Question 1

A chef wants to open a Chinese restaurant in the suburbs of a large city.How should she identify the competition?

Accepted Answer

This question can have a variety of responses,but she could first look at the obvious and identify other Chinese restaurants near her location.Is her location the best? She should consider frozen Chinese entrees at nearby grocery stores.She should also consider the prices of the entrees she offers and compare them to the prices of other types of restaurants.

Question 2

What is the retailer's role in the distribution channel?

Accepted Answer

The retailer's role in the distribution channel is to link manufacturers to consumers by directing their efforts to satisfying the needs of the ultimate consumers.

Question 3

Prior Snowboards located in Whistler,B.C.manufactures many of the snowboards it sells in its retail outlet at its own factory in Canada.Prior Snowboards is practicing:

Accepted Answer

A) demographic marketing 
B) globalization 
C) product-related marketing 
D) vertical integration 
E) wholesaling 
A) demographic marketing 
B) globalization 
C) product-related marketing 
D) vertical integration 
E) wholesaling D

Question 4

Target and the Walmart are _________ (type of)competitors.

Accepted Answer

The answer of Target and the Walmart are _________ (type...

Question 5

Which of the following would be considered a retailer?

Accepted Answer

A)  A radio talk show 
B)  A university 
C)  The Better Business Bureau 
D)  The Red Cross 
E)  All of these 
A)  A radio talk show 
B)  A university 
C)  The Better Business Bureau 
D)  The Red Cross 
E)  All of these

Question 6

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

Accepted Answer

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

Question 7

Which of the following statements about location strategy is true?

Accepted Answer

A)  Location is the second most important characteristic that consumers examine when selecting a store 
B)  Location offers an opportunity to gain a long-term advantage over competitors 
C)  Consumers do not use convenience as a basis for selecting where to shop 
D)  Location can never be used to gain any kind of long-term advantage over competitors due to retailing's low entry barriers 
E)  The only two characteristics more important than location in the selection process of where to shop are price and sales promotions 
A)  Location is the second most important characteristic that consumers examine when selecting a store 
B)  Location offers an opportunity to gain a long-term advantage over competitors 
C)  Consumers do not use convenience as a basis for selecting where to shop 
D)  Location can never be used to gain any kind of long-term advantage over competitors due to retailing's low entry barriers 
E)  The only two characteristics more important than location in the selection process of where to shop are price and sales promotions

Question 8

Once a well-articulated retail strategy has been developed,the next step is to:

Accepted Answer

A)  override the control mechanism 
B)  evaluate the results of the strategy 
C)  forecast future environmental trends 
D)  implement the strategy 
E)  confirm that environmental conditions have not changed 
A)  override the control mechanism 
B)  evaluate the results of the strategy 
C)  forecast future environmental trends 
D)  implement the strategy 
E)  confirm that environmental conditions have not changed

Question 9

Providing assortments is an advantageous business activity because it:

Accepted Answer

A)  enables the company to create a more informational and entertaining environment which would promote more sales 
B)  enables the company to reinvest savings 
C)  enables the customer to choose from a wide selection of brands, designs, sizes, and prices all in one store 
D)  enables the customer to save money by being able to shop in one store 
E)  enables the customer to stock up on the assortments because of their availability 
A)  enables the company to create a more informational and entertaining environment which would promote more sales 
B)  enables the company to reinvest savings 
C)  enables the customer to choose from a wide selection of brands, designs, sizes, and prices all in one store 
D)  enables the customer to save money by being able to shop in one store 
E)  enables the customer to stock up on the assortments because of their availability

Question 10

What is Variety?

Accepted Answer

A)  Variety is the number of different merchandise categories within a store 
B)  Variety is the number of different SKU's within a merchandise category 
C)  Variety is the number of different items in a category 
D)  Variety is another term for scrambled merchandising 
E)  Variety is the number of different facets of the business plan 
A)  Variety is the number of different merchandise categories within a store 
B)  Variety is the number of different SKU's within a merchandise category 
C)  Variety is the number of different items in a category 
D)  Variety is another term for scrambled merchandising 
E)  Variety is the number of different facets of the business plan

Question 11

Retailers are the final business in a distribution channel that link manufacturers to _______.

Accepted Answer

The answer of Retailers are the final business in a...

Question 12

______________ is when a firm performs more than one set of activities in the channel.

Accepted Answer

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

Question 13

Consumers shop through multiple channels that include all of the following except:

Accepted Answer

A)  Tablets 
B)  Computers 
C)  Web-enabled kiosks 
D)  Retail stores 
E)  Federal Express 
A)  Tablets 
B)  Computers 
C)  Web-enabled kiosks 
D)  Retail stores 
E)  Federal Express

Question 14

Chapters stores sell Godiva chocolates.By selling such products,Chapters is:

Accepted Answer

A)  offering a good merchandise mix 
B)  offering what the market demands 
C)  offering deep product assortments 
D)  practicing intratype competition 
E)  practicing scrambled merchandising 
A)  offering a good merchandise mix 
B)  offering what the market demands 
C)  offering deep product assortments 
D)  practicing intratype competition 
E)  practicing scrambled merchandising

Question 15

As part of a retailing strategy,a retailer looks to changes in demographics and responds to these changes with their retail mix.The following are examples of demographic trends except:

Accepted Answer

A)  the growth of the elderly population 
B)  the increased emphasis on customer service 
C)  the growth of minority segments 
D)  the rising number of two-income families 
E)  the retirement of the Baby Boomers 
A)  the growth of the elderly population 
B)  the increased emphasis on customer service 
C)  the growth of minority segments 
D)  the rising number of two-income families 
E)  the retirement of the Baby Boomers

Question 16

When a retailer like Roots designs merchandise as well as sells the merchandise,_________ is occurring.

