Question 1

Retailing is the largest industry in the country.

Accepted Answer

A) True 
 B)False

Question 2

Identify the incorrect statement about e-tailing.

Accepted Answer

A)  It enables consumers to shop when they like and from where they like. 
B)  It provides access to vast amounts of information, ranging from a product's attributes to who has the lowest price. 
C)  Many e-tailers offer personalized help online. 
D)  With some Internet websites, individuals can band together for group buying. 
E)  Some e-tailers may have to discontinue some product categories as consumers engage in outshopping. 
A)  It enables consumers to shop when they like and from where they like. 
B)  It provides access to vast amounts of information, ranging from a product's attributes to who has the lowest price. 
C)  Many e-tailers offer personalized help online. 
D)  With some Internet websites, individuals can band together for group buying. 
E)  Some e-tailers may have to discontinue some product categories as consumers engage in outshopping.

Question 3

Compare and contrast low- margin,low- turnover retailers and high-margin,high-turnover retailers.

Accepted Answer

Retailers are classified into four basic

Question 4

The dominance of Walmart can be attributed to Sam Walton's realization that:

Accepted Answer

A)  most of any product's cost gets added after the item is produced. 
B)  consumers desire great selection and are willing to pay higher prices to obtain that selection. 
C)  most consumers prefer to complete all of their shopping in one store to minimize their overall shopping time. 
D)  most consumers would prefer to shop in large stores rather than small stores as they believe that larger stores offer higher customer service. 
E)  the company's primary focus should be on its profits. 
A)  most of any product's cost gets added after the item is produced. 
B)  consumers desire great selection and are willing to pay higher prices to obtain that selection. 
C)  most consumers prefer to complete all of their shopping in one store to minimize their overall shopping time. 
D)  most consumers would prefer to shop in large stores rather than small stores as they believe that larger stores offer higher customer service. 
E)  the company's primary focus should be on its profits.

Question 5

Retail managers are often forced to deal with many issues,functions,and projects at the same time.Establishing priorities,plans,and follow through to achieve results demonstrates which prerequisite for success?

Accepted Answer

A)  Initiative 
B)  Leadership 
C)  Risk Taking 
D)  Organization 
E)  Stress Tolerance 
A)  Initiative 
B)  Leadership 
C)  Risk Taking 
D)  Organization 
E)  Stress Tolerance

Question 6

Operating expenses are the expenses the retailer incurs including the cost of the merchandise.

Accepted Answer

A) True 
 B)False

Question 7

_____ is the result of the pressure being placed on many retailers to increase profits by carrying additional merchandise or services that will also increase store traffic.

Accepted Answer

A)  Cross-merchandising 
B)  Piggybacking 
C)  Automatic merchandising 
D)  Product diversification 
E)  Scrambled merchandising 
A)  Cross-merchandising 
B)  Piggybacking 
C)  Automatic merchandising 
D)  Product diversification 
E)  Scrambled merchandising

Question 8

The best way to categorize retailers is:

Accepted Answer

A)  by the U.S. Bureau of Census' three-digit North American Industrial Classification Systems (NAICS). 
B)  by the retailers' locations. 
C)  by the number of outlets the store maintains. 
D)  by the retailers' margins and turnover. 
E)  there is no single accepted method of classifying retail competitors. 
A)  by the U.S. Bureau of Census' three-digit North American Industrial Classification Systems (NAICS). 
B)  by the retailers' locations. 
C)  by the number of outlets the store maintains. 
D)  by the retailers' margins and turnover. 
E)  there is no single accepted method of classifying retail competitors.

Question 9

Which of the following is true about a retailing career?

Accepted Answer

A)  Since retailing is so diverse, all individuals are suited for a retail career. 
B)  A career in retailing is limited to those living in densely populated areas. 
C)  Starting salaries are higher in retailing than in most other careers. 
D)  The potential for retail career advancement is high. 
E)  Nationally, the number of careers in retailing is expected to decline over the next decade. 
A)  Since retailing is so diverse, all individuals are suited for a retail career. 
B)  A career in retailing is limited to those living in densely populated areas. 
C)  Starting salaries are higher in retailing than in most other careers. 
D)  The potential for retail career advancement is high. 
E)  Nationally, the number of careers in retailing is expected to decline over the next decade.

Question 10

Retailers that practice both analytical and creative management should be consistently more:

Accepted Answer

A)  profitable. 
B)  vibrant. 
C)  liquid. 
D)  successful in terms of market share. 
E)  stable. 
A)  profitable. 
B)  vibrant. 
C)  liquid. 
D)  successful in terms of market share. 
E)  stable.

Retailing is the largest industry in the country.

Identify the incorrect statement about e-tailing.

Compare and contrast low- margin,low- turnover retailers and high-margin,high-turnover retailers.

The dominance of Walmart can be attributed to Sam Walton's realization that:

Retail managers are often forced to deal with many issues,functions,and projects at the same time.Establishing priorities,plans,and follow through to achieve results demonstrates which prerequisite for success?

Operating expenses are the expenses the retailer incurs including the cost of the merchandise.

_____ is the result of the pressure being placed on many retailers to increase profits by carrying additional merchandise or services that will also increase store traffic.

The best way to categorize retailers is:

Which of the following is true about a retailing career?

Retailers that practice both analytical and creative management should be consistently more:

Retail Strategic Planning and Operations Management

Retail Customers

Evaluating the Competition in Retailing

Managing the Supply Chain

Legal and Ethical Behavior

Market Selection and Retail Location Analysis

Managing a Retailer’s Finances

Merchandise Buying and Handling

Merchandise Pricing

Advertising and Promotion

Customer Service and Retail Selling

Store Layout and Design

Managing People

Filters

Exam 1: Perspectives on Retailing

Retailing is the largest industry in the country.

Identify the incorrect statement about e-tailing.

Compare and contrast low- margin,low- turnover retailers and high-margin,high-turnover retailers.

The dominance of Walmart can be attributed to Sam Walton's realization that:

Retail managers are often forced to deal with many issues,functions,and projects at the same time.Establishing priorities,plans,and follow through to achieve results demonstrates which prerequisite for success?

Operating expenses are the expenses the retailer incurs including the cost of the merchandise.

_____ is the result of the pressure being placed on many retailers to increase profits by carrying additional merchandise or services that will also increase store traffic.

The best way to categorize retailers is:

Which of the following is true about a retailing career?

Retailers that practice both analytical and creative management should be consistently more:

Retail Strategic Planning and Operations Management

Retail Customers

Evaluating the Competition in Retailing

Managing the Supply Chain

Legal and Ethical Behavior

Market Selection and Retail Location Analysis

Managing a Retailer’s Finances

Merchandise Buying and Handling

Merchandise Pricing

Advertising and Promotion

Customer Service and Retail Selling

Store Layout and Design

Managing People

Filters