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_ refers to the number of different merchandise categories a retailer offers Select one: a Inventory mixture b Product measurement c Product depth d Variety e Assortment Question Answer saved Marked out of 1,00 Flag question Question text Customers have two sources of information to help make purchasing decisions: intrinsic and extrinsic True or False? Select one: True False Question Answer saved Marked out of 1,00 Flag question Question text In a franchise contract, the franchisee pays the franchisor a _ Select one: a bonus if the sales quota is achieved b lump sum plus a royalty on all sales c start-up costs plus a monthly predetermined cash amount d commission on all sales e salary plus a variety of employee benefits Question Answer saved Marked out of 1,00 Flag question Question text Commuters who speed to work might find it handy to have a radar detector By owning one of these, a commuter can know when her car was being monitored for speed, and can slow the car accordingly The radar detector would satisfy a need Select one: a psychological b motivational c utilitarian d physiological e social Question Answer saved Marked out of 1,00 Flag question Question text Grocers purchase pineapples from several different tropical countries When pineapples arrive in the distribution centers across the United States, containers are reduced to amounts that are appropriate for store delivery Once delivered to the stores, associates open the cartons and arrange the pineapples for the consumer to select Grocers are performing what function? Select one: a adaptive selling b breaking bulk c acclimating d distribution e transferring Question Answer saved Marked out of 1,00 Flag question Question text If a chain of florist shops opened a plant nursery to provide gift plants and cut flowers to all of its stores within a 300-mile radius, the chain would be practicing Select one: a vertical integration b channel expansion c horizontal expansion d opportunity incrementing e service marketing Question Answer saved Marked out of 1,00 Flag question Question text The drugstore industry has seen a decrease in their annual sales mainly due to _ Select one: a higher prices on prescription drugs b pharmacies in full-line discount stores c the aging population d government regulations on pharmaceutical sales Question Answer saved Marked out of 1,00 Flag question Question text Since it set up a free daycare center for its shoppers, Ingrid has developed great for the Raleigh County Kroger store She wouldn't consider going to another store, and having to contend with her 2-year old, while she is trying to decide what to buy Select one: a store awareness b consumer attachment c store loyalty d brand recognition e brand awareness Question Answer saved Marked out of 1,00 Flag question Question text In a franchise contract, the franchisor _ Select one: a makes sure all franchise outlets provide the same quality of service and products b agrees to operate a franchise outlet in accordance with procedures prescribed in the contract c agrees to pay a royalty to the franchisee d is given permission to use a franchise name and format e does all of these things Question 10 Answer saved Marked out of 1,00 Flag question Question text What would be a measure of retailers' success at converting positive evaluations into purchases? Select one: a The number of traffic at a store b The number of visits on a Web site c The number of browsing page on a Web site d The time spent at a store e The number of abandoned carts on a Web site Question 11 Answer saved Marked out of 1,00 Flag question Question text Which of the following is NOT a stage in the buying process? Select one: a Evaluation b Making a selection c Need recognition d Searching for information e Desire Question 12 Answer saved Marked out of 1,00 Flag question Question text _ occurs when a manufacturer undertakes retailing activities Select one: a Globalization b Product-related marketing c Backward integration d Horizontal integration e Forward integration Question 13 Answer saved Marked out of 1,00 Flag question Question text Which of the following is NOT true in describing issues in multichannel retailing? Select one: a Many retailers are struggling to integrate the shopping experience across all their channels b Legacy systems along with disconnected customer and inventory databases hamper retailers' ability to maintain consistency across channels c Technology upgrades are inexpensive for retailers to integrate all systems at once d Multichannel retailers try to provide features and services that offer a good customer experience Question 14 Answer saved Marked out of 1,00 Flag question Question text Warehouse clubs: Select one: a have extensive assortments b expensive store designs and aesthetics c high inventory holding costs d sell merchandise in a no-frills atmosphere e provide extensive customer service Question 15 Answer saved Marked out of 1,00 Flag question Question text While waiting in the check out line at Target, Autumn spotted a nail care kit displayed amongst the candy and batteries She liked it, so she asked the cashier to add it to her bill What kind of limited problem solving did Autumn engage in? Select one: a Extended problem solving b Frequent shopper loyalty c Impulse buying d Habitual decision making e Psychological problem solving Question 16 Answer saved Marked out of 1,00 Flag question Question text Assortment is often referred to as the Select one: a breadth of merchandise b complete retail offering c depth of merchandise d object of the buy e retail mix Question 17 Answer saved Marked out of 1,00 Flag question Question text Customers engage in this type of buying process