Question 1

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

Accepted Answer

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

Question 2

The merging of duties performed by the retailer and the producer along with new technologies describe which type of retailing?

Accepted Answer

A) Experience retailing. 
B) Innovative retailing. 
C) Mobile retailing. 
D) Fast retailing.

Question 3

Loblaws, a Canadian supermarket, features fruits and vegetables piled high on tables which have umbrellas. The idea behind this arrangement was to give Loblaws "a market feel." In terms of the retailing mix, this tactic was concerned with:

Accepted Answer

A) the location 
B) the merchandise 
C) the price 
D) the communication

Question 4

Indochino is going against the traditional retail lifecycle by starting ________moving to ________ retailing.

Accepted Answer

A) bricks-and-mortar; online 
B) pop-up; online and then 
C) continuous innovation; discontinuous 
D)  online; bricks-and-mortar

Question 5

Figure 15-6
 
-According to Figure 15-6, in which cell would you find the highest prices, margins, and status?

Accepted Answer

A) 1 
B) 2 
C) 3 
D) 4

Question 6

Prices in vending machines tend to be higher because:

Accepted Answer

A) only small unit volume items are sold. 
B) customary pricing requires certain coin amounts regardless of markup. 
C) machines are placed in high demand areas. 
D) maintenance and operating costs are high.

Question 7

Metro Inc., First Choice Haircutters, and Guardian Drugs are retail outlets that can be best classified by:

Accepted Answer

A) method of operation. 
B) merchandise line. 
C) form of ownership. 
D) level of service.

Question 8

Being a full-service retailer can convey a competitive advantage over other non-full-service retailers because of:

Accepted Answer

A) cross-shopping by consumers 
B) increasing use of the internet 
C) comparison shopping by consumers 
D) the new customer experience management era

Question 9

Retailing that occurs outside a retail outlet, such as through direct marketing, direct selling, and automatic vending is classified as:

Accepted Answer

A) Hypermarket 
B) Non-store 
C) Limited-line 
D) Scrambled merchandise

Question 10

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 early growth stage?

Accepted Answer

A) convenience stores 
B) factory outlet stores 
C) value-retail centres 
D) general stores

Question 11

Experience retailing includes all of the following shopping experiences for consumers except:

Accepted Answer

A) engagement. 
B) entertainment. 
C) education. 
D) multichannel.

Question 12

The concept that describes how new forms of retail outlets enter the market and change over time is referred to as the:

Accepted Answer

A) retail life cycle 
B) service continuum 
C) product life cycle 
D) wheel of retailing

Question 13

The expanding middle-class in emerging countries is creating a vibrant international travel industry. Many more of these travelers are shopping while abroad and even in transit. This is an example of:

Accepted Answer

A) travel retailing. 
B) mobile retailing. 
C) online retailing. 
D) faster retailing.

Question 14

Walmart's, Sam's Clubs, and Costco are examples of:

Accepted Answer

A) off-price retailers. 
B) hypermarkets. 
C) one-price apparel chains. 
D) power centres.

Question 15

Amazon.ca would be classified as what form of non-store retailing?

Accepted Answer

A) television home shopping 
B) online retailing 
C) automatic vending 
D) direct mail

Question 16

The top 250 retailers in the world, based on sales, had combined sales of approximately:

Accepted Answer

A) $3.3 trillion 
B) $4.4 trillion 
C) $1.3 trillion 
D) $2.3 trillion

Question 17

A Woman's Place is a retail store, created and staffed by women, that offers products and services relating to maternity needs. It carries in stock 3,000 items for expectant mothers in all dress sizes. This is an example of the ________ A Woman's Place carries.

Accepted Answer

A) depth of product line 
B) versatility of product line 
C) breadth of product line 
D) variety of product line

Question 18

To plan her wedding, Virginia went to HYPERLINK "http://www.theknot.com/" www.theknot.com where she purchased her dress and veil, ordered bridesmaid dresses, linked to a local printer and ordered invitations, and rented a chapel. Virginia used  ________retailing.

Accepted Answer

A) online 
B) catalogue 
C) bricks-and-mortar 
D) general merchandise

Question 19

Many fast food retailers, including McDonald's and Burger King, have followed a predictable pattern of how new forms of retail outlets enter the marketplace. McDonald's has evolved from a relatively simple hamburger joint with low margins,
Low prices, limited product offerings, and low institutional status to a worldwide chain with higher margins, high status, and a diverse list of products. This evolution of
McDonald's restaurants is consistent with the:

Accepted Answer

A) fast food retail cycle. 
B) wheel of retailing. 
C) retail cycle. 
D) evolution of retailing.

Question 20

Denny Howard is an avid fly fisherman who lives in Huston, a very small Newfoundland village. For his hobby, Howard needs large rubber rafts, chest and hip waders, special fishing rods, reels, and line, and an assortment of fishing tackle and lures. There are no sporting goods stores in Huston, so Howard orders his fishing Supplies from an L. L. Bean catalogue. His supplies are generally delivered to his home within 72 hours. Howard is using a ________ to satisfy his fishing supply needs.

Accepted Answer

A) quick response retailer 
B) direct mail marketer 
C) flex response marketer 
D) home delivery retailer

Exam 15: Retailing

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