Question 1

_____ are groups of retail outlets that operate under central ownership and management and handle the same product lines.

Accepted Answer

A)  Specialty stores 
B)  Chain stores 
C)  Variety stores 
D)  Department stores 
A)  Specialty stores 
B)  Chain stores 
C)  Variety stores 
D)  Department stores

Question 2

The combination of the retailing mix -- merchandise strategy, customer service standards, pricing guidelines, target market analysis, promotion goals, location/distribution decisions, and store atmosphere -- creates a retailer's ________.

Accepted Answer

A)  image 
B)  brand 
C)  competitive position 
D)  differential advantage 
A)  image 
B)  brand 
C)  competitive position 
D)  differential advantage

Question 3

The level of competition for business in the market is an important criterion considered by retailers while selecting the target market.

Accepted Answer

A) True 
 B)False

Question 4

Retailers must consider the overall profitability of each product line and product category to develop a successful merchandise mix.

Accepted Answer

A) True 
 B)False

Question 5

Home Depot hardware stores sell a wide variety of home improvement items including lumber, tools, and appliances, while smaller hardware store, Ace, focuses on just a few brands in each category and does not sell appliances. Although both are hardware stores, Ace and Home Depot differ on their:

Accepted Answer

A)  merchandising strategy. 
B)  customer service strategy. 
C)  promotional strategy. 
D)  location/distribution strategy. 
A)  merchandising strategy. 
B)  customer service strategy. 
C)  promotional strategy. 
D)  location/distribution strategy.

Question 6

For retailers, the decision on where to locate a store usually depends on just one or two factors.

Accepted Answer

A) True 
 B)False

Question 7

What is online retailing? How has the Internet enhanced the functions of the direct marketers?

Accepted Answer

Online retailers sell directly to custom

Question 8

Through direct selling, manufacturers completely bypass retailers and wholesalers and set up their own channels to sell their products directly to consumers.

Accepted Answer

A) True 
 B)False

Question 9

Chain stores are groups of retail outlets that operate under central ownership and management and handle the same product lines.

Accepted Answer

A) True 
 B)False

Question 10

Just Jerky makes jerky from bison, kangaroo, and alligator meat. Because of the unique aspect of the products, the company would like to maintain a premium product status and prices their jerky products higher than traditional beef jerky. The company would like to target hunters, campers, and hikers as their main customers.
-Just Jerky is considering selling their premium jerky products themselves, through an e-commerce store. Just Jerky would be utilizing:

Accepted Answer

A)  showrooming. 
B)  direct mail. 
C)  automatic merchandising. 
D)  online retailing. 
A)  showrooming. 
B)  direct mail. 
C)  automatic merchandising. 
D)  online retailing.

Question 11

Retailers are using direct mail in favor of digital advertisements.

Accepted Answer

A) True 
 B)False

Question 12

Coca-Cola just announced a new carbonated drink that will feature twice the caffeine as their regular sodas. Coca-Cola expects this new drink to be just as popular as their Coca-Cola and Diet Coke beverages. Which of the following type of store would not be a good location in which to sell this new drink?

Accepted Answer

A) Specialty retailers 
B) Convenience stores 
C) Grocery stores nationwide 
D) Chain stores 
A) Specialty retailers 
B) Convenience stores 
C) Grocery stores nationwide 
D) Chain stores

Question 13

REI stores feature climbing walls, mountain bike test tracks, and Gore-Tex rain rooms for trying out Gore-Tex rainwear. These features are part of REI's:

Accepted Answer

A)  store atmospherics. 
B)  merchandising strategy. 
C)  customer service strategy. 
D)  promotional strategy. 
A)  store atmospherics. 
B)  merchandising strategy. 
C)  customer service strategy. 
D)  promotional strategy.

Question 14

Which of the following statements is most likely to be true about a convenience retailer?

Accepted Answer

A)  It offers huge selections and low prices in single product lines. 
B)  It appeals to customers by having an accessible location, rapid checkout, extended store hours, and adequate parking. 
C)  It combines carefully defined product lines, services, and reputations in attempts to persuade consumers to expend considerable effort to shop at their stores. 
D)  It offers a complete array of services to its customers. 
A)  It offers huge selections and low prices in single product lines. 
B)  It appeals to customers by having an accessible location, rapid checkout, extended store hours, and adequate parking. 
C)  It combines carefully defined product lines, services, and reputations in attempts to persuade consumers to expend considerable effort to shop at their stores. 
D)  It offers a complete array of services to its customers.

Question 15

You are worried about adding too high a markup to the watches you sell at your jewelry store. To reduce this markup and still cover costs, you will focus on:

Accepted Answer

A)  increasing inventory turnover rate. 
B)  decreasing inventory turnover rate. 
C)  reducing the number of retail services you perform. 
D)  increasing the number of retail services you perform. 
E)  carefully judging the price that consumers are willing to pay for your jewelry. 
A)  increasing inventory turnover rate. 
B)  decreasing inventory turnover rate. 
C)  reducing the number of retail services you perform. 
D)  increasing the number of retail services you perform. 
E)  carefully judging the price that consumers are willing to pay for your jewelry.

Question 16

If merchandise selection changes frequently to follow fashion trends, advertising is typically used to promote current styles effectively.

Accepted Answer

A) True 
 B)False

Question 17

Convenience retail stores attract consumers by providing easy access, extended store hours, and adequate parking facilities.

