Question 1

Which of the following offers an inconsistent assortment of merchandise at relatively low prices?

Accepted Answer

A)  Department stores 
B)  Discount stores 
C)  Convenience stores 
D)  Specialty stores 
E)  Off-price retailers

Question 2

Which of the following general merchandise retailers have lost market share to other retailers that provide better value at low prices and high-end store chains in the recent years?

Accepted Answer

A)  Department stores 
B)  Discount stores 
C)  Specialty stores 
D)  Drugstores 
E)  Category specialists

Question 3

Cash payment and risk reduction are benefits offered by bricks-and-mortar retailers.

Accepted Answer

A) True 
 B)False

Question 4

Describe personalized customer service in the context of the Internet channel.

Accepted Answer

The answer of Describe personalized customer service in the context...

Question 5

Olive Inc.,a multichannel retailer,would like to allow its customers to look through the products at their own pace and experience the product through the senses before making a purchase.It also wants to extend personal service to those customers who prefer it.Olive can achieve this best by:

Accepted Answer

A)  increasing its number of kiosks. 
B)  opening more retail stores. 
C)  increasing the variety of its catalogues. 
D)  reducing its workforce. 
E)  increasing its manufacturing capability.

Question 6

What is a specialty store? Give an example.

Accepted Answer

The answer of What is a specialty store? Give an...

Question 7

A key ingredient of success for retailers is:

Accepted Answer

A)  preference. 
B)  convenience. 
C)  personalization. 
D)  expenditure. 
E)  store branding.

Question 8

Risk reduction and social interaction are benefits associated with the:

Accepted Answer

A)  kiosk channel. 
B)  store channel. 
C)  catalogue channel. 
D)  mail order channel. 
E)  Internet channel.

Question 9

Richway offers a wide variety of products,such as clothing,footwear,electronics,housewares,bedding,and beauty products,at prices lower than traditional retail outlets with limited service.Richway is an example of a:

Accepted Answer

A)  convenience store. 
B)  supermarket. 
C)  warehouse club. 
D)  discount store. 
E)  specialty store.

Question 10

Which of the following is a benefit offered to customers by the store channel?

Accepted Answer

A)  Access to out-of-stock items 
B)  Expanded market presence 
C)  Instant gratification 
D)  Broader selection 
E)  Access to gift registries

Question 11

Loblaw's No Frills stores are for those customers who want high-quality products and a high level of service.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following general merchandise retailers concentrate on a limited number of complementary merchandise in relatively small stores?

Accepted Answer

A)  Discount stores 
B)  Department stores 
C)  Specialty stores 
D)  Drugstores 
E)  Convenience stores

Question 13

A general merchandise discount store located in a lower-income urban or rural area is known as a(n):

Accepted Answer

A)  convenience store. 
B)  category specialist. 
C)  department store. 
D)  specialty store. 
E)  extreme value retailer.

Question 14

A hypermarket is a type of conventional supermarket that offers only groceries and meat.

Accepted Answer

A) True 
 B)False

Question 15

Neil's Mart has several outlets across Ontario and sells a limited number of items at accessible locations in small stores with speedy checkouts.It also typically charges higher prices than most other types of food stores.Neil's Mart is an example of a:

Accepted Answer

A)  specialty store. 
B)  supermarket. 
C)  hypermarket. 
D)  discount store. 
E)  convenience store.

Question 16

George wants to buy a new music player and looks at the various options available to him before deciding on a particular model.He also wants to check if that model is available before visiting the store.Which of the following retail channels is best suited for this purpose?

Accepted Answer

A)  Kiosks 
B)  Stores 
C)  Catalogues 
D)  Trade literature 
E)  The Internet

Question 17

Which of the following retail channels enables firms with strong brands but limited distribution to expand their market presence?

Accepted Answer

A)  Kiosks 
B)  Catalogues 
C)  Trade literature 
D)  Traditional stores 
E)  The Internet

Question 18

Which of the following channels enables retailers to offer a deeper assortment of merchandise to satisfy consumer demand for less popular styles,colours,or sizes and still keep their overall inventory costs low?

Accepted Answer

A)  Brochure 
B)  Catalogue 
C)  The Internet 
D)  Store 
E)  Hypermarket

Question 19

Red Den is a grocery retail chain that offers products such as dairy,frozen foods,meat,snacks,and a limited line of general merchandise.Red Den is an example of a:

Accepted Answer

A)  convenience store. 
B)  specialty store. 
C)  hypermarket. 
D)  conventional supermarket. 
E)  drugstore.

Question 20

Purple Inc.,a popular cosmetics brand that produces soaps and body lotions,is introducing a new line of hair and nail care products into the market.Which of the following statements indicate that Purple is identifying the type of retailer with which it can place its new line of products?

Accepted Answer

A)  Purple works with its retailers to promote its new products by offering discounts and buy-one-get-one offers to stimulate sales. 
B)  Purple places its products with retail chains that have stores in many locations to target a large group of customers. 
C)  Purple decides to sell its new products in stores,as well as through catalogues and on the company website,to increase sales. 
D)  Purple decides to place its new line of products in a cosmetics specialty store where products are categorised according to brands and knowledgeable salespeople assist customers. 
E)  Purple decides to selectively distribute its products to maintain the image of the brand and to control the flow of its products.

Exam 13: Pricing Concepts for Establishing Value

Which of the following offers an inconsistent assortment of merchandise at relatively low prices?

Which of the following general merchandise retailers have lost market share to other retailers that provide better value at low prices and high-end store chains in the recent years?

Cash payment and risk reduction are benefits offered by bricks-and-mortar retailers.

Describe personalized customer service in the context of the Internet channel.

Olive Inc.,a multichannel retailer,would like to allow its customers to look through the products at their own pace and experience the product through the senses before making a purchase.It also wants to extend personal service to those customers who prefer it.Olive can achieve this best by:

What is a specialty store? Give an example.

A key ingredient of success for retailers is:

Risk reduction and social interaction are benefits associated with the:

Richway offers a wide variety of products,such as clothing,footwear,electronics,housewares,bedding,and beauty products,at prices lower than traditional retail outlets with limited service.Richway is an example of a:

Which of the following is a benefit offered to customers by the store channel?

Loblaw's No Frills stores are for those customers who want high-quality products and a high level of service.

Which of the following general merchandise retailers concentrate on a limited number of complementary merchandise in relatively small stores?

A general merchandise discount store located in a lower-income urban or rural area is known as a(n) :

A hypermarket is a type of conventional supermarket that offers only groceries and meat.

Neil's Mart has several outlets across Ontario and sells a limited number of items at accessible locations in small stores with speedy checkouts.It also typically charges higher prices than most other types of food stores.Neil's Mart is an example of a:

George wants to buy a new music player and looks at the various options available to him before deciding on a particular model.He also wants to check if that model is available before visiting the store.Which of the following retail channels is best suited for this purpose?

Which of the following retail channels enables firms with strong brands but limited distribution to expand their market presence?

Which of the following channels enables retailers to offer a deeper assortment of merchandise to satisfy consumer demand for less popular styles,colours,or sizes and still keep their overall inventory costs low?

Red Den is a grocery retail chain that offers products such as dairy,frozen foods,meat,snacks,and a limited line of general merchandise.Red Den is an example of a:

Purple Inc.,a popular cosmetics brand that produces soaps and body lotions,is introducing a new line of hair and nail care products into the market.Which of the following statements indicate that Purple is identifying the type of retailer with which it can place its new line of products?