Exam 20: Integrating and Controlling the Retail Strategy

A retailer compares its actual performance against potential performance and then determines the areas in which it must improve.This illustrates ________.

To be successful,a retail plan needs to be conducted as an integrated and ongoing process.

Which retail audit needs to be conducted when the store is open?

A sales opportunity grid is generally used in conjunction with ________.

While a retailer planned to have a 20 percent return on its net worth,actual return on net worth was only 15 percent.An analysis of this performance measure revealed that the firm's operating costs were much higher than expected.The analysis performed by the retailer is ________.

Which statement concerning the global retail development index (GRDI)is not correct?

Develop a vertical pricing audit form for a Web-based computer software retailer.

A sales opportunity grid evaluates retail good/service alternatives on the basis of ________.

The purpose of ________ is to study what a retailer is presently doing,appraise performance,and make recommendations for the future.

a.Outline three scenarios that can affect the performance of a home-improvement chain. b.How can these scenarios be incorporated into a contingency plan?

Which planning process is most in accord with a human resource philosophy that believes that employees are basically lazy and need constant direction?

A difficulty in using sales per square foot as a performance measure for a rapidly growing retailer is that it ________.

A retail planning organization can be conducted on either a top-down or bottom-up basis.

Audit forms generally resemble ________.

A good retail audit is conducted on a regular basis,comprehensive,systematic,and conducted in an independent manner.

An investigation of a retailer's total retailing effort or some aspect of it is a ________.

An advantage of using company department managers in conducting a retail audit involves the ________.

A retailer should develop its retail categories independent of well-known and respected secondary sources.

Slotting allowance fees for a new product can be assessed through ________.

The use of a mystery shopper in assessing sales training involves a nondisguised audit while the store is open.