Question 1

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

Accepted Answer

A) True 
 B)False  False

Question 2

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

Accepted Answer

A) True 
 B)False

Question 3

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.​E) All of the above
F) A) and B)

Question 4

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 5

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.​E) All of the above
F) None of the above

Question 6

Briefly explain the process of defining a target market.

Accepted Answer

Answers will vary.The first and foremost...

Question 7

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 8

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.​E) A) and C)
F) A) and B)

Question 9

_____ 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​E) A) and C)
F) B) and C)

Question 10

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

Accepted Answer

A) True 
 B)False

Question 11

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.​E) A) and B)
F) A) and C) A

Question 12

_____ 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​E) None of the above
F) A) and D)

Question 13

_____ 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​E) A) and B)
F) B) and D)

Question 14

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.​E) None of the above
F) A) and B)

Question 15

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​E) B) and C)
F) A) and D) B

Question 16

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.​E) B) and D)
F) None of the above

Question 17

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​E) B) and C)
F) A) and D)

Question 18

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

Accepted Answer

Answers will vary.The best retailers hav...

Question 19

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 20

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.​E) B) and D)
F) All of the above

Exam 14: Retailing

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

Correct AnswerverifiedFalse

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Briefly explain the process of defining a target market.

Correct AnswerverifiedAnswers will vary.The first and foremost...View AnswerShow Answer

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.

Correct AnswerverifiedShow Answer

The goal of tactical retailing is to:

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Strategic retailing goals typically focus on:

Correct AnswerverifiedA

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following statements is true of service failures?

Correct AnswerverifiedShow Answer

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 _____.

Correct AnswerverifiedB

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

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedAnswers will vary.The best retailers hav...View AnswerShow Answer

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.

Correct AnswerverifiedAnswers will vary.Because service indust...View AnswerShow Answer

Which of the following statements is true of specialty stores?

Correct AnswerverifiedShow Answer

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False

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Answers will vary.The first and foremost...
View Answer

Correct Answer
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A

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B

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Answers will vary.The best retailers hav...
View Answer

Correct Answer
verified
Answers will vary.Because service indust...
View Answer

Correct Answer
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