Accepted Answer

vertical i

Question 17

The key strategic elements of the retail strategy are:

Accepted Answer

A)  financial strategies 
B)  organizational structures 
C)  location strategies 
D)  market strategies 
E)  all of these 
A)  financial strategies 
B)  organizational structures 
C)  location strategies 
D)  market strategies 
E)  all of these

Question 18

What is retailing?

Accepted Answer

A)  It is the set of business activities that adds value to the products and services sold to consumers for their personal or family use 
B)  It is the merchandising component of the retail mix 
C)  It is the strategy retailers and vendors use to get products into the stores 
D)  It is the process of offering products in smaller quantities for consumer consumption patterns 
E)  It is the ability to offer enough variety in a store to encourage one-stop shopping 
A)  It is the set of business activities that adds value to the products and services sold to consumers for their personal or family use 
B)  It is the merchandising component of the retail mix 
C)  It is the strategy retailers and vendors use to get products into the stores 
D)  It is the process of offering products in smaller quantities for consumer consumption patterns 
E)  It is the ability to offer enough variety in a store to encourage one-stop shopping

Question 19

Which of the following statements about retailers holding inventory is false?

Accepted Answer

A)  By having inventory held in the store, consumers can hold less merchandise at home 
B)  By holding inventory, retailers can decrease the visual merchandising expenditure 
C)  Holding inventory in a store helps serve the customer's needs 
D)  Retailers keep inventory so that products are available when consumers want them 
E)  Holding inventory reduces consumer's cost of storing products 
A)  By having inventory held in the store, consumers can hold less merchandise at home 
B)  By holding inventory, retailers can decrease the visual merchandising expenditure 
C)  Holding inventory in a store helps serve the customer's needs 
D)  Retailers keep inventory so that products are available when consumers want them 
E)  Holding inventory reduces consumer's cost of storing products

Question 20

When is the intensity of competition between retail stores the greatest?

Accepted Answer

When they are involved in intr

A chef wants to open a Chinese restaurant in the suburbs of a large city.How should she identify the competition?

What is the retailer's role in the distribution channel?

Prior Snowboards located in Whistler,B.C.manufactures many of the snowboards it sells in its retail outlet at its own factory in Canada.Prior Snowboards is practicing:

Target and the Walmart are _________ (type of)competitors.

Which of the following would be considered a retailer?

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

Which of the following statements about location strategy is true?

Once a well-articulated retail strategy has been developed,the next step is to:

Providing assortments is an advantageous business activity because it:

What is Variety?

Retailers are the final business in a distribution channel that link manufacturers to _______.

______________ is when a firm performs more than one set of activities in the channel.

Consumers shop through multiple channels that include all of the following except:

Chapters stores sell Godiva chocolates.By selling such products,Chapters is:

As part of a retailing strategy,a retailer looks to changes in demographics and responds to these changes with their retail mix.The following are examples of demographic trends except:

When a retailer like Roots designs merchandise as well as sells the merchandise,_________ is occurring.

The key strategic elements of the retail strategy are:

What is retailing?

Which of the following statements about retailers holding inventory is false?

When is the intensity of competition between retail stores the greatest?

Types of Retailers

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 1: Introduction to the World of Retailing

A chef wants to open a Chinese restaurant in the suburbs of a large city.How should she identify the competition?

What is the retailer's role in the distribution channel?

Prior Snowboards located in Whistler,B.C.manufactures many of the snowboards it sells in its retail outlet at its own factory in Canada.Prior Snowboards is practicing:

Target and the Walmart are _________ (type of)competitors.

Which of the following would be considered a retailer?

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

Which of the following statements about location strategy is true?

Once a well-articulated retail strategy has been developed,the next step is to:

Providing assortments is an advantageous business activity because it:

What is Variety?

Retailers are the final business in a distribution channel that link manufacturers to _______.

______________ is when a firm performs more than one set of activities in the channel.

Consumers shop through multiple channels that include all of the following except:

Chapters stores sell Godiva chocolates.By selling such products,Chapters is:

As part of a retailing strategy,a retailer looks to changes in demographics and responds to these changes with their retail mix.The following are examples of demographic trends except:

When a retailer like Roots designs merchandise as well as sells the merchandise,_________ is occurring.

The key strategic elements of the retail strategy are:

What is retailing?

Which of the following statements about retailers holding inventory is false?

When is the intensity of competition between retail stores the greatest?

Types of Retailers

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