Which statement concerning customer service is correct?
a. Customer service only concerns a retailer’s intangible activities.
b. Different people almost always judge a retailer’s customer service in a similar
manner.
c. People’s assessment of customer service depends on perceptions€not necessarily
reality.
d. Customer service only concerns a retailer’s tangible activities.
A retailer can determine how consumers perceive the company relative to its retail
category and its competitors through _____.
a. positioning
b. situation analysis
c. target market assessment
d. control analysis
A retailer’s net sales equals $1,000,000; its accounts receivables are $150,000. Its
collection period is _____ days.
a. 6
b. 15
c. 47
d. 55
A major competitive advantage of independent retailers is _____.
a. a good fit with other owned units
b. flexibility in devising retail strategy
c. quantity discounts in purchasing
d. specialization of retail functions
Huff’s law of shopper attraction improved Reilly’s law of retail gravitation by adding a
consideration of _____.
a. customer demographics
b. product assortment of the items carried at various shopping locations
c. customer lifestyles
d. a store’s promotional effectiveness
A retailer can most effectively improve its cash flow through _____.
a. the use of scrambled merchandising
b. the use of prototype stores
c. purchasing its property versus leasing
d. securing more favorable terms from vendors
Which of these category management measures is most similar to inventory turnover?
a. return on inventory investment
b. gross profit per linear foot of shelf space
c. days supply
d. direct product profitability
Which type of shopping center has a relatively large number of destination stores?
a. power center
b. enclosed regional mall
c. community shopping center
d. central business district
The largest form of shopping center is the _____.
a. central business district
b. megamall
c. community shopping center
d. power center
Uniformity of retail image is not a problem for _____.
a. independent retailers
b. chains
c. franchises
d. leased department lessees
The ranking of people within a culture is a reference-group affiliation status report.
Formal buying organizations are most likely to be found in small independent retailers.
Direct selling and conventional vending machines are generally considered as forms of
direct marketing.
Price-, service-, and status-oriented shoppers each have very similar perceptions of
value.
Computerized checkout systems allow retailers to develop up-to-date sales reports.
In studying store composition in a retail location, both retail balance and store affinities
need to be examined.
Top-down budgeting is a more participatory procedure than bottom-up budgeting.
While a fad generates sales for only a short time period, an extended fad’s residual sales
can continue for a long time (but at a fraction of early sales).