A narrow but deep product assortment characterizes _____.
a. department stores
b. specialty stores
c. variety stores
d. retail catalog showrooms
Prior to establishing a quick response (QR) inventory planning system, suppliers need
to rethink their _____.
a. credit terms and quantity discount schedule
b. quantity discount schedule and minimum order sizes
c. purchase prices and minimum order sizes
d. credit terms and minimum order sizes
The most widely practiced retail pricing technique is _____.
a. markup pricing
b. competition-oriented pricing
c. prestige pricing
d. demand-oriented pricing
An advantage of a retailer-generated credit card is _____.
a. no bad debt or slow-payment problems
b. no need for credit checks
c. low startup costs
d. the encouragement of store loyalty
Which management format is associated with decision making being limited to top
management or ownership?
a. professional manager system
b. centralized
c. owner-manager system
d. decentralized
A retailer gauges the effectiveness of a strategy through comparing its performance to a
high performance retailer. This illustrates _____.
a. downsizing
b. competitor analysis
c. benchmarketing
d. the sales opportunity grid
The need for store personnel by season, week, day, and time period is ascertained with
_____.
a. job standardization
b. workload forecasts
c. cross-training
d. time-based performance adjustments
(Net profit/net sales) equals _____.
a. asset turnover
b. profit margin
c. cost of goods sold
d. financial leverage
Micromerchandising is most likely to be implemented through a(n) _____ buying
organization.
a. formal
b. informal
c. decentralized
d. inside
Which of the following is a not a major disadvantage of Web-based retailing from a
retailer’s perspective?
a. the need to register with the appropriate search engines
b. the difficulty in accurately portraying color and texture
c. receiving Web-based sales from traditional bricks-and-mortar customers
d. the need to constantly maintain the Web site
The retailing concept is comprised of _____.
a. price orientation, social responsibility, and competitive defensibility
b. niche strategy, cost leadership, and market segmentation
c. customer orientation, coordinated effort, value driven, and goal orientation
d. short-run objectives, long-term strategy, implementable actions, and channel control
The use of virtual reality software to conduct research through a “virtual shopping
environment” is a part of _____.
a. a survey
b. observation
c. an experiment
d. simulation
Based upon an analysis of selected retail tasks that need to be performed in a given time
period, a retailer decided to rely on self-service. This illustrates the effective use of a(n)
_____.
a. workload forecast
b. operations blueprint
c. job standardization analysis
d. cross-training analysis
A current customer data base can be the most valuable asset to a direct marketer.
Logistics is a narrower concept than inventory management.
Two measures of retailer liquidity are the quick ratio and assets to net sales.
The model stock approach determines space needs for each department based on
assortment considerations.
Since services cannot be stockpiled, the effects of seasonality can be severe.
A retailer seeking to study store loyalty limited its sample to credit-card holders whose
last name began with the letters A through G. The firm used a probability sample.
Productivity gains through effective retailer-based energy management programs have
been quite small.