The distinction between internal and external secondary data is based on the _____.
a. focus of the data (company or industry)
b. firm collecting the data (government or commercial research house)
c. cost of data collection
d. source of the data (within or outside the firm)
A retailer’s location strategy can be made more flexible through _____.
a. the use of longer-term leases
b. sale and leaseback arrangements
c. the use of renewal options versus a long-term lease
d. ownership versus leasing
Which of the following is not considered as a stimulus?
a. a physical drive
b. a motive
c. a commercial cue
d. a social cue
An advertisement in a local newspaper featuring a special price on ladies swimwear
illustrates a(n) _____ ad.
a. pioneer
b. reminder
c. competitive
d. institutional
Job analysis and description, an application blank, the interview, testing, references, and
a physical examination are all part of which human resource process?
a. recruitment of retail personnel
b. selection of retail personnel
c. supervision of retail personnel
d. compensation of retail personnel
A retailer would not conduct an audit unless it would involve the lowest incremental
costs possible. The retailer should consider using a(n) _____.
a. outside auditor
b. company specialist
c. company department manager
d. consultant
A slotting fee is a form of _____.
a. manufacturer-based channel power
b. retailer-based channel power
c. channel cooperation
d. promotional allowance
Franchisors and chains that desire a uniform image should consider _____.
a. prefabricated structures
b. prototype stores
c. recessed storefronts
d. modular structures
An example of customer space is _____.
a. an inventory storeroom
b. dressing facilities
c. a product display
d. a demonstration area
Administered pricing utilizes nonprice competition components such as _____.
a. price guarantees and price lining
b. quantity and seasonal discounts
c. bargaining and buyer power
d. selection and location
An example of a hidden asset to a retailer is _____.
a. a depreciated building
b. new cash registers
c. cash on hand
d. accounts receivable
Which of these is not a characteristic of a rationalized retailing strategy?
a. the use of prototype stores
b. the use of rigorous operating procedures for every phase of the business
c. a common store layout to all store units
d. decentralized management
Which audit is considered as a “retail strategy audit?”
a. disguised audit
b. vertical audit
c. undisguised audit
d. horizontal audit
Differences in customer preferences in chains’ branch locations are easily overlooked in
which retail organizational form?
a. centralized organization
b. separate store organization
c. equal store organization
d. main store control organization
Which asset is counted in determining a retailer’s quick ratio?
a. hidden assets
b. merchandise inventories
c. marketable securities
d. accounts receivable
Which retail institution is most likely to be an example of a destination store?
a. variety store
b. specialty store
c. category killer
d. superstore
A group of people sharing a distinctive heritage is a(n) _____.
a. culture
b. reference group
c. social class system
d. AIO group
An advantage of a bottom-up retail plan is the _____.
a. ability to keep the plan secret
b. ability to handle complex assumptions
c. active involvement of lower- and middle-level managers
d. ability to gain acceptance by senior-level retail personnel