Question 1

Independently owned stores that band together to act like a chain are referred to as:

Accepted Answer

A) A contractual system 
B) A franchise 
C) An administered system 
D) A vertical integration 
A) A contractual system 
B) A franchise 
C) An administered system 
D) A vertical integration

Question 2

To shop at Costco, you require a membership card that is purchased. Costco is an example of:

Accepted Answer

A) Hypermarkets 
B) One price stores 
C) Specialty stores 
D) Warehouse clubs 
A) Hypermarkets 
B) One price stores 
C) Specialty stores 
D) Warehouse clubs

Question 3

Franchising is a type of:

Accepted Answer

A) retail-sponsored cooperative. 
B) vertically integrated chain. 
C) contractual system. 
D) administered system. 
A) retail-sponsored cooperative. 
B) vertically integrated chain. 
C) contractual system. 
D) administered system.

Question 4

Breadth of product line refers to ________ a store carries.

Accepted Answer

A) the variety of different items 
B) a wide assortment of a few related items 
C) the quality of merchandise 
D) the physical size, from large to small, of products 
A) the variety of different items 
B) a wide assortment of a few related items 
C) the quality of merchandise 
D) the physical size, from large to small, of products

Question 5

Home building supply outlets, discount stores, and catalogue showrooms provide what level of retail service?

Accepted Answer

A) limited service 
B) self-service 
C) customized service 
D) full-service 
A) limited service 
B) self-service 
C) customized service 
D) full-service

Question 6

A form of ownership that involves multiple outlets under common ownership is known as a(n):

Accepted Answer

A) consumer cooperative 
B) corporate chain 
C) contractual system 
D) independent retailer 
A) consumer cooperative 
B) corporate chain 
C) contractual system 
D) independent retailer

Question 7

According to the retail life cycle with respect to the positions of various current forms of retail outlets, which of the following can be considered to be in the decline stage?

Accepted Answer

A) general stores 
B) fast-food outlets 
C) single-price stores 
D) value-retail centres 
A) general stores 
B) fast-food outlets 
C) single-price stores 
D) value-retail centres

Question 8

Family Dollar, Dollar General, and Dollar Tree are examples of:

Accepted Answer

A) outlet stores. 
B) hypermarkets. 
C) one-price apparel chains. 
D) extreme-value or single-price retailers. 
A) outlet stores. 
B) hypermarkets. 
C) one-price apparel chains. 
D) extreme-value or single-price retailers.

Question 9

At which level of service would the retail customer perform the greatest number of functions?

Accepted Answer

A) selective service 
B) self-service 
C) exclusive service 
D) limited service 
A) selective service 
B) self-service 
C) exclusive service 
D) limited service

Question 10

Urban Fare is a Canadian supermarket that caters to customers who want to cook at home. It offers free cooking classes, has frequent demonstrations by cookbook authors, and has employees who are knowledgeable about food preparation. Customers do make their own selections once they have decided what to prepare. Urban Fare offers its customers:

Accepted Answer

A) self-service. 
B) exclusive service. 
C) economies-of-scale service. 
D) limited service. 
A) self-service. 
B) exclusive service. 
C) economies-of-scale service. 
D) limited service.

Question 11

Figure 15-5
  
-Which of the following stores would best fit in quadrant "D" shown in Figure 15-5?

Accepted Answer

A) Hudson's Bay department store 
B) Payless ShoeSource 
C) Kmart 
D) Birks 
A) Hudson's Bay department store 
B) Payless ShoeSource 
C) Kmart 
D) Birks

Question 12

According to the retail life cycle with respect to the positions of various current forms of retail outlets, which of the following can be considered to be in the accelerated development stage?

Accepted Answer

A) warehouse clubs 
B) value-retail centres 
C) general stores 
D) convenience stores 
A) warehouse clubs 
B) value-retail centres 
C) general stores 
D) convenience stores

Question 13

Describe how a retail outlet could use mobile technology to enhance their consumer's experience?

