Question 1

Which of the following would be an example of intratype competitors?

Accepted Answer

A)  Sears and La Senza 
B)  Loblaws and Amazon.ca 
C)  IGA and Shoppers Drug Mart 
D)  Walmart and Target 
E)  Future Shop and eBay 
A)  Sears and La Senza 
B)  Loblaws and Amazon.ca 
C)  IGA and Shoppers Drug Mart 
D)  Walmart and Target 
E)  Future Shop and eBay D

Question 2

Grocers purchase bananas from several different tropical countries. When bananas arrive in the distribution centres across Canada, containers are reduced to amounts that are appropriate for store delivery. Once delivered to the stores, associates open the cartons and arrange the bananas for the consumer to select. Grocers are performing what
Function?

Accepted Answer

A)  Breaking bulk 
B)  Distribution 
C)  Vertical integration 
D)  Providing services 
E)  Holding inventory 
A)  Breaking bulk 
B)  Distribution 
C)  Vertical integration 
D)  Providing services 
E)  Holding inventory A

Question 3

What is Variety?

Accepted Answer

A)  Variety is the number of different facets of the business plan 
B)  Variety is the number of different SKU's within a merchandise category 
C)  Variety is the number of different merchandise categories within a store 
D)  Variety is the number of different items in a category 
E)  Variety is another term for scrambled merchandising 
A)  Variety is the number of different facets of the business plan 
B)  Variety is the number of different SKU's within a merchandise category 
C)  Variety is the number of different merchandise categories within a store 
D)  Variety is the number of different items in a category 
E)  Variety is another term for scrambled merchandising C

Question 4

Why would a drug store add novelty gifts, fresh bread, pre-wrapped sandwiches and milk to its product mix?

Accepted Answer

The drug store is engaging in

Question 5

How are retailers using point-of-sale (POS) terminals and Universal Product Codes (UPCs) affixed to merchandise? As a way to:

Accepted Answer

A)  create an advertising plan 
B)  check its location strategy 
C)  gain a strategic advantage 
D)  target the distribution plan 
E)  set its retailing objectives 
A)  create an advertising plan 
B)  check its location strategy 
C)  gain a strategic advantage 
D)  target the distribution plan 
E)  set its retailing objectives

Question 6

Increasing intertype competition has made it harder for retailers to identify their:

Accepted Answer

A)  competition 
B)  merchandise mix 
C)  retail mix 
D)  target market 
E)  none of the answers provided are correct. 
A)  competition 
B)  merchandise mix 
C)  retail mix 
D)  target market 
E)  none of the answers provided are correct.

Question 7

The largest sectors in terms of retail sales are:

Accepted Answer

A)  Food, Beverage, and Automotive 
B)  Automotive and Building supplies 
C)  Pharmacies and Building supplies 
D)  Furniture and Pharmacies 
E)  General merchandise and Clothing 
A)  Food, Beverage, and Automotive 
B)  Automotive and Building supplies 
C)  Pharmacies and Building supplies 
D)  Furniture and Pharmacies 
E)  General merchandise and Clothing

Question 8

To implement a retail strategy, a retailer must develop a_______ that satisfies the needs of its target market better than its competitors.

Accepted Answer

A)  retail mix 
B)  situation analysis 
C)  horizontal integration 
D)  sales orientation 
E)  production orientation 
A)  retail mix 
B)  situation analysis 
C)  horizontal integration 
D)  sales orientation 
E)  production orientation

Question 9

Which of the following statements about location strategy is true?

Accepted Answer

A)  Location is the second most important characteristic that consumers examine when selecting a store 
B)  Consumers do not use convenience as a basis for selecting where to shop 
C)  Location can never be used to gain any kind of long-term advantage over competitors due to retailing's low entry barriers 
D)  Location offers an opportunity to gain a long-term advantage over competitors 
E)  The only two characteristics more important than location in the selection process of where to shop are price and sales promotions 
A)  Location is the second most important characteristic that consumers examine when selecting a store 
B)  Consumers do not use convenience as a basis for selecting where to shop 
C)  Location can never be used to gain any kind of long-term advantage over competitors due to retailing's low entry barriers 
D)  Location offers an opportunity to gain a long-term advantage over competitors 
E)  The only two characteristics more important than location in the selection process of where to shop are price and sales promotions

Question 10

Best Buy (electronics) and Future Shop (electronics) are what type of competitors?

Accepted Answer

A)  indirect 
B)  intratype 
C)  horizontal 
D)  vertical 
E)  intertype 
A)  indirect 
B)  intratype 
C)  horizontal 
D)  vertical 
E)  intertype

Question 11

Prior Snowboards located in Whistler, B.C. manufactures many of the snowboards it sells in its retail outlet at its own factory in Canada. Prior Snowboards is practicing:

Accepted Answer

A)  demographic marketing 
B)  wholesaling 
C)  product-related marketing 
D)  vertical integration 
E)  globalization 
A)  demographic marketing 
B)  wholesaling 
C)  product-related marketing 
D)  vertical integration 
E)  globalization

Question 12

With manufacturers legally able to sell direct from the factories, why should retailers exist?

Accepted Answer

In the retailing distribution channel, t

Question 13

How do retailers increase the value consumers receive from their purchases?

Accepted Answer

Retailers increase the value c

Question 14

The Reptile Shop is a pet shop that focuses on reptiles and their accoutrements for reptile lovers. The shop carries aquariums, warming rocks, toys and even live mice and crickets. It sponsors a reptile club where members can bring their pet to share with other reptile lovers. The store provides an inexpensive veterinary service. It even has a 3-month guarantee when you purchase a baby
reptile. The Reptile Shop has created loyalty from its customers and continuously attracts new ones because of the services offered. What does this describe?

