Question 1

Drycleaners,hair salons,and auto repair businesses are considered retailers.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following is true of retailing activities in the BoP market?

Accepted Answer

A)  Retrofitting business models used in the more developed markets has proven successful. 
B)  Most people in BoP markets live in rural areas with limited access to mass media. 
C)  The ideas used in BoP retail marketing are similar to conventional retailing strategies. 
D)  High local demand results in low prices for consumer goods. 
A)  Retrofitting business models used in the more developed markets has proven successful. 
B)  Most people in BoP markets live in rural areas with limited access to mass media. 
C)  The ideas used in BoP retail marketing are similar to conventional retailing strategies. 
D)  High local demand results in low prices for consumer goods.

Question 3

A company in the first stage of incorporating corporate social responsibility (CSR)into its strategies:

Accepted Answer

A)  only engages in CSR activities that are required of it by law. 
B)  engages in CSR activities that provide a short-term financial benefit. 
C)  engages in CSR activities because they believe it is the right thing to do. 
D)  engages in CSR activities for the well-being of everyone. 
A)  only engages in CSR activities that are required of it by law. 
B)  engages in CSR activities that provide a short-term financial benefit. 
C)  engages in CSR activities because they believe it is the right thing to do. 
D)  engages in CSR activities for the well-being of everyone.

Question 4

Retailing offers entrepreneurial opportunities.

Accepted Answer

A) True 
 B)False

Question 5

When developing the _____ for his salon,Theo decided to obtain a long-term competitive advantage over other salons by offering longer hours,better prices,a well-trained staff,and a perm for half-price every Wednesday to attract customers.

Accepted Answer

A)  selling concept 
B)  business cycle 
C)  retail strategy 
D)  focal point orientation 
E)  marketing concept 
A)  selling concept 
B)  business cycle 
C)  retail strategy 
D)  focal point orientation 
E)  marketing concept

Question 6

Which of the following value-creating activities has retailers offering products in quantities tailored to customers' consumption patterns?

Accepted Answer

A)  Providing assortments 
B)  Breaking bulk 
C)  Add-on selling 
D)  Holding inventory 
E)  Scrambled merchandising 
A)  Providing assortments 
B)  Breaking bulk 
C)  Add-on selling 
D)  Holding inventory 
E)  Scrambled merchandising

Question 7

The offering of merchandise not typically associated with the store type is called:

Accepted Answer

A)  scrambled merchandising. 
B)  intratype competition. 
C)  product diversification. 
D)  channel diversification. 
E)  vertical differentiation. 
A)  scrambled merchandising. 
B)  intratype competition. 
C)  product diversification. 
D)  channel diversification. 
E)  vertical differentiation.

Question 8

Florals is a popular retail chain specializing in women's lingerie and perfume.It designs the merchandise being sold in the store.Therefore,Florals is practicing _____.

Accepted Answer

A)  channel expansion 
B)  scrambled merchandising 
C)  backward integration 
D)  horizontal integration 
E)  product diversification 
A)  channel expansion 
B)  scrambled merchandising 
C)  backward integration 
D)  horizontal integration 
E)  product diversification

Question 9

Why do retailers hire people with varied expertise and interests?

Accepted Answer

Retailers are businesses and,like manufa

Question 10

Which of the following statements about the U.S.distribution system is TRUE?

Accepted Answer

A)  The U.S.retail industry is mostly composed of many small and medium-sized firms. 
B)  Many U.S.retailers are large enough to have their own warehouses. 
C)  The retail density in the U.S.is lower than that found in Europe. 
D)  A large independent wholesale industry supplies goods to all retailers. 
E)  The U.S.retail industry has a fragmented distribution system. 
A)  The U.S.retail industry is mostly composed of many small and medium-sized firms. 
B)  Many U.S.retailers are large enough to have their own warehouses. 
C)  The retail density in the U.S.is lower than that found in Europe. 
D)  A large independent wholesale industry supplies goods to all retailers. 
E)  The U.S.retail industry has a fragmented distribution system.

Question 11

Shades n Hues is a company producing cosmetics.It supplies products to stores and beauty salons and also manages its own retail outlets.Therefore,Shades n Hues is engaged in _____.

Accepted Answer

A)  forward integration 
B)  scrambled merchandising 
C)  backward integration 
D)  horizontal integration 
E)  cross-selling 
A)  forward integration 
B)  scrambled merchandising 
C)  backward integration 
D)  horizontal integration 
E)  cross-selling

Question 12

A major value-providing activity performed by retailers is _____,so that products will be available when consumers want them.

Accepted Answer

A)  breaking bulk 
B)  holding inventory 
C)  scrambled merchandising 
D)  backward integration 
E)  providing assortments 
A)  breaking bulk 
B)  holding inventory 
C)  scrambled merchandising 
D)  backward integration 
E)  providing assortments

Question 13

Darius Foods Inc.and Winston Foods and Beverages Inc.are competitors selling frozen meals.Darius sells its products through a large number of local convenience stores,while Winston sells its frozen meals through delis.Which form of competition is seen between these two firms?

Accepted Answer

A)  Intertype competition 
B)  Indirect competition 
C)  Intratype competition 
D)  Scrambled merchandising 
E)  Intrinsic competition 
A)  Intertype competition 
B)  Indirect competition 
C)  Intratype competition 
D)  Scrambled merchandising 
E)  Intrinsic competition

Question 14

Which of the following is NOT an element in the retail mix?

Accepted Answer

A)  Competitive response 
B)  Merchandise pricing 
C)  Location 
D)  Customer service 
E)  Advertising and promotion 
A)  Competitive response 
B)  Merchandise pricing 
C)  Location 
D)  Customer service 
E)  Advertising and promotion

Question 15

Large retailers had distinct advantages over regional retailers prior to the availability of modern information systems.

