Question 1

When is the intensity of competition between retail stores the greatest?

Accepted Answer

When they are involved in intr

Question 2

Why do retailers consider customers as important when developing a retail strategy?

Accepted Answer

Retailers need to understand customers a

Question 3

What is retailing?

Accepted Answer

A)  It is the set of business activities that adds value to the products and services sold to consumers for their personal or family use 
B)  It is the process of offering products in smaller quantities for consumer consumption patterns 
C)  It is the merchandising component of the retail mix 
D)  It is the strategy retailers and vendors use to get products into the stores 
E)  It is the ability to offer enough variety in a store to encourage one-stop shopping 
A)  It is the set of business activities that adds value to the products and services sold to consumers for their personal or family use 
B)  It is the process of offering products in smaller quantities for consumer consumption patterns 
C)  It is the merchandising component of the retail mix 
D)  It is the strategy retailers and vendors use to get products into the stores 
E)  It is the ability to offer enough variety in a store to encourage one-stop shopping

Question 4

Once a retailer understands its environment, it needs to develop and implement a(n):

Accepted Answer

A)  functional strategy 
B)  retail strategy 
C)  advertising plan 
D)  customer base 
E)  competitive strategy 
A)  functional strategy 
B)  retail strategy 
C)  advertising plan 
D)  customer base 
E)  competitive strategy

Question 5

Best Buy purchases many of the CDs, PlayStation 2 games, DVDs and DVD players by the
truckload, then sells them in smaller quantities to its stores where consumers are allowed to buy them one at a time. What business function is Best Buy performing?

Accepted Answer

The answer of Best Buy purchases many of the CDs,...

Question 6

The key strategic elements of the retail strategy are:

Accepted Answer

A)  organizational structures 
B)  location strategies 
C)  market strategies 
D)  financial strategies 
E)  all of these 
A)  organizational structures 
B)  location strategies 
C)  market strategies 
D)  financial strategies 
E)  all of these

Question 7

Which of the following is most likely to be considered a retailer?

Accepted Answer

A)  A university 
B)  The Better Business Bureau 
C)  The Red Cross 
D)  A radio talk show 
E)  All of the choices. 
A)  A university 
B)  The Better Business Bureau 
C)  The Red Cross 
D)  A radio talk show 
E)  All of the choices.

Question 8

Delia was delighted to see that the local Shoppers Drug Mart carried milk, bread, and snacking crackers. Her delight indicates she has never seen:

Accepted Answer

A)  an acceptable merchandising mix 
B)  a retail mix 
C)  this type of intratype competition 
D)  a deep product assortment 
E)  scrambled merchandising 
A)  an acceptable merchandising mix 
B)  a retail mix 
C)  this type of intratype competition 
D)  a deep product assortment 
E)  scrambled merchandising

Question 9

The competition between the same types of retailers is called:

Accepted Answer

A)  intertype competition 
B)  intratype competition 
C)  indirect competition 
D)  vertical integration 
E)  scrambled merchandising 
A)  intertype competition 
B)  intratype competition 
C)  indirect competition 
D)  vertical integration 
E)  scrambled merchandising

Question 10

Lydia owns the Shake Shack, a small ice cream shop on a busy beach boardwalk that
specializes in a variety of milkshakes, malts and cones. She has identified her customer
as a person walking on the boardwalk—mostly vacationers who want something cool and quick with no frills. She located herself close to parking for easy access, unlike some of    her competitors. Lydia seems to have developed a strong:

Accepted Answer

A)  retail strategy 
B)  location strategy 
C)  business plan 
D)  selling strategy 
E)  business concept 
A)  retail strategy 
B)  location strategy 
C)  business plan 
D)  selling strategy 
E)  business concept

Question 11

Retail managers must make complex decisions including all of the following except:

Accepted Answer

A)  Mission statement 
B)  Training and motivating sales associates 
C)  Target markets 
D)  Retail locations 
E)  Merchandise and services offerings 
A)  Mission statement 
B)  Training and motivating sales associates 
C)  Target markets 
D)  Retail locations 
E)  Merchandise and services offerings

Question 12

Which of the following is not a part of the retail mix for a furniture store?

Accepted Answer

A)  Television commercials 
B)  Furniture assortments 
C)  Competitive response 
D)  The location of the store 
E)  Store credit card 
A)  Television commercials 
B)  Furniture assortments 
C)  Competitive response 
D)  The location of the store 
E)  Store credit card

Question 13

The offering of merchandise not typically associated with the store type is called:

Accepted Answer

A)  product diversification 
B)  channel conflict 
C)  vertical differentiation 
D)  intratype competition 
E)  scrambled merchandising 
A)  product diversification 
B)  channel conflict 
C)  vertical differentiation 
D)  intratype competition 
E)  scrambled merchandising

Question 14

Retailers face ethical issues on a regular basis. The following are all TRUE except:

Accepted Answer

A)  Ethics are the principles governing the behaviour of individuals and companies to establish appropriate behaviour and indicate what is right and wrong. 
B)  Some years ago, doctors and lawyers who advertised their services in Canada were considered unethical. 
C)  Offering bribes to overcome bureaucratic roadblocks is globally recognized as an unaccepted practice. 
D)  Offering bribes to overcome bureaucratic roadblocks is illegal in Canada. 
E)  Today, advertising by doctors and lawyers in Canada is considered legal. 
A)  Ethics are the principles governing the behaviour of individuals and companies to establish appropriate behaviour and indicate what is right and wrong. 
B)  Some years ago, doctors and lawyers who advertised their services in Canada were considered unethical. 
C)  Offering bribes to overcome bureaucratic roadblocks is globally recognized as an unaccepted practice. 
D)  Offering bribes to overcome bureaucratic roadblocks is illegal in Canada. 
E)  Today, advertising by doctors and lawyers in Canada is considered legal.

