Question 1

What is the retailer's role in a supply chain?

Accepted Answer

A retailer is a business that sells prod

Question 2

A(n) ________ is a set of firms that make and deliver a given set of goods and services to the ultimate consumer.

Accepted Answer

A)  supply chain 
B)  buying network 
C)  economic network 
D)  integrated wholesale network 
E)  extended enterprise 
A)  supply chain 
B)  buying network 
C)  economic network 
D)  integrated wholesale network 
E)  extended enterprise

Question 3

Increasing intertype competition has made it harder for retailers to identify their

Accepted Answer

A)  competition. 
B)  target market. 
C)  merchandise mix. 
D)  retail mix. 
E)  price points. 
A)  competition. 
B)  target market. 
C)  merchandise mix. 
D)  retail mix. 
E)  price points.

Question 4

Which of the following is an example of a decision that involves business ethics?

Accepted Answer

A)  A retailer decides to close a location where sales have decreased. 
B)  A retailer decides to start a customer loyalty program. 
C)  A retailer decides to use a celebrity in an advertising campaign. 
D)  A retailer decides to have its salespeople adopt a high-pressure sales approach when dealing with all customers. 
E)  A retailer decides to manage its own distribution center. 
A)  A retailer decides to close a location where sales have decreased. 
B)  A retailer decides to start a customer loyalty program. 
C)  A retailer decides to use a celebrity in an advertising campaign. 
D)  A retailer decides to have its salespeople adopt a high-pressure sales approach when dealing with all customers. 
E)  A retailer decides to manage its own distribution center.

Question 5

Why is it imperative that manufacturers like Hewlett-Packard and Procter & Gamble understand the operations of retailers?

Accepted Answer

A)  To sell directly online 
B)  To encourage retailers to offer and promote their products 
C)  To develop strategies for selling without retailers 
D)  Retailers can expect fewer buyouts to occur 
E)  To have a wide assortment of products for customers to choose from 
A)  To sell directly online 
B)  To encourage retailers to offer and promote their products 
C)  To develop strategies for selling without retailers 
D)  Retailers can expect fewer buyouts to occur 
E)  To have a wide assortment of products for customers to choose from

Question 6

Retailers do not perform traditional business activities.

Accepted Answer

A) True 
 B)False

Question 7

Why do retailers hire people with varied expertise and interests?

Accepted Answer

Retailers are businesses and, like manuf

Question 8

The retail sector plays a key role in developed economies.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following is not an example of intertype competition?

Accepted Answer

A)  A supermarket and a fresh flower stand 
B)  A coffee shop and a fast food restaurant 
C)  A supercenter and a pharmacy 
D)  An American Eagle store and a Macy's store 
E)  A Target store and a Walmart store 
A)  A supermarket and a fresh flower stand 
B)  A coffee shop and a fast food restaurant 
C)  A supercenter and a pharmacy 
D)  An American Eagle store and a Macy's store 
E)  A Target store and a Walmart store

Question 10

Retail information and supply chain management systems help retailers to do all of the following except

Accepted Answer

A)  gain strategic advantages. 
B)  monitor the flow of information and merchandise. 
C)  make sure desired merchandise is available when customers want it. 
D)  minimize the retailer's inventory investment. 
E)  avoid class action lawsuits. 
A)  gain strategic advantages. 
B)  monitor the flow of information and merchandise. 
C)  make sure desired merchandise is available when customers want it. 
D)  minimize the retailer's inventory investment. 
E)  avoid class action lawsuits.

Question 11

________ occurs when a manufacturer undertakes retailing and wholesaling activities.

Accepted Answer

A)  Merchandising 
B)  Exclusive dealing 
C)  Backward integration 
D)  Horizontal integration 
E)  Forward integration 
A)  Merchandising 
B)  Exclusive dealing 
C)  Backward integration 
D)  Horizontal integration 
E)  Forward integration

Question 12

How do retailers use customer transaction data?

Accepted Answer

Many retailers now use the data they hav

Question 13

The retail strategy helps a retailer to identify all of the following except:

Accepted Answer

A)  the target market toward which the retailer will direct its efforts. 
B)  the nature of the merchandise and services the retailer will offer to satisfy the needs of the target market. 
C)  how the retailer will build a long-term advantage over its competitors. 
D)  how to determine the break-even point for making profits. 
A)  the target market toward which the retailer will direct its efforts. 
B)  the nature of the merchandise and services the retailer will offer to satisfy the needs of the target market. 
C)  how the retailer will build a long-term advantage over its competitors. 
D)  how to determine the break-even point for making profits.

Question 14

How have retailers incorporated corporate social responsibility (CSR) into their activities?

Accepted Answer

Corporate social responsibility (CSR) in

Question 15

A retailer's role in a supply chain is to

Accepted Answer

A)  act as the liaison between manufacturers and suppliers. 
B)  buy merchandise exclusively from the manufacturers. 
C)  negotiate with manufacturers to draw contracts for wholesalers. 
D)  add value to products and services sold to customers. 
E)  sell goods and services to wholesalers. 
A)  act as the liaison between manufacturers and suppliers. 
B)  buy merchandise exclusively from the manufacturers. 
C)  negotiate with manufacturers to draw contracts for wholesalers. 
D)  add value to products and services sold to customers. 
E)  sell goods and services to wholesalers.

