Retail Segments, Target Markets and Marketing Strategies

Instructions:

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

question 1 of 3

Will's Wheels sells new and used bikes along with a full line of replacement parts. Will's is an example of a(n) _____ store.

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1. Which of the following is a characteristic of discount stores?

2. Which retail segment typically offers the greatest variety and quantity of products to their customers?

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About This Quiz & Worksheet

This quiz and worksheet combo will help you quickly assess your understanding of different retail markets and the types of products they sell. You will also be quizzed on the types of customers each retail segment typically attracts.

Quiz & Worksheet Goals

In these assessments you'll be tested on the following terms:

  • Specialty Stores
  • Department Stores
  • Discount Stores
  • Electronic Retailers

Skills Practiced

  • Defining key concepts - ensure that you can accurately define the four common types of retailers
  • Distinguishing differences - compare and contrast the products, customers and service each type of retailer is characterized by
  • Knowledge application - use your knowledge to answer questions about how a producer would utilize different retail segments in order to sell their products

Additional Learning

To learn more about how companies sell their products, review the accompanying lesson Retail Segments, Target Markets and Marketing Strategies. This lesson covers the following objectives:

  • Define retail segmentation and target markets
  • Differentiate between different types of retail segments
  • Understand how different target markets have different buying habits
  • Recognize why companies must use different retail segments to sell to different types of consumers
  • Know the different characteristics, levels of service, and types of products retailers are known for
  • Apply the concept of retail segmentation to a company's marketing strategy
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