Accepted Answer

A) True 
 B)False

Question 16

Essentials,a retail store,manages its own warehouse.It also owns a manufacturing facility where it produces private-label food products.Therefore,Essentials is practicing _____.

Accepted Answer

A)  scrambled merchandising 
B)  backward integration 
C)  cross-selling 
D)  horizontal integration 
E)  forward integration 
A)  scrambled merchandising 
B)  backward integration 
C)  cross-selling 
D)  horizontal integration 
E)  forward integration

Question 17

Daily Needs and Smart Saves are two large retailers in Canada.They compete with each other using similar marketing strategies.Which form of competition is seen between these two retailers?

Accepted Answer

A)  Intertype competition 
B)  Indirect competition 
C)  Intratype competition 
D)  Scrambled merchandising 
E)  Intrinsic competition 
A)  Intertype competition 
B)  Indirect competition 
C)  Intratype competition 
D)  Scrambled merchandising 
E)  Intrinsic competition

Question 18

With regard to customers,which aspects do retailers need to consider when developing a retail strategy?

Accepted Answer

Retailers must respond to broad demograp

Question 19

Companies are totally convinced about the importance of corporate social responsibility (CSR)during the initial stages of CSR integration.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following statements is true of ethical principles?

Accepted Answer

A)  Ethical principles can change over time. 
B)  Ethics remain the same irrespective of the country or industry. 
C)  Most people have common views on ethical and unethical practices. 
D)  The personal code of ethics does not play a role in business decisions. 
E)  Ethical principles are often easy to determine. 
A)  Ethical principles can change over time. 
B)  Ethics remain the same irrespective of the country or industry. 
C)  Most people have common views on ethical and unethical practices. 
D)  The personal code of ethics does not play a role in business decisions. 
E)  Ethical principles are often easy to determine.

Drycleaners,hair salons,and auto repair businesses are considered retailers.

Which of the following is true of retailing activities in the BoP market?

A company in the first stage of incorporating corporate social responsibility (CSR)into its strategies:

Retailing offers entrepreneurial opportunities.

When developing the _____ for his salon,Theo decided to obtain a long-term competitive advantage over other salons by offering longer hours,better prices,a well-trained staff,and a perm for half-price every Wednesday to attract customers.

Which of the following value-creating activities has retailers offering products in quantities tailored to customers' consumption patterns?

The offering of merchandise not typically associated with the store type is called:

Florals is a popular retail chain specializing in women's lingerie and perfume.It designs the merchandise being sold in the store.Therefore,Florals is practicing _____.

Why do retailers hire people with varied expertise and interests?

Which of the following statements about the U.S.distribution system is TRUE?

Shades n Hues is a company producing cosmetics.It supplies products to stores and beauty salons and also manages its own retail outlets.Therefore,Shades n Hues is engaged in _____.

A major value-providing activity performed by retailers is _____,so that products will be available when consumers want them.

Darius Foods Inc.and Winston Foods and Beverages Inc.are competitors selling frozen meals.Darius sells its products through a large number of local convenience stores,while Winston sells its frozen meals through delis.Which form of competition is seen between these two firms?

Which of the following is NOT an element in the retail mix?

Large retailers had distinct advantages over regional retailers prior to the availability of modern information systems.

Essentials,a retail store,manages its own warehouse.It also owns a manufacturing facility where it produces private-label food products.Therefore,Essentials is practicing _____.

Daily Needs and Smart Saves are two large retailers in Canada.They compete with each other using similar marketing strategies.Which form of competition is seen between these two retailers?

With regard to customers,which aspects do retailers need to consider when developing a retail strategy?

Companies are totally convinced about the importance of corporate social responsibility (CSR)during the initial stages of CSR integration.

Which of the following statements is true of ethical principles?

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

Drycleaners,hair salons,and auto repair businesses are considered retailers.

Which of the following is true of retailing activities in the BoP market?

A company in the first stage of incorporating corporate social responsibility (CSR)into its strategies:

Retailing offers entrepreneurial opportunities.

When developing the _____ for his salon,Theo decided to obtain a long-term competitive advantage over other salons by offering longer hours,better prices,a well-trained staff,and a perm for half-price every Wednesday to attract customers.

Which of the following value-creating activities has retailers offering products in quantities tailored to customers' consumption patterns?

The offering of merchandise not typically associated with the store type is called:

Florals is a popular retail chain specializing in women's lingerie and perfume.It designs the merchandise being sold in the store.Therefore,Florals is practicing _____.

Why do retailers hire people with varied expertise and interests?

Which of the following statements about the U.S.distribution system is TRUE?

Shades n Hues is a company producing cosmetics.It supplies products to stores and beauty salons and also manages its own retail outlets.Therefore,Shades n Hues is engaged in _____.

A major value-providing activity performed by retailers is _____,so that products will be available when consumers want them.

Darius Foods Inc.and Winston Foods and Beverages Inc.are competitors selling frozen meals.Darius sells its products through a large number of local convenience stores,while Winston sells its frozen meals through delis.Which form of competition is seen between these two firms?

Which of the following is NOT an element in the retail mix?

Large retailers had distinct advantages over regional retailers prior to the availability of modern information systems.

Essentials,a retail store,manages its own warehouse.It also owns a manufacturing facility where it produces private-label food products.Therefore,Essentials is practicing _____.

Daily Needs and Smart Saves are two large retailers in Canada.They compete with each other using similar marketing strategies.Which form of competition is seen between these two retailers?

With regard to customers,which aspects do retailers need to consider when developing a retail strategy?

Companies are totally convinced about the importance of corporate social responsibility (CSR)during the initial stages of CSR integration.

Which of the following statements is true of ethical principles?

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