Question 15

Which of the following is part of a retailer's retail mix?

Accepted Answer

A)  Services offered 
B)  Advertising 
C)  Displays 
D)  Trained salespeople 
E)  All of these 
A)  Services offered 
B)  Advertising 
C)  Displays 
D)  Trained salespeople 
E)  All of these

Question 16

List the four functions performed by retailers.

Accepted Answer

The four functions performed b

Question 17

Retailing offers today's graduates opportunities for careers in management as well as entrepreneurial opportunities. The following are all Canadian entrepreneurs and their Canadian originated retail outlets except:

Accepted Answer

A)  Eddie Black - Black's Cameras 
B)  Tim Horton - Tim Hortons 
C)  John Forzani - Forzani Group - Sport Chek 
D)  John Holt and G.R. Renfrew - Holt Renfrew 
E)  Samuel Cost and Sharon Conner - Costco 
A)  Eddie Black - Black's Cameras 
B)  Tim Horton - Tim Hortons 
C)  John Forzani - Forzani Group - Sport Chek 
D)  John Holt and G.R. Renfrew - Holt Renfrew 
E)  Samuel Cost and Sharon Conner - Costco

Question 18

To implement a retail strategy, management must:

Accepted Answer

A)  locate the ideal location 
B)  determine its target market and set retail objectives 
C)  develop a retail mix that satisfies the needs of its target market better than its competitors 
D)  set pricing strategies and determine promotions 
E)  develop budgets and acquire merchandise 
A)  locate the ideal location 
B)  determine its target market and set retail objectives 
C)  develop a retail mix that satisfies the needs of its target market better than its competitors 
D)  set pricing strategies and determine promotions 
E)  develop budgets and acquire merchandise

Question 19

Which of the following would be an example of intertype competition?

Accepted Answer

A)  A department store and a pharmacy 
B)  A convenience store and a fast food restaurant 
C)  A specialty store and a department store 
D)  A supermarket and a fresh flower stand 
E)  All answers provided are correct. 
A)  A department store and a pharmacy 
B)  A convenience store and a fast food restaurant 
C)  A specialty store and a department store 
D)  A supermarket and a fresh flower stand 
E)  All answers provided are correct.

Question 20

Walmart, Loblaws, and Future Shop are in what kind of competition?

Accepted Answer

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

When is the intensity of competition between retail stores the greatest?

Why do retailers consider customers as important when developing a retail strategy?

What is retailing?

Once a retailer understands its environment, it needs to develop and implement a(n):

Best Buy purchases many of the CDs, PlayStation 2 games, DVDs and DVD players by the truckload, then sells them in smaller quantities to its stores where consumers are allowed to buy them one at a time. What business function is Best Buy performing?

The key strategic elements of the retail strategy are:

Which of the following is most likely to be considered a retailer?

Delia was delighted to see that the local Shoppers Drug Mart carried milk, bread, and snacking crackers. Her delight indicates she has never seen:

The competition between the same types of retailers is called:

Retail managers must make complex decisions including all of the following except:

Which of the following is not a part of the retail mix for a furniture store?

The offering of merchandise not typically associated with the store type is called:

Retailers face ethical issues on a regular basis. The following are all TRUE except:

Which of the following is part of a retailer's retail mix?

List the four functions performed by retailers.

Retailing offers today's graduates opportunities for careers in management as well as entrepreneurial opportunities. The following are all Canadian entrepreneurs and their Canadian originated retail outlets except:

To implement a retail strategy, management must:

Which of the following would be an example of intertype competition?

Walmart, Loblaws, and Future Shop are in what kind of 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

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Exam 1: Introduction to the World of Retailing

When is the intensity of competition between retail stores the greatest?

Why do retailers consider customers as important when developing a retail strategy?

What is retailing?

Once a retailer understands its environment, it needs to develop and implement a(n):

Best Buy purchases many of the CDs, PlayStation 2 games, DVDs and DVD players by the truckload, then sells them in smaller quantities to its stores where consumers are allowed to buy them one at a time. What business function is Best Buy performing?

The key strategic elements of the retail strategy are:

Which of the following is most likely to be considered a retailer?

Delia was delighted to see that the local Shoppers Drug Mart carried milk, bread, and snacking crackers. Her delight indicates she has never seen:

The competition between the same types of retailers is called:

Retail managers must make complex decisions including all of the following except:

Which of the following is not a part of the retail mix for a furniture store?

The offering of merchandise not typically associated with the store type is called:

Retailers face ethical issues on a regular basis. The following are all TRUE except:

Which of the following is part of a retailer's retail mix?

List the four functions performed by retailers.

Retailing offers today's graduates opportunities for careers in management as well as entrepreneurial opportunities. The following are all Canadian entrepreneurs and their Canadian originated retail outlets except:

To implement a retail strategy, management must:

Which of the following would be an example of intertype competition?

Walmart, Loblaws, and Future Shop are in what kind of 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