A string is composed of _____.
a. a supermarket or a variety store and convenience-oriented stores
b. at least one major department store and a broad group of specialty stores
c. at least one junior department store, a variety store, and service shops
d. stores with similar or compatible product lines
Which statement about a retailing effectiveness checklist is not correct?
a. The retailing effectiveness checklist enables the retailer to compute a total score
based on summing individual scores for each category.
b. The retailing effectiveness checklist is a type of retail audit.
c. The retailing effectiveness checklist enables retailers to rate performance in each
area.
d. The retailing effectiveness checklist is equally suited for small and large retailers.
An application of data mining is _____.
a. cost containment
b. micromarketing
c. value-based retailing
d. data-base management
Retail auditing procedures are standardized through the use of _____.
a. audit forms
b. nondisguised audits
c. disguised audits
d. vertical audits
The sharing of advertising expenses among members of a shopping center association is
referred to as a _____.
a. pioneer ad
b. competitive ad
c. horizontal cooperative advertising agreement
d. vertical cooperative advertising agreement
A major cost advantage associated with direct store delivery for a retailer is the _____.
a. mechanized processing of goods
b. reduction in warehouse expenses
c. efficient marking of merchandise
d. ease of returns
A major disadvantage of independent retailing is the _____.
a. limitation in bargaining power
b. latitude in selecting customer markets
c. high investment requirements
d. inflexibility in developing strategy
In an electronic debit payment plan, the purchase price _____.
a. must be paid by the consumer at the time the bill is received
b. must be paid by the consumer within 10 days of the time the bill is received
c. is immediately deducted from a consumer’s bank account and transferred to a
retailer’s account
d. can be financed through many different payment plans
Which shopping location has the greatest concentration of convenience stores?
a. neighborhood business district
b. secondary business district
c. central business district
d. regional shopping center
A clear statement of the topic to be studied involves which stage of the marketing
research process?
a. recommendations
b. issue (problem) definition
c. secondary data collection
d. implementation
Vending machine transactions are not considered part of direct marketing because
_____.
a. vending machines are located in offices, restaurants, and factories
b. consumers are solicited via in-person selling efforts
c. the transaction is not via mail, phone, fax, or computer
d. the average transaction is too low
Participation by incorrect respondents is a major problem in which survey?
a. telephone survey
b. personal survey
c. mail survey
d. observation
Which form of credit management system most closely resembles a check?
a. retailer-based credit system
b. debit management system
c. Discover card
d. MasterCard Express
Which retail strategy can be used by a retailer as a competitive advantage?
a. expected retail strategy
b. primary retail strategy
c. augmented retail strategy
d. secondary retail strategy
A furniture retailer has yearly sales of $1,800,000. Beginning-of-year inventory (at
cost) equals $400,000; ending inventory (at cost) is $270,000. The yearly purchases are
$700,000 and transportation charges are $5,700. The retailer’s gross profit equals
_____.
a. $735,700
b. $964,300
c. $1,000,000
d. $1,005,700
The basic Mazur plan places profit-and-loss responsibility on a department level with
which executive?
a. buyer
b. owner-manager
c. operations personnel
d. controller