Question 1

A retailer that carries a broad variety and deep assortment, offers customer services, and is organized into distinct sections for displaying merchandise is called a(n)

Accepted Answer

A)  off-price retailer. 
B)  department store. 
C)  discount retailer. 
D)  convenience store. 
E)  specialty retailer. 
A)  off-price retailer. 
B)  department store. 
C)  discount retailer. 
D)  convenience store. 
E)  specialty retailer.

Question 2

To be competitive in today's marketplace, supermarkets are focusing on offering fresh perishables and providing better value with private-label merchandise.

Accepted Answer

A) True 
 B)False

Question 3

Differentiate between variety and assortment of merchandise offered by a retailer.

Accepted Answer

Variety is the number of merchandise cat

Question 4

Which of the following statements best defines a warehouse club?

Accepted Answer

A)  They are stores that provide a large variety and assortment of merchandise at a convenient location with speedy checkout. 
B)  They are large, self-service retail food stores offering about 30,000 SKUs with high inventory holding costs. 
C)  They are retailers that carry a broad variety and deep assortment, offer customer services, and organize their stores into distinct departments for displaying merchandise. 
D)  They are retailers that offer a limited and irregular assortment of food and general merchandise with little service at low prices. 
E)  They are large stores that combine a supermarket with a full-line discount store. 
A)  They are stores that provide a large variety and assortment of merchandise at a convenient location with speedy checkout. 
B)  They are large, self-service retail food stores offering about 30,000 SKUs with high inventory holding costs. 
C)  They are retailers that carry a broad variety and deep assortment, offer customer services, and organize their stores into distinct departments for displaying merchandise. 
D)  They are retailers that offer a limited and irregular assortment of food and general merchandise with little service at low prices. 
E)  They are large stores that combine a supermarket with a full-line discount store.

Question 5

________ are end-of-season merchandise that will not be in the manufacturer's offerings going forward.

Accepted Answer

A)  Closeouts 
B)  Irregulars 
C)  Endcaps 
D)  Category killers 
E)  Soft goods 
A)  Closeouts 
B)  Irregulars 
C)  Endcaps 
D)  Category killers 
E)  Soft goods

Question 6

Which of the following statements is True of the North American Industry Classification System (NAICS)?

Accepted Answer

A)  It was developed by the Federal Trade Commission (FT
C) . 
B)  It uses an eight-digit classification system. 
C)  It was created to collect data on North America's business activity. 
D)  It is limited in its use to only manufacturing companies. 
E)  It is a classification system developed by the United States. 
A)  It was developed by the Federal Trade Commission (FT
C) . 
B)  It uses an eight-digit classification system. 
C)  It was created to collect data on North America's business activity. 
D)  It is limited in its use to only manufacturing companies. 
E)  It is a classification system developed by the United States.

Question 7

The biggest difference between service retailers and merchandise retailers is their profits.

Accepted Answer

A) True 
 B)False

Question 8

What type of retail store is Victoria's Secret considered to be?

Accepted Answer

A)  Department store 
B)  Convenient store 
C)  Full-line discount store 
D)  Specialty store 
E)  Supermarket 
A)  Department store 
B)  Convenient store 
C)  Full-line discount store 
D)  Specialty store 
E)  Supermarket

Question 9

Limited-assortment supermarkets are referred to as

Accepted Answer

A)  extreme-value food retailers. 
B)  full-line discount stores. 
C)  conventional supermarkets. 
D)  consignment shops. 
E)  warehouse clubs. 
A)  extreme-value food retailers. 
B)  full-line discount stores. 
C)  conventional supermarkets. 
D)  consignment shops. 
E)  warehouse clubs.

Question 10

Describe what category specialist retailers are while providing specific examples of category specialist retailers and how they differentiate themselves from their competitors.

Accepted Answer

Category specialists are big-box stores

Question 11

________ are products that have minor blemishes to the fabric or errors in the construction.

Accepted Answer

A)  Closeouts 
B)  Irregulars 
C)  Category killers 
D)  Soft goods 
E)  Hard goods 
A)  Closeouts 
B)  Irregulars 
C)  Category killers 
D)  Soft goods 
E)  Hard goods

Question 12

Explain what drugstores do to remain competitive in the marketplace.

Accepted Answer

Drugstores face competition from pharmac

Question 13

Whereas corporate chains can tailor their offerings to their customers' needs, single-store retailers can more effectively negotiate lower prices for merchandise and advertising because of their larger size.

Accepted Answer

A) True 
 B)False

Question 14

What type of retailer is Target considered to be?

Accepted Answer

A)  Off-price retailer 
B)  Department store 
C)  Full-line discount store 
D)  Extreme value retailer 
E)  Specialty retailer 
A)  Off-price retailer 
B)  Department store 
C)  Full-line discount store 
D)  Extreme value retailer 
E)  Specialty retailer

Question 15

Extreme-value retailers primarily target low-income consumers.

Accepted Answer

A) True 
 B)False

Question 16

Services are difficult to be evaluated before customers buy or even after they buy and consume them. Which of the following characteristics of service causes this challenge for service retailers?

Accepted Answer

A)  Intangibility 
B)  Perishability 
C)  Inconsistency 
D)  Consumability 
E)  Compatibility 
A)  Intangibility 
B)  Perishability 
C)  Inconsistency 
D)  Consumability 
E)  Compatibility

Question 17

What type of retailer is Kohl's considered to be?

Accepted Answer

A)  Off-price retailer 
B)  Department store 
C)  Full-line discount store 
D)  Extreme value retailer 
E)  Specialty retailer 
A)  Off-price retailer 
B)  Department store 
C)  Full-line discount store 
D)  Extreme value retailer 
E)  Specialty retailer

Question 18

Which of these is not a relevant challenge for big-box stores while developing locations in Europe, Japan, and the United States?

