Exam 2: Building and Sustaining Relationships in Retailing

The basic ongoing expense for many service retailers is inventory investment costs.

Which statement concerning retail technology is not correct?

Consumers have goods that they own repaired,maintained,or altered with ________ services.

The bundle of benefits offered to consumers through a channel of distribution is ________.

The activities of government,business,and other organizations to protect people from practices infringing upon their rights as consumers is ________.

Generally,consumers are more concerned with the results of a value chain,as opposed to the value chain process.

A retailer develops a merchandise plan on the basis of classifying goods into substitutes or complements.This illustrates ________.

Low-cost financing available from manufacturers for purchases of capital goods may lower the overall demand for ________ services.

The right to safety,information,choice,and to be heard directly concern ________.

A retailer has a consumer advisory committee which meets monthly with a vice-president of operations.The committee reflects which element of the consumer's bill of rights?

In contrast to a revolving credit account,with an open account,a consumer must pay the full balance when it is due.

Which statement concerning complaints is correct?

An expected retail strategy for a ________ can be an augmented retail strategy for a(n)________.

Instruction in home repair by home improvement centers is likely to reduce the demand for ________ services.

The major difference between social responsibility of retailers and consumerism is that ________.

A customer must pay his/her full bill when it is due in a(n)________.

A retailer concerned with relationship retailing should concern itself with attracting and keeping new customers.

Relationship retailing is based on the building and maintenance of long-term relationships with profitable customers.

A retailer can best implement a consumer's "right to be informed" by ________.

Consumers lease physical products for a specified period of time with ________ services.