Question 1

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

Accepted Answer

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

Question 2

How does environmentally friendly retailing operate and why?

Accepted Answer

The answer of How does environmentally friendly retailing operate and...

Question 3

One of the emerging trends for retailers is to embrace technology.Not only must retailers embrace technology they must ______________________.

Accepted Answer

A) use it wisely 
B) use it cheaply 
C) use it globally 
D) use it locally

Question 4

Accelerated development in the retail life cycle is similar to which stage in the product life cycle?

Accepted Answer

A) introduction phase 
B) growth 
C) maturity 
D) decline

Question 5

Independently owned stores that band together to act like a chain are referred to as:

Accepted Answer

A) An administered system 
B) A contractual system 
C) A vertical integration 
D) A franchise

Question 6

Jim is waiting in line at the bank for 20 minutes.When he gets in front of the teller,he asks to deposit the business cheques.The bank teller tells him that he will have to wait in another line instead of trying to assist him right away.This example illustrates which important challenge for retailers in the future?

Accepted Answer

A) knowledgeable salespeople 
B) better signage or communications 
C) more use of technology to reduce customer dissatisfaction 
D) better understanding of the complex Canadian shopper.

Question 7

In response to the changes in Canada,many direct sellers are implementing a _____ strategy,expanding into other countries with their current product lines.

Accepted Answer

A) market development 
B) market penetration 
C) harvesting 
D) product development

Question 8

A supercentre:

Accepted Answer

A) is an auto service center that sells and leases cars as well as repairs them. 
B) is a type of specialty outlet. 
C) combines a typical merchandise store with a full-size grocery. 
D) is a mall with more than 100 stores and several important anchor stores.

Question 9

Specialty discount outlets focus on one type of product,such as electronics,or books,at very competitive prices.These outlets are referred to in the trade as:

Accepted Answer

A) merchandise stores 
B) supercentres 
C) hypermarkets 
D) category killers

Question 10

As part of their community leadership strategy,Tim Hortons is involved in all of the following areas,except:

Accepted Answer

A) Timbits Minor Sports Program 
B) Coffee sustainability partnership program 
C) Animal welfare initiative 
D) Micro-enterprise program

Question 11

The largest inventory of wedding dresses in Maritimes can be found at Low's Bridal and Formal in Halifax,Nova Scotia.Low's Bridal and Formals is an example of a(n):

Accepted Answer

A) specialty outlet. 
B) general merchandise store. 
C) scrambled merchandise store. 
D) intertype outlet.

Question 12

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

Accepted Answer

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

Question 13

Using the foundation described in the text about vending machines and mobile technology,describe the 'vending machine of the future'

Accepted Answer

The answer of Using the foundation described in the text...

Question 14

When compared to discount stores,off-price retailers:

Accepted Answer

A) have a larger target market. 
B) have a larger per capita volume. 
C) sell off-price merchandise, which is bought by the retailer at wholesale prices. 
D) sell off-price merchandise, which is bought by the retailer at below wholesale prices.

Question 15

Rona stores carry over 1000 types of products,ranging from drills to faucets,and garden hoses to houseplants.Rona has a wide:

Accepted Answer

A) level of service. 
B) method of operation. 
C) product variety. 
D) merchandise line.

Question 16

Impressions of the corporation that operates the store,the category or type of store,the product categories in the store,the brands in each category,and the marketing activities of the store,are all elements of a store's retail:

Accepted Answer

A) atmosphere. 
B) image. 
C) psychological attributes. 
D) antecedent states.

Question 17

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) product life cycle 
C) wheel of retailing 
D) service continuum

Question 18

A retailer buys a painting for $200.She sets the price at $450.When the painting doesn't sell after two months,she raises the price to $800 to appeal to a different market.The painting sells for $800 the next day.What is the maintained markup?

Accepted Answer

A) $250 
B) $350 
C) $450 
D) $600

Question 19

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

Accepted Answer

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

Question 20

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

Accepted Answer

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

Exam 15: Retailing