Accepted Answer

A)  Limited and expensive land 
B)  Increased operating costs 
C)  Restricted building size in some counties 
D)  Opposing sentiments from local residents 
E)  Lack of employable workforce 
A)  Limited and expensive land 
B)  Increased operating costs 
C)  Restricted building size in some counties 
D)  Opposing sentiments from local residents 
E)  Lack of employable workforce

Question 19

Which of the following best defines a stock-keeping unit?

Accepted Answer

A)  The number of different items offered in a merchandise category 
B)  End-of-season merchandise that will not be used by a retailer in following seasons 
C)  Merchandise with minor mistakes in construction 
D)  Each different item of merchandise offered by a retailer 
E)  The number of merchandise categories a retailer offers 
A)  The number of different items offered in a merchandise category 
B)  End-of-season merchandise that will not be used by a retailer in following seasons 
C)  Merchandise with minor mistakes in construction 
D)  Each different item of merchandise offered by a retailer 
E)  The number of merchandise categories a retailer offers

Question 20

With respect to retailing, which of the following best defines variety?

Accepted Answer

A)  Merchandise with minor mistakes in construction 
B)  The number of different items offered in a merchandise category 
C)  End-of-season merchandise that will not be used in following seasons 
D)  The number of merchandise categories a retailer offers 
E)  Each different item of merchandise offered by a retailer 
A)  Merchandise with minor mistakes in construction 
B)  The number of different items offered in a merchandise category 
C)  End-of-season merchandise that will not be used in following seasons 
D)  The number of merchandise categories a retailer offers 
E)  Each different item of merchandise offered by a retailer

A retailer that carries a broad variety and deep assortment, offers customer services, and is organized into distinct sections for displaying merchandise is called a(n)

To be competitive in today's marketplace, supermarkets are focusing on offering fresh perishables and providing better value with private-label merchandise.

Differentiate between variety and assortment of merchandise offered by a retailer.

Which of the following statements best defines a warehouse club?

________ are end-of-season merchandise that will not be in the manufacturer's offerings going forward.

Which of the following statements is True of the North American Industry Classification System (NAICS)?

The biggest difference between service retailers and merchandise retailers is their profits.

What type of retail store is Victoria's Secret considered to be?

Limited-assortment supermarkets are referred to as

Describe what category specialist retailers are while providing specific examples of category specialist retailers and how they differentiate themselves from their competitors.

________ are products that have minor blemishes to the fabric or errors in the construction.

Explain what drugstores do to remain competitive in the marketplace.

Whereas corporate chains can tailor their offerings to their customers' needs, single-store retailers can more effectively negotiate lower prices for merchandise and advertising because of their larger size.

What type of retailer is Target considered to be?

Extreme-value retailers primarily target low-income consumers.

Services are difficult to be evaluated before customers buy or even after they buy and consume them. Which of the following characteristics of service causes this challenge for service retailers?

What type of retailer is Kohl's considered to be?

Which of these is not a relevant challenge for big-box stores while developing locations in Europe, Japan, and the United States?

Which of the following best defines a stock-keeping unit?

With respect to retailing, which of the following best defines variety?

Introduction to the World of Retailing

Multichannel and Omnichannel Retailing

Customer Buying Behavior

Retail Market Strategy

Financial Strategy

Retail Locations

Retail Site Location

Information Systems and Supply Chain Management

Customer Relationship Management

Managing the Merchandise Planning Process

Buying Merchandise

Retail Pricing

Retail Communication Mix

Human Resources and Managing the Store

Store Layout, Design, and Visual Merchandising

Customer Service

Filters

Exam 2: Types of Retailers

A retailer that carries a broad variety and deep assortment, offers customer services, and is organized into distinct sections for displaying merchandise is called a(n)

To be competitive in today's marketplace, supermarkets are focusing on offering fresh perishables and providing better value with private-label merchandise.

Differentiate between variety and assortment of merchandise offered by a retailer.

Which of the following statements best defines a warehouse club?

________ are end-of-season merchandise that will not be in the manufacturer's offerings going forward.

Which of the following statements is True of the North American Industry Classification System (NAICS)?

The biggest difference between service retailers and merchandise retailers is their profits.

What type of retail store is Victoria's Secret considered to be?

Limited-assortment supermarkets are referred to as

Describe what category specialist retailers are while providing specific examples of category specialist retailers and how they differentiate themselves from their competitors.

________ are products that have minor blemishes to the fabric or errors in the construction.

Explain what drugstores do to remain competitive in the marketplace.

Whereas corporate chains can tailor their offerings to their customers' needs, single-store retailers can more effectively negotiate lower prices for merchandise and advertising because of their larger size.

What type of retailer is Target considered to be?

Extreme-value retailers primarily target low-income consumers.

Services are difficult to be evaluated before customers buy or even after they buy and consume them. Which of the following characteristics of service causes this challenge for service retailers?

What type of retailer is Kohl's considered to be?

Which of these is not a relevant challenge for big-box stores while developing locations in Europe, Japan, and the United States?

Which of the following best defines a stock-keeping unit?

With respect to retailing, which of the following best defines variety?

Introduction to the World of Retailing

Multichannel and Omnichannel Retailing

Customer Buying Behavior

Retail Market Strategy

Financial Strategy

Retail Locations

Retail Site Location

Information Systems and Supply Chain Management

Customer Relationship Management

Managing the Merchandise Planning Process

Buying Merchandise

Retail Pricing

Retail Communication Mix

Human Resources and Managing the Store

Store Layout, Design, and Visual Merchandising

Customer Service

Filters