Question 1

A retailer's role in a supply chain is to:

Accepted Answer

A)  act as the liaison between manufacturers and suppliers. 
B)  buy merchandise exclusively from the manufacturers. 
C)  negotiate with manufacturers to draw contracts for wholesalers. 
D)  add value to products and services sold to customers. 
E)  sell goods and services to wholesalers. 
A)  act as the liaison between manufacturers and suppliers. 
B)  buy merchandise exclusively from the manufacturers. 
C)  negotiate with manufacturers to draw contracts for wholesalers. 
D)  add value to products and services sold to customers. 
E)  sell goods and services to wholesalers. D

Question 2

Explain briefly the problems faced by retailers before the development of sophisticated information systems.

Accepted Answer

Prior to the development of sophisticated information systems,it was difficult for someone other than the local store manager to track how the merchandise in the store was selling-whether it was selling above plan and needed to be reordered or was selling below plan and needed to have its price reduced.It was also difficult to collect and consolidate the plans from a number of different stores so that a buyer could place large orders with vendors to get price discounts.Thus,before the availability of modern information systems,it was difficult for retailers to lower costs through scale economies,and larger retailers had limited advantages over small local or regional retailers.

Question 3

The retail sector plays a key role in developed economies.

Accepted Answer

A) True 
 B)False  True

Question 4

_____ means that a firm performs more than one set of activities in the channel,as occurs when a retailer engages in wholesaling activities by operating its own distribution centers to supply its stores.

Accepted Answer

A)  Channel diversification 
B)  Horizontal development 
C)  Horizontal integration 
D)  Vertical expansion 
E)  Vertical integration 
A)  Channel diversification 
B)  Horizontal development 
C)  Horizontal integration 
D)  Vertical expansion 
E)  Vertical integration

Question 5

As a part of its merchandise management,the supermarket chain,Whole Foods Market seeks out and supports local producers,and it offers private-label products.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following businesses would NOT be considered a retailer?

Accepted Answer

A)  A hot dog cart at the Highland Games 
B)  Delta Airlines 
C)  University bookstore 
D)  Priceline.com 
E)  Procter and Gamble 
A)  A hot dog cart at the Highland Games 
B)  Delta Airlines 
C)  University bookstore 
D)  Priceline.com 
E)  Procter and Gamble

Question 7

Which of the following is true of the career opportunities offered by the retailing industry?

Accepted Answer

A)  Retailers employ people with exclusive expertise in supply chain management. 
B)  Retail managers are often given considerable responsibility early in their careers. 
C)  Retailing offers limited opportunities for entrepreneurs. 
D)  Retail management is not a very lucrative career path. 
E)  People with a marketing background have limited opportunities in the retail industry. 
A)  Retailers employ people with exclusive expertise in supply chain management. 
B)  Retail managers are often given considerable responsibility early in their careers. 
C)  Retailing offers limited opportunities for entrepreneurs. 
D)  Retail management is not a very lucrative career path. 
E)  People with a marketing background have limited opportunities in the retail industry.

Question 8

Tech Games,a retailer,purchases many of the video games DVDs,Wii games,and game consoles on a large scale.It then offers the products to customers in small quantities based on their requirements.The value-creating function performed by Tech Games in the given scenario is _____.

Accepted Answer

A)  providing assortments 
B)  breaking bulk 
C)  holding inventory 
D)  providing services 
E)  creating a retail mix 
A)  providing assortments 
B)  breaking bulk 
C)  holding inventory 
D)  providing services 
E)  creating a retail mix

Question 9

Prime Industries Inc.is a large company producing a wide range of chemicals.The company recently installed a waste water treatment facility in its premises.It believes that releasing water containing chemical waste into the river would harm the entire population of the city.Thus,it is in the _____ stage of incorporating corporate social responsibility.

Accepted Answer

A)  initial 
B)  second 
C)  tertiary 
D)  final 
E)  acquisition 
A)  initial 
B)  second 
C)  tertiary 
D)  final 
E)  acquisition

Question 10

A retailer that is vertically integrated:

Accepted Answer

A)  concentrates on selling only to businesses. 
B)  outsources all supply chain activities to independent firms. 
C)  has limited control on the activities of the supply chain. 
D)  performs more than one activity in the distribution channel. 
E)  concentrates only on operating its own retail stores. 
A)  concentrates on selling only to businesses. 
B)  outsources all supply chain activities to independent firms. 
C)  has limited control on the activities of the supply chain. 
D)  performs more than one activity in the distribution channel. 
E)  concentrates only on operating its own retail stores.

