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1. Which phase of analytics uses past data and models to estimate what's likely to happen next?
A) Descriptive
B) Generative
C) Predictive
D) Prescriptive
2. Define Share of Wallet (SOW) for a retailer.
A) The proportion of shoppers who enter a store and proceed to make a purchase in a specific category over a given timeframe.
B) The proportion of shoppers who enter a store and proceed to make a purchase in a specific category in a single trip.
C) The proportion of a customer's total spending within a specific product category that goes to a particular retailer, as opposed to competitors, over a given timeframe.
D) The proportion of a customer's total spending within a specific product category that is spent in the marketplace.
3. What is the primary purpose of a promotional strategy?
A) To drive product awareness, increase sales, and influence shopper behavior through targeted promotions.
B) To determine the pricing strategy for all products in the store.
C) To create a long-term business plan for overall company growth.
D) To manage supply chain operations and inventory levels.
4. Which of the following best defines the key stages and components of a retail supply chain?
A) The financial planning and budgeting for inventory purchases
B) The transportation and storage of goods from manufacturers to warehouses
C) The marketing strategies used to promote products to customers
D) The processes and systems that ensure product flow, reduce waste, and impact freshness, cost, availability, and customer satisfaction
5. Which of the following best describes incremental drivers in category planning?
A) Decisions that remain constant throughout the category planning cycle, such as product assortment and shelf space.
B) Tactics that are only applied to niche segments within a category, such as premium product lines.
C) Tactics that are changed often during a category planning cycle, such as temporary price reductions, ads, and displays.
D) Strategies focused on long-term category growth, such as brand positioning and market expansion.
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: C | Question # 3 Answer: A | Question # 4 Answer: D | Question # 5 Answer: C |
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