As a rule, truly one-way exclusive dealing arrangements between vendors and retailers
are:
a. legal.
b. illegal.
c. illegal only if they involve a chain store.
d. legal in every state but Minnesota.
e. illegal if they involve a weak manufacturer.
_____ regulate the importing and exporting activities of American firms.
a. Tying agreements
b. Trade agreements
c. Zoning laws
d. Unfair trade practices
e. Blue laws
The three processes that help facilitate engagement are:
a. interfacing, assessment and enabling.
b. interaction, assessment and enabling.
c. interfacing, enabling and co-producing.
d. interaction, experiencing and connecting.
e. interfacing, experiencing, and connecting.
_____ is the buffer that people have created between themselves and the raw physical
environment and includes the characteristics of the population, humanly created
objects, and mobile physical structures.
a. Culture
b. Nationalism
c. Spirit
d. Logic
e. Humanity
The mass merchandising strategy is based upon all of the following EXCEPT:
a. low prices.
b. lowering customer service.
c. increasing customer service.
d. overloading the store with merchandise.
e. increasing inventory.
Which type of store design is sometimes called a racetrack?
a. Grid
b. Circle
c. Free flow
d. Loop
e. Flexible
The major facilitating institution involved in storage is the:
a. private warehouse.
b. in-transit warehouse.
c. demand collection channel.
d. contract warehouse.
e. public warehouse.
A retailer seeks to ensure that the indoor temperature is within the highest standards of
comfort. This policy is an example of:
a. price management.
b. building and fixture management.
c. promotion management.
d. credit management.
e. environmental management.
_____ pricing occurs when the price of each unit as a multi-unit package is less than the
price of each unit if it were sold individually.
a. Bundle
b. One-price
c. Leader
d. Loss leader
e. Multiple-unit
Vertical marketing channels attempt to:
a. increase channel effectiveness but not channel efficiency.
b. minimize the suboptimization of the channel.
c. increase channel efficiency while minimizing channel effectiveness.
d. maximize the suboptimization of the channel.
e. coordinate activities among retailers.
Which of the following questions should NOT be used to assess the quality of retail
competition in a particular geographic market?
a. What is their market share?
b. How promotion oriented are they?
c. How price oriented are they?
d. How customer oriented are they?
e. How long they have been in business?
_____ occurs when customers or individuals disguised as customers steal merchandise
from the retailer’s store.
a. Vendor collusion
b. Vendor theft
c. Shorting
d. Employee theft
e. Customer theft
An income statement:
a. shows the estimated cash inflows and outflows for the period.
b. gives the retailer a summary of the firm’s financial position at a given point in time.
c. is usually only prepared when the retailer is seeking to obtain a loan.
d. provides a summary of the sales and expenses for a given time period.
e. is the only financial statement that shows the retailer’s retained earnings.
If a retailer has set its primary objective as gaining 5 percent of market share, it is
focusing on a _____ objective.
a. productivity performance
b. consumer choice
c. merchandise productivity
d. market performance
e. competition-oriented
Which of the following is true about a retailing career?
a. Since retailing is so diverse, all individuals are suited for a retail career.
b. A career in retailing is limited to those living in densely populated areas.
c. Starting salaries are higher in retailing than in most other careers.
d. The potential for retail career advancement is high.
e. Nationally, the number of careers in retailing is expected to decline over the next
decade.
Due to the ever-changing retail marketplace, the store manager has initiated many novel
ideas and solutions to increase overall store sales. The manager is demonstrating which
desirable retailing attribute?
a. Prioritizing
b. Leadership
c. Creativity
d. Hard Work
e. Enthusiasm
When setting goals and objectives, a retailer has a variety of objectives from which to
choose. Please list and explain these objectives. How will each of these objectives
influence the way in which the retailer conducts its operations?
Service involves doing something of benefit for the customer, suppliers, and employees.
The key difference between a primary and a facilitating marketing institution relates to
whether the member takes title of goods.
Second-generation Hispanic Americans, who have been immersed in American culture,
are very similar in their shopping behavior to foreign-born Hispanics.
Growth opportunities for domestic retailers in the coming years should be the greatest
in the West and South, since these regions of the country have experienced the largest
growth over the past 200 years.
The resource advantage theory explains why Dollar General stores can survive in the
same markets with larger discounters.