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When Austin saw pastries and coffee being sold at his local bookstore, he knew it was
an example of _____.
A. scrambled merchandising
B. intertype competition
C. product diversification
D. channel conflict
E. vertical differentiation
Answer:
From a retailer's perspective, which of the following is a good rule for resolving
customer complaints?
A. Motivate store employees to assume they know what the customer is complaining
about.
B. Interrupt customers when they are airing their complaints.
C. Allow the customers to complain if they feel they have not been treated properly.
D. Instruct store employees to assume what solution the customer is seeking.
E. Encourage store employees to have an antagonistic attitude when handling customer
complaints.
Answer:
(p.129-130) Competitive retailers can sell the same popular national brands. Which of
the following should retailers do to secure a competitive advantage?
A. Prevent its customers from comparison shopping.
B. Limit its store traffic to qualified buyers.
C. Increase its sales expenses.
D. Increase its merchandising flexibility.
E. Develop private label brands.
Answer:
A(n) _____ is a brand that is developed by a national brand vendor, often in conjunction
with a retailer, and is sold solely by the retailer.
A. premium brand
B. generic brand
C. copycat brand
D. exclusive brand
E. subbrand
Answer:
Which of the following contains information about the applicant's employment history,
previous compensation, reasons for leaving previous employment, education and
training, and references?
A. Job preview
B. Job description
C. Job application
D. Job analysis
E. Job enrichment
Answer:
Florals is a popular retail chain specializing in women's lingerie and perfume. It designs
the merchandise being sold in the store. Therefore, Florals is practicing _____.
A. channel expansion
B. scrambled merchandising
C. backward integration
D. horizontal integration
E. product diversification
Answer:
Which of the following statements is NOT true of a potential problem with appointing
vendors as category captains?
A. Appointing vendors as category captains makes merchandise management tasks
difficult for retailers.
B. Vendors could take advantage of their position by suggesting an assortment plan that
includes most of its SKUs and exclude other SKUs that contribute more so to the
retailer's profitability.
C. The vendor category captain could collude with the retailer to fix prices.
D. The vendor category captain could block other brands from access to shelf space.
E. The dependence on the vendor category captain may cause a retailer to miss
opportunity for increasing margins through their private-label SKUs.
Answer:
Lowe's and Best Buy would most likely be found in a _____ shopping center.
A. power
B. regional
C. strip
D. theme/festival
E. central-business
Answer:
What type of product will a consumer look for without regard to time, money, or effort?
A. Impulse product
B. Time-crunch product
C. Comparison product
D. Convenience product
E. Specialty product
Answer:
Retailers stimulate sales from customers engaged in extended problem solving by:
A. offering deep coupon discounts.
B. using prominent point-of-purchase displays to attract customers.
C. providing the required information in an understandable manner.
D. offering exclusive private-label brands.
E. encouraging impulse purchasing.
Answer:
When Benjamin purchased a camera at Best Buy, the cashier asked him for his home
zip code. Which of the following approaches was Best Buy using to identify the trade
area for the store?
A. Customer clustering
B. Residential research
C. Financial demographics
D. Geographic research
E. Customer spotting
Answer:
Diana wanted a German shorthaired pointer after seeing it win the Best in Show Award
at the dog show. She searched on the Westminster Kennel Club website for a breeder
and found one in Greenville, South Carolina. She was sure this was the breed she
wanted; she was willing to pay the expense to travel to Greenville and purchase the
puppy. This type of shopping is:
A. demand-oriented service-provider.
B. specialty shopping.
C. ultimate provider.
D. internet shopping.
E. supply-oriented service-provider.
Answer:
Which of the following steps is typically the previous step before evaluating the
strategic alternatives in the strategic retail planning process?
A. Defining the business mission
B. Establishing specific objectives
C. Identifying strategic opportunities
D. Developing a retail mix
E. Evaluating performance
Answer:
Angel's oldest associate Betty complained that she was bored and was thinking of
looking for a different job. Instead of letting her go, Angel decided to utilize her life
experience and asked Betty if she would be responsible for organizing departmental
social events and the weekly visual displays. This suggestion, giving Betty a task she
would enjoy doing, would be an example of _____.
A. intrinsic rewards
B. extrinsic rewards
C. job enrichment
D. job description
Answer:
Which of the following is an example of an incentive that retailers most commonly use?
