Question 1

Every store has a "look" and a physical layout that makes it hard or easy to move around.These elements constitute a store's ________.

Accepted Answer

A) layout 
B) transition zone 
C) atmosphere 
D) brands 
E) none of the above 
A) layout 
B) transition zone 
C) atmosphere 
D) brands 
E) none of the above C

Question 2

Paco Underhill,managing director of the retail consultancy Envirosell Inc. ,offers several tips for fine-tuning retail space in order to keep shoppers spending.List three of them.

Accepted Answer

Paco Underhill offers the following advice: (1)Attract shoppers and keep them in the store; (2)honor the "transition zone"; (3)don't make consumers hunt; (4)make merchandise available to the reach and touch; (5)note that men do not ask questions; (6)remember that women need space;and (7)make checkout easy.

Question 3

The logistics system must be information intensive and establish electronic links among all the significant parties.

Accepted Answer

A) True 
 B)False  True

Question 4

The retailer must decide on product-assortment breadth and ________.

Accepted Answer

A) store location 
B) layout 
C) prices 
D) selection 
E) depth 
A) store location 
B) layout 
C) prices 
D) selection 
E) depth

Question 5

Customers who like to be waited on prefer to shop in stores that offer ________.

Accepted Answer

A) limited service 
B) self-service 
C) full service 
D) part-time service 
E) events and experiences 
A) limited service 
B) self-service 
C) full service 
D) part-time service 
E) events and experiences

Question 6

Companies are reducing inventory costs by treating inventory items differently.Critical items defined as high risk,high opportunity and commodities defined as low risk,high opportunity.Recently,your company has introduced a product that is considered by the distributor a "bottleneck" item.What is the risk/reward relationship for bottleneck items?

Accepted Answer

A) Low risk,mediocre opportunity 
B) Low risk,high opportunity 
C) Low risk,low opportunity 
D) High risk,high opportunity 
E) High risk,low opportunity 
A) Low risk,mediocre opportunity 
B) Low risk,high opportunity 
C) Low risk,low opportunity 
D) High risk,high opportunity 
E) High risk,low opportunity

Question 7

How has the growth of giant retailers threatened traditional retailers?

Accepted Answer

Through their superior information syste

Question 8

All of the benefits in a franchising system accrue to the franchisor because the franchisor is able to concentrate the risk and effort associated with running a store in the hands of the franchisee.

Accepted Answer

A) True 
 B)False

Question 9

Some intermediaries use strategic planning,advanced information systems,sophisticated marketing tools,measure performance on a return-on-investment basis,segment their markets,improve their target marketing and positioning,and ________.

Accepted Answer

A) contend with dwindling customer bases 
B) aggressively "squeeze" manufacturer margins 
C) aggressively pursue takeover strategies 
D) dominant the manufacturers they do business with 
E) aggressively pursue market expansion and diversification strategies 
A) contend with dwindling customer bases 
B) aggressively "squeeze" manufacturer margins 
C) aggressively pursue takeover strategies 
D) dominant the manufacturers they do business with 
E) aggressively pursue market expansion and diversification strategies

Question 10

Intermediaries include retailers,________,and logistical organizations.

Accepted Answer

A) Internet companies 
B) wholesalers 
C) competitors 
D) box stores 
E) none of the above 
A) Internet companies 
B) wholesalers 
C) competitors 
D) box stores 
E) none of the above

Question 11

________ is(are)a key positioning factor for retailers and must be decided in relation to the target market,the product-and-service assortment mix,and the competition.

Accepted Answer

A) Hours of operation 
B) Advertisement 
C) Locations 
D) Prices 
E) Assortment 
A) Hours of operation 
B) Advertisement 
C) Locations 
D) Prices 
E) Assortment

Question 12

Inventory-carrying costs represent substantial dollars for manufacturers.These inventory-carrying costs include storage charges,cost of capital,taxes and insurance,and depreciation and obsolescence.Carrying costs might run as high as ________ of the value of the inventory.

Accepted Answer

A) 70% 
B) 40% 
C) 25% 
D) 30% 
E) 50% 
A) 70% 
B) 40% 
C) 25% 
D) 30% 
E) 50%

Question 13

A brand developed by a retailer and/or wholesaler that is available only in selected retail outlets is called a _________ brand.