Accepted Answer

A) True 
 B)False

Question 18

Other things being equal, stores with a higher inventory turnover rate can cover their costs and earn a profit while charging a smaller markup.

Accepted Answer

A) True 
 B)False

Question 19

Discuss the different types of direct marketing.

Accepted Answer

The different types of direct marketing

Question 20

Offering same day pickup and having items shipped to stores for free is part of a retailer's ______ strategy.

Accepted Answer

A)  customer service 
B)  location/distribution 
C)  promotional 
D)  merchandising 
A)  customer service 
B)  location/distribution 
C)  promotional 
D)  merchandising

_____ are groups of retail outlets that operate under central ownership and management and handle the same product lines.

The combination of the retailing mix -- merchandise strategy, customer service standards, pricing guidelines, target market analysis, promotion goals, location/distribution decisions, and store atmosphere -- creates a retailer's ________.

The level of competition for business in the market is an important criterion considered by retailers while selecting the target market.

Retailers must consider the overall profitability of each product line and product category to develop a successful merchandise mix.

Home Depot hardware stores sell a wide variety of home improvement items including lumber, tools, and appliances, while smaller hardware store, Ace, focuses on just a few brands in each category and does not sell appliances. Although both are hardware stores, Ace and Home Depot differ on their:

For retailers, the decision on where to locate a store usually depends on just one or two factors.

What is online retailing? How has the Internet enhanced the functions of the direct marketers?

Through direct selling, manufacturers completely bypass retailers and wholesalers and set up their own channels to sell their products directly to consumers.

Chain stores are groups of retail outlets that operate under central ownership and management and handle the same product lines.

Retailers are using direct mail in favor of digital advertisements.

REI stores feature climbing walls, mountain bike test tracks, and Gore-Tex rain rooms for trying out Gore-Tex rainwear. These features are part of REI's:

Which of the following statements is most likely to be true about a convenience retailer?

You are worried about adding too high a markup to the watches you sell at your jewelry store. To reduce this markup and still cover costs, you will focus on:

If merchandise selection changes frequently to follow fashion trends, advertising is typically used to promote current styles effectively.

Convenience retail stores attract consumers by providing easy access, extended store hours, and adequate parking facilities.

Other things being equal, stores with a higher inventory turnover rate can cover their costs and earn a profit while charging a smaller markup.

Discuss the different types of direct marketing.

Offering same day pickup and having items shipped to stores for free is part of a retailer's ______ strategy.

Marketing: the Art of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, Ethics, and Social Responsibility

E-Business: Managing the Customer Experience

Social Media: Living in the Connected World

Consumer Behavior

Business Markets and Buying Behavior

Global Marketing

Market Segmentation, Targeting, and Positioning

Marketing Research

Product and Branding Concepts

Developing and Managing Products

Pricing Concepts

Pricing Strategies

Distribution Channels and Supply Chain Management

Integrated Marketing Communications

Personal Selling and Sales Promotion

Creating A Marketing Plan

Financial Analysis In Marketing

Your Career In Marketing

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Exam 16: Retailing and Direct Marketing

_____ are groups of retail outlets that operate under central ownership and management and handle the same product lines.

The combination of the retailing mix -- merchandise strategy, customer service standards, pricing guidelines, target market analysis, promotion goals, location/distribution decisions, and store atmosphere -- creates a retailer's ________.

The level of competition for business in the market is an important criterion considered by retailers while selecting the target market.

Retailers must consider the overall profitability of each product line and product category to develop a successful merchandise mix.

Home Depot hardware stores sell a wide variety of home improvement items including lumber, tools, and appliances, while smaller hardware store, Ace, focuses on just a few brands in each category and does not sell appliances. Although both are hardware stores, Ace and Home Depot differ on their:

For retailers, the decision on where to locate a store usually depends on just one or two factors.

What is online retailing? How has the Internet enhanced the functions of the direct marketers?

Through direct selling, manufacturers completely bypass retailers and wholesalers and set up their own channels to sell their products directly to consumers.

Chain stores are groups of retail outlets that operate under central ownership and management and handle the same product lines.

Retailers are using direct mail in favor of digital advertisements.

REI stores feature climbing walls, mountain bike test tracks, and Gore-Tex rain rooms for trying out Gore-Tex rainwear. These features are part of REI's:

Which of the following statements is most likely to be true about a convenience retailer?

You are worried about adding too high a markup to the watches you sell at your jewelry store. To reduce this markup and still cover costs, you will focus on:

If merchandise selection changes frequently to follow fashion trends, advertising is typically used to promote current styles effectively.

Convenience retail stores attract consumers by providing easy access, extended store hours, and adequate parking facilities.

Other things being equal, stores with a higher inventory turnover rate can cover their costs and earn a profit while charging a smaller markup.

Discuss the different types of direct marketing.

Offering same day pickup and having items shipped to stores for free is part of a retailer's ______ strategy.

Marketing: the Art of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, Ethics, and Social Responsibility

E-Business: Managing the Customer Experience

Social Media: Living in the Connected World

Consumer Behavior

Business Markets and Buying Behavior

Global Marketing

Market Segmentation, Targeting, and Positioning

Marketing Research

Product and Branding Concepts

Developing and Managing Products

Pricing Concepts

Pricing Strategies

Distribution Channels and Supply Chain Management

Integrated Marketing Communications

Personal Selling and Sales Promotion

Creating A Marketing Plan

Financial Analysis In Marketing

Your Career In Marketing

Filters