when they have had some prior experience with the product or service and their risk is moderate: Select one: a Extended problem solving b Habitual decision making c Impulsive problem solving d Limited problem solving e Psychological problem solving Question 18 Answer saved Marked out of 1,00 Flag question Question text A multi-channel retailer is one that: Select one: a is a combination of single channel retailers b channels all assortments through the stores c works with other retailers who are in the channel d sells merchandise or services through more than one channel e buys merchandise from multiple channels to sell in the stores Question 19 Answer saved Marked out of 1,00 Flag question Question text How can a service retailer best cope with the problems associated with the inconsistency of service? Select one: a Use low prices during off-seasons to help match supply and demand b Use mass production c Emphasize quality control d Train and motivate employees e Increase staffing at peak demand times Question 20 Answer saved Marked out of 1,00 Flag question Question text Which of the following is NOT TRUE in describing characteristics of franchise? Select one: a The franchise ownership format attempts to combine the advantages of ownermanaged businesses with the efficiencies of centralized decision making in chain store operations b Franchisees are motivated to make their stores successful because they receive the profits c The franchisor is motivated to develop new products and to promote the franchise because it receives a royalty on all sales d The franchisor is solely responsible for financing advertising, product development, and system development Question 21 Answer saved Marked out of 1,00 Flag question Question text The offering of merchandise NOT typically associated with the store type is called: Select one: a scrambled merchandising b intratype competition c product diversification d channel conflict e vertical differentiation Question 22 Answer saved Marked out of 1,00 d focus on improving performance on benefits important to their target market e increase the belief about its performance Question 29 Answer saved Marked out of 1,00 Flag question Question text A purchase decision process in which customers devote considerable time and effort analyzing alternatives is called: Select one: a Adaptive selling b Consumerism c Extended problem solving d Habitual decision making e Limited problem solving Question 30 Answer saved Marked out of 1,00 Flag question Question text The percentage of total purchases made by a customer in your store is called: Select one: a share of wallet b worth of wallet c share of value d profit logic e potential wallet Question 31 Not yet answered Marked out of 1,00 Flag question Question text JCPenney's promotions claim that a person can order gift merchandise online, have it shipped across the country, and the recipient can exchange it at a local store if necessary By emphasizing these benefits that customers don't normally consider, JCPenney increases the chances of customer shopping at its store by _ Select one: a decreasing an importance weight b increasing a performance belief c decreasing the performance belief for competitive retailer d adding a benefit Question 32 Not yet answered Marked out of 1,00 Flag question Question text An issue of Consumer Reports that evaluates brands of table saws would serve as a source of as it provides Lewis with useful knowledge about available features, convenience of use, and machine quality Select one: a rational information b primary data c selective data d motivational data e external information Question 33 Not yet answered Marked out of 1,00 Flag question Question text What is a way that retailers can reduce channel migration? Select one: a Promote private-label merchandise that can be purchased only from that retailer b Persuade suppliers to increase their sales forecasts c Encourage vendors to deliver complete assortments d Increase efficiencies of supply chain management e None of the above Question 34 Not yet answered Marked out of 1,00 Flag question Question text Which of the following statements about warehouse clubs is TRUE? Select one: a Warehouse clubs only sell to ultimate consumers b Warehouse clubs have a category specialist format c Warehouse clubs typically have low inventory holding costs d Warehouse clubs have extensive merchandise depth Question 35 Not yet answered Marked out of 1,00 Flag question Question text Whereas conventional supermarkets carry about 30,000 SKUs, limited assortment supermarkets or extreme value food retailers only stock 2000 SKUs Which of the following is NOT the advantage of stocking lesser SKUs? Select one: a Less inventory holding costs b Less backup stocks c Less inventory investments d More inventory turnover e Lower transportation costs Question 36 Not yet answered Marked out of 1,00 Flag question Question text he retail market segments for licensed World Wrestling Federation shirts, jackets, and hats are 6- to 17- year old boys, 18- to 24-year old women, and 18- to 44-year old men This retail market segment is based on _ segmentation Select one: a lifestyle b geographic c cultural d psychographic e demographic Question 37 Not yet answered Marked out of 1,00 Flag question Question text The imminent approach of Halloween pushes millions of homeowners to go out and purchase candy corn Halloween stimulates a which is part of the buying process Select one: a choice of alternatives b need recognition c information search d post-purchase satisfaction e evaluation of consideration sets Question 38 Not yet answered Marked out of 1,00 Flag question Question text McKenna was shopping for a new electric mixer Online she found the perfect one at