Question 1

Which retail strategy focuses on existing customers?

Accepted Answer

A)  the retail concept 
B)  the functional approach to retailing 
C)  relationship retailing 
D)  transactional retailing 
A)  the retail concept 
B)  the functional approach to retailing 
C)  relationship retailing 
D)  transactional retailing

Question 2

A major disadvantage of the retailing concept as applied to the development of a retail strategy is that it does not focus on ________.

Accepted Answer

A)  the development of a coordinated strategy 
B)  a firm's competitive advantages 
C)  specific objectives such as market share or return on sales 
D)  the satisfaction of a firm's target market 
A)  the development of a coordinated strategy 
B)  a firm's competitive advantages 
C)  specific objectives such as market share or return on sales 
D)  the satisfaction of a firm's target market

Question 3

A retailer collects an assortment of goods and services from various sources,buys in large quantities,and sells in small amounts to final consumers.This is referred to as ________.

Accepted Answer

A)  one-stop shopping 
B)  the retail concept 
C)  retail transactional efficiency 
D)  the sorting process 
A)  one-stop shopping 
B)  the retail concept 
C)  retail transactional efficiency 
D)  the sorting process

Question 4

The sorting process allows manufacturers to specialize in a narrow product line,while allowing final consumers to have one-stop shopping.

Accepted Answer

A) True 
 B)False

Question 5

Channel relations are generally smoothest when intensive distribution is used.

Accepted Answer

A) True 
 B)False

Question 6

The retailing concept is comprised of customer orientation,coordinated effort,value- driven,and goal orientation.

Accepted Answer

A) True 
 B)False

Question 7

Apply the six steps in strategic planning to your college/university store.

Accepted Answer

Step 1: Define the Mission and Vision
Th

Question 8

Manufacturers can increase their power in a distribution channel through ________.

Accepted Answer

A)  operating their own retail facilities 
B)  developing dealer brands 
C)  expanding into foreign markets 
D)  use of intensive distribution 
A)  operating their own retail facilities 
B)  developing dealer brands 
C)  expanding into foreign markets 
D)  use of intensive distribution

Question 9

Mail and telephone orders,direct selling,and vending machine sales are not part of retailing.

Accepted Answer

A) True 
 B)False

Question 10

Suppliers sell through a moderate number of retailers in ________ distribution.

Accepted Answer

A)  intensive 
B)  dual 
C)  exclusive 
D)  selective 
A)  intensive 
B)  dual 
C)  exclusive 
D)  selective

Question 11

Identify the major pros and cons of the use omnichannel retailing by a clothing retailer that sells designer apparel through both in-store and Web-based outlets.

Accepted Answer

Omnichannel retailing offers several adv

Question 12

Channel conflict is minimized in intensive distribution.

Accepted Answer

A) True 
 B)False

Question 13

In 2015,the pre-tax profits for department stores averaged about ________ percent of sales.

Accepted Answer

A)  0.5 
B)  1.0 
C)  2.1 
D)  3.5 
A)  0.5 
B)  1.0 
C)  2.1 
D)  3.5

Question 14

Store atmosphere,retail image,and customer service are aspects of the total retail experience.

Accepted Answer

A) True 
 B)False

Question 15

Consumers are able to shop in a "one-stop shopping environment" due to the ________.

Accepted Answer

A)  increased size of stores 
B)  development of franchising 
C)  sorting process 
D)  development of prototype stores 
A)  increased size of stores 
B)  development of franchising 
C)  sorting process 
D)  development of prototype stores

Question 16

Which statement concerning retailing is not correct?

Accepted Answer

A)  Retailing involves both goods and services. 
B)  Retailing must involve a retailer. 
C)  Direct selling is part of retailing. 
D)  Retailing is the final stage in a channel of distribution. 
A)  Retailing involves both goods and services. 
B)  Retailing must involve a retailer. 
C)  Direct selling is part of retailing. 
D)  Retailing is the final stage in a channel of distribution.

Question 17

The channel of distribution consists of ________.

Accepted Answer

A)  the movement of goods and services from manufacturer to consumer-user 
B)  all of the businesses and people involved in the physical movement and transfer of ownership of goods and services from producer to consumer 
C)  all independent intermediaries involved with the transfer of title of goods and services 
D)  all middlemen involved with the physical movement of goods and services 
A)  the movement of goods and services from manufacturer to consumer-user 
B)  all of the businesses and people involved in the physical movement and transfer of ownership of goods and services from producer to consumer 
C)  all independent intermediaries involved with the transfer of title of goods and services 
D)  all middlemen involved with the physical movement of goods and services

Question 18

Exclusive distribution decreases price competition among retailers.

Accepted Answer

A) True 
 B)False

Question 19

A retailer uses multiple points of contact in omnichannel retailing.

Accepted Answer

A) True 
 B)False

Question 20

The retailing concept is comprised of ________.

