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Business 328: Retail Innovation Final Exam

Free Practice Test Instructions:

Choose your answer to the question and click 'Continue' to see how you did. Then click 'Next Question' to answer the next question. When you have completed the free practice test, click 'View Results' to see your results. Good luck!

Question 1 1.

One of the best ways to deal with change is to _____.

Which of these fits the blank?

A. Simply notice that you are in the midst of change and that change is a part of you.

B. Welcome change as a positive opportunity.

C. Realize that change will happen once in a while, and when you fight it, you feel better about yourself.

D. Face your feelings about the change.

Question 2 2. Innovation can be:

Question 3 3. The model which streamlines workflows, and eliminates waste, to keep costs low while maintaining quality is known as:

Question 4 4. Creative destruction is the process by which innovation produces improved processes and better products, making old products obsolete and ultimately destroying the prior economic order. Who created the theory of creative destruction?

Question 5 5. When you begin to consider expanding, which rule is important to remember for profitability?

Question 6 6. What are demographics?

Question 7 7. This type of store experience is often used by brands to generate buzz and lend a marketing edge to a particular product or service.

Question 8 8. Retailers can predict future market trends by paying attention to all of these elements EXCEPT which?

Question 9 9. What is a strategic alternative?

Question 10 10. What are the four different strategic alternatives?

Question 11 11. Rebecca has decided it's time to offer a new line of soups to her existing menu. Which tactic is Rebecca using?

Question 12 12. Which of the following is an example of a company that has pursued a low-cost strategy?

Question 13 13. When planning a business strategy, it is important to consider that some _____, such as some types of meat, are not marketable with certain cultures.

Question 14 14. When considering general environment, which of the following statements is TRUE?

Question 15 15. What are the two ends of the spectrum that, in many ways, replaced the ideas of first, second and third world economies, even though some of those terms are still used?

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Business 328: Retail Innovation Final Free Practice Test Instructions

Choose your answer to the question and click 'Continue' to see how you did. Then click 'Next Question' to answer the next question. When you have completed the free practice test, click 'View Results' to see your results. Good luck!

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