Question 1

A retailer that concentrates on selling one goods or service line is a ________ store.

Accepted Answer

A)  full-line discount 
B)  specialty 
C)  variety 
D)  department 
A)  full-line discount 
B)  specialty 
C)  variety 
D)  department B

Question 2

A retailer should limit its investment in essential expenditures during which stage of the retail life cycle?

Accepted Answer

A)  maturity 
B)  decline 
C)  growth 
D)  introduction 
A)  maturity 
B)  decline 
C)  growth 
D)  introduction B

Question 3

According to the wheel of retailing theory,which pricing strategy is used by a retailer during the innovation phase?

Accepted Answer

A)  pricing above the market 
B)  pricing at the market 
C)  pricing below the market 
D)  skimming pricing 
A)  pricing above the market 
B)  pricing at the market 
C)  pricing below the market 
D)  skimming pricing C

Question 4

Opportunistic buying is a key aspect of the retail strategy of ________.

Accepted Answer

A)  warehouse stores and off-price chains 
B)  box (limited-line) stores and conventional supermarkets 
C)  supercenters and factory outlets 
D)  supercenters and vending machines 
A)  warehouse stores and off-price chains 
B)  box (limited-line) stores and conventional supermarkets 
C)  supercenters and factory outlets 
D)  supercenters and vending machines

Question 5

An advantage of the self-service concept as applied to both food-oriented and general merchandise retailers is ________.

Accepted Answer

A)  increased impulse purchases 
B)  lower space requirements 
C)  improved pilferage control 
D)  lower fixturing expenses 
A)  increased impulse purchases 
B)  lower space requirements 
C)  improved pilferage control 
D)  lower fixturing expenses

Question 6

The vulnerability of a low-cost retailer in the wheel of retailing theory due to trading up corresponds to the accelerated development stage of the retail life-cycle theory.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following allows a retailer to accomplish one-stop shopping?

Accepted Answer

A)  franchising 
B)  licensing 
C)  independent vertical marketing systems 
D)  food-based superstores 
A)  franchising 
B)  licensing 
C)  independent vertical marketing systems 
D)  food-based superstores

Question 8

Prototype stores are often used as a cost-containment approach.

Accepted Answer

A) True 
 B)False

Question 9

A combination store consists of a supermarket and a leased department general merchandise store operator.

Accepted Answer

A) True 
 B)False

Question 10

The wheel of retailing suggests that ________.

Accepted Answer

A)  consumers desire customer service over price 
B)  established retailers should be cautious in changing their strategy from low end to high end 
C)  retail consumers are store loyal 
D)  retailers that move up the wheel typically can keep their price-conscious customers 
A)  consumers desire customer service over price 
B)  established retailers should be cautious in changing their strategy from low end to high end 
C)  retail consumers are store loyal 
D)  retailers that move up the wheel typically can keep their price-conscious customers

Question 11

Develop a strategy for a small independent leather goods retailer to become a destination retailer.

Accepted Answer

To become a destination retailer, a smal

Question 12

Which retail institution purchases brand-name merchandise on an opportunistic basis?

Accepted Answer

A)  warehouse store 
B)  full-line discount store 
C)  flea market 
D)  off-price chain 
A)  warehouse store 
B)  full-line discount store 
C)  flea market 
D)  off-price chain

Question 13

Supermarkets have responded to the growth of the convenience store by being open for 24 hours and by installing express lanes for small purchases.

Accepted Answer

A) True 
 B)False

Question 14

Membership clubs sell merchandise to both wholesale and final consumers.

Accepted Answer

A) True 
 B)False

Question 15

A significant factor in the growth of factory outlets is the ________.

Accepted Answer

A)  growth of off-price chains 
B)  desire of suppliers to control where their discounted merchandise is sold 
C)  desire for independent vertical systems by manufacturers 
D)  ability of outlets to purchase merchandise for cash 
A)  growth of off-price chains 
B)  desire of suppliers to control where their discounted merchandise is sold 
C)  desire for independent vertical systems by manufacturers 
D)  ability of outlets to purchase merchandise for cash

Question 16

The rapid initial growth of the warehouse store and the off-price chain can be explained by the wheel of retailing theory.

Accepted Answer

A) True 
 B)False

Question 17

Sales of fill-in merchandise are particularly important to which food-oriented retailer?