Question 11

The Chinese distribution system:

Accepted Answer

A)  has a combination of large stores and large firms resulting in an efficient distribution system. 
B)  is characterized by many small and medium-sized firms. 
C)  has the most number of large retailers operating their own warehouses. 
D)  is characterized by a high retail density. 
A)  has a combination of large stores and large firms resulting in an efficient distribution system. 
B)  is characterized by many small and medium-sized firms. 
C)  has the most number of large retailers operating their own warehouses. 
D)  is characterized by a high retail density.

Question 12

A retail mix refers to:

Accepted Answer

A)  a strategy for identifying primary competitors through market research. 
B)  the idea of selling similar merchandise using different types of retail outlets,such as drug and department stores. 
C)  the concept of offering merchandise not typically associated with their type of store. 
D)  a set of decisions retailers make to satisfy customer needs and influence their purchase decisions. 
E)  a retailer's decision to undertake wholesaling and manufacturing activities. 
A)  a strategy for identifying primary competitors through market research. 
B)  the idea of selling similar merchandise using different types of retail outlets,such as drug and department stores. 
C)  the concept of offering merchandise not typically associated with their type of store. 
D)  a set of decisions retailers make to satisfy customer needs and influence their purchase decisions. 
E)  a retailer's decision to undertake wholesaling and manufacturing activities.

Question 13

Which of the following is a key strategic decision made by a retailer?

Accepted Answer

A)  Managing merchandise inventories 
B)  Defining the target market 
C)  Managing the store 
D)  Creating the retail communication mix 
E)  Implementing visual merchandising 
A)  Managing merchandise inventories 
B)  Defining the target market 
C)  Managing the store 
D)  Creating the retail communication mix 
E)  Implementing visual merchandising

Question 14

When Austin saw pastries and coffee being sold at his local bookstore,he knew it was an example of _____.

Accepted Answer

A)  scrambled merchandising 
B)  intertype competition 
C)  product diversification 
D)  channel conflict 
E)  vertical differentiation 
A)  scrambled merchandising 
B)  intertype competition 
C)  product diversification 
D)  channel conflict 
E)  vertical differentiation

Question 15

Dailies is a large retail chain in New Jersey.Apart from selling to customers,Dailies supplies bread and vegetables to a large number of restaurants in and around New Jersey.Therefore,Dailies is engaged in _____ when selling to restaurants.

Accepted Answer

A)  wholesaling 
B)  retailing 
C)  merchandising 
D)  breaking bulk 
E)  channel expansion 
A)  wholesaling 
B)  retailing 
C)  merchandising 
D)  breaking bulk 
E)  channel expansion

Question 16

Ruth's Fashions is a popular boutique in Atlanta.It has a Web site that answers customer queries and also provides information on new arrivals and discounts.Customers also receive product information on their mobile phones.From the given example,it can be seen that Ruth's Fashions is involved in _____,which is a value-creating activity.

Accepted Answer

A)  breaking bulk 
B)  holding inventory 
C)  providing assortments 
D)  exclusive distribution 
E)  providing services 
A)  breaking bulk 
B)  holding inventory 
C)  providing assortments 
D)  exclusive distribution 
E)  providing services

Question 17

The development of information systems is one the forces facilitating the growth of large retail firms.

Accepted Answer

A) True 
 B)False

Question 18

How does scrambled merchandising impact retail competition?

Accepted Answer

Scrambled merchandising increases intert

Question 19

As the owner of Knights,a store specializing in men's suits,Isabella can use a retail strategy statement to identify all of the following EXCEPT:

Accepted Answer

A)  the advertising campaign developed to sell last season's merchandise. 
B)  the store's target market. 
C)  how the store will build a competitive advantage over other similar retailers. 
D)  what services the store will offer its customers. 
E)  what types of suits the store will stock. 
A)  the advertising campaign developed to sell last season's merchandise. 
B)  the store's target market. 
C)  how the store will build a competitive advantage over other similar retailers. 
D)  what services the store will offer its customers. 
E)  what types of suits the store will stock.