Accepted Answer

The store's retailing strategy

Question 15

A business philosophy and set of strategies, programs, and systems that focus on identifying and building loyalty with a firm's most-valued customers is called:

Accepted Answer

A)  customer decision area 
B)  customer relationship management 
C)  customer loyalty 
D)  strategizing 
E)  intratype competition 
A)  customer decision area 
B)  customer relationship management 
C)  customer loyalty 
D)  strategizing 
E)  intratype competition

Question 16

When McDonald's opened its first restaurant, a hungry patron could order a hamburger, French fries and a shake. In those early years, McDonald's did not offer much:

Accepted Answer

A)  product depth 
B)  assortment 
C)  quantity 
D)  variety 
E)  value 
A)  product depth 
B)  assortment 
C)  quantity 
D)  variety 
E)  value

Question 17

The intensity of competition is greatest among retailers when:

Accepted Answer

A)  they are located far from each other and target the same customer 
B)  they are located near each other and target the same customer 
C)  they are located far from each other and offer similar retail offerings 
D)  they are located near each other and offer similar retail offerings 
E)  price dominates the retail mix 
A)  they are located far from each other and target the same customer 
B)  they are located near each other and target the same customer 
C)  they are located far from each other and offer similar retail offerings 
D)  they are located near each other and offer similar retail offerings 
E)  price dominates the retail mix

Question 18

When developing the_______ for his new salon, George decided to obtain a long-term competitive advantage over other salons by offering longer hours, better prices, a well trained staff and half-price perm day every Thursday to attract customers.

Accepted Answer

A)  retail strategy 
B)  business cycle 
C)  marketing concept 
D)  focal point orientation 
E)  selling concept 
A)  retail strategy 
B)  business cycle 
C)  marketing concept 
D)  focal point orientation 
E)  selling concept

Question 19

Which of the following would be an intratype competitor for an IGA supermarket?

Accepted Answer

A)  Loblaws 
B)  Shoppers Drug Mart 
C)  Subway 
D)  Old Navy 
E)  Walmart 
A)  Loblaws 
B)  Shoppers Drug Mart 
C)  Subway 
D)  Old Navy 
E)  Walmart

Question 20

A chef wants to open a Chinese restaurant in the suburbs of a large city. How should she identify the competition?

Accepted Answer

This question can have a variety of resp

Which of the following would be an example of intratype competitors?

What is Variety?

Why would a drug store add novelty gifts, fresh bread, pre-wrapped sandwiches and milk to its product mix?

How are retailers using point-of-sale (POS) terminals and Universal Product Codes (UPCs) affixed to merchandise? As a way to:

Increasing intertype competition has made it harder for retailers to identify their:

The largest sectors in terms of retail sales are:

To implement a retail strategy, a retailer must develop a_______ that satisfies the needs of its target market better than its competitors.

Which of the following statements about location strategy is true?

Best Buy (electronics) and Future Shop (electronics) are what type of competitors?

Prior Snowboards located in Whistler, B.C. manufactures many of the snowboards it sells in its retail outlet at its own factory in Canada. Prior Snowboards is practicing:

With manufacturers legally able to sell direct from the factories, why should retailers exist?

How do retailers increase the value consumers receive from their purchases?

A business philosophy and set of strategies, programs, and systems that focus on identifying and building loyalty with a firm's most-valued customers is called:

When McDonald's opened its first restaurant, a hungry patron could order a hamburger, French fries and a shake. In those early years, McDonald's did not offer much:

The intensity of competition is greatest among retailers when:

When developing the_______ for his new salon, George decided to obtain a long-term competitive advantage over other salons by offering longer hours, better prices, a well trained staff and half-price perm day every Thursday to attract customers.

Which of the following would be an intratype competitor for an IGA supermarket?

A chef wants to open a Chinese restaurant in the suburbs of a large city. How should she identify the competition?

Types of Retailers

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 1: Introduction to the World of Retailing

Which of the following would be an example of intratype competitors?

What is Variety?

Why would a drug store add novelty gifts, fresh bread, pre-wrapped sandwiches and milk to its product mix?

How are retailers using point-of-sale (POS) terminals and Universal Product Codes (UPCs) affixed to merchandise? As a way to:

Increasing intertype competition has made it harder for retailers to identify their:

The largest sectors in terms of retail sales are:

To implement a retail strategy, a retailer must develop a_______ that satisfies the needs of its target market better than its competitors.

Which of the following statements about location strategy is true?

Best Buy (electronics) and Future Shop (electronics) are what type of competitors?

Prior Snowboards located in Whistler, B.C. manufactures many of the snowboards it sells in its retail outlet at its own factory in Canada. Prior Snowboards is practicing:

With manufacturers legally able to sell direct from the factories, why should retailers exist?

How do retailers increase the value consumers receive from their purchases?

A business philosophy and set of strategies, programs, and systems that focus on identifying and building loyalty with a firm's most-valued customers is called:

When McDonald's opened its first restaurant, a hungry patron could order a hamburger, French fries and a shake. In those early years, McDonald's did not offer much:

The intensity of competition is greatest among retailers when:

When developing the_______ for his new salon, George decided to obtain a long-term competitive advantage over other salons by offering longer hours, better prices, a well trained staff and half-price perm day every Thursday to attract customers.

Which of the following would be an intratype competitor for an IGA supermarket?

A chef wants to open a Chinese restaurant in the suburbs of a large city. How should she identify the competition?

Types of Retailers

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