Question 1

The most common purchases from vending machines are:

Accepted Answer

A)  ice 
B)  airplane insurance 
C)  condoms 
D)  beverages and snack food 
E)  cigarettes 
A)  ice 
B)  airplane insurance 
C)  condoms 
D)  beverages and snack food 
E)  cigarettes

Question 2

Margaret went to the mall on her lunch hour.While she was there,she witnessed a back-to-school fashion show in Target,saw an old friend,took a walk and watched the children play in the centre arena.What benefit of store shopping was Margaret enjoying?

Accepted Answer

A)  Detailed information 
B)  Convenience 
C)  Entertainment and social interaction 
D)  Personal service 
E)  Touch and feel products 
A)  Detailed information 
B)  Convenience 
C)  Entertainment and social interaction 
D)  Personal service 
E)  Touch and feel products

Question 3

The main difference between direct-mail retailers and catalogue retailers is that direct-mail retailers are:

Accepted Answer

A)  businesses that have low start-up costs 
B)  consistent with catalogue retailers in that they maintain long-term relationships 
C)  highly involved in database management 
D)  primarily interested in a single sale from a specific mailing while catalogue retailers maintain relationships with customers over time 
E)  usually considered junk mail and are discarded 
A)  businesses that have low start-up costs 
B)  consistent with catalogue retailers in that they maintain long-term relationships 
C)  highly involved in database management 
D)  primarily interested in a single sale from a specific mailing while catalogue retailers maintain relationships with customers over time 
E)  usually considered junk mail and are discarded

Question 4

Last March Julie went shopping at a _____ and found leather coats for $45,name-brand tubes of lipstick for $1,and 10 cans of cat food for $2.00.When she returned this week,there was no lipstick or cat food,but she did find a 10-gallon aquarium for $8.00 and a plastic lawn chairs for $12.

Accepted Answer

A)  factory outlet 
B)  specialty price store 
C)  closeout retailer 
D)  warehouse retailer 
E)  wholesaler outlet 
A)  factory outlet 
B)  specialty price store 
C)  closeout retailer 
D)  warehouse retailer 
E)  wholesaler outlet

Question 5

Al is the office manager for a large travel agency.He is responsible for maintaining the office supplies and works within a budget.This month,he needs to restock the agency's #10 envelopes,ball-point pens,coffee,sweetener and plastic spoons.Where's the best place for him to shop?

Accepted Answer

A)  Loblaws 
B)  Office Depot 
C)  Costco 
D)  7-Eleven 
E)  Zellers 
A)  Loblaws 
B)  Office Depot 
C)  Costco 
D)  7-Eleven 
E)  Zellers

Question 6

A company operating multiple retail units under common ownership and usually has centralized decision making for defining and implementing its strategy is called a:

Accepted Answer

A)  franchise 
B)  full-line discount stores 
C)  retail chain 
D)  single-store establishment 
E)  wholesale-sponsored voluntary cooperative group 
A)  franchise 
B)  full-line discount stores 
C)  retail chain 
D)  single-store establishment 
E)  wholesale-sponsored voluntary cooperative group

Question 7

A multichannel retailer is one that:

Accepted Answer

A)  works with other retailers who are in the channel 
B)  channels all assortments through the stores 
C)  sells merchandise or services through more than one channel 
D)  buys merchandise from multiple channels to sell in the stores 
E)  is a combination of single-channel retailers 
A)  works with other retailers who are in the channel 
B)  channels all assortments through the stores 
C)  sells merchandise or services through more than one channel 
D)  buys merchandise from multiple channels to sell in the stores 
E)  is a combination of single-channel retailers

Question 8

Category specialists in direct competition with each other typically compete on the basis of:

Accepted Answer

A)  advertising 
B)  in-store promotions 
C)  distribution strategies 
D)  product variety and assortment 
E)  cost of goods/retail price 
A)  advertising 
B)  in-store promotions 
C)  distribution strategies 
D)  product variety and assortment 
E)  cost of goods/retail price

Question 9

Depth of merchandise is often referred to as the:

Accepted Answer

A)  variety 
B)  complete retail offering 
C)  number of items within each product line 
D)  object of the buy 
E)  retail mix 
A)  variety 
B)  complete retail offering 
C)  number of items within each product line 
D)  object of the buy 
E)  retail mix

Question 10

Which of the following retailers is the best example of a multichannel retailer?

