Question 1

The consumer shopping/purchasing model presented in the text:

Accepted Answer

A)  always begins with active information gathering. 
B)  ends with the buying decision. 
C)  suggests that consumer behavior is a process, with a series of stages occurring against a backdrop of factors. 
D)  always begins with passive information gathering. 
E)  usually begins with a buy trigger event. 
A)  always begins with active information gathering. 
B)  ends with the buying decision. 
C)  suggests that consumer behavior is a process, with a series of stages occurring against a backdrop of factors. 
D)  always begins with passive information gathering. 
E)  usually begins with a buy trigger event. C

Question 2

Retailers find it useful to group consumers according to population variables because such data is often linked to marketplace needs.

Accepted Answer

A) True 
 B)False  True

Question 3

Walmart's Supercenters that serve wealthier shoppers who love deals belong to which of the following general market segments?

Accepted Answer

A)  Conscientious objectors 
B)  Value-price shoppers 
C)  Trendy quality seekers 
D)  One-stop shoppers 
E)  Price-sensitive affluents 
A)  Conscientious objectors 
B)  Value-price shoppers 
C)  Trendy quality seekers 
D)  One-stop shoppers 
E)  Price-sensitive affluents E

Question 4

The "wealth effect" claims that for every $100 of additional wealth generated in an individual's stock market holdings,the individual will spend:

Accepted Answer

A)  $4. 
B)  $8. 
C)  $10. 
D)  $12. 
E)  $15. 
A)  $4. 
B)  $8. 
C)  $10. 
D)  $12. 
E)  $15.

Question 5

It is important for retailers to realize that working women are often more concerned with convenience than with price.

Accepted Answer

A) True 
 B)False

Question 6

An important characteristic of the "millennium generation" that retailers need to remember is:

Accepted Answer

A)  they have an annual spending power of nearly $500 billion. 
B)  they were born between 1965 and 1977 and thus are called the "Children of the '80s." 
C)  they number less than 50 million. 
D)  they tend to be more traditional and have a conservative lifestyle. 
E)  they are a relatively homogeneous group. 
A)  they have an annual spending power of nearly $500 billion. 
B)  they were born between 1965 and 1977 and thus are called the "Children of the '80s." 
C)  they number less than 50 million. 
D)  they tend to be more traditional and have a conservative lifestyle. 
E)  they are a relatively homogeneous group.

Question 7

The disposable income minus the money needed for necessities to sustain life,such as minimal housing,minimal food,and minimal clothing is:

Accepted Answer

A)  discretionary income. 
B)  comprehensive income. 
C)  aggregate income. 
D)  passive income. 
E)  basic income. 
A)  discretionary income. 
B)  comprehensive income. 
C)  aggregate income. 
D)  passive income. 
E)  basic income.

Question 8

Disposable income is:

Accepted Answer

A)  all personal income after taxes and retirement savings. 
B)  all personal income after savings. 
C)  all personal income minus the money needed for necessities food, clothing, housing, etc. 
D)  all personal income after taxes minus the money needed for necessities. 
E)  all personal income after taxes. 
A)  all personal income after taxes and retirement savings. 
B)  all personal income after savings. 
C)  all personal income minus the money needed for necessities food, clothing, housing, etc. 
D)  all personal income after taxes minus the money needed for necessities. 
E)  all personal income after taxes.

Question 9

If the customer's total shopping experience has met or exceeded their expectations,the customer is said to be satisfied.

Accepted Answer

A) True 
 B)False

Question 10

College-educated consumers are more alert to price,quality and advertised claims than other workers of the same age and income level.

Accepted Answer

A) True 
 B)False

Question 11

Explain how population growth,age distribution and geographic trends are affecting retailers in the United States.

Accepted Answer

Every shift in consumer population patte

Question 12

The easiest way for a retailer to differentiate itself in the eyes of consumers is to:

Accepted Answer

A)  satisfy the customer's needs and wants better than the competition. 
B)  use a unique name. 
C)  use market segmentation to break up America's homogeneous markets into more heterogeneous population bases. 
D)  offer no "transaction" services. 
E)  sell below cost. 
A)  satisfy the customer's needs and wants better than the competition. 
B)  use a unique name. 
C)  use market segmentation to break up America's homogeneous markets into more heterogeneous population bases. 
D)  offer no "transaction" services. 
E)  sell below cost.

Question 13

Explain the difference between disposable and discretionary income.Which is more important to retailers?

Accepted Answer

Economists tend to view income from two

Question 14

Which of the following statements regarding current U.S.population trends is correct?

Accepted Answer

A)  The average age of the U.S. population is decreasing. 
B)  The nation's overall growth rate has been decreasing over the past three decades. 
C)  Americans life expectancy is decreasing. 
D)  The majority of population growth in the U.S. is projected to come from the baby boomers. 
E)  The overall population is decreasing. 
A)  The average age of the U.S. population is decreasing. 
B)  The nation's overall growth rate has been decreasing over the past three decades. 
C)  Americans life expectancy is decreasing. 
D)  The majority of population growth in the U.S. is projected to come from the baby boomers. 
E)  The overall population is decreasing.

Question 15

Which stage of the consumer shopping and purchasing model is often seen by retailers as an opportunity to use suggestion selling to sell add-on or related purchases,and impulse merchandise?