Accepted Answer

The answer of Describe how a retail outlet could use...

Question 14

Michelle works at McDonalds and is responsible for offloading the delivery truck every Sunday morning, before other staff and customers enter the store. When she is offloading the frozen packets of grilled chicken, she slips one into the trunk of her car. McDonalds refers to this loss as:

Accepted Answer

A) shrinkage. 
B) an opportunity loss. 
C) UIL (unexplained inventory loss). 
D) an opportunity cost. 
A) shrinkage. 
B) an opportunity loss. 
C) UIL (unexplained inventory loss). 
D) an opportunity cost.

Question 15

Walmart prefers not to offer 'markdowns,' but rather provide their bottom line price to consumers. This strategy is known as:

Accepted Answer

A) emphasized-value 
B) low-margin 
C) everyday fair pricing 
D) everyday low pricing 
A) emphasized-value 
B) low-margin 
C) everyday fair pricing 
D) everyday low pricing

Question 16

Figure 15-7
  
-According to Figure 15-7, segment "B" represents which stage in the retail life cycle?

Accepted Answer

A) Maturity 
B) Early growth 
C) Accelerated development 
D) Introduction 
A) Maturity 
B) Early growth 
C) Accelerated development 
D) Introduction

Question 17

A Ford dealership would be classified under what form of ownership?

Accepted Answer

A) product-distribution franchise. 
B) wholesaler. 
C) business-format franchise. 
D) corporate chain. 
A) product-distribution franchise. 
B) wholesaler. 
C) business-format franchise. 
D) corporate chain.

Question 18

Which of the following statements about telemarketing is true?

Accepted Answer

A) Direct mail is typically viewed as more efficient than telemarketing. 
B) As the use of telemarketing grows, consumer privacy has become a greater concern. 
C) Telemarketing has declined in popularity as companies have searched for ways to decrease costs. 
D) Shopping bots are computers that place automated telemarketing calls. 
A) Direct mail is typically viewed as more efficient than telemarketing. 
B) As the use of telemarketing grows, consumer privacy has become a greater concern. 
C) Telemarketing has declined in popularity as companies have searched for ways to decrease costs. 
D) Shopping bots are computers that place automated telemarketing calls.

Question 19

A drug store that sells pharmaceuticals, beauty aids, camera equipment, non-perishable grocery items, and automobile motor oil is an example of a retailer using:

Accepted Answer

A) full-service. 
B) cross-docking. 
C) scrambled merchandising. 
D) disintermediation. 
A) full-service. 
B) cross-docking. 
C) scrambled merchandising. 
D) disintermediation.

Question 20

Impressions of the corporation that operates the store, the category or type of store, the product categories in the store, the brands in each category, and the marketing activities of the store, are all elements of a store's retail:

Accepted Answer

A) atmosphere. 
B) psychological attributes. 
C) antecedent states. 
D) image. 
A) atmosphere. 
B) psychological attributes. 
C) antecedent states. 
D) image.

Independently owned stores that band together to act like a chain are referred to as:

To shop at Costco, you require a membership card that is purchased. Costco is an example of:

Franchising is a type of:

Breadth of product line refers to ________ a store carries.

Home building supply outlets, discount stores, and catalogue showrooms provide what level of retail service?

A form of ownership that involves multiple outlets under common ownership is known as a(n):

According to the retail life cycle with respect to the positions of various current forms of retail outlets, which of the following can be considered to be in the decline stage?

Family Dollar, Dollar General, and Dollar Tree are examples of:

At which level of service would the retail customer perform the greatest number of functions?

Figure 15-5 -Which of the following stores would best fit in quadrant "D" shown in Figure 15-5?

According to the retail life cycle with respect to the positions of various current forms of retail outlets, which of the following can be considered to be in the accelerated development stage?

Describe how a retail outlet could use mobile technology to enhance their consumer's experience?

