Question 1

A new fashion costing $15,000 in Paris is copied in a $1,000 version in emulation,and in a $75 version in economic emulation.

Accepted Answer

A) True 
 B)False  True

Question 2

Which buying organization format for department stores is centralized?

Accepted Answer

A)  main store control 
B)  equal store 
C)  separate store 
D)  diversified retailer 
A)  main store control 
B)  equal store 
C)  separate store 
D)  diversified retailer A

Question 3

Develop a merchandising plan for fad merchandise.

Accepted Answer

Developing a merchandising plan for fad merchandise involves understanding the current market trends and identifying popular fads that have the potential to drive sales. The first step is to conduct thorough market research to identify the latest fads and trends that are capturing consumer interest. This could include anything from popular fashion items, tech gadgets, or viral products.

Once the fad merchandise has been identified, the next step is to create a merchandising strategy that capitalizes on the trend. This may involve creating special displays or sections within the store dedicated to the fad merchandise, as well as incorporating the products into promotional campaigns and marketing materials.

It's also important to ensure that there is enough inventory of the fad merchandise to meet the anticipated demand. This may involve working closely with suppliers and manufacturers to secure enough stock to meet customer demand.

Additionally, it's important to monitor the sales and customer feedback related to the fad merchandise in order to make informed decisions about future merchandising strategies. This could involve adjusting the merchandising plan based on sales performance, customer feedback, and the longevity of the fad.

Overall, developing a merchandising plan for fad merchandise requires a keen understanding of current trends, effective marketing strategies, and the ability to adapt to changing consumer preferences. By staying ahead of the latest fads and implementing a well-thought-out merchandising plan, retailers can capitalize on the popularity of fad merchandise and drive sales.

Question 4

Specialized regional buying preferences are best served through which buying organization?

Accepted Answer

A)  decentralized buying organization 
B)  inside buying organization 
C)  informal buying organization 
D)  formal buying organization 
A)  decentralized buying organization 
B)  inside buying organization 
C)  informal buying organization 
D)  formal buying organization

Question 5

Direct product profitability corresponds to a product's gross profit.

Accepted Answer

A) True 
 B)False

Question 6

Under what circumstances would you utilize a basic stock list for bath towels? ...a model stock list? ...a never-out list? Explain your answers.

Accepted Answer

A basic stock list for bath towels would

Question 7

An informal buying organization is most likely to be found in a small,independent retailer.

Accepted Answer

A) True 
 B)False

Question 8

Describe the significance of the battle of the brands for a major supermarket chain.

Accepted Answer

The battle of the brands is significant

Question 9

The battle of the brands is an example of channel conflict.

Accepted Answer

A) True 
 B)False

Question 10

A retailer with homogeneous demand patterns throughout its branches should use a decentralized buying organization.

Accepted Answer

A) True 
 B)False

Question 11

A model stock plan is used for ________.

Accepted Answer

A)  dealer brands 
B)  fashion items 
C)  staple merchandise 
D)  key items 
A)  dealer brands 
B)  fashion items 
C)  staple merchandise 
D)  key items

Question 12

The opposite strategy to rationalized retailing is ________.

Accepted Answer

A)  micromerchandising 
B)  centralized management 
C)  risk-minimization retailing 
D)  category management 
A)  micromerchandising 
B)  centralized management 
C)  risk-minimization retailing 
D)  category management

Question 13

Under what conditions should a retailer consider using an informal buying organization?

Accepted Answer

A retailer should consider using an info

Question 14

a.Explain the pros and cons of the use of category management.
b.List and describe five performance measures used in category management.

Accepted Answer

a. The pros of using category management

Question 15

Cooperative buying organizations generally are comprised of franchisees.

Accepted Answer

A) True 
 B)False

Question 16

In a centralized buying organization,________.

