Exam (elaborations)
RMM 346 Exam One
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Name: Score:36 Multiple choice questions
Term 1 of 36
retail channel
the opportunity to complete a transaction- the way a retailer sells and delivers merch and
services to its customers (single, cross, omni)
the most important metrics in a retailer's business, help measure the health of your
company/store and determine the steps you need to take to improve (aka KPIs)
output (results of investment decisions), productivity (how effectively retailers use
resources) and input (resources allocated to achieve outputs)
concentrate on limited number of complementary merchandise categories, deep but
narrow variety (apple, victorias secret)
Term 2 of 36
warehouse club
performance cannot be assessed accurately simply by looking at isolated measures
offer limited and irregular assortment of food and general merchandise at low prices
(costco)
provide limited variety and assortment of merch at a convenient location with a speedy
checkout (walgreens)
the number of different items offered in a merchandise category (twix, sour patch, reeses)
, Term 3 of 36
who is accountable for performance
business to business (B2B), business to consumer (B2C) or direct to consumer (DTC),
consumer to consumer (C2C), consumer to business (C2B)
fastest growing segment of grocery market, greater percentage of non-food items
compared to sales in stores
business unit and managers accountable for revenues, expenses, cash flow, and
contribution to ROA they can control
measure the quality of your customer service and provide a reflection of the public's
perception of your business
Definition 4 of 36
self-gratification, status, respect, especially for small, independent businesses
personal objectives
financial objectives
societal objectives
role of benchmarks
Definition 5 of 36
make the world a better place to live, more difficult to measure
financial objectives
personal objectives
variety (breadth)
societal objectives
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