Question 1

The food-oriented retailer with the greatest width of assortment is the _____.

Accepted Answer

A) conventional supermarket 
B) food-based superstore 
C) combination store 
D) warehouse store 
A) conventional supermarket 
B) food-based superstore 
C) combination store 
D) warehouse store C

Question 2

The retail life cycle stage corresponding to a retail innovator first becoming vulnerable to new discount retailers with a lower cost structure is _____.

Accepted Answer

A) introduction 
B) decline 
C) accelerated development 
D) maturity 
A) introduction 
B) decline 
C) accelerated development 
D) maturity D

Question 3

Which retail theory predicts that innovators will start with a low-cost structure and low profit margin requirements?

Accepted Answer

A) scrambled merchandising 
B) retail life cycle 
C) wheel of retailing 
D) rationalized retailing 
A) scrambled merchandising 
B) retail life cycle 
C) wheel of retailing 
D) rationalized retailing C

Question 4

The beginning of the wheel of retailing (when low-price institutions first appear)corresponds to which retail life cycle stage?

Accepted Answer

A) decline 
B) accelerated development 
C) introduction 
D) maturity 
A) decline 
B) accelerated development 
C) introduction 
D) maturity

Question 5

An appropriate retailer action in the accelerated development stage of the retail life cycle is to establish a pre-emptive market position by leasing ideal locations to lock out competition.

Accepted Answer

A) True 
 B)False

Question 6

The institution with the greatest assortment of any general merchandise retailer is the _____.

Accepted Answer

A) department store 
B) supermarket 
C) full-line discount store 
D) superstore 
A) department store 
B) supermarket 
C) full-line discount store 
D) superstore

Question 7

A department store's product assortment is wider but less deep than a specialty store's.

Accepted Answer

A) True 
 B)False

Question 8

A retailer with high customer loyalty is able to attract shoppers who come from long distances.This retailer is described as a(n)_____.

Accepted Answer

A) destination retailer 
B) parasite retailer 
C) scrambled merchandising retailer 
D) innovator 
A) destination retailer 
B) parasite retailer 
C) scrambled merchandising retailer 
D) innovator

Question 9

Department stores are now facing increased competition from factory outlets,membership clubs,and flea markets.This illustrates _____.

Accepted Answer

A) rationalized retailing 
B) scrambled merchandising 
C) the retail life cycle 
D) the wheel of retailing 
A) rationalized retailing 
B) scrambled merchandising 
C) the retail life cycle 
D) the wheel of retailing

Question 10

Conventional supermarkets,food-based superstores,combination stores,box stores,and warehouse stores are all included in the general definition of a supermarket.

Accepted Answer

A) True 
 B)False

Question 11

A high level of investment is needed to sustain growth during which retail life cycle stage?

Accepted Answer

A) decline 
B) introduction 
C) accelerated development 
D) maturity 
A) decline 
B) introduction 
C) accelerated development 
D) maturity

Question 12

A category killer is a form of destination retailer that focuses its retail strategy on an enormous selection.

Accepted Answer

A) True 
 B)False

Question 13

Which institution can be classified as either a wholesaler or retailer?

Accepted Answer

A) off-price chain 
B) factory outlet 
C) membership club 
D) department store 
A) off-price chain 
B) factory outlet 
C) membership club 
D) department store

Question 14

Which of these is not a basic strategic position according to the wheel-of-retailing theory?

Accepted Answer

A) power position 
B) high-end position 
C) low-end position 
D) medium position 
A) power position 
B) high-end position 
C) low-end position 
D) medium position

Question 15

A department store has the greatest assortment of any general merchandise retailer.

Accepted Answer

A) True 
 B)False

Question 16

The high sales volume at off-price chains,factory outlets,membership clubs,and flea markets can be explained by the retail life cycle.

Accepted Answer

A) True 
 B)False

Question 17

Manufacturers may prefer to sell their closeouts,canceled orders,and out-of-season merchandise to factory outlets rather than off-price chains because _____.

Accepted Answer

A) off-price chains can generate high profit margins 
B) off-price chains have too much power 
C) factory outlets generate low short-term cash flow 
D) greater control results in less disturbance to traditional channels 
A) off-price chains can generate high profit margins 
B) off-price chains have too much power 
C) factory outlets generate low short-term cash flow 
D) greater control results in less disturbance to traditional channels

Question 18

Which retail institutions fit the scrambled merchandising concept?

Accepted Answer

A) warehouse store and conventional supermarket 
B) warehouse store and box (limited-line)store 
C) convenience store and conventional supermarket 
D) combination store and superstore 
A) warehouse store and conventional supermarket 
B) warehouse store and box (limited-line)store 
C) convenience store and conventional supermarket 
D) combination store and superstore

Question 19

Which retail institution is most likely to be an example of a destination store?

Accepted Answer

A) variety store 
B) specialty store 
C) category killer 
D) superstore 
A) variety store 
B) specialty store 
C) category killer 
D) superstore

Question 20

Which statement concerning scrambled merchandising is correct?

