Retail Management
Exam I Review – Chapters 1-4
Chapter 1 – An Introduction to Retailing
1. Define retailing and indicate how it is different from wholesaling
2. What are the major reasons for studying retailing?
3. How does retailers function in the distribution channels- what does retailers do for
consumers, wholesalers and manufacturers/
4. Define multi channel retailing
5. Explain the major relationships among retailers and suppliers – (market coverage was
the topic in principles.)
6. What are the special characteristics of retailing?
7. Define the retail strategy
8. Explain the “retail concept” and key components of the concept
9. Define the following concepts
a. total retail experience
b. customer service
c. relationship retailing
Chapter 2 –Building and Sustaining Relationships in Retailing
1. Define value and explain its importance in retailing
2. Know the value concept from the perspective of both the retailer/wholesaler and
the customer
3. Define retail value chain and (expected and argumented aspects)
4. What the major pitfalls to planning value oriented retail strategy
5. How do you build a retail relationship (Explain the 4 components)
6. Explain channel relationships and its impact on retailing with value delivery
system
7. How is goods retailing different from service retailing
8. How beneficial is technology in relationship retailing – be able to explain9. Define the following concepts and understand their importance in retailing
a. Ethics
b. Social Responsibility
c. Consumerism
Chapter 3 – Strategic Planning In Retailing
1. Define retailing strategy
2. What are the benefits of good strategic retailing planning?
3. Explain the components of strategic retail planning.
4. What is a situation analysis?
5 How is an organization mission described?
6. Know the three major forms of retail ownership and benefits of each
7. What are the major issues that must be address in selecting the type of retail
ownership—Goods/Service category, personal abilities, Financial resources and time
requirements
8. What are retail objectives – gives examples
9. How is customer group selected?
Target marketing vs. mass marketing
Concentration and differentiation strategy
10. Explain what a competitive advantage is
11. Explain the different between the controllable variables
and uncontrollable variables in strategic planning in retailing
Chapter 4 – Retail Institutions by Ownership
Define retail institution
Understand retail instructions based on
a. ownership type ( Major types)- Know the advantages and disadvantage associated
with each
independent
chain
Franchise
Leased department
VSM
Consumer cooperativ
b. Store based -Major types_ ( 13 different types) Be familiar with each and
advantages
c. NonStore based retail strategy mix and non traditional retailing
What are major categories of franchising businesses. Which is most dominant? Give
some major examples of franchises in each types.
Chapter 5 Retail Institutions by Store –Based Strategy Mix
1. What does it take to be come a destination retailers. What approaches can be used
either along or in combination to reach this status
2. Understand the concept of Wheel of Retailing
3. What does a retailer have to do scrambled merchandise. Why does it occur
4. Explain the concept of the retail life cycle
5. Explain how retail instiituions are evolving – mergers, diversification and downsiing
6. What is involved in cost containment and the purpose of it
7. Be familiar with the different retail institutions categorized as having a store based
strategy mix
Food – Oriented Retailers
Convenience Stores
Super markets ( 2 types)
Combination stosres
Box and warehouse stores
General Merchandise stores
Speciality stores
Traditional department stores
Full line discount stores
Variety stores
Off priced stores
Factory outlet
Membership club
Fea market