Accepted Answer

A)  Stimulus 
B)  Purchase 
C)  Problem recognition 
D)  Search 
E)  Evaluation of alternatives 
A)  Stimulus 
B)  Purchase 
C)  Problem recognition 
D)  Search 
E)  Evaluation of alternatives

Question 16

_____ involves tailoring merchandise in each store to the preferences of its neighborhood.

Accepted Answer

A)  Neighborhood targeting 
B)  Micromarketing 
C)  Target marketing 
D)  Benefit analysis 
E)  Customer targeting 
A)  Neighborhood targeting 
B)  Micromarketing 
C)  Target marketing 
D)  Benefit analysis 
E)  Customer targeting

Question 17

Retailers should remember that Baby Busters:

Accepted Answer

A)  have an annual spending power of over $800 billion. 
B)  generally have similar buying behavior as boomers. 
C)  feel alienated and angry at the baby boomers' culture and lifestyle which they believe has placed the economy in such poor shape. 
D)  have buying behavior patterns that make it easy for retailers to reach them. 
E)  usually behave as the boomers did 20 years ago. 
A)  have an annual spending power of over $800 billion. 
B)  generally have similar buying behavior as boomers. 
C)  feel alienated and angry at the baby boomers' culture and lifestyle which they believe has placed the economy in such poor shape. 
D)  have buying behavior patterns that make it easy for retailers to reach them. 
E)  usually behave as the boomers did 20 years ago.

Question 18

Markets with a population of less than 50,000 do not present many opportunities for retailers and hence should be avoided.

Accepted Answer

A) True 
 B)False

Question 19

If post-purchase resentment is not identified and rectified by the retailer,it may produce a short-term negative image problem for the retailer,but never a long-term problem.

Accepted Answer

A) True 
 B)False

Question 20

Identify the correct statement about habitual problem solving.

Accepted Answer

A)  It typically involves frequently purchased expensive products of low risk. 
B)  The consumer has a strong preference for the brand to buy and the retailer from which to purchase it. 
C)  It occurs when the consumer has a strong preference for either the brand or the store, but not both. 
D)  The consumer may not have a store choice in mind but may have a strong preference for the brand to purchase. 
E)  It occurs when the consumer relies on past experience and learning to convert the problem into a situation requiring less thought. 
A)  It typically involves frequently purchased expensive products of low risk. 
B)  The consumer has a strong preference for the brand to buy and the retailer from which to purchase it. 
C)  It occurs when the consumer has a strong preference for either the brand or the store, but not both. 
D)  The consumer may not have a store choice in mind but may have a strong preference for the brand to purchase. 
E)  It occurs when the consumer relies on past experience and learning to convert the problem into a situation requiring less thought.

The consumer shopping/purchasing model presented in the text:

Retailers find it useful to group consumers according to population variables because such data is often linked to marketplace needs.

Walmart's Supercenters that serve wealthier shoppers who love deals belong to which of the following general market segments?

The "wealth effect" claims that for every $100 of additional wealth generated in an individual's stock market holdings,the individual will spend:

It is important for retailers to realize that working women are often more concerned with convenience than with price.

An important characteristic of the "millennium generation" that retailers need to remember is:

The disposable income minus the money needed for necessities to sustain life,such as minimal housing,minimal food,and minimal clothing is:

Disposable income is:

If the customer's total shopping experience has met or exceeded their expectations,the customer is said to be satisfied.

College-educated consumers are more alert to price,quality and advertised claims than other workers of the same age and income level.

Explain how population growth,age distribution and geographic trends are affecting retailers in the United States.

The easiest way for a retailer to differentiate itself in the eyes of consumers is to:

Explain the difference between disposable and discretionary income.Which is more important to retailers?

Which of the following statements regarding current U.S.population trends is correct?

Which stage of the consumer shopping and purchasing model is often seen by retailers as an opportunity to use suggestion selling to sell add-on or related purchases,and impulse merchandise?

_____ involves tailoring merchandise in each store to the preferences of its neighborhood.

Retailers should remember that Baby Busters:

Markets with a population of less than 50,000 do not present many opportunities for retailers and hence should be avoided.

If post-purchase resentment is not identified and rectified by the retailer,it may produce a short-term negative image problem for the retailer,but never a long-term problem.

Identify the correct statement about habitual problem solving.

Perspectives on Retailing

Retail Strategic Planning and Operations Management

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 3: Retail Customers

The consumer shopping/purchasing model presented in the text:

Retailers find it useful to group consumers according to population variables because such data is often linked to marketplace needs.

Walmart's Supercenters that serve wealthier shoppers who love deals belong to which of the following general market segments?

The "wealth effect" claims that for every $100 of additional wealth generated in an individual's stock market holdings,the individual will spend:

It is important for retailers to realize that working women are often more concerned with convenience than with price.

An important characteristic of the "millennium generation" that retailers need to remember is:

The disposable income minus the money needed for necessities to sustain life,such as minimal housing,minimal food,and minimal clothing is:

Disposable income is:

If the customer's total shopping experience has met or exceeded their expectations,the customer is said to be satisfied.

College-educated consumers are more alert to price,quality and advertised claims than other workers of the same age and income level.

Explain how population growth,age distribution and geographic trends are affecting retailers in the United States.

The easiest way for a retailer to differentiate itself in the eyes of consumers is to:

Explain the difference between disposable and discretionary income.Which is more important to retailers?

Which of the following statements regarding current U.S.population trends is correct?

Which stage of the consumer shopping and purchasing model is often seen by retailers as an opportunity to use suggestion selling to sell add-on or related purchases,and impulse merchandise?

_____ involves tailoring merchandise in each store to the preferences of its neighborhood.

Retailers should remember that Baby Busters:

Markets with a population of less than 50,000 do not present many opportunities for retailers and hence should be avoided.

If post-purchase resentment is not identified and rectified by the retailer,it may produce a short-term negative image problem for the retailer,but never a long-term problem.

Identify the correct statement about habitual problem solving.

Perspectives on Retailing

Retail Strategic Planning and Operations Management

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