1 Describe the consumer decision process and how does cognitive dissonance fit into consumer buying decisions? Would the process be the same for a need or a desire? 3 It is said that a poor retail location is such a liability that even a superior retailer cannot overcome it. Is this always true? Give examples. 4 How might a convenience store use a basic stock list, model stock plan, and a never-out list? Describe the inventory construct of a convenience. 5 Compare and contrast the pricing strategy of a discount retailer, a department store and a convenience store. 6 What is meant by selling, merchandise, personnel and customer space? How do these various types of space fit into the concept of atmosphere? 7 What are the factors that go into the retail promotional mix? How do retailers integrate and use these elements to maximize their sales? 8 What is a retail audit and differentiate between a horizontal and vertical retail audit. What is the importance of a retail audit to the management of the company?