Flowers tend to be priced higher when demand is greatest, around Mother’s Day and
Valentine’s Day. This is an example of _____ pricing.
a. flexible
b. dynamic
c. psychological
d. variable
e. customary
Gen Y consumers were born between the years:
a. 1922-1945.
b. 1946-1964.
c. 1965-1977.
d. 1978-1994.
e. 1995-2002.
The effectiveness of the buyer-vendor relationship depends on the:
a. final negotiated prices.
b. negotiation skills of the buyer and the economic power of the firms involved.
c. profitability of the line for the retailer.
d. method of shipment.
e. markdown money.
The three types of learning are:
a. initial learning, transition learning, final learning.
b. pre-learning, actual learning, post-learning
c. beginning learning, middle learning, end learning.
d. single-loop learning, double-loop learning, triple-loop learning.
e. first-tier learning, second- tier learning, third-tier learning.
_____ refers to the number of merchandise brands that are found in a single
merchandise line.
a. Choice
b. Variety
c. Assortment
d. Breadth
e. Depth
Financial performance objectives can be broken into two categories:
a. marketing objectives and operating objectives.
b. profitability objectives and productivity objectives.
c. administrative objectives and financial strategy objectives.
d. human performance objectives and information objectives.
e. seasonal objectives and general operating objectives.
_____ stores are stores in a shopping center that are most dominant and are expected to
draw customers to the shopping center.
a. Gravitational
b. Power
c. Anchor
d. Mega
e. Critical mass
Which of the following is NOT a major component used by retailers to determine a
market’s demand potential?
a. Population characteristics
b. Buyer behavior characteristics
c. Household income
d. Population density
e.
Which of the following characteristics is NOT desirable for a retail manager to possess?
a. Enthusiasm
b. Creativity
c. Analytical skills
d. Indecisiveness
e. Initiative
_______ is the display of merchandise on counters, racks, shelves and fixtures
throughout the store.
a. Hardline merchandising
b. Feature merchandising
c. Softline merchandising
d. On-shelf merchandising
e. Visual merchandising
Identify the correct statement about extended problem solving.
a. It occurs when the consumer recognizes that a problem exists yet does not have a
strong preference for either the brand or the store.
b. The consumer has a strong preference for the brand to buy and the retailer from
which to purchase it.
c. It typically involves infrequently purchased expensive products of high risk.
d. The consumer may not have a store choice in mind but may have a strong preference
for the brand to purchase.
e. The consumer relies on past experience and learning to convert the problem into a
situation requiring less thought.
Explain the difference between monopolistic and oligopolistic competition.
Regardless of the advertising objective chosen, it must be aimed at a specific market
segment and must also be measurable over a given time period.
A SWOT analysis is actually the retail industry’s term for an accounting audit.
Solidarity in a channel exists when a high value is placed on the relationship between a
supplier and retailer.
Strategies indicate how the retailer will attempt to accomplish its goals with the
resources available.
When comparing the financial statements of different retailers, it is important to know
how each retailer treats their expenses.
Walmart became the world’s largest retailer by focusing on its bottom line profits.