Question 1

In double-loop learning,the retailer asks itself if the _____ and_____ on which it is focused are the appropriate or "right" ____ and _____.

Accepted Answer

A)  co-creations, co- productions. 
B)  gross margins, net margins. 
C)  profits, losses. 
D)  goals, measures. 
E)  investments, assets. 
A)  co-creations, co- productions. 
B)  gross margins, net margins. 
C)  profits, losses. 
D)  goals, measures. 
E)  investments, assets.

Question 2

Where and how a customer takes physical possession of the merchandise is known as:

Accepted Answer

A)  place reconfiguration. 
B)  time reconfiguration. 
C)  target market reconfiguration. 
D)  form reconfiguration. 
E)  possession reconfiguration. 
A)  place reconfiguration. 
B)  time reconfiguration. 
C)  target market reconfiguration. 
D)  form reconfiguration. 
E)  possession reconfiguration.

Question 3

____ is when a retailer reframes its business in terms of the time it performs certain activities and offers service.

Accepted Answer

A)  Form reconfiguration 
B)  Place reconfiguration 
C)  Possession reconfiguration 
D)  Target marketing reconfiguration 
E)  Time reconfiguration 
A)  Form reconfiguration 
B)  Place reconfiguration 
C)  Possession reconfiguration 
D)  Target marketing reconfiguration 
E)  Time reconfiguration

Question 4

Throughout most of human civilization there has been a large scarcity of manufactured or processed goods.

Accepted Answer

A) True 
 B)False

Question 5

The two primary determinants of return on assets that are utilized in single-loop learning are:

Accepted Answer

A)  inventory productivity and labor productivity. 
B)  target market and customer satisfaction. 
C)  actual results and planned results. 
D)  co-creation and co-production. 
E)  net profit margin and asset turnover. 
A)  inventory productivity and labor productivity. 
B)  target market and customer satisfaction. 
C)  actual results and planned results. 
D)  co-creation and co-production. 
E)  net profit margin and asset turnover.

Question 6

The increase in square footage in a retailers store from 20,000 square feet to 40,000 square feet is an example of:

Accepted Answer

A)  form reconfiguration 
B)  time reconfiguration 
C)  possession reconfiguration 
D)  place reconfiguration 
E)  expansion 
A)  form reconfiguration 
B)  time reconfiguration 
C)  possession reconfiguration 
D)  place reconfiguration 
E)  expansion

Question 7

An interaction can be hard surfaced if it is a intangible interface or soft surfaced if it is an tangible interface.

Accepted Answer

A) True 
 B)False

Question 8

Discuss and cite examples of what resources need to be reconfigured in order for a retailer to reframe its business.

Accepted Answer

In order to reframe a retailers' busines

Question 9

Employees are the retailer's most valuable asset.

Accepted Answer

A) True 
 B)False

Question 10

The value of intangibles is measured by what is referred to as the price to book ratio.

Accepted Answer

A) True 
 B)False

Question 11

During the "marketing with" era of retail marketing,long term relationships became a central premise of retail planning.

Accepted Answer

A) True 
 B)False

Question 12

All of the following discount mass merchandiser stores were founded in 1962,EXCEPT:

Accepted Answer

A)  Walmart. 
B)  FedMart. 
C)  Kmart. 
D)  Woolco. 
E)  Target. 
A)  Walmart. 
B)  FedMart. 
C)  Kmart. 
D)  Woolco. 
E)  Target.

Question 13

In order to achieve retail success,which of the following should be your primary focus?

Accepted Answer

A)  Pricing. 
B)  Promotion. 
C)  Buying. 
D)  Customers. 
E)  Distribution. 
A)  Pricing. 
B)  Promotion. 
C)  Buying. 
D)  Customers. 
E)  Distribution.

Question 14

In traditional logic,services are viewed as homogeneous,since each customer is receiving something different from the service provider.

Accepted Answer

A) True 
 B)False

Question 15

Retailers that recognize that customers are incorporating what they sell into the value co-creation process are able to use this knowledge in their communication.

Accepted Answer

A) True 
 B)False

Question 16

One reason employees need to be engaged with the retail enterprise is because customers will notice the behavior and attitudes of the employees.

Accepted Answer

A) True 
 B)False

Question 17

One of the main differences between the traditional view of advertising and consumer-centric view of advertising is that:

Accepted Answer

A)  consumer-centric advertising is designed primarily to sell its merchandise. 
B)  traditional orientation views advertising as a service. 
C)  consumer-centric retailers are moving towards a one way advertising service. 
D)  consumer-centric orientation views advertising as a service. 
E)  traditional orientation views advertising as part of the process of building relationships. 
A)  consumer-centric advertising is designed primarily to sell its merchandise. 
B)  traditional orientation views advertising as a service. 
C)  consumer-centric retailers are moving towards a one way advertising service. 
D)  consumer-centric orientation views advertising as a service. 
E)  traditional orientation views advertising as part of the process of building relationships.

Question 18

All of the following are examples of financial goals EXCEPT:

Accepted Answer

A)  sales growth. 
B)  sales ability. 
C)  gross margins. 
D)  labor productivity. 
E)  space productivity. 
A)  sales growth. 
B)  sales ability. 
C)  gross margins. 
D)  labor productivity. 
E)  space productivity.

