A systematic procedure for analyzing the performance of a retailer is _____.
a. tactical performance evaluation
b. a retail audit
c. feedback
d. strategy evaluation
Ease of entry is simplest for which service retailer type?
a. nongoods retailer
b. rental-goods retailer
c. retailer with extensive licensing requirements
d. leased goods retailer
Which survey technique minimizes interviewer bias?
a. mail survey
b. personal survey
c. telephone survey
d. nondisguised personal survey
While the _____ markup is based on the original retail value, the _____ markup is
based on actual prices received for the merchandise.
a. initial; actual
b. initial; maintained
c. planned; actual
d. planned; maintained
An advantage to a retailer’s having a wide assortment is _____.
a. a broad selection within a merchandise category
b. less likelihood of being out-of-stock
c. high inventory turnover
d. the appeal to one-stop shopping
Job turnover, performance, and absenteeism can often be predicted using a(n) _____.
a. goal-oriented job description
b. application blank
c. weighted application blank
d. job analysis
What organizational format best describes a situation where a large number of
subordinates report to one manager?
a. diversified retailer
b. tall organization
c. chain organization
d. flat organization
Which type of retailer is characterized by very narrow width and extensive depth of
assortment?
a. variety store
b. specialty store
c. department store
d. box (limited-line) store
A high degree of information search generally occurs when _____.
a. perceived risk is high
b. a purchase is viewed as unimportant
c. cognitive dissonance is low
d. a consumer is brand loyal
Which of the following is not a logistics-based performance goal?
a. efficiently placing merchandise on the sales floor
b. effectively coordinating shipments from various suppliers
c. effectively minimizing markdowns through timing markdowns
d. effectively returning damaged goods to their vendor
Which of these laws do not enable suppliers to offer unjustified discounts to large
retailers?
a. Robinson-Patman Act
b. Miller-Tydings Act
c. Sherman Act
d. Clayton Act
The first stage in development of a retail strategy should be to determine the retailer’s
_____.
a. most appropriate target market
b. short-run objectives
c. long-run objectives
d. type of business and orientation of the firm
The way in which a retailer is perceived by customers and others is its _____.
a. aesthetics
b. retail image
c. goodwill
d. atmosphere
Which of the following is an example of direct marketing?
a. a final consumer being exposed to a good or service through a Web-based ad
b. a final consumer being exposed to a good or service through a door-to-door
salesperson
c. a final consumer being exposed to a good or service through a referral by a neighbor
d. a final consumer being exposed to a good or service through a referral by a
department store’s salesperson
Independent retailers are characterized by _____.
a. a partnership form of organization
b. a franchise form of distribution
c. vertical integration
d. ownership of only one retail unit
Which form of perceived risk most closely resembles class consciousness?
a. social risk
b. performance risk
c. time risk
d. financial risk
The difference between merchandise available for sale and the cost of goods sold is that
the cost of goods sold includes _____.
a. beginning inventory
b. operating expenses
c. transportation charges
d. ending inventory
A regular order is characterized by _____.
a. the use of opportunistic buying by a discounter
b. a high degree of negotiation on an ongoing basis
c. a high level of opportunistic buying
d. a uniform contract with standardized terms
A slow collection period indicates slow-turning accounts receivable.
Micromarketing is an application of data mining.
In the cost method of accounting, gross profits can be computed monthly if a physical
inventory is conducted on a quarterly basis.
A major limitation to direct marketing is the inability of consumers to examine a
product prior to purchase.
Store location decisions are usually short-term decisions.
For staple merchandise, assortment planning is conducted with the use of a basic stock
list.
Retailers are able to charge slotting allowances due to the high competition for shelf
space among new products.
A major advantage of planned shopping center locations (versus business districts) is
freedom over store operations (hours, merchandise lines, days open, and so on).