Each Different Item of Merchandise in a Retail Store Is

question 34

Multiple Choice

Each different item of merchandise in a retail store is called a(n) _____________.

• A)consumer offering
• B)store counted item (SCI)
• C)stored and keyed unit (SKU)
• D)stock keeping unit (SKU)
• E)economic unit

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Definitions:

Market Share

The proportion of total sales or revenues that a company or product commands within a specific market or industry.

Follower Strategy

A market approach where a company chooses to enter a market by following in the footsteps of pioneers, often adapting and improving existing products or services.

Existing Product

A product that is already available in the market, as opposed to a new or forthcoming product.