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The regular products carried by a retailer constitute _____ merchandise.
a. fashion
b. staple
c. assortment
d. fad
The job titles of channel member salesperson, vice-president of real-estate, vendor
quality inspector, and channel member support person are most likely to be found in
what type of retail institution?
a. independent
b. consumer cooperative
c. leased department
d. franchisor
A camera retailer estimates that it can sell 1,000 rolls of film each year. Each roll costs
the retailer $1.50; holding costs equal 25 percent of unit costs; and order costs are $15
per order. The economic order quantity is _____ rolls.
a. 173
b. 283
c. 375
d. 500
Which disadvantage is common to both sole proprietorships and partnerships?
a. single taxation
b. complexity and costs in setting up
c. depersonalization
d. personal liability of owner(s)
A retailer can purchase a private-label bread for 59¼ a loaf. The bread sells for 89¼.
Total direct retailing costs for the bread (warehouse costs, direct labor, and spoilage)
equal 10¼ per loaf. In addition, 5¼ per loaf is charged for administrative overhead.
What is the direct product profitability per loaf?
a. 20¼
b. 30¼
c. 45¼
d. The answer cannot be determined from the information provided.
Big retailers attempt to destroy competition by selling goods and services at extremely
low prices in _____.
a. price discrimination
b. predatory pricing
c. bait-and-switch advertising
d. selling against the brand
Almost all electronic point-of-sale systems rely on _____.
a. videoconferencing
b. customer data bases
c. Universal Product Codes
d. electronic data interchange
Employee morale may be particularly affected by _____ space.
a. personnel
b. selling
c. merchandise
d. customer
The job titles of buyer, vice-president of operations, and merchandise vice-president are
more likely to be found in what type of retail institution?
a. independent
b. chain
c. leased department
d. franchise
Which of the following is not an example of feedback?
a. consumer complaints about inconsistent delivery times
b. government fines for excessive out-of-stock conditions on sale merchandise
c. the lack of a management succession plan for an independent retailer
d. high employee turnover among newly-recruited sales personnel
The collection period is affected by _____.
a. inventory turnover
b. whether domestic or imported merchandise is sold
c. vendor terms
d. normal selling terms to consumers
A disadvantage of maintaining a small inventory is _____.
a. high storage costs
b. high chance of deterioration
c. the high chance of stockouts
d. high insurance costs
The use of opinion leaders as sources of information comprises a social source of
information.
The need-satisfaction approach more closely fulfills the retailing concept than the
canned sales presentation.
A survey can be conducted through observation.
The differences between a basic information Web site and a full-scale, integrated Web
selling site are huge.
Retailers cannot exert channel control through private branding.
According to Reilly's law of retail gravitation, if two cities have populations of 100,000
and 400,000 people and are 20 miles apart, the point of indifference is located 6.7 miles
from the smaller city.
A top-down space management approach to planning is based on decentralized
operations planning.