Accepted Answer

A)  all purchases emanate from one office 
B)  purchase decisions are made at local store units 
C)  local units have freedom in buying, but must use approved vendors 
D)  purchase decisions are made at the regional level 
A)  all purchases emanate from one office 
B)  purchase decisions are made at local store units 
C)  local units have freedom in buying, but must use approved vendors 
D)  purchase decisions are made at the regional level

Question 17

The use of explanatory advertising by retailers and limited distribution by manufacturers are characteristics of which product life cycle stage?

Accepted Answer

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

Question 18

A basic stock list changes less on a year-to-year basis than either a never-out list or a model stock plan.

Accepted Answer

A) True 
 B)False

Question 19

Much of the benefit of resident buying offices can be achieved by a retailer using an outside buying organization.

Accepted Answer

A) True 
 B)False

Question 20

Decentralized buying organizations are most likely to secure favorable purchase terms from vendors.

Accepted Answer

A) True 
 B)False

A new fashion costing $15,000 in Paris is copied in a $1,000 version in emulation,and in a $75 version in economic emulation.

Which buying organization format for department stores is centralized?

Develop a merchandising plan for fad merchandise.

Specialized regional buying preferences are best served through which buying organization?

Direct product profitability corresponds to a product's gross profit.

Under what circumstances would you utilize a basic stock list for bath towels? ...a model stock list? ...a never-out list? Explain your answers.

An informal buying organization is most likely to be found in a small,independent retailer.

Describe the significance of the battle of the brands for a major supermarket chain.

The battle of the brands is an example of channel conflict.

A retailer with homogeneous demand patterns throughout its branches should use a decentralized buying organization.

A model stock plan is used for ________.

The opposite strategy to rationalized retailing is ________.

Under what conditions should a retailer consider using an informal buying organization?

a.Explain the pros and cons of the use of category management. b.List and describe five performance measures used in category management.

Cooperative buying organizations generally are comprised of franchisees.

In a centralized buying organization,________.

The use of explanatory advertising by retailers and limited distribution by manufacturers are characteristics of which product life cycle stage?

A basic stock list changes less on a year-to-year basis than either a never-out list or a model stock plan.

Much of the benefit of resident buying offices can be achieved by a retailer using an outside buying organization.

Decentralized buying organizations are most likely to secure favorable purchase terms from vendors.

An Introduction to Retailing

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

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 14: Developing Merchandise Plans

A new fashion costing $15,000 in Paris is copied in a $1,000 version in emulation,and in a $75 version in economic emulation.

Which buying organization format for department stores is centralized?

Develop a merchandising plan for fad merchandise.

Specialized regional buying preferences are best served through which buying organization?

Direct product profitability corresponds to a product's gross profit.

Under what circumstances would you utilize a basic stock list for bath towels? ...a model stock list? ...a never-out list? Explain your answers.

An informal buying organization is most likely to be found in a small,independent retailer.

Describe the significance of the battle of the brands for a major supermarket chain.

The battle of the brands is an example of channel conflict.

A retailer with homogeneous demand patterns throughout its branches should use a decentralized buying organization.

A model stock plan is used for ________.

The opposite strategy to rationalized retailing is ________.

Under what conditions should a retailer consider using an informal buying organization?

a.Explain the pros and cons of the use of category management. b.List and describe five performance measures used in category management.

Cooperative buying organizations generally are comprised of franchisees.

In a centralized buying organization,________.

The use of explanatory advertising by retailers and limited distribution by manufacturers are characteristics of which product life cycle stage?

A basic stock list changes less on a year-to-year basis than either a never-out list or a model stock plan.

Much of the benefit of resident buying offices can be achieved by a retailer using an outside buying organization.

Decentralized buying organizations are most likely to secure favorable purchase terms from vendors.

An Introduction to Retailing

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

Implementing Merchandise Plans

Financial Merchandise Management

Pricing in Retailing

Establishing and Maintaining a Retail Image

Promotional Strategy

Integrating and Controlling the Retail Strategy

Filters