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Chapter 12: Retail Quiz
Test your knowledge of the retail chapter material!
1 / 10
As a reporter, you are welcome to shoot photos or videos inside a retailer any time during operating hours.
The answer can be found on page 130.
That's right! A store is still private property even though the business is open to the public. You should get permission from a manager before filming or taking photos inside a store.
2 / 10
Same-store sales measure the amount of sales that month for stores that have been open for any length of time.
The answer can be found on page 133.
Correct! Same-store or comparable-store sales measure the amount of sales that month only at stores that have been open for at least a year.
3 / 10
What does SKU stand for?
The answer can be found on page 135.
Correct! This refers to the code used to identify each type of product in a store. For example, all of the Honey Nut Cheerios will have one SKU, while the Multigrain Cheerios will have a different SKU. The number of SKUs in a store can give you an idea of the diversity of products it carries.
4 / 10
Holiday stories are always about what is new and different from previous seasons.
The answer can be found on page 129.
That's right! Holiday stories should be about what's interesting. While that may be about what is new and different this year, sometimes readers also want to read about something familiar they find interesting, such as the confectioner's process of making chocolates for Valentine's Day.
5 / 10
If a retailer refers to "opening price points" what are they referring to?
Correct! Retailers typically think of their prices and merchandise in terms of “good, better and best.” Good is the cheapest and most basic product; best is the most expensive and elaborate.
6 / 10
Which one of these organizations is not one of the three retail trade groups suggested in the chapter?
Super star! That is correct!
7 / 10
Visual merchandising is the practice of creating visually appealing displays and in-store experiences to drive traffic and maximize sales.
Correct! Brick-and-mortar stores spend a lot of time analyzing and adjusting their visual displays to help maximize traffic and sales.
8 / 10
Which of these organizations release retail data that will be useful to your reporting?
Correct! These are just three of the many data resources available to you as a retail reporter.
9 / 10
The retail beat is often combined with coverage on commercial real estate.
The answer can be found on page 131.
That's right! Commercial developers seek to build successful shopping centers, so they must understand retailers and stay on top of the latest store formats and popular brands. They tend to have the scoop on new stores coming to town and which ones may be leaving.
10 / 10
When is Super Saturday?
Correct! This is a contender for the biggest shopping day of the year along with Black Friday.
Your score is
The average score is 45%
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