Retailing

LO1 1) Which of the following is considered to be a retailing transaction according to the this definition of RETAILING - consists of the final activity and steps needed to place merchandise made elsewhere into the hands of the consumser or to provide service to the consumer/

   (a) a student buying an airline ticket from a travel agent.
   (b) a retired farmer setting up a trust account at a local bank.
   (c) a student buying a Mother's Day card.
   (d) a homemaker buying a magazine from a door to door salesperson.
   (e) an appliance repair person coming to your hometo fix a dishwasher.

LO2  3) Many environmental trends are taking place today that will have an effect on retailing operations over the next decade. What are three of these and what are their effects on retialing.

LO3  5) How can a retailer operate with a high margin/high turnover strategy?  Won't customers avoid this type of store and shop at a low-margin store?

LO4  7) What concepts or techniques from economics or accounting are the moste useful in retail decision making?