A. Health care
B. Educational allowance
C. Bonus
D. Child care
E. Estate planning
Answer:
Which of the following is the formula for calculating click-through rate?
A. Number of impressions + The number of times a user clicks on ad
B. The number of times a user clicks on an ad - Number of impressions
C. The number of times a user clicks on ad * Number of impressions
D. The number of times a user clicks on an ad/Number of impressions
E. Number of impressions - The number of times a user clicks on ad
Answer:
Orientation programs _____.
A. are controlled and regulated by the federal government
B. are required by the Equal Employment Opportunity Commission
C. are controlled and regulated by the state governments
D. should not last longer than one day, or they become ineffective
E. are critical to the socialization of a new employee
Answer:
If a U.S. retailer wants to conform to the European policies concerning how customer
information is collected, which type of policy should it adopt?
A. Opt in
B. Opt out
C. Opt private
D. Opt EC
E. 80-20 rule
Answer:
Which of the following statements is true of radio frequency identification devices?
A. They facilitate interpersonal communication between vendors and retailers.
B. They transmit data about the objects in which they are embedded.
C. They help in gathering data about the spending habits of customers.
D. They facilitate interpersonal communication between retailers and consumers.
E. They help in gathering data about the preferences of customers.
Answer:
What ratio should a retailer use to best compare the performance of cashmere sweaters
versus cotton sweaters?
A. Cost of goods sold percent
B. Gross margin percent
C. Operating expense percent
D. Fixed expense percent
E. Variable expense percent
Answer:
Which of the following retail analytic applications involves the use of search techniques
to gain insights into customers' buying patterns?
A. Factor analysis
B. Regression analysis
C. Data mining
D. Data scraping
E. Data cloning
Answer:
Which of the following statements is not true in describing the size of trade area?
A. Convenience stores' trade areas are relatively small.
B. Category specialists have relatively large trade areas.
C. A retailer like Starbucks has a large trade area.
D. A retailer like IKEA has large trade areas.
E. A retailer like Best Buy has large trade areas.
Answer:
Which of the following is an integral part of the strategic profit model?
A. Retained earnings
B. Asset turnover
C. Inventory turnover
D. Current liabilities
E. Gross margin
Answer:
Autumn calls the most reputable plumber in the community to repair the faucet in her
kitchen. She pays the plumber for his work. However, the next day, Autumn sees the
faucet leaking again and is stunned to see the repair was done with a strip of duct tape.
This reaction from Autumn can be attributed to a(n) _____.
A. faulty service agreement
B. procedural fairness
C. services cape
D. service gap
E. motivational guide
Answer:
Which of the following statements is a reason why U.S. retailers avoid opening stores
in the inner city?
A. The retailers keep away from the inner city because of the rising cost of real estate.
B. The retailers keep away from the inner city because of stringent government
regulations.
C. The retailers think these stores are riskier and produce lower returns than other areas.
D. The retailers keep away from the inner city because of the lack of competent human
resources.
E. The retailers keep away from the inner city because of complications in the supply
chain.
Answer:
Habitual decision making occurs when:
A. a decision process involves little or no conscious effort.
B. a decision requires assistance from sales associates.
C. the purchase decision involves a lot of risk and uncertainty.
D. retailers stimulate sales by suggesting complementary merchandise.
Answer:
A shopper is most likely to receive standardized customer service in _____.
A. McDonald's
B. Nordstrom
C. Ritz Carlton Hotel
D. Bass Pro Shops
E. Marriot Hotel
Answer:
_____ is an unlawful, deceptive practice which lures customers into a store by
advertising a product at a lower-than-normal price and then, once they are in the store,
induces them to purchase of higher-priced model.
A. Predatory pricing
B. Horizontal price fixing
C. Bait and switch
D. Scanned pricing
E. Dynamic pricing
Answer:
Impulse buying is associated with:
A. extended problem solving.
B. complex decision making.
C. limited problem solving.
D. habitual decision making.
E. composite segmentation.
Answer:
Popular national brands are placed next to a manufacturer's brands in a store and look
like them. This kind of brand is called a(n) _____.
A. premium brand
B. generic brand
C. copycat brand
D. exclusive brand
E. licensed brand
Answer:
_____ is the practice of offering two or more different products or services for sale at
one price.
A. Price bundling
B. Psychological pricing
C. Price grouping
D. Conjoint bundling
E. Price lining
Answer:
