Question 1

____________ are specialty stores that concentrate on health and personal grooming merchandise.

Accepted Answer

Drugstores

Question 2

Differentiate between breadth of merchandise and depth of merchandise.

Accepted Answer

Breadth of merchandise refers to the number of different merchandise categories a retailer offers.Depth of merchandise refers to the number of different items in a merchandise category.

Question 3

What are three issues retailers face when they want to integrate across multiple channels?

Accepted Answer

Centralized customer database,consistent brand image,merchandise assortment and pricing.

Question 4

Typically,large retail chains:

Accepted Answer

A)  are completely decentralized 
B)  encourage their store managers to be flexible and creative 
C)  have efficient distribution systems 
D)  have lower total fixed costs than other forms of ownership 
E)  are very flexible in their responses to the unique needs of their local markets 
A)  are completely decentralized 
B)  encourage their store managers to be flexible and creative 
C)  have efficient distribution systems 
D)  have lower total fixed costs than other forms of ownership 
E)  are very flexible in their responses to the unique needs of their local markets

Question 5

The two types of off-price retailers are:

Accepted Answer

A)  outlet and closeout stores 
B)  value retailers and closeout stores 
C)  closeout and value stores 
D)  warehouse clubs and closeout stores 
E)  outlet stores and warehouse clubs 
A)  outlet and closeout stores 
B)  value retailers and closeout stores 
C)  closeout and value stores 
D)  warehouse clubs and closeout stores 
E)  outlet stores and warehouse clubs

Question 6

When multilevel direct selling becomes a pyramid scheme:

Accepted Answer

A)  typical annual sales of products often double 
B)  the salespeople are no longer independent agents 
C)  little merchandise is sold to end users 
D)  the selling format is usually franchised 
E)  the use of the party plan becomes more commonplace 
A)  typical annual sales of products often double 
B)  the salespeople are no longer independent agents 
C)  little merchandise is sold to end users 
D)  the selling format is usually franchised 
E)  the use of the party plan becomes more commonplace

Question 7

How can a service retailer best cope with the problems associated with the inconsistency of service?

Accepted Answer

A)  Use low prices during off-seasons to help match supply and demand. 
B)  Use mass production. 
C)  Emphasize quality control. 
D)  Train, manage, and motivate service providers. 
E)  Increase staffing at peak demand times. 
A)  Use low prices during off-seasons to help match supply and demand. 
B)  Use mass production. 
C)  Emphasize quality control. 
D)  Train, manage, and motivate service providers. 
E)  Increase staffing at peak demand times.

Question 8

The retail format in which the retailers communicate with customers and offer products and services for sale over the Internet is called:

Accepted Answer

A)  catalogue retailing 
B)  computerized shopping 
C)  direct selling 
D)  electronic retailing 
E)  television home shopping 
A)  catalogue retailing 
B)  computerized shopping 
C)  direct selling 
D)  electronic retailing 
E)  television home shopping

Question 9

To respond to a competitive environment,discount retailers are fighting back by:

Accepted Answer

A)  developing more private-label merchandise programs 
B)  focusing on promotional pricing rather than the traditional EDLP strategy 
C)  increasing assortments 
D)  offering better customer service on the floor 
E)  reducing prices below wholesale 
A)  developing more private-label merchandise programs 
B)  focusing on promotional pricing rather than the traditional EDLP strategy 
C)  increasing assortments 
D)  offering better customer service on the floor 
E)  reducing prices below wholesale

Question 10

The Home Depot offers customers a huge selection of home improvement merchandise.As a result inventory investment:

Accepted Answer

A)  increases because of the increase in demand in the home improvement industry 
B)  increases because they have to carry backup stock for each SKU 
C)  increases because of the value of the assortment 
D)  decreases because of the increase of the customer base 
E)  decreases because of the introduction of backup stock 
A)  increases because of the increase in demand in the home improvement industry 
B)  increases because they have to carry backup stock for each SKU 
C)  increases because of the value of the assortment 
D)  decreases because of the increase of the customer base 
E)  decreases because of the introduction of backup stock

Question 11

Which of the following is not a benefit of retail store channel shopping?

Accepted Answer

A)  Browsing 
B)  Cash payment 
C)  Personal service 
D)  Personal safety 
E)  Touch and feel products 
A)  Browsing 
B)  Cash payment 
C)  Personal service 
D)  Personal safety 
E)  Touch and feel products

Question 12

Category specialists:

Accepted Answer

A)  have little customer service 
B)  are limited to clothing, office supply, pet supplies, and toy retailing 
C)  rely on warranty sales to promote loyalty 
D)  offer a narrow variety but deep assortment of merchandise 
E)  compete directly with off-price retailers 
A)  have little customer service 
B)  are limited to clothing, office supply, pet supplies, and toy retailing 
C)  rely on warranty sales to promote loyalty 
D)  offer a narrow variety but deep assortment of merchandise 
E)  compete directly with off-price retailers

Question 13

H&M uses the philosophy of "disposable chic".This means:

Accepted Answer

A)  Consumers can dispose of their income at H&M 
B)  The product line at H&M is recyclable. 
C)  Its merchandise is so inexpensive it doesn't matter if it goes out of style quickly. 
D)  It has a merchandise agreement with Gillette disposable razors. 
E)  Its merchandise is considered "chic" in Sweden 
A)  Consumers can dispose of their income at H&M 
B)  The product line at H&M is recyclable. 
C)  Its merchandise is so inexpensive it doesn't matter if it goes out of style quickly. 
D)  It has a merchandise agreement with Gillette disposable razors. 
E)  Its merchandise is considered "chic" in Sweden