Question 20

Which of the following is a critical asset that enables retailers to build strategic advantages?

Accepted Answer

A)  Holding inventory 
B)  Breaking bulk 
C)  Providing services 
D)  Scrambled merchandising 
E)  Supply chain organization 
A)  Holding inventory 
B)  Breaking bulk 
C)  Providing services 
D)  Scrambled merchandising 
E)  Supply chain organization

A retailer's role in a supply chain is to:

Explain briefly the problems faced by retailers before the development of sophisticated information systems.

The retail sector plays a key role in developed economies.

_____ means that a firm performs more than one set of activities in the channel,as occurs when a retailer engages in wholesaling activities by operating its own distribution centers to supply its stores.

As a part of its merchandise management,the supermarket chain,Whole Foods Market seeks out and supports local producers,and it offers private-label products.

Which of the following businesses would NOT be considered a retailer?

Which of the following is true of the career opportunities offered by the retailing industry?

Tech Games,a retailer,purchases many of the video games DVDs,Wii games,and game consoles on a large scale.It then offers the products to customers in small quantities based on their requirements.The value-creating function performed by Tech Games in the given scenario is _____.

A retailer that is vertically integrated:

The Chinese distribution system:

A retail mix refers to:

Which of the following is a key strategic decision made by a retailer?

When Austin saw pastries and coffee being sold at his local bookstore,he knew it was an example of _____.

Dailies is a large retail chain in New Jersey.Apart from selling to customers,Dailies supplies bread and vegetables to a large number of restaurants in and around New Jersey.Therefore,Dailies is engaged in _____ when selling to restaurants.

The development of information systems is one the forces facilitating the growth of large retail firms.

How does scrambled merchandising impact retail competition?

As the owner of Knights,a store specializing in men's suits,Isabella can use a retail strategy statement to identify all of the following EXCEPT:

Which of the following is a critical asset that enables retailers to build strategic advantages?

Types of Retailers

Multichannel Retailing

Customer Buying Behavior

Retail Market Strategy

Financial Strategy

Retail Locations

Retail Site Location

Human Resource Management

Information Systems and Supply Chain Management

Customer Relationship Management

Managing the Merchandise Planning Process

Buying Merchandise

Retail Pricing

Retail Communication Mix

Managing the Store

Store Layout, Design, and Visual Merchandising

Customer Service

Filters

Exam 1: Introduction to the World of Retailing

A retailer's role in a supply chain is to:

Explain briefly the problems faced by retailers before the development of sophisticated information systems.

The retail sector plays a key role in developed economies.

_____ means that a firm performs more than one set of activities in the channel,as occurs when a retailer engages in wholesaling activities by operating its own distribution centers to supply its stores.

As a part of its merchandise management,the supermarket chain,Whole Foods Market seeks out and supports local producers,and it offers private-label products.

Which of the following businesses would NOT be considered a retailer?

Which of the following is true of the career opportunities offered by the retailing industry?

Tech Games,a retailer,purchases many of the video games DVDs,Wii games,and game consoles on a large scale.It then offers the products to customers in small quantities based on their requirements.The value-creating function performed by Tech Games in the given scenario is _____.

A retailer that is vertically integrated:

The Chinese distribution system:

A retail mix refers to:

Which of the following is a key strategic decision made by a retailer?

When Austin saw pastries and coffee being sold at his local bookstore,he knew it was an example of _____.

Dailies is a large retail chain in New Jersey.Apart from selling to customers,Dailies supplies bread and vegetables to a large number of restaurants in and around New Jersey.Therefore,Dailies is engaged in _____ when selling to restaurants.

The development of information systems is one the forces facilitating the growth of large retail firms.

How does scrambled merchandising impact retail competition?

As the owner of Knights,a store specializing in men's suits,Isabella can use a retail strategy statement to identify all of the following EXCEPT:

Which of the following is a critical asset that enables retailers to build strategic advantages?

Types of Retailers

Multichannel Retailing

Customer Buying Behavior

Retail Market Strategy

Financial Strategy

Retail Locations

Retail Site Location

Human Resource Management

Information Systems and Supply Chain Management

Customer Relationship Management

Managing the Merchandise Planning Process

Buying Merchandise

Retail Pricing

Retail Communication Mix

Managing the Store

Store Layout, Design, and Visual Merchandising

Customer Service

Filters