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All of the activities involved in managing the retailer's physical facilities comprise
_____.
a. store maintenance
b. merchandising
c. energy management
d. operations management
Under what condition would it be rational for the trading areas of two branch locations
to completely overlap?
a. when the retailer desires cost economics in promotion
b. when the retailer decides to switch store locations from one large store to two small
stores
c. when a retailer pursues a mass marketing strategy
d. when each store has a different target market
Which of the following is the best economic base?
a. affluent consumers
b. single, but growing industry
c. diversified employment
d. young, educated consumers
A retailer opening a store in a location where it has no or little recognition should use
a(n) _____ advertisement.
a. competitive
b. reminder
c. pioneer
d. institutional
A retailer with sales of $1 million wants to increase its efficiency rating from 20 percent
to 30 percent. To what must it reduce selling expenses?
a. $200,000
b. $300,000
c. $400,000
d. $700,000
Which statement concerning RFID (radio frequency identification) is not correct?
a. RFID is an alternative to the use of Universal Product Codes.
b. Implementation costs for RFID are low.
c. At present, the use of RFID by retailers is limited.
d. RFID better enables a retailer to track inventory than UPC-based systems.
Cause and effect can be best measured using _____.
a. a survey
b. an experiment
c. observation
d. simulation
The fundamental differences between advertising and publicity relate to _____.
a. media payment and identification of sponsor
b. the personal nature of the presentation
c. the method of presentation
d. effectiveness
Two types of retail institutions satisfy the broad definition of a department store: the
traditional department store and the _____.
a. full-line discount store
b. hypermarket
c. variety store
d. retail catalog showroom
An evaluation of a retailer's overall strategy is a(n) _____ audit.
a. vertical
b. horizontal
c. disguised
d. undisguised
The sensitivity of consumers to price changes is measured by the _____.
a. input-output coefficient
b. coefficient of substitution
c. law of demand
d. price elasticity of demand
Extensive media coverage refers to _____ reach with _____ frequency.
a. high; high
b. high; low
c. low; high
d. low; low
Which process involves the handling of a credit transaction, issuing receipts,
forwarding orders to a warehouse, and shipping goods to a final consumer?
a. logistics
b. order fulfillment
c. inventory management
d. third-party logistics
In preparing a retail method of accounting worksheet, your accountant has provided you
with the following data:
December 1, 20XX - December 31, 20YY
What is the correct cost complement?
a. .48
b. .50
c. .52
d. 2.1
Retailers and their suppliers can regularly exchange information relating to inventory
levels, delivery times, and unit sales through _____.
a. marketing research
b. electronic data interchange
c. data-base management
d. the Universal Product Code
Which concept characterizes all destination retailers?
a. Destination retailers are dominant in terms of some aspect of their overall retail
strategy.
b. Destination retailers are chains.
c. Destination retailers have large locations.
d. Destination retailers have low prices.
