Question 1

A _____ is a discount store that carries a vast depth and breadth of product within a single product category.

Accepted Answer

A)   supercenter
B)   specialty discount store
C)   warehouse club
D)   full-line discount store

Question 2

Which of the following describes vending as a nonstore option?

Accepted Answer

A)   Retailers generally avoid opportunities to sell via vending as it is too impersonal.
B)   A downside of vending is that it is yet to integrate cashless payment into its systems.
C)   Automatic vending can serve customers seeking luxury items such as champagne.
D)   Its users are generally time strapped and live in rural or suburban areas.

Question 3

Zeta Inc.,a multinational retail corporation,uses a device that sends customers a marketing message via email or text when they are near a store.This is an example of _____.

Accepted Answer

A)   cloud computing
B)   a beacon
C)   shopper marketing
D)   click-and-connect

Question 4

Off-price retailers sell their goods at prices 25 percent or more below traditional department store prices.What makes such a policy viable?

Accepted Answer

A)   They offer only volume discounts in exchange for a periodic membership fee.
B)   They specialize in a single line of merchandise and are the dominant retailer in their category.
C)   They pay cash for its stock and usually doesn't ask for return privileges.
D)   They resell items purchased from one of the other types of retailers.

Question 5

Which methodology does Walmart use to determine where in the store to stock products for customer convenience (for example,placing Kleenex tissues in the paper-goods aisle and also beside cold medicines) ?

Accepted Answer

A)   Shopper marketing
B)   Shopper analytics
C)   Big data analysis
D)   Market-basket analysis

Question 6

Providing great customer service is one of the most challenging elements in the retail mix because:

Accepted Answer

A)   customer relations do not increase brand value.
B)   customers are indifferent to service quality.
C)   customer expectations for service vary greatly.
D)   customers do not trust retail salespeople.

Question 7

Will,a salesperson at a superstore,mistakenly provides wrong information to a customer about the location of a specific brand of dishwashing liquid.The customer,as a result,wastes time searching for the product.This is an example of brand cannibalization.

Accepted Answer

A) True 
 B)False

Question 8

Strategic retailing goals typically focus on:

Accepted Answer

A)   reducing costs of goods sold.
B)   increasing costs of goods sold.
C)   reducing return on assets or equity.
D)   not using a retailing mix.

Question 9

Many retailers have found that natural lighting,either from windows or skylights,can lead to increased sales.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following is a miniature supermarket,carrying only a limited line of high-turnover goods?

Accepted Answer

A)   Specialty discount store
B)   Warehouse club
C)   Department store
D)   Convenience store

Question 11

Customers are always skeptical about the reasons for retailer errors; however,their reactions to mistakes such as product stockouts and unexpectedly poor-quality products are limited to casual indifference.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following is a similarity between factory outlets and off-price retailers?

Accepted Answer

A)   Both sell at prices well below traditional department store prices.
B)   Both offer high levels of customized service to customers.
C)   Both follow an agile approach to inventory.
D)   Both carry multiple product lines that are considerably deep.

Question 13

Which of the following sells bulk quantities of merchandise to customers at volume discount prices in exchange for a periodic membership fee?

Accepted Answer

A)   Full-line discount store
B)   Specialty discount store
C)   Factory outlet
D)   Warehouse club

Question 14

With fewer loyal customers and a low customer penetration,the shop-at-home industry has shrunk over the years.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following represents all activities directly related to the sale of goods and services to the ultimate consumer for personal,nonbusiness use?

Accepted Answer

A)   Product development
B)   Production
C)   Retailing
D)   Manufacturing

Question 16

Which of the following is true of regional malls?

Accepted Answer

A)   They are neither enclosed nor roofed to allow an open-air shopping experience.
B)   They offer a much wider variety of merchandise and acres of free parking.
C)   They have no decorative elements such as fountains,sculptures,and the like.
D)   The anchor stores are all usually located near the entrance of the mall.

Question 17

Which factor is considered the most critical in determining where customers choose to shop?

