Retailing Management Review Sheet – Exam 1
The first exam covers chapters 1-3, 5, 6, and 19 and all class discussion. The following list of
concepts discussed in class will help you prepare for the exam. In addition, be sure to read the
chapters and take a look at the terms in each chapter and discussion questions.
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What is retailing?
Retailer as a channel member
Power in the channel
Types of distribution – exclusive, selective, and intensive
Role of retailers and the value they provide
Types of retailers
Multichannel retailing
Relationship retailing
Core customers
Service strategies – expected vs augmented
Customer satisfaction – what is it and when does it exist?
Gap Model of service quality – Knowledge gap, standards gap, delivery gap,
communications gap
Strategic planning process
Basis for a sustainable competitive advantage
Loyalty programs
Intratype vs intertype competition
Merchandise - Breadth (variety) and depth (assortment), SKU
Strategic opportunities for growth: market penetration, market expansion, retail format
development, diversification
Strategies for a mature retailer
Institutional change: Wheel of Retailing, Retail Life Cycle, Accordian Theory, Dialectic
process (competitive focus), Natural Selection (environmental response)
Strategic Profit Model
Strategies for increasing asset turnover, profit margins, financial leverage, ROA
Know how to calculate:
o Gross Margin
o Net worth
o Asset turnover
o Inventory turnover
o Net profit margin
o Net sales
o Financial leverage
o ROA
o RONW
Retail technology – How is the web and technology changing the way business is done?
Supply chains
Use of technology and ecommerce by retailers