Question 16

How do retail information and supply chain management help retailers gain a strategic advantage?

Accepted Answer

Retail information and supply chain mana

Question 17

________ are the principles governing the behavior of individuals and companies that establish appropriate behavior and indicate what is right and wrong.

Accepted Answer

A)  Ethics 
B)  Acts 
C)  Training guidelines 
D)  Company traditions 
E)  Legislations 
A)  Ethics 
B)  Acts 
C)  Training guidelines 
D)  Company traditions 
E)  Legislations

Question 18

Which of the following is a critical asset that enables retailers to build strategic advantages?

Accepted Answer

A)  Holding inventory 
B)  Breaking bulk 
C)  Providing services 
D)  Scrambled merchandising 
E)  Supply chain organization 
A)  Holding inventory 
B)  Breaking bulk 
C)  Providing services 
D)  Scrambled merchandising 
E)  Supply chain organization

Question 19

Hotels, hair salons, and auto repair businesses are considered retailers.

Accepted Answer

A) True 
 B)False

Question 20

Refer to the most current list of top global retailers provided on www.nrf.com. List the top five retailers and compare to the year before; discuss any changes.

Accepted Answer

1 Walmart
2 Costco
3

What is the retailer's role in a supply chain?

A(n) ________ is a set of firms that make and deliver a given set of goods and services to the ultimate consumer.

Increasing intertype competition has made it harder for retailers to identify their

Which of the following is an example of a decision that involves business ethics?

Why is it imperative that manufacturers like Hewlett-Packard and Procter & Gamble understand the operations of retailers?

Retailers do not perform traditional business activities.

Why do retailers hire people with varied expertise and interests?

The retail sector plays a key role in developed economies.

Which of the following is not an example of intertype competition?

Retail information and supply chain management systems help retailers to do all of the following except

________ occurs when a manufacturer undertakes retailing and wholesaling activities.

How do retailers use customer transaction data?

The retail strategy helps a retailer to identify all of the following except:

How have retailers incorporated corporate social responsibility (CSR) into their activities?

A retailer's role in a supply chain is to

How do retail information and supply chain management help retailers gain a strategic advantage?

________ are the principles governing the behavior of individuals and companies that establish appropriate behavior and indicate what is right and wrong.

Which of the following is a critical asset that enables retailers to build strategic advantages?

Hotels, hair salons, and auto repair businesses are considered retailers.

Refer to the most current list of top global retailers provided on www.nrf.com. List the top five retailers and compare to the year before; discuss any changes.

Types of Retailers

Multichannel and Omnichannel Retailing

Customer Buying Behavior

Retail Market Strategy

Financial Strategy

Retail Locations

Retail Site Location

Information Systems and Supply Chain Management

Customer Relationship Management

Managing the Merchandise Planning Process

Buying Merchandise

Retail Pricing

Retail Communication Mix

Human Resources and Managing the Store

Store Layout, Design, and Visual Merchandising

Customer Service

Filters

Exam 1: Introduction to the World of Retailing

What is the retailer's role in a supply chain?

A(n) ________ is a set of firms that make and deliver a given set of goods and services to the ultimate consumer.

Increasing intertype competition has made it harder for retailers to identify their

Which of the following is an example of a decision that involves business ethics?

Why is it imperative that manufacturers like Hewlett-Packard and Procter & Gamble understand the operations of retailers?

Retailers do not perform traditional business activities.

Why do retailers hire people with varied expertise and interests?

The retail sector plays a key role in developed economies.

Which of the following is not an example of intertype competition?

Retail information and supply chain management systems help retailers to do all of the following except

________ occurs when a manufacturer undertakes retailing and wholesaling activities.

How do retailers use customer transaction data?

The retail strategy helps a retailer to identify all of the following except:

How have retailers incorporated corporate social responsibility (CSR) into their activities?

A retailer's role in a supply chain is to

How do retail information and supply chain management help retailers gain a strategic advantage?

________ are the principles governing the behavior of individuals and companies that establish appropriate behavior and indicate what is right and wrong.

Which of the following is a critical asset that enables retailers to build strategic advantages?

Hotels, hair salons, and auto repair businesses are considered retailers.

Refer to the most current list of top global retailers provided on www.nrf.com. List the top five retailers and compare to the year before; discuss any changes.

Types of Retailers

Multichannel and Omnichannel Retailing

Customer Buying Behavior

Retail Market Strategy

Financial Strategy

Retail Locations

Retail Site Location

Information Systems and Supply Chain Management

Customer Relationship Management

Managing the Merchandise Planning Process

Buying Merchandise

Retail Pricing

Retail Communication Mix

Human Resources and Managing the Store

Store Layout, Design, and Visual Merchandising

Customer Service

Filters