Chapter 1

Question 1

sells products directly to consumers, while a wholesaler sells products to other businesses

Answer 1

Retailer

Question 2

51% ++ more sales volume from consumers (end-users)

Answer 2

RETAILER

Question 3

51% ++ more sales volume from resellers

Answer 3

WHOLESALERS

Question 4

A PROCESS of DISTRIBUTING GOODS where the seller buys products from the manufacturing firms or companies and sells goods to consumers directly

Answer 4

RETAILING

Question 5

Somebody who buys goods from one organization and sells them to consumers at some percent of profit.

Answer 5

RETAILER

Question 6

RETAIL BUSINESS MODEL CONSISTS OF WHAT?

Answer 6

Manufacturer > Wholesaler> retailer> Customer

Question 7

involves a business buying goods in BULK from MANUFACTURERS or WHOLESALERS and then selling them to individual consumers at a higher price, aiming to generate profit through the markup

Answer 7

RETAIL BUSINESS MODEL

Question 8

The NETWORK OR SYSTEM
through which products passes from the manufacturer to the end consumer.`
Involving retailers, wholesalers, distributors, middlemen, agents and other intermediaries, including physical stores, online platforms, and mobile apps

Answer 8

RETAIL DISTRIBUTION CHANNEL

Question 9

A retailer is also known as a ___________ because he buys and products from one party distributes and sells it to another.

Answer 9

Reseller

Question 10

the network of businesses or intermediaries through which a good or service passesuntil it reaches the end consumer.

Answer 10

A distribution channel

Question 11

Origin of Retail

Answer 11

French word: Re and Tailer

Question 12

Re and tailer meaning

Answer 12

Cut again

Question 13

Small portions in tagalog

Answer 13

Tingi

Question 14

goods from an importer or manufacturer directly or through a wholesaler to sell small portions of goods to final-consumers

Answer 14

Retail purchase goods

Question 15

are also referred to as stores or shops.

Answer 15

Retail stores

Question 16

last element of the supply chain

Answer 16

Retailers

Question 17

What was replaced when civilization grew with retail trade, which involved the use of CURRENCIES

Answer 17

BARTER

Question 18

PLACES that was known for establishing open-air market for PRODUCERS and MERCHANTS

Answer 18

EUROPE and MIDDLE EASTERN TOWNS

Question 19

“Retail markets emerged when civilizations created ______ to facilitate commerce.”

Answer 19

Money

Question 20

By the first millennium BCE, ________ _______ was extensive and included branding and packaging.

Answer 20

Chinese Retail

Question 21

The earliest known permanent retail centers were created in ancient Rome.

Answer 21

The Forums

Question 22

referred toopen-air, public spaces where trade, commerce, and social gatherings took place, serving as the earliest examples of permanent retail shop-fronts.

Answer 22

Forums

Question 23

Isan online space for customers to engage with one another about your business.

Answer 23

A customer forum

Question 24

Characteristics of Retail (CIGM)

Answer 24

1. Retailers CONNECT manufacturers and wholesalers to consumers
2. They IDENTIFY SHIFTS IN TRENDS and consumer preferences.
3. Retailers GATHER VALUABLE CONSUMER FEEDBACK and market intelligence
4. Many retailers operate in MULTIPLE FORMATS to expand their customer base and market reach

Question 25

Best example of a retail business

Answer 25

Sari-sari store/ Variety Store

Question 26

refer to the various avenues or platforms through which retailers sell their products or services to consumers.

Answer 26

Retail Channels

Question 27

Main functions of retailing (BSC)

Answer 27

1) Breaking bulk 2) Sorting 3) Channel of Communication

Question 28

Single Channel retailing (Traditional channel)

Answer 28

1. Brick and Mortar 2. Warehouse retailers 3. Chain stores 4. Catalog Retailing

Question 29

means a retailer or producer sells products through only one distribution channel, such as a physical store, an online store, or a specific marketplace, focusing resources on optimizing that single channel. 

Answer 29

Single Channel retailing

Question 31

- These are traditional retail outlets, where customers physically visit to shop - supermarkets, department stores, and specialty shops

Answer 31

Brick and mortar stores

Question 32

-Offer a BARE-BONES shopping experience at very low prices, often with bulk purchases. - examples are PUREGOLD, SAVEMORE SUPER8

Answer 32

Warehouse retailing

Question 33

Retail outlets with MULTIPLE LOCATIONS that SHARE A BRAND, central management, and established business processes. -JUMBO JENRA, BUYMAXX

Answer 33

Chain Stores

Question 34

- Products are advertised through CATALOGS and an accompanying website. - BOARDWALK, AVON - mail-order catalogs, clothing catalogs, and furniture and appliance brochures

Answer 34

Catalog Retailing

Question 35

emphasizes technology, convenience, and a customer-centric approach, leveraging data analytics and various channels to create personalized and efficient shopping experiences. 

