WITH SOLUTIONS GRADED A+
◉ 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?
Answer: D. Customers
◉ which of the following is a term for intangible things, such as
providing delivery, that are sold by retailers? Answer: C. Services
◉ what kind of things does a manufacturer produce? Answer: D.
Finished products
◉ which of the following holds large quantities of product that are later
sent either to retail locations or directly to customers? Answer: C.
Distribution center
◉ which of the following terms best describes a grower of potatoes?
Answer: A. Manufacturer
◉ The majority of retailers are: Answer: A. Independently owned
, ◉ 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? Answer: B. Omnichannel
◉ which of the following is the standard definition of a retail
ecosystem? Answer: A. An interconnected system of approaches for
meeting the goal of retailing, which is to provide customers with the
merchandise and services they want.
◉ Approximately what percentage of U.S jobs are retail jobs, as of
2019? Answer: C. 20-25%
◉ These customers can take a long time to make a purchase decision,
and might return to a retailer several times before making a purchase.
Answer: D. Comparison shoppers
◉ These customers tend to make quick purchase decisions, often buying
inexpensive items that are not high importance to them. Answer: B.
Impulse buyers
◉ These customers tend to spend a lot of time checking out products and
prices through online sites, visiting different stores and comparing
retailer ads. Answer: D. Comparison shoppers