Accepted Answer

A)  convenience store 
B)  conventional supermarket 
C)  food-based superstore 
D)  box (limited line) store 
A)  convenience store 
B)  conventional supermarket 
C)  food-based superstore 
D)  box (limited line) store

Question 18

Categorize five major food-oriented retailers using a width and depth of assortment classification system.Explain your category choice for each retailer.

Accepted Answer

1. Walmart - Wide and Deep Assortment

Question 19

Which retail institution is not included in the traditional definition of a supermarket?

Accepted Answer

A)  convenience store 
B)  food-based superstore 
C)  warehouse store 
D)  box (limited-line) store 
A)  convenience store 
B)  food-based superstore 
C)  warehouse store 
D)  box (limited-line) store

Question 20

Conventional supermarkets can be profitable at gross margins that are far lower than warehouse stores.

Accepted Answer

A) True 
 B)False

A retailer that concentrates on selling one goods or service line is a ________ store.

A retailer should limit its investment in essential expenditures during which stage of the retail life cycle?

According to the wheel of retailing theory,which pricing strategy is used by a retailer during the innovation phase?

Opportunistic buying is a key aspect of the retail strategy of ________.

An advantage of the self-service concept as applied to both food-oriented and general merchandise retailers is ________.

The vulnerability of a low-cost retailer in the wheel of retailing theory due to trading up corresponds to the accelerated development stage of the retail life-cycle theory.

Which of the following allows a retailer to accomplish one-stop shopping?

Prototype stores are often used as a cost-containment approach.

A combination store consists of a supermarket and a leased department general merchandise store operator.

The wheel of retailing suggests that ________.

Develop a strategy for a small independent leather goods retailer to become a destination retailer.

Which retail institution purchases brand-name merchandise on an opportunistic basis?

Supermarkets have responded to the growth of the convenience store by being open for 24 hours and by installing express lanes for small purchases.

Membership clubs sell merchandise to both wholesale and final consumers.

A significant factor in the growth of factory outlets is the ________.

The rapid initial growth of the warehouse store and the off-price chain can be explained by the wheel of retailing theory.

Sales of fill-in merchandise are particularly important to which food-oriented retailer?

Categorize five major food-oriented retailers using a width and depth of assortment classification system.Explain your category choice for each retailer.

Which retail institution is not included in the traditional definition of a supermarket?

Conventional supermarkets can be profitable at gross margins that are far lower than warehouse stores.

An Introduction to Retailing

Building and Sustaining Relationships in Retailing

Strategic Planning in Retailing

Retail Institutions by Ownership

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 5: Retail Institutions by Store-Based Strategy Mix

A retailer that concentrates on selling one goods or service line is a ________ store.

A retailer should limit its investment in essential expenditures during which stage of the retail life cycle?

According to the wheel of retailing theory,which pricing strategy is used by a retailer during the innovation phase?

Opportunistic buying is a key aspect of the retail strategy of ________.

An advantage of the self-service concept as applied to both food-oriented and general merchandise retailers is ________.

The vulnerability of a low-cost retailer in the wheel of retailing theory due to trading up corresponds to the accelerated development stage of the retail life-cycle theory.

Which of the following allows a retailer to accomplish one-stop shopping?

Prototype stores are often used as a cost-containment approach.

A combination store consists of a supermarket and a leased department general merchandise store operator.

The wheel of retailing suggests that ________.

Develop a strategy for a small independent leather goods retailer to become a destination retailer.

Which retail institution purchases brand-name merchandise on an opportunistic basis?

Supermarkets have responded to the growth of the convenience store by being open for 24 hours and by installing express lanes for small purchases.

Membership clubs sell merchandise to both wholesale and final consumers.

A significant factor in the growth of factory outlets is the ________.

The rapid initial growth of the warehouse store and the off-price chain can be explained by the wheel of retailing theory.

Sales of fill-in merchandise are particularly important to which food-oriented retailer?

Categorize five major food-oriented retailers using a width and depth of assortment classification system.Explain your category choice for each retailer.

Which retail institution is not included in the traditional definition of a supermarket?

Conventional supermarkets can be profitable at gross margins that are far lower than warehouse stores.

An Introduction to Retailing

Building and Sustaining Relationships in Retailing

Strategic Planning in Retailing

Retail Institutions by Ownership

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