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Respondent cooperation is not required in which primary data source?
a. personal survey
b. mail survey
c. telephone survey
d. observation
Goods which are highly visible and which consumers feel they are judged by have high
_____ perceived risk.
a. time
b. financial
c. physical
d. social
A sales opportunity grid evaluates retail good/service alternatives on the basis of _____.
a. sales per square feet
b. display costs
c. markup
d. net profit estimates
Planning and adapting to a complex, changing environment is the major focus of a(n)
_____ approach to the study of retailing.
a. historical
b. strategic
c. institutional
d. functional
A major disadvantage of extreme task specialization is _____.
a. high degree of work delegation
b. the need for more employees
c. boredom
d. high training time
A retailer is concerned with how to better compete with a newly-opened membership
club located 3 miles from its main store. What type of audit should be conducted?
a. horizontal audit
b. vertical audit
c. disguised audit
d. undisguised audit
A version of customary pricing is _____.
a. variable pricing
b. everyday low pricing
c. direct product profitability
d. maintained markup pricing
An example of a retailer's regularly reviewing operations is the _____.
a. appeal to a prime consumer market
b. use of a one-price policy
c. development of realistic sales and profit goals
d. ongoing analysis of sales and costs by product category
The most important disadvantage to the use of the American Community Survey data in
trading-area analysis is _____.
a. the substantial cost
b. the use of projections
c. lack of timeliness
d. use of county-based vs. narrower geographic areas
A major benefit to all parties of established channel roles is the _____.
a. development of long-term relationships among channel members
b. use of intensive distribution to foster consumer convenience
c. reduction in retail selling price due to private brands
d. development of a uniform image
Money left after paying taxes and buying necessities is referred to as _____.
a. GDP per capita
b. taxable income
c. discretionary income
d. disposable income
In a formal buying organization, the most valuable source of information in
implementing merchandise plans is _____.
a. competitors
b. trade associations
c. the consumer
d. suppliers
Two broad types of franchising arrangements are product/trademark franchising and
business format franchising.
A store classifying its offerings so that tennis shoes, tennis rackets, and tennis tops and
shorts are located together utilizes a market segment product grouping.
A comprehensive store security program needs to address both personal security and
merchandise security.
A value chain consists of both tangible and intangible product and service offerings.
Direct product profitability adjusts the gross margins of different products to reflect
differences in handling costs and selling costs.
Selective distribution has neither the channel cooperation found in exclusive
distribution nor the sales potential of intensive distribution.
Fulfillment operations are not a critical part of a Web-based strategy.
In an experiment, only the factor under investigation is manipulated; all other factors
remain constant.
A dinnerware retailer plans retail operating expenses to be 38 percent of sales, a net
profit margin of 5 percent of sales, and retail reductions to be 10 percent of sales. Its
required initial markup needs to equal 48 percent.
Promotion from within and job rotation to fight boredom are critical strategies to a firm
where management assumes that employees can be self-managers.
