Question 1

Sales volume and market share are the most popular measures of:

Accepted Answer

A)  financial productivity. 
B)  market performance. 
C)  merchandise productivity. 
D)  consumer choice. 
E)  human resource allocation. 
A)  financial productivity. 
B)  market performance. 
C)  merchandise productivity. 
D)  consumer choice. 
E)  human resource allocation.

Question 2

When a retailer donates money to charity,this is considered a personal objective.

Accepted Answer

A) True 
 B)False

Question 3

When a retailer is attempting to determine its major advantage(s)over competitors,it is analyzing its:

Accepted Answer

A)  strengths. 
B)  weaknesses. 
C)  opportunities. 
D)  threats. 
E)  operations. 
A)  strengths. 
B)  weaknesses. 
C)  opportunities. 
D)  threats. 
E)  operations.

Question 4

Most retailers like to operate with a financial leverage ratio of 1.0 or greater so as to minimize debt.

Accepted Answer

A) True 
 B)False

Question 5

As a general rule,retailers should strive for a net profit margin of:

Accepted Answer

A)  .05 to 1.5 percent. 
B)  1.5 to 2.5 percent. 
C)  2.5 to 3.5 percent. 
D)  3.5 to 4.5 percent. 
E)  4.5 to 5.5 percent. 
A)  .05 to 1.5 percent. 
B)  1.5 to 2.5 percent. 
C)  2.5 to 3.5 percent. 
D)  3.5 to 4.5 percent. 
E)  4.5 to 5.5 percent.

Question 6

"Are new firms entering or are existing firms leaving? What is the impact on us?" is an example of a "opportunity."

Accepted Answer

A) True 
 B)False

Question 7

Explain the strategic profit model (SPM).

Accepted Answer

The most frequently encountered profit o

Question 8

Just having a written mission statement is enough for success in today's environment; after all,with all the changes taking place it would be foolish to expect a retailer to always adhere to its original mission statement.

Accepted Answer

A) True 
 B)False

Question 9

You have recently been hired by a small retailer in your area.During a discussion with the owner,you notice that the owner's primary objective for being in business is to provide the customer with a real alternative.The owner is primarily using a _____ objective to focus the business.

Accepted Answer

A)  market performance 
B)  financial performance 
C)  societal 
D)  personal 
E)  self-esteem 
A)  market performance 
B)  financial performance 
C)  societal 
D)  personal 
E)  self-esteem

Question 10

_____ signify what the retailer wants to accomplish,while _____ indicate how the retailer will attempt to achieve them.

Accepted Answer

A)  Objectives; mission statements 
B)  Mission statements; plans 
C)  Strategies; plans 
D)  Objectives; strategies 
E)  Action plans; strategies 
A)  Objectives; mission statements 
B)  Mission statements; plans 
C)  Strategies; plans 
D)  Objectives; strategies 
E)  Action plans; strategies

Question 11

Self-gratification focuses on the needs and desires of the owners,managers,or employees of the firm and their pursuit of what they truly want out of life.

Accepted Answer

A) True 
 B)False

Question 12

Retailers typically can not control the environmental factors that may impact them.

Accepted Answer

A) True 
 B)False

Question 13

If the customer will never be profitable because of size,location,or other demands,then that customer must be dropped.

Accepted Answer

A) True 
 B)False

Question 14

What are the major environmental forces that should be constantly assessed by retailers?

Accepted Answer

The major environmental forces that shou

Question 15

When a retailer uses productivity objectives,it is referring to the productivity of which resources?

Accepted Answer

A)  Market comparison, profitability, productivity 
B)  Net worth, financial leverage, and asset turnover 
C)  Sales, merchandise, and owner's equity 
D)  Space, labor, and merchandise 
E)  space, owner's equity, and merchandise 
A)  Market comparison, profitability, productivity 
B)  Net worth, financial leverage, and asset turnover 
C)  Sales, merchandise, and owner's equity 
D)  Space, labor, and merchandise 
E)  space, owner's equity, and merchandise

Question 16

If a retailer has a financial leverage rate of 2.3 and an asset turnover of 2,then its RONW is 4.6 percent.

Accepted Answer

A) True 
 B)False

Question 17

The retailer's _____ is a clear statement of the tangible and intangible results a customer receives from using the retailer's products or services.