Answer 35

Modern Retailing

Question 36

EX: NIKE APP-E-commerce platforms where businesses sell products directly to consumers online. 

Answer 36

Online stores

Question 37

such as Amazon or eBay-Platforms that allow MULTIPLE SELLERS to display and sell their products to consumers,. 

Answer 37

Online marketplace

Question 38

EX: LAZADA AND SHOPEE-Selling products through mobile applications or mobile-optimized websites. 

Answer 38

Mobile stores

Question 39

TIKTOK Using social media platforms to sell products and engage with customers. 

Answer 39

Social Media Channels

Question 40

Selling through multiple channels (e.g., online and in-store) but with separate customer experiences on each channel. 

Answer 40

Multichannel Retailing

Question 41

Seamlessly integrating multiple selling channels to provide a cohesive customer experience across all platforms

Answer 41

Omnichannel Retailing

Question 42

EX: GOOGLE SHOPPING SERVICES-websites that consumers can use to find multiple retailers offering the product they want to buy

Answer 42

Comparison Shopping Engines

Question 43

EX: FACEBOOK REVIEWS-Platforms where consumers can find and share reviews about products and retailers. 

Answer 43

Review sites

Question 44

EX: CAROUSELLE-Retailers use their own platforms to connect brands and consumers, such as Walmart's retail media network. 

Answer 44

Retail Media Network

Question 45

Brands sell products directly to consumers, bypassing traditional retailers. 

Answer 45

Direct-to-consumer (DTC)

Question 46

Brands, manufacturers, and resellers sell their products in bulk to various outlets or retailers for onward sale. 

Answer 46

Wholesale eCommerce

Question 47

Internet Retailers (E-commerce): Businesses selling products or services online through websites or online marketplaces.

Answer 47

Non-Store Retail

Question 48

Retail activities that occur outside of a physical store, such as door-to-door sales or vending machines.

Answer 48

Non-store Retailing

Question 49

Importance of retailing

Answer 49

- In retail stores, retailers get OPPORTUNITIES TO INTERACT W/ CUSTOMER (the ultimate consumers of your products). - provide chances to them view and test

Question 50

Retail market size percentage

Answer 50

11.68% in 2021-2026 10.42% Year-over-year growth

Question 51

Top 4 contributors to the retail industry

Answer 51

Food, Gadgets, Personal care, Clothes

Question 52

Why Retailing is important?

Answer 52

1. Sales to Ultimate consumers of the products 2. A convenient form of selling quantity-wise 3. Convenient Place and Location 4. The lifestyle of the people are shaped by retailing 5. Retail businesses contribute to the economy 6. Retail dominates the supply chain 7. RETAIL IS INTER DISCIPLINARY (relate to more than one branch of science/knowledge.) 8. Retailers provide maximum employment 9. Retailing is an important subject area of study 10. Retailing offers scope for expansion in other countries 11. Retailers rule the channel of distribution 12. Provides comfort and facilities for shopping 13. Provide profit and services to the channels on top (wholesalers, manufacturers) 14. Provision of warehousing and storage 15. Advantage of an expert and specialist 16. Creates utilities and value

Question 53

is a process that store leaders participate in to encourage sales, enhance store associates' performances and exceed customers' expectations. These practices aim to build customer loyalty and improve efficiency. They also may help teams stay aligned, progressing toward common goals.

Answer 53

Retail management

Question 54

will provide you with the opportunities to make your store work and make you in charge of it. you will be in charge to interact with highest level corporates to the lowest level sales person.

Answer 54

Retail Management job

Question 55

is responsible for various tasks such as interacting with customers at entry level, communicating with merchandisers who deliver merchandise for the store, visual presentations, products, customers service, and sales team, etc.

Answer 55

A retail manager

Question 56

oversees the smooth operations and financial success of a store

Answer 56

Retail Manager

Question 57

Advantages working as a Retail Manager

Answer 57

- More money and experience - Leadership and Team Management - Personal Growth and Development - - Global Travel Opportunities - Influence on Company Culture - Business Management Skills - Work Environment - Customer Interaction and Problem-Solving Skills

Question 58

Disadvantages

Answer 58

Long and Unpredictable Hours High-Pressure Environment Limited Flexibility Increased Responsibility You Get the Blame You Have to Hire/Fire People Dealing with Difficult Customers and Bureaucracy Workday doesn't end when you leave work