Accepted Answer

A)  Susan and Michael's Hair Salon 
B)  eBay 
C)  Sears 
D)  The Keg restaurant 
E)  7-Eleven convenience stores 
A)  Susan and Michael's Hair Salon 
B)  eBay 
C)  Sears 
D)  The Keg restaurant 
E)  7-Eleven convenience stores

Question 11

Which of the following statements about warehouse clubs is true?

Accepted Answer

A)  Warehouse clubs only sell to ultimate consumers. 
B)  Warehouse clubs have a category specialist format. 
C)  Warehouse clubs typically have high inventory holding costs. 
D)  Warehouse clubs have simple interiors and concrete floors. 
E)  Warehouse clubs have extensive merchandise depth. 
A)  Warehouse clubs only sell to ultimate consumers. 
B)  Warehouse clubs have a category specialist format. 
C)  Warehouse clubs typically have high inventory holding costs. 
D)  Warehouse clubs have simple interiors and concrete floors. 
E)  Warehouse clubs have extensive merchandise depth.

Question 12

How do retailers adjust their pricing strategy because of the competition they face in different channels?

Accepted Answer

They may offer diffe

Question 13

Why do movie theatres sell tickets for an afternoon showing at a lower price than the 7 p.m.showing of the same movie?

Accepted Answer

A)  To deal with the incompatibility characteristic of services 
B)  To make sure the service offered in consistent 
C)  To deal with the intangible characteristic of services 
D)  To deal with the perishability of services 
E)  To minimize inventory losses 
A)  To deal with the incompatibility characteristic of services 
B)  To make sure the service offered in consistent 
C)  To deal with the intangible characteristic of services 
D)  To deal with the perishability of services 
E)  To minimize inventory losses

Question 14

Rona and Home Depot are both category specialists for the home improvement industry.This means the stores:

Accepted Answer

A)  offer their customers narrow breadth and depth 
B)  use quick-response inventory management systems 
C)  have excellent after-the-sale service 
D)  appeal to the mature consumers 
E)  offer a narrow but deep assortment of merchandise 
A)  offer their customers narrow breadth and depth 
B)  use quick-response inventory management systems 
C)  have excellent after-the-sale service 
D)  appeal to the mature consumers 
E)  offer a narrow but deep assortment of merchandise

Question 15

Multichannel retailers:

Accepted Answer

A)  want to encourage channel migration 
B)  should avoid offering uniquely relevant information based on proprietary data that the retailer has collected about their customers 
C)  should consider promoting private-label or exclusive merchandise that can be purchased only from them 
D)  want to encourage consumers' collecting information about products and pricing on their channels and then buying the product from a competitor 
E)  cannot respond to the challenge of differences in local competition 
A)  want to encourage channel migration 
B)  should avoid offering uniquely relevant information based on proprietary data that the retailer has collected about their customers 
C)  should consider promoting private-label or exclusive merchandise that can be purchased only from them 
D)  want to encourage consumers' collecting information about products and pricing on their channels and then buying the product from a competitor 
E)  cannot respond to the challenge of differences in local competition

Question 16

Category specialists are sometimes called category killers because they:

Accepted Answer

A)  can destroy a category of merchandise for other retailers. 
B)  are located at stand-alone sites. 
C)  have a broad merchandise mix and shallow assortment. 
D)  are often located in dying shopping malls. 
E)  carry mainly technologically obsolete merchandise. 
A)  can destroy a category of merchandise for other retailers. 
B)  are located at stand-alone sites. 
C)  have a broad merchandise mix and shallow assortment. 
D)  are often located in dying shopping malls. 
E)  carry mainly technologically obsolete merchandise.

Question 17

What is one way a convenience store can develop a sustainable advantage against competition?

Accepted Answer

A)  Close less convenient locations 
B)  Extend hours of operation 
C)  Nothing: convenience stores are becoming extinct 
D)  Open more stores 
E)  Sell prepared meals 
A)  Close less convenient locations 
B)  Extend hours of operation 
C)  Nothing: convenience stores are becoming extinct 
D)  Open more stores 
E)  Sell prepared meals

Question 18

Due to the _____ of services,service retailers like Disney,Famous Players,and Air Canada sometimes find it difficult to match supply and demand.

