Question 1

Strategic retailing goals typically focus on:

Accepted Answer

A) ​reducing costs of goods sold. 
B) increasing the cost of goods sold.​ 
C) reducing return on assets or equity.​ 
D) not using a retailing mix.​ 
A) ​reducing costs of goods sold. 
B) increasing the cost of goods sold.​ 
C) reducing return on assets or equity.​ 
D) not using a retailing mix.​ A

Question 2

The Hunt,a liquor store,is famous for its unique and extensive collection of alcoholic beverages.Moreover,its employees possess up-to-date knowledge of the liquor available in the store,which allows them to assist customers in their purchasing decisions.The Hunt is an example of a _____.

Accepted Answer

A) ​supermarket 
B) specialty store​ 
C) warehouse club​ 
D) convenience store​ 
A) ​supermarket 
B) specialty store​ 
C) warehouse club​ 
D) convenience store​ B

Question 3

Unlike nonstore retailing,in-store retailing enables customers to shop without visiting a physical store location.

Accepted Answer

A) True 
 B)False  False

Question 4

Which of the following is a disadvantage of a freestanding store location?

Accepted Answer

A) ​It has reduced visibility. 
B) It faces stiff competition from retailers.​ 
C) It has high site cost and rent and a lot of nearby competitors.​ 
D) It may be hard to attract customers to a freestanding location.​ 
A) ​It has reduced visibility. 
B) It faces stiff competition from retailers.​ 
C) It has high site cost and rent and a lot of nearby competitors.​ 
D) It may be hard to attract customers to a freestanding location.​

Question 5

The goal of tactical retailing is to:

Accepted Answer

A) ​eliminate the need of segmenting a market. 
B) increase the sales of a specific item.​ 
C) increase overhead costs.​ 
D) eliminate the need of new advertising campaigns.​ 
A) ​eliminate the need of segmenting a market. 
B) increase the sales of a specific item.​ 
C) increase overhead costs.​ 
D) eliminate the need of new advertising campaigns.​

Question 6

Briefly explain the actions a retailer should take to address retail product/service failures.

Accepted Answer

Answers will vary.The best retailers hav

Question 7

Will,a sales person at a superstore,mistakenly provides wrong information to a customer about the location of a specific brand of dishwashing liquid.The customer,as a result,wastes time searching for the product.This is an example of brand cannibalization.

Accepted Answer

A) True 
 B)False

Question 8

_____ is a selling technique that seeks to broaden customers' original purchases with related items.

Accepted Answer

A) ​Suggestion selling 
B) Co-marketing​ 
C) Shopper marketing​ 
D) Benefit selling​ 
A) ​Suggestion selling 
B) Co-marketing​ 
C) Shopper marketing​ 
D) Benefit selling​

Question 9

_____ is the technique used to sift through data collected by point-of-purchase scanning equipment and help retailers find ideal locations for each product.

Accepted Answer

A) ​Big data analysis 
B) Shopper marketing​ 
C) Market-basket analysis​ 
D) Shopper analytics​ 
A) ​Big data analysis 
B) Shopper marketing​ 
C) Market-basket analysis​ 
D) Shopper analytics​

Question 10

Target markets in retailing are defined by demographics,geographic boundaries,and psychographics.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following statements is true of specialty stores?

Accepted Answer

A) ​They have the widest product assortment among other retail establishments. 
B) They offer virtually no service to customers.​ 
C) They use low prices and discounts to lure shoppers.​ 
D) They carry narrow product lines that are considerably deep.​ 
A) ​They have the widest product assortment among other retail establishments. 
B) They offer virtually no service to customers.​ 
C) They use low prices and discounts to lure shoppers.​ 
D) They carry narrow product lines that are considerably deep.​

Question 12

Which of the following is a similarity between factory outlets and off-price retailers?

Accepted Answer

A) ​Both use low prices and discounts to lure shoppers. 
B) Both offer high levels of customized service to customers.​ 
C) Both follow an agile approach to inventory.​ 
D) Both carry multiple product lines that are considerably deep.​ 
A) ​Both use low prices and discounts to lure shoppers. 
B) Both offer high levels of customized service to customers.​ 
C) Both follow an agile approach to inventory.​ 
D) Both carry multiple product lines that are considerably deep.​

Question 13

Why is it important to maintain service quality in service industries? Explain the four areas that service distribution should focus on to maintain the quality of service.

Accepted Answer

Answers will vary.Because service indust

Question 14

Which of the following is a difference between off-price retailers and specialty shops?

Accepted Answer

A) ​Off-price retailers keep a greater amount of floor stock, whereas specialty shops keep a lesser amount of floor stock. 
B) Off-price retailers charge higher prices for customers, whereas specialty shops charge lower prices for customers.​ 
C) Off-price retailers focus on lean inventory management, whereas specialty shops have an agile approach to inventory.​ 
D) Off-price retailers focus on providing high quality customer service, whereas specialty shops de-emphasize customer service.​ 
A) ​Off-price retailers keep a greater amount of floor stock, whereas specialty shops keep a lesser amount of floor stock. 
B) Off-price retailers charge higher prices for customers, whereas specialty shops charge lower prices for customers.​ 
C) Off-price retailers focus on lean inventory management, whereas specialty shops have an agile approach to inventory.​ 
D) Off-price retailers focus on providing high quality customer service, whereas specialty shops de-emphasize customer service.​

Question 15

Shopper analytics is used in searching for and discovering meaningful patterns in shopper data for the purpose of fine-tuning,developing,or changing market offerings.

