Woolworths Is Planning to Redesign the Store Layout of Their

question 1

Multiple Choice

Woolworths is planning to redesign the store layout of their supermarkets to maximise customer flow and the exposure of impulse goods. Which of the following research methods would be most useful to help Woolworths gather the data required for decision-making?

• A) Experiment
• B) Survey
• C) Observation
• D) Depth interview

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Definitions:

Profit

The financial gain achieved when the revenue from business activities exceeds the expenses, costs, and taxes needed to sustain the activity.

Marginal Cost

The cost added by producing one additional unit of a product or service.

Output

The aggregate output of products or services generated by a corporation, sector, or economic system.

Price-Taker Market

A market in which sellers have no ability to influence the price of the goods or services they sell; price is determined by supply and demand.