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Retail Assortment Plan: Definition & Considerations

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Matt's GMROI for the cowboy boots in his store is -10. What does this mean for Matt's retail strategy?

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1. Leslie wants a deep assortment of products in her bathroom supply store for her summer sale. Which of the following fits this description?

2. Greg's drug store has a wide variety of drugs for sports injury. What does this mean?

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About This Quiz & Worksheet

Test how much you know about retail assortment plans with these assessments. Topics on the worksheet/quiz include a negative number in a gross margin return on investment (GMROI) and an assortment of products in a supply store for a summer sale.

Quiz & Worksheet Goals

Multiple-choice questions will cover the following:

  • Wide selection at a drug store
  • Strategy of highlighting complimentary merchandise
  • Updating signs and displays for a retail store

Skills Practiced

  • Reading comprehension - make sure you know the most important information from the lesson on retail assortment plans, including an assortment of products for a sale
  • Knowledge application - use your knowledge to answer questions about a negative GMROI number and a variety of drugs that are offered through a drug store
  • Information recall - access the knowledge you've gained regarding an element of the six P's of retail strategy planning

Additional Learning

Learn more about retail planning with the accompanying lesson entitled Retail Assortment Plan: Definition & Considerations. These topics will be explored:

  • GMROI example calculation
  • Optimal retail strategies
  • Importance of these elements for a successful business
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