Question 19

It is important to know the history of retailing because it:

Accepted Answer

A)  teaches you the basics of retailing. 
B)  gives you past retailing ideas that you can use today. 
C)  helps you to understand current retailing theory. 
D)  will help you understand where retailing is headed in the future. 
E)  helps you learn from competitors. 
A)  teaches you the basics of retailing. 
B)  gives you past retailing ideas that you can use today. 
C)  helps you to understand current retailing theory. 
D)  will help you understand where retailing is headed in the future. 
E)  helps you learn from competitors.

Question 20

A change in any element of a retailer's physical structure including check out counters,merchandise fixtures or size of the store is known as:

Accepted Answer

A)  possession reconfiguration. 
B)  time reconfiguration. 
C)  form reconfiguration. 
D)  target market reconfiguration. 
E)  place reconfiguration. 
A)  possession reconfiguration. 
B)  time reconfiguration. 
C)  form reconfiguration. 
D)  target market reconfiguration. 
E)  place reconfiguration.

In double-loop learning,the retailer asks itself if the ___ and_ on which it is focused are the appropriate or "right" and ___.

Where and how a customer takes physical possession of the merchandise is known as:

____ is when a retailer reframes its business in terms of the time it performs certain activities and offers service.

Throughout most of human civilization there has been a large scarcity of manufactured or processed goods.

The two primary determinants of return on assets that are utilized in single-loop learning are:

The increase in square footage in a retailers store from 20,000 square feet to 40,000 square feet is an example of:

An interaction can be hard surfaced if it is a intangible interface or soft surfaced if it is an tangible interface.

Discuss and cite examples of what resources need to be reconfigured in order for a retailer to reframe its business.

Employees are the retailer's most valuable asset.

The value of intangibles is measured by what is referred to as the price to book ratio.

During the "marketing with" era of retail marketing,long term relationships became a central premise of retail planning.

All of the following discount mass merchandiser stores were founded in 1962,EXCEPT:

In order to achieve retail success,which of the following should be your primary focus?

In traditional logic,services are viewed as homogeneous,since each customer is receiving something different from the service provider.

Retailers that recognize that customers are incorporating what they sell into the value co-creation process are able to use this knowledge in their communication.

One reason employees need to be engaged with the retail enterprise is because customers will notice the behavior and attitudes of the employees.

One of the main differences between the traditional view of advertising and consumer-centric view of advertising is that:

All of the following are examples of financial goals EXCEPT:

It is important to know the history of retailing because it:

A change in any element of a retailer's physical structure including check out counters,merchandise fixtures or size of the store is known as:

Perspectives on Retailing

Retail Strategic Planning and Operations Management

Retail Customers

Evaluating the Competition in Retailing

Managing the Supply Chain

Legal and Ethical Behavior

Market Selection and Retail Location Analysis

Managing a Retailer’s Finances

Merchandise Buying and Handling

Merchandise Pricing

Advertising and Promotion

Customer Service and Retail Selling

Store Layout and Design

Filters

Exam 14: Managing People

In double-loop learning,the retailer asks itself if the _____ and_____ on which it is focused are the appropriate or "right" ____ and _____.

Where and how a customer takes physical possession of the merchandise is known as:

____ is when a retailer reframes its business in terms of the time it performs certain activities and offers service.

Throughout most of human civilization there has been a large scarcity of manufactured or processed goods.

The two primary determinants of return on assets that are utilized in single-loop learning are:

The increase in square footage in a retailers store from 20,000 square feet to 40,000 square feet is an example of:

An interaction can be hard surfaced if it is a intangible interface or soft surfaced if it is an tangible interface.

Discuss and cite examples of what resources need to be reconfigured in order for a retailer to reframe its business.

Employees are the retailer's most valuable asset.

The value of intangibles is measured by what is referred to as the price to book ratio.

During the "marketing with" era of retail marketing,long term relationships became a central premise of retail planning.

All of the following discount mass merchandiser stores were founded in 1962,EXCEPT:

In order to achieve retail success,which of the following should be your primary focus?

In traditional logic,services are viewed as homogeneous,since each customer is receiving something different from the service provider.

Retailers that recognize that customers are incorporating what they sell into the value co-creation process are able to use this knowledge in their communication.

One reason employees need to be engaged with the retail enterprise is because customers will notice the behavior and attitudes of the employees.

One of the main differences between the traditional view of advertising and consumer-centric view of advertising is that:

All of the following are examples of financial goals EXCEPT:

It is important to know the history of retailing because it:

A change in any element of a retailer's physical structure including check out counters,merchandise fixtures or size of the store is known as:

Perspectives on Retailing

Retail Strategic Planning and Operations Management

Retail Customers

Evaluating the Competition in Retailing

Managing the Supply Chain

Legal and Ethical Behavior

Market Selection and Retail Location Analysis

Managing a Retailer’s Finances

Merchandise Buying and Handling

Merchandise Pricing

Advertising and Promotion

Customer Service and Retail Selling

Store Layout and Design

Filters

In double-loop learning,the retailer asks itself if the ___ and_ on which it is focused are the appropriate or "right" and ___.