Most types of retail selling can be categorized as either _____.
a. order taking or order getting
b. clerical or professional
c. institutional or direct
d. promotional or institutional
Defining and adhering to an organizational mission, evaluating ownership and
management alternatives, and outlining the goods/service category to be sold are parts
of which element of retail strategy?
a. store operations
b. situation analysis
c. identification of consumer characteristics
d. objectives determination
A characteristic of a string location is _____.
a. being bounded by two important intersections
b. balanced tenancy
c. little extension of the shopping area onto side streets
d. being a one-hundred percent location
The potential for channel conflict (due to the high power of a retailer relative to a
manufacturer) is greatest in which form of distribution?
a. dual distribution
b. selective distribution
c. exclusive distribution
d. intensive distribution
Which type of consumer behavior topic can be best studied using observation?
a. the store image of a new discounter
b. perceived risk related to sneaker purchasing behavior
c. consumer cognitive dissonance subsequent to the purchase of a new home
d. the average time spent in a convenience store
The steps a consumer goes through when reacting to promotion are called _____.
a. information search
b. Herzberg’s theory of motivation
c. the hierarchy of effects
d. the consumer’s decision process
Staying open longer hours, increasing the use of mail and phone orders, and purchasing
goods through vendors with faster delivery times allows a retailer to _____.
a. increase its return on assets
b. increase its profit margins
c. increase its financial leverage
d. decrease its return on assets
The stage of the marketing research process that may be eliminated is _____.
a. problem definition
b. implementation of findings
c. recommendations
d. primary data generation
Which system increases employee productivity for supermarkets?
a. debit card system
b. self-scanning
c. outsourcing
d. data-base management
The major difference between the descriptions of goods in a basic stock list and in a
model stock plan is the _____.
a. size distribution
b. amount of goods purchased
c. extent to which descriptions change period to period
d. seasonality inherent in a basic stock list
Planning tends to be less formal and more intuitive in which management format?
a. centralized structure
b. professional manager system
c. corporation
d. owner-manager system
Many leases in leased departments can be terminated on very short notice (as little as 60
days) by the leasor. This gives the leasor _____.
a. decreased bargaining power
b. increased bargaining power
c. protection under fair practice laws
d. additional revenue
An electronics retailer accomplishes a consumer’s one-stop needs through _____.
a. the sorting process
b. a deep channel of distribution
c. a wide channel of distribution
d. exclusive distribution
A plan that specifies exactly which products (goods and services) are purchased, when
products are purchased, and how many products are purchased is a _____ plan.
a. unit control
b. dollar control
c. never-out
d. financial merchandise
Direct marketers can minimize waste circulation of catalogs through use of current and
highly targeted mailings.
Relationship retailing is a short-term approach.
In inspection, individual items are sampled for their quality and condition.
The use of prototype stores, standardized merchandise lines, and cooperative
advertising give product/trademark franchisees similar advantages to chains.
Small, independent retailers are generally best suited to isolated locations.
A retailer has the ability to specifically target its audience in outdoor advertising.
Rented-goods service retailers require little or no inventories.
Consumers have little concern as to which channel member in a value chain performs
each service.
Which type of store does not have its own trading area?
a. unsaturated
b. saturated
c. parasite
d. destination
In considering the purchase of a business, it is important that a retailer evaluate the
length of a lease, condition of inventory, and value/cost of goodwill.