Accepted Answer

A)   Store/website design
B)   Display
C)   Merchandise selection
D)   Service

Question 18

Which of the following represents the thinking behind single-line specialty discount stores such as Foot Locker?

Accepted Answer

A)   They offer a nearly complete selection of merchandise within a single product category and use self-service,discount prices,high volume,and high turnover to their advantage.
B)   They sell items from a full-line discount stock to customers who are drawn in primarily by the food on sale.
C)   They specialize in a single line of merchandise and become the dominant retailer in their category.
D)   They sell overruns,irregular merchandise,and/or overstocks purchased from manufacturers at or below cost.

Question 19

Which of the following is always true of a factory outlet?

Accepted Answer

A)   It works quite unlike an off-price retailer.
B)   It is owned and operated by a manufacturer.
C)   It stocks and sells a wide variety of merchandise.
D)   It is the dominant retailer in its category.

Question 20

What is the selling technique of trading up?

Accepted Answer

A)   It seeks to broaden customers' original purchases with related items available in the store.
B)   It persuades customers to buy a higher-priced item than they originally intended to purchase.
C)   It allows customers to shop by themselves as long as they can easily find what they need.
D)   It focuses on the value of the product to the customer more than the cost of the product to the supplier.

Exam 14: Retailing

With fewer loyal customers and a low customer penetration,the shop-at-home industry has shrunk over the years.

Correct AnswerverifiedShow Answer

Which of the following represents the thinking behind single-line specialty discount stores such as Foot Locker?

Correct AnswerverifiedShow Answer

Providing great customer service is one of the most challenging elements in the retail mix because:

Correct AnswerverifiedShow Answer

What is the selling technique of trading up?

Correct AnswerverifiedShow Answer

Which factor is considered the most critical in determining where customers choose to shop?

Correct AnswerverifiedShow Answer

Off-price retailers sell their goods at prices 25 percent or more below traditional department store prices.What makes such a policy viable?

Correct AnswerverifiedShow Answer

Will,a salesperson at a superstore,mistakenly provides wrong information to a customer about the location of a specific brand of dishwashing liquid.The customer,as a result,wastes time searching for the product.This is an example of brand cannibalization.

Correct AnswerverifiedShow Answer

Which methodology does Walmart use to determine where in the store to stock products for customer convenience (for example,placing Kleenex tissues in the paper-goods aisle and also beside cold medicines) ?

Correct AnswerverifiedShow Answer

Customers are always skeptical about the reasons for retailer errors; however,their reactions to mistakes such as product stockouts and unexpectedly poor-quality products are limited to casual indifference.

Correct AnswerverifiedShow Answer

Which of the following is a miniature supermarket,carrying only a limited line of high-turnover goods?

Correct AnswerverifiedShow Answer

Which of the following describes vending as a nonstore option?

Correct AnswerverifiedShow Answer

Strategic retailing goals typically focus on:

Correct AnswerverifiedShow Answer

Zeta Inc.,a multinational retail corporation,uses a device that sends customers a marketing message via email or text when they are near a store.This is an example of _____.

Correct AnswerverifiedShow Answer

Many retailers have found that natural lighting,either from windows or skylights,can lead to increased sales.

Correct AnswerverifiedShow Answer

Which of the following is true of regional malls?

Correct AnswerverifiedShow Answer

Which of the following represents all activities directly related to the sale of goods and services to the ultimate consumer for personal,nonbusiness use?

Correct AnswerverifiedShow Answer

Which of the following sells bulk quantities of merchandise to customers at volume discount prices in exchange for a periodic membership fee?

Correct AnswerverifiedShow Answer

Which of the following is a similarity between factory outlets and off-price retailers?

Correct AnswerverifiedShow Answer

A _____ is a discount store that carries a vast depth and breadth of product within a single product category.

Correct AnswerverifiedShow Answer

Which of the following is always true of a factory outlet?

Correct AnswerverifiedShow Answer

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