Question 1

Which of the following illustrates a retail transaction?

Accepted Answer

A) an auto manufacturer purchasing brochures to be distributed by its dealers 
B) a supermarket purchasing a freezer case for meat 
C) the U.S.government purchasing military aircraft 
D) a consumer buying coffee in a vending machine 
A) an auto manufacturer purchasing brochures to be distributed by its dealers 
B) a supermarket purchasing a freezer case for meat 
C) the U.S.government purchasing military aircraft 
D) a consumer buying coffee in a vending machine

Question 2

A manufacturer seeking to maximize its market share should utilize selective distribution.

Accepted Answer

A) True 
 B)False

Question 3

A strategic approach to the study of retailing stresses _____.

Accepted Answer

A) lowering retail costs 
B) the types of retailing and their development 
C) planning for and adapting to a complex,changing environment 
D) merger,acquisition,and downsizing opportunities 
A) lowering retail costs 
B) the types of retailing and their development 
C) planning for and adapting to a complex,changing environment 
D) merger,acquisition,and downsizing opportunities

Question 4

In 2010,the three largest retailing companies (based on annual sales)in order of size (from the largest firm)were _____.

Accepted Answer

A) Sears,Kroger,and Wal-Mart 
B) Sears,Wal-Mart,and Costco 
C) Wal-Mart,Home Depot,and Kroger 
D) Wal-Mart,Kroger,and Target 
A) Sears,Kroger,and Wal-Mart 
B) Sears,Wal-Mart,and Costco 
C) Wal-Mart,Home Depot,and Kroger 
D) Wal-Mart,Kroger,and Target

Question 5

Which of the following is not an element in the retailing concept?

Accepted Answer

A) customer orientation 
B) high levels of customer service 
C) coordinated effort 
D) value driven 
A) customer orientation 
B) high levels of customer service 
C) coordinated effort 
D) value driven

Question 6

The identifiable,but sometimes intangible,activities undertaken by a retailer in conjunction with the basic goods and services it sells comprise the retailer's _____.

Accepted Answer

A) level of commitment to the retail concept 
B) peripheral services 
C) customer satisfaction level 
D) customer service 
A) level of commitment to the retail concept 
B) peripheral services 
C) customer satisfaction level 
D) customer service

Question 7

The retailing concept is comprised of _____.

Accepted Answer

A) price orientation,social responsibility,and competitive defensibility 
B) niche strategy,cost leadership,and market segmentation 
C) customer orientation,coordinated effort,value driven,and goal orientation 
D) short-run objectives,long-term strategy,implementable actions,and channel control 
A) price orientation,social responsibility,and competitive defensibility 
B) niche strategy,cost leadership,and market segmentation 
C) customer orientation,coordinated effort,value driven,and goal orientation 
D) short-run objectives,long-term strategy,implementable actions,and channel control

Question 8

If retailers did not perform the sorting process,_____.

Accepted Answer

A) final consumers would have to visit multiple manufacturers to purchase their needs 
B) final consumers would be more powerful in the channel of distribution 
C) distribution channels would be more likely to be vertically integrated 
D) manufacturers would have improved cash flow 
A) final consumers would have to visit multiple manufacturers to purchase their needs 
B) final consumers would be more powerful in the channel of distribution 
C) distribution channels would be more likely to be vertically integrated 
D) manufacturers would have improved cash flow

Question 9

A manufacturer seeking maximum retailer cooperation should utilize which form of distribution?

Accepted Answer

A) exclusive distribution 
B) intensive distribution 
C) selective distribution 
D) dual distribution 
A) exclusive distribution 
B) intensive distribution 
C) selective distribution 
D) dual distribution

Question 10

The principles of strategic planning in retailing are equally applicable to small and large retailers.

Accepted Answer

A) True 
 B)False

Question 11

Only large firms can successfully adjust their retail strategies in response to consumer preferences.

Accepted Answer

A) True 
 B)False

Question 12

The arrangement of goods within a supermarket or department store is systematically studied to maximize _____.

Accepted Answer

A) manufacturer cooperation 
B) impulse sales 
C) payments by manufacturers 
D) self-service merchandising 
A) manufacturer cooperation 
B) impulse sales 
C) payments by manufacturers 
D) self-service merchandising

Question 13

A unique characteristic of retailing is _____.

Accepted Answer

A) the high effect of the business cycle on sales 
B) high foreign competition 
C) low average sales 
D) saturation of retail facilities 
A) the high effect of the business cycle on sales 
B) high foreign competition 
C) low average sales 
D) saturation of retail facilities

Question 14

The first stage in development of a retail strategy should be to determine the retailer's _____.

Accepted Answer

A) most appropriate target market 
B) short-run objectives 
C) long-run objectives 
D) type of business and orientation of the firm 
A) most appropriate target market 
B) short-run objectives 
C) long-run objectives 
D) type of business and orientation of the firm

Question 15

Which statement concerning the scope of retailing is correct?

Accepted Answer

A) Retailing is limited to transactions involving tangible goods. 
B) Purchases of goods made by retail organizations for further resale are part of retailing. 
C) Retailing is limited to store-based transactions. 
D) Wholesalers cannot conduct retail transactions. 
A) Retailing is limited to transactions involving tangible goods. 
B) Purchases of goods made by retail organizations for further resale are part of retailing. 
C) Retailing is limited to store-based transactions. 
D) Wholesalers cannot conduct retail transactions.

