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Business of retail

Quiz by Tonnique

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8 questions
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  • Q1
    What is a 'supply chain' in retail?
    The marketing strategy for new products
    The pricing structure of merchandise
    The customer service system of a retail store
    The network of entities involved in delivering products to customers
    30s
  • Q2
    What is 'visual merchandising' in the context of retail?
    The practice of optimizing product display to enhance sales
    The process of selling products online
    A strategy for pricing products competitively
    The calculation of sales taxes
    30s
  • Q3
    What does the term 'point of sale' (POS) refer to in retail?
    The price of a product before discounts
    The marketing strategy for new products
    The location where a customer completes a purchase
    The area where products are displayed
    30s
  • Q4
    What is the purpose of inventory management in retail?
    To limit customer choices
    To eliminate all unsold goods
    To increase product prices
    To ensure that products are available for sale without overstocking
    30s
  • Q5
    What is the primary goal of a retail business?
    To enhance product quality
    To maximize profit
    To increase customer satisfaction
    To maintain inventory
    30s
  • Q6
    Which of the following is a common pricing strategy used in retail?
    Cost-plus pricing
    Premium pricing
    Competitive pricing
    High-margin pricing
    30s
  • Q7
    Which of the following is an example of omnichannel retailing?
    A retail store located in a mall
    A store that only sells through social media
    A store that sells online and in-store
    A business that only sells over the phone
    30s
  • Q8
    What is a common method retailers use to attract customers during holiday seasons?
    Free shipping all year
    Exclusive store credit
    Increased prices
    Promotional discounts
    30s

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