Question 1

A horizontal audit is often referred to as a "retail strategy" audit.

Accepted Answer

A) True 
 B)False

Question 2

Scenario analysis always involves controllable variables.

Accepted Answer

A) True 
 B)False

Question 3

An appropriate time to conduct a retail audit of a firm's accounting system is ________.

Accepted Answer

A)  at the time of a complete physical inventory 
B)  during the peak sales period 
C)  when top management is unavailable 
D)  during an off-season 
A)  at the time of a complete physical inventory 
B)  during the peak sales period 
C)  when top management is unavailable 
D)  during an off-season

Question 4

Which planning process is most in accord with a human resource philosophy that stresses employee creativity?

Accepted Answer

A)  bottom-up planning 
B)  top-down planning 
C)  scenario-based planning 
D)  centralized planning 
A)  bottom-up planning 
B)  top-down planning 
C)  scenario-based planning 
D)  centralized planning

Question 5

Top-down plans involve a more participative management style than bottom-up plans.

Accepted Answer

A) True 
 B)False

Question 6

An accepted measure of customer satisfaction is the American Customer Satisfaction Index (ACSI).

Accepted Answer

A) True 
 B)False

Question 7

It is important to use similar-sized retailers as part of benchmarking.

Accepted Answer

A) True 
 B)False

Question 8

Outline five performance measures used by supermarket retailers.Describe the importance of each measure.

Accepted Answer

1. Sales per square foot: This measure c

Question 9

In benchmarking,a retailer ________.

Accepted Answer

A)  compares its efficiency to those of comparable retailers 
B)  evaluates its performance relative to its plans 
C)  studies its customer satisfaction measure using the American Customer Satisfaction Index (ACSI) 
D)  sets its own standards and measures its performance based on the achievements of its sector of retailing, specific competitors, high-performance firms, and/or the prior actions of the company itself 
A)  compares its efficiency to those of comparable retailers 
B)  evaluates its performance relative to its plans 
C)  studies its customer satisfaction measure using the American Customer Satisfaction Index (ACSI) 
D)  sets its own standards and measures its performance based on the achievements of its sector of retailing, specific competitors, high-performance firms, and/or the prior actions of the company itself

Question 10

A sales opportunity grid evaluates a product's profitability over several time periods.

Accepted Answer

A) True 
 B)False

Question 11

A retail audit should be conducted ________.

Accepted Answer

A)  every 3 months 
B)  at least annually 
C)  every 3 years 
D)  every 5 years 
A)  every 3 months 
B)  at least annually 
C)  every 3 years 
D)  every 5 years

Question 12

A service retailer prides itself as always being on time.This most closely resembles which SERVQUAL area of performance?

Accepted Answer

A)  assurance 
B)  reliability 
C)  empathy 
D)  tangibles 
A)  assurance 
B)  reliability 
C)  empathy 
D)  tangibles

A horizontal audit is often referred to as a "retail strategy" audit.

Scenario analysis always involves controllable variables.

An appropriate time to conduct a retail audit of a firm's accounting system is ________.

Which planning process is most in accord with a human resource philosophy that stresses employee creativity?

Top-down plans involve a more participative management style than bottom-up plans.

An accepted measure of customer satisfaction is the American Customer Satisfaction Index (ACSI).

It is important to use similar-sized retailers as part of benchmarking.

Outline five performance measures used by supermarket retailers.Describe the importance of each measure.

In benchmarking,a retailer ________.

A sales opportunity grid evaluates a product's profitability over several time periods.

A retail audit should be conducted ________.

A service retailer prides itself as always being on time.This most closely resembles which SERVQUAL area of performance?

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

Developing Merchandise Plans

Implementing Merchandise Plans

Financial Merchandise Management

Pricing in Retailing

Establishing and Maintaining a Retail Image

Promotional Strategy

Filters

Exam 20: Integrating and Controlling the Retail Strategy

A horizontal audit is often referred to as a "retail strategy" audit.

Scenario analysis always involves controllable variables.

An appropriate time to conduct a retail audit of a firm's accounting system is ________.

Which planning process is most in accord with a human resource philosophy that stresses employee creativity?

Top-down plans involve a more participative management style than bottom-up plans.

An accepted measure of customer satisfaction is the American Customer Satisfaction Index (ACSI).

It is important to use similar-sized retailers as part of benchmarking.

Outline five performance measures used by supermarket retailers.Describe the importance of each measure.

In benchmarking,a retailer ________.

A sales opportunity grid evaluates a product's profitability over several time periods.

A retail audit should be conducted ________.

A service retailer prides itself as always being on time.This most closely resembles which SERVQUAL area of performance?

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

Developing Merchandise Plans

Implementing Merchandise Plans

Financial Merchandise Management

Pricing in Retailing

Establishing and Maintaining a Retail Image

Promotional Strategy

Filters