Accepted Answer

A)  mission statement 
B)  customer interaction tracker 
C)  value proposition 
D)  customer type indicator 
E)  vision statement 
A)  mission statement 
B)  customer interaction tracker 
C)  value proposition 
D)  customer type indicator 
E)  vision statement

Question 18

By assessing changing environmental forces,strategic planning opportunities can be found.

Accepted Answer

A) True 
 B)False

Question 19

As a general rule,a retailer should strive to have an asset turnover rate between 1.5 to 2.0 times.

Accepted Answer

A) True 
 B)False

Question 20

A retailer's retail mix consists of all of the following EXCEPT:

Accepted Answer

A)  location. 
B)  price. 
C)  customer service and selling. 
D)  traffic strategy. 
E)  merchandise. 
A)  location. 
B)  price. 
C)  customer service and selling. 
D)  traffic strategy. 
E)  merchandise.

Sales volume and market share are the most popular measures of:

When a retailer donates money to charity,this is considered a personal objective.

When a retailer is attempting to determine its major advantage(s)over competitors,it is analyzing its:

Most retailers like to operate with a financial leverage ratio of 1.0 or greater so as to minimize debt.

As a general rule,retailers should strive for a net profit margin of:

"Are new firms entering or are existing firms leaving? What is the impact on us?" is an example of a "opportunity."

Explain the strategic profit model (SPM).

Just having a written mission statement is enough for success in today's environment; after all,with all the changes taking place it would be foolish to expect a retailer to always adhere to its original mission statement.

You have recently been hired by a small retailer in your area.During a discussion with the owner,you notice that the owner's primary objective for being in business is to provide the customer with a real alternative.The owner is primarily using a _____ objective to focus the business.

_ signify what the retailer wants to accomplish,while _ indicate how the retailer will attempt to achieve them.

Self-gratification focuses on the needs and desires of the owners,managers,or employees of the firm and their pursuit of what they truly want out of life.

Retailers typically can not control the environmental factors that may impact them.

If the customer will never be profitable because of size,location,or other demands,then that customer must be dropped.

What are the major environmental forces that should be constantly assessed by retailers?

When a retailer uses productivity objectives,it is referring to the productivity of which resources?

If a retailer has a financial leverage rate of 2.3 and an asset turnover of 2,then its RONW is 4.6 percent.

The retailer's _____ is a clear statement of the tangible and intangible results a customer receives from using the retailer's products or services.

By assessing changing environmental forces,strategic planning opportunities can be found.

As a general rule,a retailer should strive to have an asset turnover rate between 1.5 to 2.0 times.

A retailer's retail mix consists of all of the following EXCEPT:

Perspectives on Retailing

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 2: Retail Strategic Planning and Operations Management

Sales volume and market share are the most popular measures of:

When a retailer donates money to charity,this is considered a personal objective.

When a retailer is attempting to determine its major advantage(s)over competitors,it is analyzing its:

Most retailers like to operate with a financial leverage ratio of 1.0 or greater so as to minimize debt.

As a general rule,retailers should strive for a net profit margin of:

"Are new firms entering or are existing firms leaving? What is the impact on us?" is an example of a "opportunity."

Explain the strategic profit model (SPM).

Just having a written mission statement is enough for success in today's environment; after all,with all the changes taking place it would be foolish to expect a retailer to always adhere to its original mission statement.

You have recently been hired by a small retailer in your area.During a discussion with the owner,you notice that the owner's primary objective for being in business is to provide the customer with a real alternative.The owner is primarily using a _____ objective to focus the business.

_____ signify what the retailer wants to accomplish,while _____ indicate how the retailer will attempt to achieve them.

Self-gratification focuses on the needs and desires of the owners,managers,or employees of the firm and their pursuit of what they truly want out of life.

Retailers typically can not control the environmental factors that may impact them.

If the customer will never be profitable because of size,location,or other demands,then that customer must be dropped.

What are the major environmental forces that should be constantly assessed by retailers?

When a retailer uses productivity objectives,it is referring to the productivity of which resources?

If a retailer has a financial leverage rate of 2.3 and an asset turnover of 2,then its RONW is 4.6 percent.

The retailer's _____ is a clear statement of the tangible and intangible results a customer receives from using the retailer's products or services.

By assessing changing environmental forces,strategic planning opportunities can be found.

As a general rule,a retailer should strive to have an asset turnover rate between 1.5 to 2.0 times.

A retailer's retail mix consists of all of the following EXCEPT:

Perspectives on Retailing

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

_ signify what the retailer wants to accomplish,while _ indicate how the retailer will attempt to achieve them.