Accepted Answer

A) True 
 B)False

Question 16

_____ is a form of nonstore retailing that entails the use of machines to offer goods for sale.

Accepted Answer

A) ​Direct retailing 
B) Telemarketing​ 
C) Automatic vending​ 
D) E-tailing​ 
A) ​Direct retailing 
B) Telemarketing​ 
C) Automatic vending​ 
D) E-tailing​

Question 17

Determining a target market is optional while creating the retailing mix.

Accepted Answer

A) True 
 B)False

Question 18

Briefly explain the process of defining a target market.

Accepted Answer

Answers will vary.The first and foremost

Question 19

A _____ is the originator of a trade name,product,methods of operation,and the like that grants operating rights to another party to sell its product.

Accepted Answer

A) ​broker 
B) franchisor​ 
C) consumer​ 
D) wholesaler​ 
A) ​broker 
B) franchisor​ 
C) consumer​ 
D) wholesaler​

Question 20

Which of the following statements is true of service failures?

Accepted Answer

A) ​They can be eliminated by successful market segmentation. 
B) Retailers cannot recover from service failures.​ 
C) They can be solved by cancelling return policies.​ 
D) If handled effectively, they will result in customer loyalty.​ 
A) ​They can be eliminated by successful market segmentation. 
B) Retailers cannot recover from service failures.​ 
C) They can be solved by cancelling return policies.​ 
D) If handled effectively, they will result in customer loyalty.​

Strategic retailing goals typically focus on:

The Hunt,a liquor store,is famous for its unique and extensive collection of alcoholic beverages.Moreover,its employees possess up-to-date knowledge of the liquor available in the store,which allows them to assist customers in their purchasing decisions.The Hunt is an example of a _____.

Unlike nonstore retailing,in-store retailing enables customers to shop without visiting a physical store location.

Which of the following is a disadvantage of a freestanding store location?

The goal of tactical retailing is to:

Briefly explain the actions a retailer should take to address retail product/service failures.

Will,a sales person at a superstore,mistakenly provides wrong information to a customer about the location of a specific brand of dishwashing liquid.The customer,as a result,wastes time searching for the product.This is an example of brand cannibalization.

_____ is a selling technique that seeks to broaden customers' original purchases with related items.

_____ is the technique used to sift through data collected by point-of-purchase scanning equipment and help retailers find ideal locations for each product.

Target markets in retailing are defined by demographics,geographic boundaries,and psychographics.

Which of the following statements is true of specialty stores?

Which of the following is a similarity between factory outlets and off-price retailers?

Why is it important to maintain service quality in service industries? Explain the four areas that service distribution should focus on to maintain the quality of service.

Which of the following is a difference between off-price retailers and specialty shops?

Shopper analytics is used in searching for and discovering meaningful patterns in shopper data for the purpose of fine-tuning,developing,or changing market offerings.

_____ is a form of nonstore retailing that entails the use of machines to offer goods for sale.

Determining a target market is optional while creating the retailing mix.

Briefly explain the process of defining a target market.

A _____ is the originator of a trade name,product,methods of operation,and the like that grants operating rights to another party to sell its product.

Which of the following statements is true of service failures?

An Overview of Marketing

Strategic Planning for Competitive Advantage

Ethics and Social Responsibility

The Marketing Environment

Developing a Global Vision

Consumer Decision Making

Business Marketing

Segmenting and Targeting Markets

Marketing Research

Product Concepts

Developing and Managing Products

Services and Nonprofit Organization Marketing

Supply Chain Management and Marketing Channels

Marketing Communications

Advertising, Public Relations and Sales Promotion

Personal Selling and Sales Management

Social Media and Marketing

Pricing Concepts

Filters

Exam 14: Retailing

Strategic retailing goals typically focus on:

The Hunt,a liquor store,is famous for its unique and extensive collection of alcoholic beverages.Moreover,its employees possess up-to-date knowledge of the liquor available in the store,which allows them to assist customers in their purchasing decisions.The Hunt is an example of a _____.

Unlike nonstore retailing,in-store retailing enables customers to shop without visiting a physical store location.

Which of the following is a disadvantage of a freestanding store location?

The goal of tactical retailing is to:

Briefly explain the actions a retailer should take to address retail product/service failures.

Will,a sales person at a superstore,mistakenly provides wrong information to a customer about the location of a specific brand of dishwashing liquid.The customer,as a result,wastes time searching for the product.This is an example of brand cannibalization.

_____ is a selling technique that seeks to broaden customers' original purchases with related items.

_____ is the technique used to sift through data collected by point-of-purchase scanning equipment and help retailers find ideal locations for each product.

Target markets in retailing are defined by demographics,geographic boundaries,and psychographics.

Which of the following statements is true of specialty stores?

Which of the following is a similarity between factory outlets and off-price retailers?

Why is it important to maintain service quality in service industries? Explain the four areas that service distribution should focus on to maintain the quality of service.

Which of the following is a difference between off-price retailers and specialty shops?

Shopper analytics is used in searching for and discovering meaningful patterns in shopper data for the purpose of fine-tuning,developing,or changing market offerings.

_____ is a form of nonstore retailing that entails the use of machines to offer goods for sale.

Determining a target market is optional while creating the retailing mix.

Briefly explain the process of defining a target market.

A _____ is the originator of a trade name,product,methods of operation,and the like that grants operating rights to another party to sell its product.

Which of the following statements is true of service failures?

An Overview of Marketing

Strategic Planning for Competitive Advantage

Ethics and Social Responsibility

The Marketing Environment

Developing a Global Vision

Consumer Decision Making

Business Marketing

Segmenting and Targeting Markets

Marketing Research

Product Concepts

Developing and Managing Products

Services and Nonprofit Organization Marketing

Supply Chain Management and Marketing Channels

Marketing Communications

Advertising, Public Relations and Sales Promotion

Personal Selling and Sales Management

Social Media and Marketing

Pricing Concepts

Filters