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Which statement concerning vending machines is correct?
a. Over 95 percent of vending machine sales involve hot and cold beverages and food
items.
b. Eighty-five percent of vending machine sales involve cigarettes.
c. There has been significant growth in the sale of items priced above $5.00 in vending
machines.
d. Most vending machines are equipped with dollar bill changers.
Any items that a retailer owns with a monetary value are _____.
a. assets
b. current assets
c. fixed assets
d. net worth
A retailer can increase its accounts payable to net sales ratio by _____.
a. increasing its inventory turnover
b. paying accounts payable early to receive cash discounts
c. switching to vendors with net 45 versus net 30 terms
d. increasing its initial markup
A store that operates on a one-price policy _____.
a. rarely changes its prices
b. does not have special discounts for its most loyal customers
c. uses the same pricing schedule for all customers
d. does not have quantity discounts
Which statement concerning strategic planning is correct?
a. Strategic planning should be conducted once a year.
b. Strategic plans should emphasize pricing.
c. Strategic plans should be adhered to despite their success/failure.
d. Strategic planning is a continuous process throughout the year.
A retailer's actual GMROI was 25 percent, whereas its planned GMROI was 30 percent.
The retailer should perform _____.
a. benchmarking
b. retail performance indexing
c. gap analysis
d. opportunity cost analysis
A separate store organization should be utilized when _____.
a. branches are small and customer tastes are similar
b. branches are large and customer tastes vary by location
c. buying and selling functions need to be differentiated
d. stock needs to be transferred among branches
A firm's accounts receivables are $1,000,000; its net sales are $16,000,000. Its
collection period is _____ days.
a. 6
b. 23
c. 30
d. 67
A manufacturer's long-term sales potential is most limited in _____.
a. selective distribution
b. cooperative wholesaling
c. intensive distribution
d. exclusive distribution
A major problem associated with the sole proprietorship form of retail organization may
be _____.
a. management succession
b. unionization
c. double taxation
d. duality of objectives between management and ownership
A store-based retailer that uses the Web to expand its target market has evolved from
_____ to _____.
a. single-channel retailing; multi-channel retailing
b. mass marketing; concentrated marketing
c. differentiated marketing; mass marketing
d. independent; a fully integrated vertical marketing system
A retail audit should be conducted with what minimum time frequency?
a. every 5 years
b. every 3 years
c. yearly
d. semiannually
Independent retailer organizations are generally characterized by centralized decision
making and by minimal layers of management personnel.
The factors that result in job satisfaction and job dissatisfaction are quite similar.
Dump bin displays are frequently used to stock marked-down items.
In general, regression-based computer site selection models are simpler than
analog-based computer site selection models.
An important source of information about consumer demand is the want book or want
slip.
Customer returns, product recalls, and deposit bottles all involve reverse logistics for
the retailer.
In contrast to department stores, specialty stores carry a narrow, but deep assortment of
products and tailor strategy towards selective market segments.
Each month's sales are divided by total yearly sales and then multiplied by 100 to
compute the monthly sales index.
Central business districts and regional shopping centers generally have a similar retail
tenant mix.
Stock shortages may be due to pilferage, bookkeeping errors, and undershipments by
vendors.