Question 14

Compared to other food retailers,convenience stores

Accepted Answer

A)  Have higher food prices 
B)  Have a wide breadth and depth of merchandise 
C)  Benefit from the high margins of gasoline sales 
D)  Have less than 30% of their store devoted to food 
E)  Are experiencing slow growth in Asia 
A)  Have higher food prices 
B)  Have a wide breadth and depth of merchandise 
C)  Benefit from the high margins of gasoline sales 
D)  Have less than 30% of their store devoted to food 
E)  Are experiencing slow growth in Asia

Question 15

Specialty stores that concentrate on health and personal grooming merchandise are:

Accepted Answer

A)  closeout retailers 
B)  off-price retailers 
C)  direct-mail retailers 
D)  discount stores 
E)  drugstores 
A)  closeout retailers 
B)  off-price retailers 
C)  direct-mail retailers 
D)  discount stores 
E)  drugstores

Question 16

A hair salon that requires its operators to keep a database on each customer and include in that database what was done on each visit,customer likes and dislikes,and peculiar characteristics of the customer is trying to cope with which service characteristic?

Accepted Answer

The answer of A hair salon that requires its operators...

Question 17

The greater the diversity of retail formats,the greater the:

Accepted Answer

A)  competition in the industry 
B)  level of service provided to customers 
C)  maturation in the domestic market 
D)  price points 
E)  variety within a format 
A)  competition in the industry 
B)  level of service provided to customers 
C)  maturation in the domestic market 
D)  price points 
E)  variety within a format

Question 18

A/An _________________ is a retailer that sells merchandise or services through more than one channel.

Accepted Answer

multichann

Question 19

_________ refers to the number of different items in a merchandise category.

Accepted Answer

Assortment

Question 20

Which of the following is an example of a department store?

Accepted Answer

A)  Chapters 
B)  Future Shop 
C)  Hudson's Bay 
D)  Mark's Work Wearhouse 
E)  Home Hardware 
A)  Chapters 
B)  Future Shop 
C)  Hudson's Bay 
D)  Mark's Work Wearhouse 
E)  Home Hardware

____________ are specialty stores that concentrate on health and personal grooming merchandise.

Differentiate between breadth of merchandise and depth of merchandise.

What are three issues retailers face when they want to integrate across multiple channels?

Typically,large retail chains:

The two types of off-price retailers are:

When multilevel direct selling becomes a pyramid scheme:

How can a service retailer best cope with the problems associated with the inconsistency of service?

The retail format in which the retailers communicate with customers and offer products and services for sale over the Internet is called:

To respond to a competitive environment,discount retailers are fighting back by:

The Home Depot offers customers a huge selection of home improvement merchandise.As a result inventory investment:

Which of the following is not a benefit of retail store channel shopping?

Category specialists:

H&M uses the philosophy of "disposable chic".This means:

Compared to other food retailers,convenience stores

Specialty stores that concentrate on health and personal grooming merchandise are:

A hair salon that requires its operators to keep a database on each customer and include in that database what was done on each visit,customer likes and dislikes,and peculiar characteristics of the customer is trying to cope with which service characteristic?

The greater the diversity of retail formats,the greater the:

A/An _________________ is a retailer that sells merchandise or services through more than one channel.

_________ refers to the number of different items in a merchandise category.

Which of the following is an example of a department store?

Introduction to the World of Retailing

Customer Buying Behaviour

Retail Market Strategy

Retail Locations Strategytrade Area Decisions and Site Assessment

Store Design, layout, and Visual Merchandising Strategy

International Retailing Strategy

Financial Strategy

Information Systems and Supply Chain Management

Merchandise Management

Buying Strategies

Retail Pricing

Human Resource Management and Staff Training Issues

Building Customer Loyalty: Customer Relationship Management and Service Strategies

Appealing to the Customer: Retail Communication Mix

Filters

Exam 2: Types of Retailers

____________ are specialty stores that concentrate on health and personal grooming merchandise.

Differentiate between breadth of merchandise and depth of merchandise.

What are three issues retailers face when they want to integrate across multiple channels?

Typically,large retail chains:

The two types of off-price retailers are:

When multilevel direct selling becomes a pyramid scheme:

How can a service retailer best cope with the problems associated with the inconsistency of service?

The retail format in which the retailers communicate with customers and offer products and services for sale over the Internet is called:

To respond to a competitive environment,discount retailers are fighting back by:

The Home Depot offers customers a huge selection of home improvement merchandise.As a result inventory investment:

Which of the following is not a benefit of retail store channel shopping?

Category specialists:

H&M uses the philosophy of "disposable chic".This means:

Compared to other food retailers,convenience stores

Specialty stores that concentrate on health and personal grooming merchandise are:

A hair salon that requires its operators to keep a database on each customer and include in that database what was done on each visit,customer likes and dislikes,and peculiar characteristics of the customer is trying to cope with which service characteristic?

The greater the diversity of retail formats,the greater the:

A/An _________________ is a retailer that sells merchandise or services through more than one channel.

_________ refers to the number of different items in a merchandise category.

Which of the following is an example of a department store?

Introduction to the World of Retailing

Customer Buying Behaviour

Retail Market Strategy

Retail Locations Strategytrade Area Decisions and Site Assessment

Store Design, layout, and Visual Merchandising Strategy

International Retailing Strategy

Financial Strategy

Information Systems and Supply Chain Management

Merchandise Management

Buying Strategies

Retail Pricing

Human Resource Management and Staff Training Issues

Building Customer Loyalty: Customer Relationship Management and Service Strategies

Appealing to the Customer: Retail Communication Mix

Filters