Michelle works at McDonalds and is responsible for offloading the delivery truck every Sunday morning, before other staff and customers enter the store. When she is offloading the frozen packets of grilled chicken, she slips one into the trunk of her car. McDonalds refers to this loss as:

Walmart prefers not to offer 'markdowns,' but rather provide their bottom line price to consumers. This strategy is known as:

Figure 15-7 -According to Figure 15-7, segment "B" represents which stage in the retail life cycle?

A Ford dealership would be classified under what form of ownership?

Which of the following statements about telemarketing is true?

A drug store that sells pharmaceuticals, beauty aids, camera equipment, non-perishable grocery items, and automobile motor oil is an example of a retailer using:

Impressions of the corporation that operates the store, the category or type of store, the product categories in the store, the brands in each category, and the marketing activities of the store, are all elements of a store's retail:

Creating Customer Value, Relationships, and Experiences Through Marketing

Developing Successful Marketing Strategies

Scanning the Marketing Environment

Ethics and Social Responsibility for Sustainable Marketing

Consumer Behaviour

Understanding Organizations As Customers

Reaching Global Markets

Marketing Research: From Information to Action

Market Segmentation, Targeting, and Positioning

Developing New Products and Services

Managing Products and Brands

Managing Services

Pricing Products and Services

Managing Marketing Channels and Supply Chains

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Personal Selling and Sales Management

Pulling It All Together: the Strategic Marketing Process

Using Social Media and Mobile Marketing to Connect With Consumers

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Exam 15: Retailing

Independently owned stores that band together to act like a chain are referred to as:

To shop at Costco, you require a membership card that is purchased. Costco is an example of:

Franchising is a type of:

Breadth of product line refers to ________ a store carries.

Home building supply outlets, discount stores, and catalogue showrooms provide what level of retail service?

A form of ownership that involves multiple outlets under common ownership is known as a(n):

According to the retail life cycle with respect to the positions of various current forms of retail outlets, which of the following can be considered to be in the decline stage?

Family Dollar, Dollar General, and Dollar Tree are examples of:

At which level of service would the retail customer perform the greatest number of functions?

Figure 15-5 -Which of the following stores would best fit in quadrant "D" shown in Figure 15-5?

According to the retail life cycle with respect to the positions of various current forms of retail outlets, which of the following can be considered to be in the accelerated development stage?

Describe how a retail outlet could use mobile technology to enhance their consumer's experience?

Michelle works at McDonalds and is responsible for offloading the delivery truck every Sunday morning, before other staff and customers enter the store. When she is offloading the frozen packets of grilled chicken, she slips one into the trunk of her car. McDonalds refers to this loss as:

Walmart prefers not to offer 'markdowns,' but rather provide their bottom line price to consumers. This strategy is known as:

Figure 15-7 -According to Figure 15-7, segment "B" represents which stage in the retail life cycle?

A Ford dealership would be classified under what form of ownership?

Which of the following statements about telemarketing is true?

A drug store that sells pharmaceuticals, beauty aids, camera equipment, non-perishable grocery items, and automobile motor oil is an example of a retailer using:

Impressions of the corporation that operates the store, the category or type of store, the product categories in the store, the brands in each category, and the marketing activities of the store, are all elements of a store's retail:

Creating Customer Value, Relationships, and Experiences Through Marketing

Developing Successful Marketing Strategies

Scanning the Marketing Environment

Ethics and Social Responsibility for Sustainable Marketing

Consumer Behaviour

Understanding Organizations As Customers

Reaching Global Markets

Marketing Research: From Information to Action

Market Segmentation, Targeting, and Positioning

Developing New Products and Services

Managing Products and Brands

Managing Services

Pricing Products and Services

Managing Marketing Channels and Supply Chains

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Personal Selling and Sales Management

Pulling It All Together: the Strategic Marketing Process

Using Social Media and Mobile Marketing to Connect With Consumers

Filters