Retail managers in individual departments have major input into decisions in a(n)
_____.
a. franchise system
b. centralized structure
c. owner-manager system
d. decentralized structure
Which of the following is an element of perceived risk?
a. physical risk
b. reference group risk
c. purchase risk
d. lifestyle risk
Which shopping orientation has the highest price sensitivity?
a. status-oriented consumers
b. personalizing consumers
c. economic consumers
d. assortment-oriented consumers
Merchandise is left in its original packing cartons in a(n) _____ display.
a. assortment
b. rack
c. cut case
d. dump bin
A vertical audit _____.
a. identifies the relative importance of each retailing mix element
b. focuses on separate functional elements
c. evaluates the environment facing a retailer: the economy, demographics, competition,
and consumers
d. is always nondisguised
The efficiency of a medium is typically evaluated in terms of its _____.
a. circulation
b. cost per page
c. cost per thousand
d. discounted advertising rate
A tool which lists all of the operating functions to be performed, their characteristics,
and their timing is a(n) _____.
a. job analysis
b. operations blueprint
c. job description
d. functional task blueprint
When proposed and existing stores have a very high trading-area overlap, _____.
a. many additional customers will be attracted to the proposed store
b. few additional customers will be attracted to the proposed store
c. the proposed store will focus on geographic weaknesses in the existing store
d. advertising will have to be assessed due to possible promotional waste
A respondent is always told the real purpose of a study in _____.
a. a mail survey
b. an experiment
c. observation
d. a nondisguised survey
The cost complement is the _____.
a. adjusted retail book value times gross margin
b. total cost of goods sold divided by total retail sales
c. total retail valuation times 0.7
d. total cost valuation divided by the total retail valuation
While chains account for about 30 percent of all retail establishments, they account for
what percent of total retail sales?
a. 30
b. 50
c. 75
d. 90
A retailer has a detailed labeling system on all toy products aimed at children less than
5 years old. This illustrates the right to _____.
a. be informed
b. redress
c. choose
d. service
Which merchandising personnel position in a retail chain oversees the execution of
merchandise selection and procurement for a particular segment of business?
a. buyer
b. associate buyer
c. store manager
d. divisional merchandise manager
Which retail philosophy directly focuses on maintaining long-term bonds with past
customers?
a. relationship retailing
b. coordinated effort
c. employee empowerment
d. a strategic approach to retailing
The use of shopping bots is associated with _____.
a. want books (want slips)
b. third-party logistics
c. comparison shopping
d. merchandise marts
Due to the intangible nature of services and the need for standardization of image,
business format franchising is more appropriate for service sponsor-retailer
arrangements than product/trademark franchising.
While they do not directly involve a store facility, Web transactions, mail-order sales,
direct selling, and vending machine sales are components of retailing.
Micromerchandising is compatible with rationalized retailing.
Despite the Robinson-Patman Act, large retail chains enjoy bargaining power
advantages, particularly when negotiating with smaller vendors.
Sales opportunity grids provide estimates of store and brand sales, and gross and net
profits for selected time periods.
An unplanned business district location has no adjacent retailers with which stores can
share traffic.