Question 1

A retailer that offers a limited assortment of food and general merchandise with little service at low prices to ultimate consumers (members) and small businesses

Accepted Answer

A)  Supercentres 
B)  hypermarkets 
C)  Warehouse Club 
D)  limited-assortment supermarket 
E)  conventional supermarket 
A)  Supercentres 
B)  hypermarkets 
C)  Warehouse Club 
D)  limited-assortment supermarket 
E)  conventional supermarket

Question 2

My Favourite Quilt Shop carries quilting thread of every brand, colour and strength in cotton and poly-cotton blends. With reference to quilting threads, My Favourite Quilt Shop has:

Accepted Answer

A)  broad variety 
B)  good customer base 
C)  little shrinkage 
D)  deep assortment 
E)  few SKU's 
A)  broad variety 
B)  good customer base 
C)  little shrinkage 
D)  deep assortment 
E)  few SKU's

Question 3

A multichannel retailer is one that:

Accepted Answer

A)  buys merchandise from multiple channels to sell in the stores 
B)  sells merchandise or services through more than one channel 
C)  is a combination of single-channel retailers 
D)  works with other retailers who are in the channel 
E)  channels all assortments through the stores 
A)  buys merchandise from multiple channels to sell in the stores 
B)  sells merchandise or services through more than one channel 
C)  is a combination of single-channel retailers 
D)  works with other retailers who are in the channel 
E)  channels all assortments through the stores

Question 4

Explain why category specialists call themselves "category killers"?

Accepted Answer

By offering a complete assortm

Question 5

In a franchise contract, the franchisee pays the franchisor a:

Accepted Answer

A)  commission on all sales 
B)  start-up costs plus a monthly predetermined cash amount 
C)  salary plus a variety of employee benefits 
D)  lump sum plus a royalty on all sales 
E)  bonus if the sales quota is achieved 
A)  commission on all sales 
B)  start-up costs plus a monthly predetermined cash amount 
C)  salary plus a variety of employee benefits 
D)  lump sum plus a royalty on all sales 
E)  bonus if the sales quota is achieved

Question 6

Because the only merchandise category at the Futon Shop is double-sized futons, the Futon Shop can be said to have no:

Accepted Answer

A)  inventory control 
B)  shrinkage 
C)  variety 
D)  need for customer service 
E)  product depth 
A)  inventory control 
B)  shrinkage 
C)  variety 
D)  need for customer service 
E)  product depth

Question 7

NAICS:

Accepted Answer

A)  Is an on-package series of thick and thin lines readable by check-out scanners 
B)  Is a number used to identify an item in a company's inventory 
C)  Is a classification scheme used by retailers in Canada to monitor after-tax profits 
D)  Is a classification scheme where every North American business is assigned a 6-digit code 
E)  None of these 
A)  Is an on-package series of thick and thin lines readable by check-out scanners 
B)  Is a number used to identify an item in a company's inventory 
C)  Is a classification scheme used by retailers in Canada to monitor after-tax profits 
D)  Is a classification scheme where every North American business is assigned a 6-digit code 
E)  None of these

Question 8

Target and Walmart are examples of:

Accepted Answer

A)  department stores 
B)  specialty stores 
C)  variety stores 
D)  discount stores 
E)  convenience stores 
A)  department stores 
B)  specialty stores 
C)  variety stores 
D)  discount stores 
E)  convenience stores

Question 9

What are some benefits that consumers may experience that shop in traditional stores compared to other formats like catalogues or the Internet?

Accepted Answer

Browsing; touching and feeling

Question 10

Which of the following retailers is the best example of a multichannel retailer?

Accepted Answer

A)  eBay 
B)  The Keg restaurant 
C)  Sears 
D)  Susan and Michael's Hair Salon 
E)  7-Eleven convenience stores 
A)  eBay 
B)  The Keg restaurant 
C)  Sears 
D)  Susan and Michael's Hair Salon 
E)  7-Eleven convenience stores

Question 11

Al is the office manager for a large travel agency. He is responsible for maintaining the office supplies and works within a budget. This month, he needs to restock the agency's #10 envelopes, ball-point pens, coffee, sweetener and plastic spoons. Where's the best place for him to shop?

Accepted Answer

A)  Loblaws 
B)  Office Depot 
C)  Costco 
D)  7-Eleven 
E)  Both B and C 
A)  Loblaws 
B)  Office Depot 
C)  Costco 
D)  7-Eleven 
E)  Both B and C

Question 12

Which of the following statements about discount stores is true?

