Efficient consumer response (ECR) is an example of _____.
a. electronic data interchange
b. floor-ready merchandise
c. third-party logistics
d. collaborative planning, forecasting, and replenishment
A retailer can best implement a consumer’s right to safety by _____.
a. selling foods with additives
b. age-labeling all toys
c. providing a money-back guarantee on all goods and services
d. nutritional labeling of all food products
The least tangible type of service is _____ services.
a. regulated goods
b. nongoods
c. owned-goods
d. rented-goods
A retailer can generate data on merchandise turnover, order lead time, and availability
of goods by examining _____.
a. inventory records
b. sales figures
c. profit-and-loss statements
d. customer billings
A vertical retail audit _____.
a. is one in which a retailer’s employees are not aware that the audit is taking place
b. involves an analysis of the overall performance of the retailer
c. is also called a “retail strategy audit”
d. involves an in-depth analysis of a retailer’s performance in one area of its strategy
mix or operations
The major difference between social and commercial cues is based on the _____.
a. duration of the consumer decision process
b. degree of information search
c. objectivity of the source
d. degree of problem awareness
Federal pricing legislation applies to _____.
a. intrastate commerce
b. interstate commerce
c. all commerce
d. interstate commerce for price discrimination only
A secondary business district generally is comprised of a minimum of _____.
a. several department stores and a broad group of specialty stores
b. a grouping of stores with similar merchandise lines
c. a junior department store, and several larger specialty stores
d. a supermarket and several service stores
Which statement concerning the scope of retailing is correct?
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 benefit to the use of a fully integrated vertical marketing system is _____.
a. higher investment requirements
b. greater profitability due to franchising
c. greater control over production and marketing
d. increased sales due to less market penetration
The quick ratio measures a retailer’s _____.
a. liquidity
b. collection quality
c. financial leverage
d. profitability
The type of retailer with the largest percent of total retail franchise sales is _____.
a. gasoline service stations
b. hotels and motels
c. restaurants
d. auto and truck dealers
One impact of electronic banking for retailers is the increased opportunity for _____.
a. video-ordering systems
b. retailer-generated credit cards
c. generating increased store traffic
d. in-home banking
In a typical franchise arrangement, a franchisee pays an initial fee and a monthly
percentage of gross sales in exchange for the exclusive rights to sell goods and services
in a specified geographic area.