An objective, easily identifiable, and measurable population characteristic is called a(n)
_____.
a. AIO inventory
b. demographic statistic
c. lifestyle measure
d. reference group measure
A retailer with sales of $10 million and selling expenses of $3 million has an efficiency
rating of _____.
a. 20 percent
b. 40 percent
c. 60 percent
d. 70 percent
Which food-oriented retailer traditionally uses cut cases, relies on customers doing their
own bagging, and heavily utilizes private-label brands?
a. box (limited-line) store
b. convenience store
c. combination store
d. superstore
There is much discussion about saturation of fast-food franchises and the need for
unconventional locations (such as schools, zoos, or U.S. naval bases) in the United
States. This illustrates which retail life cycle stage?
a. introduction
b. accelerated development
c. maturity
d. decline
The need to develop and monitor a common image for all units is important for which
retail institutions?
a. independents and cooperatives
b. chains and franchises
c. chains and service sponsors
d. independents and service sponsors
The first step in planning a retail promotional strategy is _____.
a. evaluating the success of past promotional strategies
b. determining the promotional mix
c. establishing an overall promotional budget
d. determining promotional objectives
Expected customer services _____.
a. are considered basic ingredients in the retail offering
b. complement a store’s extended offering
c. are extra ingredients that add to the retail offering
d. are provided to customers free of charge
All of the businesses and people involved in the physical movement and transfer of
ownership of goods and services from producer to consumer constitute _____.
a. a channel of distribution
b. wholesaling
c. retail management
d. the sorting process
Electronic banking involves _____.
a. end-of-month credit statements
b. the use of standardized credit systems on a national level
c. video-recording systems
d. the use of automatic teller machines and the instant processing of retail purchases
A retailer can increase its return on assets by increasing its _____.
a. financial leverage
b. asset turnover
c. debt
d. cost of goods sold
A major difficulty with the use of prototype stores is the _____.
a. inconsistent store image
b. higher purchase costs for fixtures
c. inflexibility in dealing with special site characteristics
d. difficulty in applying standardized operating cost controls to different locations
An example of a staggered markdown policy is a(n) _____.
a. automatic markdown plan
b. price adjustment policy
c. late markdown policy
d. early markdown policy
The average annual U.S. household after-tax income is about _____.
a. $20,000
b. $35,000
c. $50,000
d. $65,000
A characteristic of rationalized retailing programs is the _____.
a. encouragement of manufacturers to finance inventories
b. use of low-cost rental locations
c. use of used equipment and fixtures
d. high degree of centralized management control
A direct marketer is involved in decisions relating to headlines, paper quality, and
message content. What step is involved in the retailer’s direct marketing strategy?
a. presenting the message
b. customer contact
c. business definition
d. customer response