Question 16

On average,what percent of every sales dollar goes to department store retailers as compensation for the activities they perform?

Accepted Answer

A) 25 
B) 33 
C) 45 
D) 50 
A) 25 
B) 33 
C) 45 
D) 50

Question 17

While they do not directly involve a store facility,Web transactions,mail-order sales,direct selling,and vending machine sales are components of retailing.

Accepted Answer

A) True 
 B)False

Question 18

An approach to the study of retailing which focuses on a retailer's need to revise plans continually in order to adapt to a changing environment is the retailing concept.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following illustrates channel conflict between a manufacturer and its retailer customers?

Accepted Answer

A) a discounter's selling a manufacturer's product below the price levels at full-service retailers 
B) a cooperative advertising program in which retailers are encouraged to use selected advertising materials 
C) a manufacturer assisting retailers with inventory financing for its products 
D) a manufacturer developing a toll-free hot line for customer support 
A) a discounter's selling a manufacturer's product below the price levels at full-service retailers 
B) a cooperative advertising program in which retailers are encouraged to use selected advertising materials 
C) a manufacturer assisting retailers with inventory financing for its products 
D) a manufacturer developing a toll-free hot line for customer support

Question 20

The total retail experience is best defined as _____.

Accepted Answer

A) a retail operating philosophy that stresses long-term relationships between a retailer and its customers 
B) value-generating elements in the retail transaction 
C) all the elements in a retail offering that encourage or inhibit consumers during their contact with a retailer 
D) those retail strategies that contribute to total satisfaction among all retail stakeholders 
A) a retail operating philosophy that stresses long-term relationships between a retailer and its customers 
B) value-generating elements in the retail transaction 
C) all the elements in a retail offering that encourage or inhibit consumers during their contact with a retailer 
D) those retail strategies that contribute to total satisfaction among all retail stakeholders

Which of the following illustrates a retail transaction?

A manufacturer seeking to maximize its market share should utilize selective distribution.

A strategic approach to the study of retailing stresses _____.

In 2010,the three largest retailing companies (based on annual sales)in order of size (from the largest firm)were _____.

Which of the following is not an element in the retailing concept?

The identifiable,but sometimes intangible,activities undertaken by a retailer in conjunction with the basic goods and services it sells comprise the retailer's _____.

The retailing concept is comprised of _____.

If retailers did not perform the sorting process,_____.

A manufacturer seeking maximum retailer cooperation should utilize which form of distribution?

The principles of strategic planning in retailing are equally applicable to small and large retailers.

Only large firms can successfully adjust their retail strategies in response to consumer preferences.

The arrangement of goods within a supermarket or department store is systematically studied to maximize _____.

A unique characteristic of retailing is _____.

The first stage in development of a retail strategy should be to determine the retailer's _____.

Which statement concerning the scope of retailing is correct?

On average,what percent of every sales dollar goes to department store retailers as compensation for the activities they perform?

While they do not directly involve a store facility,Web transactions,mail-order sales,direct selling,and vending machine sales are components of retailing.

An approach to the study of retailing which focuses on a retailer's need to revise plans continually in order to adapt to a changing environment is the retailing concept.

Which of the following illustrates channel conflict between a manufacturer and its retailer customers?

The total retail experience is best defined as _____.

Building and Sustaining Relationships in Retailing

Strategic Planning in Retailing

Retail Institutions by Ownership

Retail Institutions by Store-Based Strategy

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 1: An Introduction to Retailing

Which of the following illustrates a retail transaction?

A manufacturer seeking to maximize its market share should utilize selective distribution.

A strategic approach to the study of retailing stresses _____.

In 2010,the three largest retailing companies (based on annual sales)in order of size (from the largest firm)were _____.

Which of the following is not an element in the retailing concept?

The identifiable,but sometimes intangible,activities undertaken by a retailer in conjunction with the basic goods and services it sells comprise the retailer's _____.

The retailing concept is comprised of _____.

If retailers did not perform the sorting process,_____.

A manufacturer seeking maximum retailer cooperation should utilize which form of distribution?

The principles of strategic planning in retailing are equally applicable to small and large retailers.

Only large firms can successfully adjust their retail strategies in response to consumer preferences.

The arrangement of goods within a supermarket or department store is systematically studied to maximize _____.

A unique characteristic of retailing is _____.

The first stage in development of a retail strategy should be to determine the retailer's _____.

Which statement concerning the scope of retailing is correct?

On average,what percent of every sales dollar goes to department store retailers as compensation for the activities they perform?

While they do not directly involve a store facility,Web transactions,mail-order sales,direct selling,and vending machine sales are components of retailing.

An approach to the study of retailing which focuses on a retailer's need to revise plans continually in order to adapt to a changing environment is the retailing concept.

Which of the following illustrates channel conflict between a manufacturer and its retailer customers?

The total retail experience is best defined as _____.

Building and Sustaining Relationships in Retailing

Strategic Planning in Retailing

Retail Institutions by Ownership

Retail Institutions by Store-Based Strategy

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