Computer Science > EXAM REVIEW > CS 561 Exam 1 Review | 55 Questions with 100% Correct Answers | Updated & Verified (All)
CS 561 Exam 1 Review | 55 Questions with 100% Correct Answers | Updated & Verified
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Why does retail exist? - ✔✔its an evolved form of exchange in which people acquire the goods and services they need(or want) to live their lives What are the 3 activities that make retail work? ... (and expand on them) - ✔✔1. Manufacturer: makes the product to be sold (or design and deliver the services) selling to 2. Retailer: takes the products or services to market selling to 3. Consumer: purchases and consumes the goods Do retailers and manufacturers act as functions or entities? - ✔✔Functions What are the 3 waves of the source of power and their time periods? - ✔✔1. producer power(1850-1950) 2. retailer power (1950-2000) 3. consumer power (2000-Today) What are the 3 steps in the building channel strategy? - ✔✔Step 1: understand the building blocks (i.e. individual channel) Step 2: empathize with consumer requirements Step 3: assemble a coherent strategy using only necessary elements [Show More]
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