A fundamental concept of the value chain is the _____.
a. interrelationship among manufacturer, wholesaler, and retailer
b. independence of all channel members
c. notion that value is interpreted similarly by all final consumers
d. notion that value is affected by price alone
Which auditor provides a retailer with the highest level of objectivity?
a. outside auditor
b. company department manager
c. disguised auditor
d. company specialist
Planned shopping centers are concerned with retail balance in terms of one-stop
shopping appeals and to ensure _____.
a. visibility
b. an adequate economic base
c. a proper level of saturation
d. an adequate traffic count
A retailer’s gross margin equals $500,000. Its net sales are $1,000,000 and average
inventory at cost equals $250,000. Its GMROI is _____ percent.
a. 11.8
b. 47
c. 53.2
d. 200
A retailer has the greatest control over retail price setting in a(n) _____.
a. price war
b. regulated pricing environment
c. administered pricing environment
d. market pricing environment
The sales opportunity grid could best be used in conjunction with _____.
a. category management
b. bottom-up retail plans
c. short-run plans
d. top-down retail plans
A retailer seeks to determine the quality of sales personnel presentations. An
appropriate primary data collection technique is _____.
a. observation
b. a mail survey
c. an experiment
d. simulation
An appliance retailer sells only national brands of major appliances, displays all
products sold, delivers and installs appliances as part of the purchase price, and will
meet all advertised competitor prices. This illustrates the retailer’s _____.
a. organizational mission
b. store positioning
c. competitive advantage
d. satisfaction of publics
Accounting and legal services are examples of _____ services.
a. proforma
b. rented-goods
c. nongoods
d. owned-goods
Which service quality attribute deals with lost revenues that cannot be recouped?
a. access
b. perishability
c. reliability
d. variability
PayPal has become successful among consumers due to concerns with _____.
a. credit-card fraud
b. unsolicited E-mails
c. download time
d. graphics quality