Which group is not reflected in the traditional family life cycle?
a. solitary retired
b. single-parent families
c. young marrieds
d. old aged
The most common form of planned shopping center is the _____.
a. neighborhood shopping center
b. regional shopping center
c. community shopping center
d. string
The difficulty in classifying consumers by a given demographic and lifestyle profile is
recognized in which of these categories?
a. consumer sophistication and confidence
b. gender roles
c. component lifestyles
d. poverty of time
In Reilly’s law of retail gravitation, the point of indifference is _____.
a. the customer’s perceived similarity between two competing retailers
b. the geographic breaking point at which shoppers are indifferent to shopping at either
of two cities
c. the limit of a city’s trading area
d. determined solely by the merchandising effectiveness of a city’s retail operations
A retailer able to develop a distinctive niche can utilize _____.
a. pricing at the market
b. unit pricing
c. pricing below the market
d. administered pricing
A major disadvantage of the partnership form of ownership and management is that it
_____.
a. is subject to double taxation
b. faces more government rules than other ownership forms
c. binds all partners to actions made by any individual partner acting on behalf of the
firm
d. may separate ownership from management
A computer retailer can purchase a discontinued notebook PC for $800 and wants to
obtain a 25 percent markup at retail. What retail price should be charged?
a. $800
b. $960
c. $1,000
d. $1,067
When a store grouping increases the trading area for each store, _____.
a. one store is a parasite
b. store affinities exist
c. trading-area overlap exists
d. an area is oversaturated
If a shopping center has proper retail balance, _____.
a. pedestrian and vehicular traffic counts are high
b. the store facilities for each merchandise or service classification is equal to the
location’s market size
c. transportation facilities are good
d. there are no parasite stores in the center
Which of these is an uncontrollable part of a retail strategy?
a. positioning
b. objectives
c. store location
d. consumers
Service quality can be standardized and made more efficient by _____.
a. greater dependence on the owner
b. automation
c. franchising
d. advertising
The major difference between a contest and a sweepstakes is _____.
a. that contests are aimed at repeat purchases
b. that contests are tied to patronage
c. the extent to which skill is involved in winning
d. the sponsorship
A significant disadvantage with the use of rationalized retailing is the _____.
a. high operating costs associated with standardization
b. poor possible fit with local tastes
c. loss of quantity discounts through volume purchasing
d. need for more personnel due to decentralized decisions
The difference between the initial markup and maintained markup is based on _____.
a. markdowns, added markups, shortages, and discounts
b. markdowns, shortages, and discounts
c. seasonality and style preferences
d. the need to match the prices of competitors
The Mazur plan most closely corresponds to which job classification system?
a. functional classification
b. product classification
c. geographic classification
d. combination organization