Accepted Answer

A) Supermarkets have not engaged in scrambled merchandising. 
B) Retailers typically trade up as part of scrambled merchandising. 
C) Scrambled merchandising is contagious. 
D) Scrambled merchandising typically occurs at the innovation stage of the retail life cycle. 
A) Supermarkets have not engaged in scrambled merchandising. 
B) Retailers typically trade up as part of scrambled merchandising. 
C) Scrambled merchandising is contagious. 
D) Scrambled merchandising typically occurs at the innovation stage of the retail life cycle.

The food-oriented retailer with the greatest width of assortment is the _____.

The retail life cycle stage corresponding to a retail innovator first becoming vulnerable to new discount retailers with a lower cost structure is _____.

Which retail theory predicts that innovators will start with a low-cost structure and low profit margin requirements?

The beginning of the wheel of retailing (when low-price institutions first appear)corresponds to which retail life cycle stage?

An appropriate retailer action in the accelerated development stage of the retail life cycle is to establish a pre-emptive market position by leasing ideal locations to lock out competition.

The institution with the greatest assortment of any general merchandise retailer is the _____.

A department store's product assortment is wider but less deep than a specialty store's.

A retailer with high customer loyalty is able to attract shoppers who come from long distances.This retailer is described as a(n)_____.

Department stores are now facing increased competition from factory outlets,membership clubs,and flea markets.This illustrates _____.

Conventional supermarkets,food-based superstores,combination stores,box stores,and warehouse stores are all included in the general definition of a supermarket.

A high level of investment is needed to sustain growth during which retail life cycle stage?

A category killer is a form of destination retailer that focuses its retail strategy on an enormous selection.

Which institution can be classified as either a wholesaler or retailer?

Which of these is not a basic strategic position according to the wheel-of-retailing theory?

A department store has the greatest assortment of any general merchandise retailer.

The high sales volume at off-price chains,factory outlets,membership clubs,and flea markets can be explained by the retail life cycle.

Manufacturers may prefer to sell their closeouts,canceled orders,and out-of-season merchandise to factory outlets rather than off-price chains because _____.

Which retail institutions fit the scrambled merchandising concept?

Which retail institution is most likely to be an example of a destination store?

Which statement concerning scrambled merchandising is correct?

An Introduction to Retailing

Building and Sustaining Relationships in Retailing

Strategic Planning in Retailing

Retail Institutions by Ownership

Web, Nonstore-Based, and Other Forms of Nontraditional Retailing

Identifying and Understanding Consumers

Information Gathering and Processing in Retailing

Trading-Area Analysis

Site Selection

Retail Organization and Human Resource Management

Operations Management: Financial Dimensions

Operations Management: Operational Dimensions

Developing Merchandise Plans

Implementing Merchandise

Financial Merchandise Management

Pricing in Retailing

Establishing and Maintaining a Retail Image

Promotional Strategy

Integrating and Controlling the Retail Strategy

Filters

Exam 5: Retail Institutions by Store-Based Strategy

The food-oriented retailer with the greatest width of assortment is the _____.

The retail life cycle stage corresponding to a retail innovator first becoming vulnerable to new discount retailers with a lower cost structure is _____.

Which retail theory predicts that innovators will start with a low-cost structure and low profit margin requirements?

The beginning of the wheel of retailing (when low-price institutions first appear)corresponds to which retail life cycle stage?

An appropriate retailer action in the accelerated development stage of the retail life cycle is to establish a pre-emptive market position by leasing ideal locations to lock out competition.

The institution with the greatest assortment of any general merchandise retailer is the _____.

A department store's product assortment is wider but less deep than a specialty store's.

A retailer with high customer loyalty is able to attract shoppers who come from long distances.This retailer is described as a(n)_____.

Department stores are now facing increased competition from factory outlets,membership clubs,and flea markets.This illustrates _____.

Conventional supermarkets,food-based superstores,combination stores,box stores,and warehouse stores are all included in the general definition of a supermarket.

A high level of investment is needed to sustain growth during which retail life cycle stage?

A category killer is a form of destination retailer that focuses its retail strategy on an enormous selection.

Which institution can be classified as either a wholesaler or retailer?

Which of these is not a basic strategic position according to the wheel-of-retailing theory?

A department store has the greatest assortment of any general merchandise retailer.

The high sales volume at off-price chains,factory outlets,membership clubs,and flea markets can be explained by the retail life cycle.

Manufacturers may prefer to sell their closeouts,canceled orders,and out-of-season merchandise to factory outlets rather than off-price chains because _____.

Which retail institutions fit the scrambled merchandising concept?

Which retail institution is most likely to be an example of a destination store?

Which statement concerning scrambled merchandising is correct?

An Introduction to Retailing

Building and Sustaining Relationships in Retailing

Strategic Planning in Retailing

Retail Institutions by Ownership

Web, Nonstore-Based, and Other Forms of Nontraditional Retailing

Identifying and Understanding Consumers

Information Gathering and Processing in Retailing

Trading-Area Analysis

Site Selection

Retail Organization and Human Resource Management

Operations Management: Financial Dimensions

Operations Management: Operational Dimensions

Developing Merchandise Plans

Implementing Merchandise

Financial Merchandise Management

Pricing in Retailing

Establishing and Maintaining a Retail Image

Promotional Strategy

Integrating and Controlling the Retail Strategy

Filters