Accepted Answer

A)  They have greater depth of merchandise than department stores. 
B)  They do not carry private-label merchandise. 
C)  They tend to offer a broad variety of merchandise. 
D)  They typically carry more brands and sizes in each category than department stores. 
E)  All answers provided are true. 
A)  They have greater depth of merchandise than department stores. 
B)  They do not carry private-label merchandise. 
C)  They tend to offer a broad variety of merchandise. 
D)  They typically carry more brands and sizes in each category than department stores. 
E)  All answers provided are true.

Question 13

Department stores are diverse and can be categorized into 3 tiers. Describe each tier and give an example of a retailer (for each tier).

Accepted Answer

The first tier includes upscale, high-fa

Question 14

Choose the element of the retail mix that best applies to the following: The United States, Canada, and Mexico have developed a classification scheme, called th American Industry Classification System (NAICS), to collect data on business activity in each country.

Accepted Answer

A)  Type of merchandise/services offered 
B)  Price of merchandise 
C)  Breadth and depth of merchandise offered 
D)  Level of customer service 
E)  None of these apply 
A)  Type of merchandise/services offered 
B)  Price of merchandise 
C)  Breadth and depth of merchandise offered 
D)  Level of customer service 
E)  None of these apply

Question 15

Which of the following describes an advantage that independent, single-store establishments have over other forms of ownership?

Accepted Answer

A)  Economies of scale 
B)  Distribution efficiency 
C)  Bureaucratic operation 
D)  Ability to respond almost immediately to market changes 
E)  Very low set-up costs 
A)  Economies of scale 
B)  Distribution efficiency 
C)  Bureaucratic operation 
D)  Ability to respond almost immediately to market changes 
E)  Very low set-up costs

Question 16

The Home Depot offers customers a huge selection of home improvement merchandise. As a result inventory investment:

Accepted Answer

A)  increases because of the increase in demand in the home improvement industry 
B)  increases because of the value of the assortment 
C)  decreases because of the increase of the customer base 
D)  increases because they have to carry backup stock for each SKU 
E)  decreases because of the introduction of backup stock 
A)  increases because of the increase in demand in the home improvement industry 
B)  increases because of the value of the assortment 
C)  decreases because of the increase of the customer base 
D)  increases because they have to carry backup stock for each SKU 
E)  decreases because of the introduction of backup stock

Question 17

Choose the term that best fits the following: Consumers can make informed decisions with the increased access to product informatio comparisons, and user reviews, and then widely share their experiences with others.

Accepted Answer

A)  Empowered, discriminating consumers 
B)  Ubiquitous connectivity 
C)  Buying local, going green 
D)  New age of marketing 
E)  Growing retailer power 
A)  Empowered, discriminating consumers 
B)  Ubiquitous connectivity 
C)  Buying local, going green 
D)  New age of marketing 
E)  Growing retailer power

Question 18

Where are most direct sales made?

Accepted Answer

A)  On the job site 
B)  At street festivals and craft shows 
C)  Over the phone 
D)  Via a computer connection 
E)  Face-to-face, in a home 
A)  On the job site 
B)  At street festivals and craft shows 
C)  Over the phone 
D)  Via a computer connection 
E)  Face-to-face, in a home

Question 19

A company operating multiple retail units under common ownership and usually has centralized decision making for defining and implementing its strategy is called a:

Accepted Answer

A)  franchise 
B)  single-store establishment 
C)  retail chain 
D)  wholesale-sponsored voluntary cooperative group 
E)  full-line discount stores 
A)  franchise 
B)  single-store establishment 
C)  retail chain 
D)  wholesale-sponsored voluntary cooperative group 
E)  full-line discount stores

Question 20

Choose the term that best fits the following: It has never been more critical for retailers to integrate digital opportunities into the shopp experience, with the Internet available at work, at home, and on the go (mobile). Digital a physical experiences are converging, with shoppers expecting interactive, value-added experiences anytime, anywhere, and through any channel.

Accepted Answer

A)  Ubiquitous connectivity 
B)  Growing retailer power 
C)  New age of marketing 
D)  Buying local, going green 
E)  Empowered, discriminating consumers 
A)  Ubiquitous connectivity 
B)  Growing retailer power 
C)  New age of marketing 
D)  Buying local, going green 
E)  Empowered, discriminating consumers

A retailer that offers a limited assortment of food and general merchandise with little service at low prices to ultimate consumers (members) and small businesses

My Favourite Quilt Shop carries quilting thread of every brand, colour and strength in cotton and poly-cotton blends. With reference to quilting threads, My Favourite Quilt Shop has:

A multichannel retailer is one that:

Explain why category specialists call themselves "category killers"?

