A major disadvantage to the use of census data in trading-area analysis is its _____.
a. cost
b. being limited to city and state data
c. lack of comprehensiveness
d. dated nature
A subculture can be based upon all of the following except _____.
a. religion
b. geographic region
c. nationality
d. geographic mobility
Which type of planning is in accord with the principles that subordinates should have
minimal involvement in retail planning?
a. top-down
b. short range
c. bottom-up
d. long range
Which of the following best illustrates a value-driven retail strategy?
a. a retailer’s setting goals and using its strategy to attain them
b. a retailer’s reducing prices to the lowest possible level
c. a retailer’s having prices appropriate for the level of products and customer service
d. a retailer’s integrating all plans and activities to maximize efficiency
Which problem definition topic is most likely to require primary data collection?
a. to determine the percent of females living in Florida
b. to determine a retailer’s image based upon fashion leadership and pricing variables
c. to determine the growth in the service economy in terms of employment
d. to analyze the percent of adult females that work on a full-time basis
Which planned shopping center type most commonly uses a mall layout with anchor
stores at both ends?
a. string
b. regional shopping center
c. community shopping center
d. neighborhood shopping center
The cost method of accounting does not enable a retailer to determine gross profit until
_____.
a. a physical inventory is undertaken
b. taxes are determined
c. costs are determined
d. retail prices are determined
The food-oriented retailer with the most narrow width and depth of assortment is the
_____.
a. warehouse store
b. conventional supermarket
c. convenience store
d. food-based superstore
The collection period measures the _____.
a. age of credit sales
b. age of accounts receivable
c. age of accounts payable
d. number of accounts due
Which retailer grouping has a high level of affinity?
a. supermarket, drugstore, and meat store
b. physician, lawyer, and insurance broker
c. grocery store, variety store, and department store
d. movie theater, department store, and bowling alley
The use of direct marketing by a store-based retailer demonstrates _____.
a. multi-channel retailing
b. scrambled merchandising
c. the wheel of retailing
d. rationalized retailing
An example of a tangible attribute as studied by SERVQUAL is _____.
a. a service technician’s uniform
b. the providing of services when promised
c. the giving of attention to a customer’s complaint by a service technician
d. keeping customers informed about when their service will be performed
The battle of the brands refers to the _____.
a. competition that occurs among manufacturer, private, and generic brands
b. price competition between domestic and foreign goods
c. increased competition for shelf space between private and generic brands
d. increased competition within a brand due to product line extensions
A retailer can most easily improve its collection period by a significant degree by
_____.
a. switching to vendors which grant liberal credit terms
b. raising its initial markup
c. encouraging retail credit customers to use bank and commercial credit cards
d. using point-of-sale systems
An example of external secondary data is _____.
a. regular periodicals downloaded from the Web
b. annual budgets for your firm’s advertising
c. daily sales figures by retail location
d. inventory records of fast-selling goods
Clothing buyers have been categorized as clothes horses, bargain hunters, image
seekers, and shopping-averse consumers. This divides shoppers by _____.
a. demographics
b. reference groups
c. lifestyles
d. perceived risk
A firm pursuing a sales objective is more likely to try to satisfy a market segment
(instead of a mass market or multiple segments).
A retailer can increase the effectiveness of its inventory management by buying from
vendors with faster delivery.
Common methods of improving retail productivity for a variety of retail institutions are
changing the merchandise mix, improving sales training, and redesigning stores.
The difference between net sales and cost of goods sold is gross profit.
Store compatibility with adjacent retailers is generally measured by customer
interchange.
One objective of an energy management system is to reduce energy costs through the
purchase of efficient heating, air-conditioning, and ventilating equipment.
In computing the direct product profitability of manufacturer and private brands, the
retailer should reflect the absence of a promotional allowance on the private brand.
A firm can benchmark its current performance against its own prior performance,
specific competitors, and high performance retailers.
A retailer can track the results of a frequent shopper program through data-base
management.