,bjThebjGap,bjandbjBananabjRepublicbjarebjallbjo
wnedbjbybjThebjGap,bjInc.)bj-bjanswer--NewbjTargetbjandbjexistingbjretailbjformat

FormatbjDevelopmentbj(Example:bjMacy'sbjBackstagebjOff-price)bj-bjanswer--
existingbjtargetbjandbjnewbjretailbjformat

MarketbjPenetrationbj(Example:bjStarbucksbjusingbj"gamificiation"bjthroughbjtheirbjappbjtobj
getbjcustomersbjtobjbuybjmorebjandbjmorebjoften)bj-bjanswer--
existingbjtargetbjandbjexistingbjretailbjformat

bedbjbathbjandbjbeyondbj-bjanswer--Thisbjisbjthebjentitybjthatbjsellsbjthebjproduct.

wamsuttabj-bjanswer--Thisbjisbjthebjentitybjthatbjbuys,bjstores,bjandbjresellsbjthebjproduct.

youbj-bjanswer--Thisbjisbjthebjentitybjthatbjpurchasesbjthebjproduct.

Physicalbjretailbjsalesbjmakebjupbjapproximatelybjwhatbjpercentbjofbjallbjretailbjsales?bj-
bjanswer--90%



JiangsubjHonglibj-bjanswer--Thisbjisbjthebjentitybjthatbjmakesbjthebjproduct.

Therebjhasbjbeenbjabjshiftbjinbjconsumerbjbehaviorbjregardlessbjofbjthebjmodebjofbjshoppingbj
(onlinebjorbjinbjabjphysicalbjstore).bjConsumersbjarebjchoosingbjtobjspendbjmorebjofbjtheirbjm
oneybjonbj-bjanswer--experiences

Abjsectorbjofbjretailingbjthatbjhasbjbeenbjinbjabjdeclinebjforbjsomebjtimebjisbj-bjanswer--
departmentbjstores

Onebjtellingbjsignbjthatbjphysicalbjretailbjisbjnotbjdeadbjisbjthatbj-bjanswer--originalbjonly-
onlinebjretailersbjarebjopeningbjstores.