In a franchise contract, the franchisee pays the franchisor a:

Because the only merchandise category at the Futon Shop is double-sized futons, the Futon Shop can be said to have no:

NAICS:

Target and Walmart are examples of:

What are some benefits that consumers may experience that shop in traditional stores compared to other formats like catalogues or the Internet?

Which of the following retailers is the best example of a multichannel retailer?

Al is the office manager for a large travel agency. He is responsible for maintaining the office supplies and works within a budget. This month, he needs to restock the agency's #10 envelopes, ball-point pens, coffee, sweetener and plastic spoons. Where's the best place for him to shop?

Which of the following statements about discount stores is true?

Department stores are diverse and can be categorized into 3 tiers. Describe each tier and give an example of a retailer (for each tier).

Choose the element of the retail mix that best applies to the following: The United States, Canada, and Mexico have developed a classification scheme, called th American Industry Classification System (NAICS), to collect data on business activity in each country.

Which of the following describes an advantage that independent, single-store establishments have over other forms of ownership?

The Home Depot offers customers a huge selection of home improvement merchandise. As a result inventory investment:

Choose the term that best fits the following: Consumers can make informed decisions with the increased access to product informatio comparisons, and user reviews, and then widely share their experiences with others.

Where are most direct sales made?

A company operating multiple retail units under common ownership and usually has centralized decision making for defining and implementing its strategy is called a:

Introduction to the World of Retailing

Customer Buying Behaviou

Retail Market Strategy

Retail Locations Strategytrade Area Decisions and Site Assessment

Store Design, Layout, and Visual Merchandising Strategy

International Retailing Strategy

Financial Strategy

Information Systems and Supply Chain Management

Merchandise Management

Buying Strategies

Retail Pricing

Human Resource Management and Staff Training Issues

Building Customer Loyalty: Customer Relationship Management and Service Strategies

Appealing to the Customer: Retail Communication Mix

Filters

Exam 2: Types of Retailers

A retailer that offers a limited assortment of food and general merchandise with little service at low prices to ultimate consumers (members) and small businesses

My Favourite Quilt Shop carries quilting thread of every brand, colour and strength in cotton and poly-cotton blends. With reference to quilting threads, My Favourite Quilt Shop has:

A multichannel retailer is one that:

Explain why category specialists call themselves "category killers"?

In a franchise contract, the franchisee pays the franchisor a:

Because the only merchandise category at the Futon Shop is double-sized futons, the Futon Shop can be said to have no:

NAICS:

Target and Walmart are examples of:

What are some benefits that consumers may experience that shop in traditional stores compared to other formats like catalogues or the Internet?

Which of the following retailers is the best example of a multichannel retailer?

Al is the office manager for a large travel agency. He is responsible for maintaining the office supplies and works within a budget. This month, he needs to restock the agency's #10 envelopes, ball-point pens, coffee, sweetener and plastic spoons. Where's the best place for him to shop?

Which of the following statements about discount stores is true?

Department stores are diverse and can be categorized into 3 tiers. Describe each tier and give an example of a retailer (for each tier).

Choose the element of the retail mix that best applies to the following: The United States, Canada, and Mexico have developed a classification scheme, called th American Industry Classification System (NAICS), to collect data on business activity in each country.

Which of the following describes an advantage that independent, single-store establishments have over other forms of ownership?

The Home Depot offers customers a huge selection of home improvement merchandise. As a result inventory investment:

Choose the term that best fits the following: Consumers can make informed decisions with the increased access to product informatio comparisons, and user reviews, and then widely share their experiences with others.

Where are most direct sales made?

A company operating multiple retail units under common ownership and usually has centralized decision making for defining and implementing its strategy is called a:

Introduction to the World of Retailing

Customer Buying Behaviou

Retail Market Strategy

Retail Locations Strategytrade Area Decisions and Site Assessment

Store Design, Layout, and Visual Merchandising Strategy

International Retailing Strategy

Financial Strategy

Information Systems and Supply Chain Management

Merchandise Management

Buying Strategies

Retail Pricing

Human Resource Management and Staff Training Issues

Building Customer Loyalty: Customer Relationship Management and Service Strategies

Appealing to the Customer: Retail Communication Mix

Filters