Accepted Answer

A)  objectives, implementable actions, feedback, and strategy adjustment 
B)  short- and long-term objectives, organization mission, and the development of a competitive defensible strategy 
C)  customer orientation, coordinated effort, value-driven, and goal orientation 
D)  niche strategy, cost leadership, and focus 
A)  objectives, implementable actions, feedback, and strategy adjustment 
B)  short- and long-term objectives, organization mission, and the development of a competitive defensible strategy 
C)  customer orientation, coordinated effort, value-driven, and goal orientation 
D)  niche strategy, cost leadership, and focus

Which retail strategy focuses on existing customers?

A major disadvantage of the retailing concept as applied to the development of a retail strategy is that it does not focus on ________.

A retailer collects an assortment of goods and services from various sources,buys in large quantities,and sells in small amounts to final consumers.This is referred to as ________.

The sorting process allows manufacturers to specialize in a narrow product line,while allowing final consumers to have one-stop shopping.

Channel relations are generally smoothest when intensive distribution is used.

The retailing concept is comprised of customer orientation,coordinated effort,value- driven,and goal orientation.

Apply the six steps in strategic planning to your college/university store.

Manufacturers can increase their power in a distribution channel through ________.

Mail and telephone orders,direct selling,and vending machine sales are not part of retailing.

Suppliers sell through a moderate number of retailers in ________ distribution.

Identify the major pros and cons of the use omnichannel retailing by a clothing retailer that sells designer apparel through both in-store and Web-based outlets.

Channel conflict is minimized in intensive distribution.

In 2015,the pre-tax profits for department stores averaged about ________ percent of sales.

Store atmosphere,retail image,and customer service are aspects of the total retail experience.

Consumers are able to shop in a "one-stop shopping environment" due to the ________.

Which statement concerning retailing is not correct?

The channel of distribution consists of ________.

Exclusive distribution decreases price competition among retailers.

A retailer uses multiple points of contact in omnichannel retailing.

The retailing concept is comprised of ________.

Building and Sustaining Relationships in Retailing

Strategic Planning in Retailing

Retail Institutions by Ownership

Retail Institutions by Store-Based Strategy Mix

Web, nonstore-Based, and Other Forms of Nontraditional Retailing

Identifying and Understanding Consumers

Information Gathering and Processing in Retailing

Trading-Area Analysis

Site Selection

Retail Organization and Human Resource Management

Operations Management: Financial Dimensions

Operations Management: Operational Dimensions

Developing Merchandise Plans

Implementing Merchandise Plans

Financial Merchandise Management

Pricing in Retailing

Establishing and Maintaining a Retail Image

Promotional Strategy

Integrating and Controlling the Retail Strategy

Filters

Exam 1: An Introduction to Retailing

Which retail strategy focuses on existing customers?

A major disadvantage of the retailing concept as applied to the development of a retail strategy is that it does not focus on ________.

A retailer collects an assortment of goods and services from various sources,buys in large quantities,and sells in small amounts to final consumers.This is referred to as ________.

The sorting process allows manufacturers to specialize in a narrow product line,while allowing final consumers to have one-stop shopping.

Channel relations are generally smoothest when intensive distribution is used.

The retailing concept is comprised of customer orientation,coordinated effort,value- driven,and goal orientation.

Apply the six steps in strategic planning to your college/university store.

Manufacturers can increase their power in a distribution channel through ________.

Mail and telephone orders,direct selling,and vending machine sales are not part of retailing.

Suppliers sell through a moderate number of retailers in ________ distribution.

Identify the major pros and cons of the use omnichannel retailing by a clothing retailer that sells designer apparel through both in-store and Web-based outlets.

Channel conflict is minimized in intensive distribution.

In 2015,the pre-tax profits for department stores averaged about ________ percent of sales.

Store atmosphere,retail image,and customer service are aspects of the total retail experience.

Consumers are able to shop in a "one-stop shopping environment" due to the ________.

Which statement concerning retailing is not correct?

The channel of distribution consists of ________.

Exclusive distribution decreases price competition among retailers.

A retailer uses multiple points of contact in omnichannel retailing.

The retailing concept is comprised of ________.

Building and Sustaining Relationships in Retailing

Strategic Planning in Retailing

Retail Institutions by Ownership

Retail Institutions by Store-Based Strategy Mix

Web, nonstore-Based, and Other Forms of Nontraditional Retailing

Identifying and Understanding Consumers

Information Gathering and Processing in Retailing

Trading-Area Analysis

Site Selection

Retail Organization and Human Resource Management

Operations Management: Financial Dimensions

Operations Management: Operational Dimensions

Developing Merchandise Plans

Implementing Merchandise Plans

Financial Merchandise Management

Pricing in Retailing

Establishing and Maintaining a Retail Image

Promotional Strategy

Integrating and Controlling the Retail Strategy

Filters