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Retail Innovation: Opportunities & Threats Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

Page 1

Question 1 1. If you are calling sales prospects in hopes of selling a product, what type of non-store retailing are you engaged in?

Question 2 2. If you want to be in the thick of a physical retail location but not have a traditional retail store, which of the following would provide you the option?

Question 3 3. Why might someone choose to sell their item through telemarketing versus direct marketing?

Question 4 4. If a bookseller decides to sell books online through a website it developed, what type of retailing is being employed?

Question 5 5. Which one is an example of a purchase someone with a very shy personality might purchase to make them happy?

Page 2

Question 6 6. Which one is NOT a consideration of experiential consumption?

Question 7 7. Which would be an example of a product that appeals to our emotions?

Question 8 8. Purchasing products because of the way we feel or the positive experiences we get because of them is known as what?

Question 9 9. What two things does experiential consumption merge?

Question 10 10. Data, including ages, genders, ethnicities and income, can be useful for retailers' future success. This information is known as what?

Page 3

Question 11 11. An area of opportunity exists for retailers if they will move from selling products to _____.

Question 12 12. What does direct selling encompass?

Question 13 13. Why is the permanency of a retail location of importance to a brand considering a storefront?

Question 14 14. A brand might consider opening its own retail storefront for all of the following reasons EXCEPT which?

Question 15 15. Who is eliminated in the direct to consumer sales model?

Page 4

Question 16 16. This type of retail store may be a good fit for a brand looking to place a large store in a high-traffic area.

Question 17 17. Renee went to a hairdresser highly recommended by her colleague. However, she was not satisfied with the way her hair was styled. How would you explain this?

Question 18 18. What is one difference between service retailers and merchandise retailers?

Question 19 19. Services that cannot be stored for future use are known as _____.

Question 20 20. Barry has a retail outlet selling custom shoes. At what end of the continuum is his retail store?

Page 5

Question 21 21. Why is it important to keep an eye on your competition if you want to be successful in retail?

Question 22 22. When you begin to consider expanding, which rule is important to remember for profitability?

Question 23 23. When a business is striving for profitability and success, putting _____ first is a good strategy.

Question 24 24. When you're thinking about customer experience on your path to retail success, you should look at all of the following areas EXCEPT which?

Question 25 25. What can happen if a business ignores changes in demographics?

Page 6

Question 26 26. What is strategic planning?

Question 27 27. What are demographics?

Question 28 28. Which of these statistics of a population would not be helpful is deciding where to set up a bow tie business?

Question 29 29. Retailing is the activities related to selling goods _____.

Question 30 30. This term is used to describe how our pleasures might move us toward our goals:

Retail Innovation: Opportunities & Threats Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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