Exam 1: Introduction to the World of Retailing

Daily Needs and Smart Saves are two large retailers in Canada. They compete with each other using similar marketing strategies. Which form of competition is seen between these two retailers?

Happy Kids clothing store started a program where customers could bring in gently used clothing for donation to a local shelter for women and children. This is an example of which principle of conscious marketing?

Essentials, a retail store, manages its own warehouse. It also owns a manufacturing facility where it produces private-label food products. Therefore, Essentials is practicing

How does scrambled merchandising impact retail competition?

Which of the following does not describe the distribution systems of the major international markets?

When developing the ________ for his salon, Theo decided to obtain a long-term competitive advantage over other salons by offering longer hours, better prices, a well-trained staff, and hair coloring for half-price every Wednesday to attract customers.

A ________ is a business that sells products and/or services to consumers for their personal or family use.

Tech Games, a retailer, purchases of the video games and game consoles on a large scale. It then offers the products to customers in single quantities. The value-creating function performed by Tech Games in the given scenario is

Ethical principles can change over time.

Which of the following is a key strategic decision made by a retailer?

________ describes the voluntary actions taken by a company to address the ethical, social, and environmental impacts of its business operations and the concerns of its stakeholders.

When a firm's leaders adopt a conscious marketing approach

What are the major value-creating activities performed by retailers?

Which of the following value-creating activities has retailers offering products in quantities tailored to customers' consumption patterns?

A ________ refers to the market toward which a retailer will direct its efforts.

________ are the most concentrated sector of the retail industry in the U.S.

More retail transactions take place online now than in stores.

________ is the world's fastest-growing retail market.

Grocers, a large food retailer, purchases fruits from several different tropical countries. When the fruits arrive in distribution centers across the United States, the quantities are reduced to amounts that are appropriate for store delivery. The stores, in turn, offer the fruits in quantities that depend on the consumption pattern of the customers. This act of offering products in smaller quantities based on consumption patterns is known as

Retailing offers entrepreneurial opportunities.