Accepted Answer

A) national 
B) household 
C) premium 
D) selective 
E) private-label 
A) national 
B) household 
C) premium 
D) selective 
E) private-label

Question 14

Why must retailers begin by defining their target market before making any other marketing decisions?

Accepted Answer

Until the target market is def

Question 15

Retailers must make marketing decisions in the areas of product assortment and procurement,services and store atmosphere,prices,communications,locations,and ________.

Accepted Answer

A) niche 
B) style 
C) shoppers 
D) target market 
E) procedures 
A) niche 
B) style 
C) shoppers 
D) target market 
E) procedures

Question 16

In general,wholesalers are efficient in performing specific functions.List these nine functions.

Accepted Answer

These nine are: (1)selling and promoting

Question 17

One of the up and coming trends in retailing is the growth of giant retailers,known as category killers and supercenters.

Accepted Answer

A) True 
 B)False

Question 18

You have ideas of owning a Subway after graduation.In owning a Subway location,you are entering a ________ agreement.

Accepted Answer

A) voluntary 
B) self-service 
C) franchise 
D) merchandising 
E) none of the above 
A) voluntary 
B) self-service 
C) franchise 
D) merchandising 
E) none of the above

Question 19

The "wheel-of-retailing" hypothesis explains one reason that new store types emerge.Explain this hypothesis and delineate the four service levels available to retailers.

Accepted Answer

The "wheel-of-retailing" hypothesis stat

Question 20

________ is the cornerstone of all discount operations.

Accepted Answer

A) Self-service 
B) Self-selection 
C) Limited service 
D) Full service 
E) Custom service 
A) Self-service 
B) Self-selection 
C) Limited service 
D) Full service 
E) Custom service

Exam 16: Managing Retailing, wholesaling, and Logistics

Every store has a "look" and a physical layout that makes it hard or easy to move around.These elements constitute a store's ________.

Paco Underhill,managing director of the retail consultancy Envirosell Inc. ,offers several tips for fine-tuning retail space in order to keep shoppers spending.List three of them.

The logistics system must be information intensive and establish electronic links among all the significant parties.

The retailer must decide on product-assortment breadth and ________.

Customers who like to be waited on prefer to shop in stores that offer ________.

How has the growth of giant retailers threatened traditional retailers?

All of the benefits in a franchising system accrue to the franchisor because the franchisor is able to concentrate the risk and effort associated with running a store in the hands of the franchisee.

Some intermediaries use strategic planning,advanced information systems,sophisticated marketing tools,measure performance on a return-on-investment basis,segment their markets,improve their target marketing and positioning,and ________.

Intermediaries include retailers,________,and logistical organizations.

________ is(are)a key positioning factor for retailers and must be decided in relation to the target market,the product-and-service assortment mix,and the competition.

Inventory-carrying costs represent substantial dollars for manufacturers.These inventory-carrying costs include storage charges,cost of capital,taxes and insurance,and depreciation and obsolescence.Carrying costs might run as high as ________ of the value of the inventory.

A brand developed by a retailer and/or wholesaler that is available only in selected retail outlets is called a _________ brand.

Why must retailers begin by defining their target market before making any other marketing decisions?

Retailers must make marketing decisions in the areas of product assortment and procurement,services and store atmosphere,prices,communications,locations,and ________.

In general,wholesalers are efficient in performing specific functions.List these nine functions.

One of the up and coming trends in retailing is the growth of giant retailers,known as category killers and supercenters.

You have ideas of owning a Subway after graduation.In owning a Subway location,you are entering a ________ agreement.

The "wheel-of-retailing" hypothesis explains one reason that new store types emerge.Explain this hypothesis and delineate the four service levels available to retailers.

________ is the cornerstone of all discount operations.

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Gathering Information and Scanning the Environment

Conducting Marketing Research and Forecasting Demand

Creating Customer Value, satisfaction, and Loyalty

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning

Dealing With Competition

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing

Designing and Managing Integrated Marketing Communications

Managing Mass Communications:

Managing Personal Communications:

Introducing New Market Offerings

Tapping Into Global Markets

Managing a Holistic Marketing Organization

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