Exam 20: Integrating and Controlling the Retail Strategy

In developing performance measures for a retail operation,it is important to ________.

The use of outside consultants in conducting a retail audit is most suitable for very small retail firms.

Outline the principles of benchmarking for a retailer.

A retailer that would not conduct an audit unless it will involve the lowest incremental cost possible should consider what form of auditing organization?

Which of the following should be audited when a store is closed?

A retail audit should be implemented at least once in three years.

A retail audit that focuses on one area of a retailer's strategy mix is a ________ retail audit.

What types of activities should be audited when the retailer is open? ...when the retailer is closed?

Discuss the relationship of the sales opportunity grid to slotting allowances and direct product profitability.

The use of mystery shoppers to evaluate a retailer's sales force is an example of a ________.

A chain with 100 stores is currently opening between 10 and 12 new stores per year.What performance measure most accurately reflects continuing sales productivity?

Which of the following is not a factor in the global retail development index (GRDI)?

Typically,the most productive strategy is the most expensive strategy.

A retailer systematically reviews its planning process,as well as how it implements its plans.This review process is called ________.

A vertical audit typically precedes a horizontal audit.

To be effective,strategic planning needs to be ________.

Under what conditions should an audit be conducted by company specialists? ...by company department managers? ...by outside auditors?

Sales per square foot is a poor performance measure for a ________.

The study of "best practices" in retailing is an example of ________.

Which statement concerning benchmarking is not correct?