Accepted Answer

A)  intangibility 
B)  perishability 
C)  inconsistency 
D)  consumability 
E)  compatibility 
A)  intangibility 
B)  perishability 
C)  inconsistency 
D)  consumability 
E)  compatibility

Question 19

Off-price retailers:

Accepted Answer

A)  offer a consistent assortment of soft goods at low prices. 
B)  give cash refunds. 
C)  offer gift wrapping services. 
D)  sell brand-name and even designer-label merchandise at reduced prices. 
E)  require suppliers to give them a variety of allowances and discounts. 
A)  offer a consistent assortment of soft goods at low prices. 
B)  give cash refunds. 
C)  offer gift wrapping services. 
D)  sell brand-name and even designer-label merchandise at reduced prices. 
E)  require suppliers to give them a variety of allowances and discounts.

Question 20

Where are most direct sales made?

Accepted Answer

A)  Via a computer connection 
B)  At street festivals and craft shows 
C)  Over the phone 
D)  On the job site 
E)  Face-to-face, in a home 
A)  Via a computer connection 
B)  At street festivals and craft shows 
C)  Over the phone 
D)  On the job site 
E)  Face-to-face, in a home

The most common purchases from vending machines are:

Margaret went to the mall on her lunch hour.While she was there,she witnessed a back-to-school fashion show in Target,saw an old friend,took a walk and watched the children play in the centre arena.What benefit of store shopping was Margaret enjoying?

The main difference between direct-mail retailers and catalogue retailers is that direct-mail retailers are:

Last March Julie went shopping at a _____ and found leather coats for $45,name-brand tubes of lipstick for $1,and 10 cans of cat food for $2.00.When she returned this week,there was no lipstick or cat food,but she did find a 10-gallon aquarium for $8.00 and a plastic lawn chairs for $12.

Al is the office manager for a large travel agency.He is responsible for maintaining the office supplies and works within a budget.This month,he needs to restock the agency's #10 envelopes,ball-point pens,coffee,sweetener and plastic spoons.Where's the best place for him to shop?

A company operating multiple retail units under common ownership and usually has centralized decision making for defining and implementing its strategy is called a:

A multichannel retailer is one that:

Category specialists in direct competition with each other typically compete on the basis of:

Depth of merchandise is often referred to as the:

Which of the following retailers is the best example of a multichannel retailer?

Which of the following statements about warehouse clubs is true?

How do retailers adjust their pricing strategy because of the competition they face in different channels?

Why do movie theatres sell tickets for an afternoon showing at a lower price than the 7 p.m.showing of the same movie?

Rona and Home Depot are both category specialists for the home improvement industry.This means the stores:

Multichannel retailers:

Category specialists are sometimes called category killers because they:

What is one way a convenience store can develop a sustainable advantage against competition?

Due to the _____ of services,service retailers like Disney,Famous Players,and Air Canada sometimes find it difficult to match supply and demand.

Off-price retailers:

Where are most direct sales made?

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

The most common purchases from vending machines are:

Margaret went to the mall on her lunch hour.While she was there,she witnessed a back-to-school fashion show in Target,saw an old friend,took a walk and watched the children play in the centre arena.What benefit of store shopping was Margaret enjoying?

The main difference between direct-mail retailers and catalogue retailers is that direct-mail retailers are:

Last March Julie went shopping at a _____ and found leather coats for $45,name-brand tubes of lipstick for $1,and 10 cans of cat food for $2.00.When she returned this week,there was no lipstick or cat food,but she did find a 10-gallon aquarium for $8.00 and a plastic lawn chairs for $12.

Al is the office manager for a large travel agency.He is responsible for maintaining the office supplies and works within a budget.This month,he needs to restock the agency's #10 envelopes,ball-point pens,coffee,sweetener and plastic spoons.Where's the best place for him to shop?

A company operating multiple retail units under common ownership and usually has centralized decision making for defining and implementing its strategy is called a:

A multichannel retailer is one that:

Category specialists in direct competition with each other typically compete on the basis of:

Depth of merchandise is often referred to as the:

Which of the following retailers is the best example of a multichannel retailer?

Which of the following statements about warehouse clubs is true?

How do retailers adjust their pricing strategy because of the competition they face in different channels?

Why do movie theatres sell tickets for an afternoon showing at a lower price than the 7 p.m.showing of the same movie?

Rona and Home Depot are both category specialists for the home improvement industry.This means the stores:

Multichannel retailers:

Category specialists are sometimes called category killers because they:

What is one way a convenience store can develop a sustainable advantage against competition?

Due to the _____ of services,service retailers like Disney,Famous Players,and Air Canada sometimes find it difficult to match supply and demand.

Off-price retailers:

Where are most direct sales made?

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