Direct product profitability for a new product over a three-year period can be assessed
through _____.
a. use of a sales opportunity grid
b. measuring a product’s sales potential
c. estimating holding costs
d. computing a product’s markup
Which aspect of retail computerization has had the greatest impact on retailing?
a. videoconferencing
b. debit card systems
c. the computerized checkout
d. self-service
Store security relates to both _____.
a. insurance and personal security
b. personal security and merchandise security
c. crisis management and pilferage control
d. safety management and crisis management
From the customer’s perspective, value is based on _____.
a. perceptions
b. quality alone
c. retailer benefits alone
d. price alone
A significant factor in the growth of factory outlets is the _____.
a. ability of outlets to purchase merchandise for cash
b. success of wholesale sales
c. success of catalog sales
d. desire/need for manufacturer control where discounted merchandise is to be sold
Cost-based inventory valuation systems are most useful to retailers with _____.
a. low pilferage/shrinkage
b. rapidly rising inventory valuations
c. low inventory turnover
d. high markdown levels
Retailer ownership of retail facilities is least common in what location type?
a. secondary business district
b. isolated store
c. neighborhood business district
d. regional shopping center
Under the basic Mazur plan, a buyer’s duties include _____.
a. controlling expenses and meeting departmental profit goals within his/her department
b. providing staff services to all of the retailer’s merchandising divisions
c. operating all branch units
d. being constantly on the sales floor to supervise selling personnel
A retail area with a perfect level of balanced tenancy is a(n) ____ area.
a. understored
b. saturated
c. overstored
d. charted
Which type of buying organization generally serves noncompeting retailers, offers
marketing research expertise, and sometimes sponsors private-label goods?
a. inside buying organization
b. outside buying organization
c. general buying organization
d. specialized buying organization
A weighted application blank _____.
a. is usually the first step in screening applicants
b. can be used for probing during an interview
c. determines which items correlate with job success
d. requires little interpretation
A snack bar located in a discount department store best illustrates _____.
a. solutions selling
b. co-branding
c. scrambled merchandising
d. micromerchandising
Channel relations are generally smoothest in which form of distribution?
a. selective distribution
b. intensive distribution
c. exclusive distribution
d. dual distribution
The need for unit pricing legislation is due to the existence of nonstandardized package
sizes.
Proper retail balance occurs when consumer demands for one-stop shopping are
satisfied.
The fringe trading area has the highest density of customers to population.
The traditional family life-cycle concept needs to be updated to reflect alternative
lifestyles such as childless couples and single-parent families.
A fully integrated vertical marketing system is unlikely to include an independent
retailer.
Franchises and chains often use prototype stores as a means of maintaining a consistent
image.
The perishability of services prevents the storage and shifting of services from low to
high demand periods.
Outshoppers generally patronize neighborhood retailers due to the desire to maintain
long-term social relationships with them.