williams- sonoma.com, but when she went to the Williams-Sonoma store, she found the same mixer for $15 more The retailer has a problem with: Select one: a depth of merchandise prices b a corporate problem between channels c price inconsistency across channels d product inconsistency e None of the above Question 39 Not yet answered Marked out of 1,00 Flag question Question text When products are purchased to satisfy psychological needs, utilitarian characteristics are less important True or False? Select one: True False Question 40 Not yet answered Marked out of 1,00 Flag question Question text A is a business that sells products and/or services to consumers for their personal or family use Select one: a manufacturer b wholesaler c retailer d distributor e None of the above When Austin saw pastries and coffee being sold at his local bookstore, he knew it was an example of _, which is the juxtaposition of unrelated merchandise in the store Select one: a scrambled merchandising b intratype competition c product diversification d channel conflict e vertical differentiation Question 42 Not yet answered Marked out of 1,00 Flag question Question text What is retailing? Select one: a It is the merchandising component of the retail mix b It is the set of business activities that adds value to the products and services sold to consumers for their personal use c It is the strategy retailers and vendors use to get products into the stores d It is the process of offering products in smaller quantities for consumer consumption patterns e It is the ability to offer enough variety in a store to encourage one-stop shopping Question 43 Not yet answered Marked out of 1,00 Flag question Question text One of the functions retailers undertake to increase the customer's perception of value is providing services Which of the following is NOT an example of that activity? Select one: a clean restrooms b displaying merchandise c having trained salespeople available to answer questions d parking lot with a lot of lighting e having crisp dollar bills for change Question 44 Not yet answered Marked out of 1,00 Flag question Question text An advantage of a large retail chain is that it can respond quickly to market changes and customer needs True or False? Select one: True False Question 45 Not yet answered Marked out of 1,00 Flag question Question text Providing assortments is an advantageous business activity because: Select one: a it enables the company to create a more informational and entertaining environment that would promote more sales b it enables the company to reinvest for the future of the business c it enables the customer to choose from a wide selection of brands, designs, sizes and prices all in one store d it enables the customer to try more products e it enables the customer to stock up on the assortments because of bulk availability Question 46 Not yet answered Marked out of 1,00 Flag question Question text How can a service retailer best cope with the problems associated with the intangibility of service? Select one: a Use low prices during off-seasons to help match supply and demand b Use mass production c Emphasize quality control d Solicit customer evaluations and complaints e Increase staffing at peak demand times Question 47 Not yet answered Marked out of 1,00 Flag question Question text occurs when a manufacturer sells directly to consumers bypassing retailers Select one: a Disintermediation b A distribution detour c Leapfrog marketing d Distribution disruption e Customer circumvention Question 48 Not yet answered Marked out of 1,00 Flag question Question text Disintermediation occurs when Select one: a a manufacturer sells directly to a wholesaler who then sells to a retailer b a retailer purchases from a few wholesalers resulting in increased competition and price c a manufacturer sells directly to other manufacturers who distributes to an array of wholesalers d a manufacturer sells directly to consumers, bypassing retailers e wholesalers disagree about the agreements between the manufacturer and the retailer Question 49 Not yet answered Marked out of 1,00 Flag question Question text Off-price retailers will often sell merchandise less than the MSRP which means: Select one: a the merchandise sales are profitable b the merchandise is sold below the suggested retail price c the merchandise is sold below the suggested realized profit d the merchandise is sold less than the surrounding retail competitors Question 50 Not yet answered Marked out of 1,00 Flag question Question text Food retailers experience better financial performance than retailers that focus on hard and soft line products True or False? Select one: True False Question 51 Not yet answered Marked out of 1,00 Flag question Question text Which of the following is the biggest threat to convenience stores? Select one: a Increasing prices on convenience foods b Supermarket chains also offering gasoline c Vending machines d Consumers having more expendable time to shop and compare prices e Off-price retailers Question 52 Not yet answered Marked out of 1,00 Flag question Question text In the 1960's, bands like the Beatles and the Rolling Stones influenced culture Students grew their hair, wore beads, and became more socially conscious about war, segregation, and family The culture looked upon bands like these for inspiration and encouragement It can be said that people like John Lennon and Mick Jagger were part of the American: Select one: a Culture b Family c Reference group d Peer group e Subculture Question 53 Not yet answered Marked out of 1,00 Flag question Question text Matt used to shop for electronics at the closest Best Buy store But now that he has his iPad, he does his electronic shopping online at bestbuy.com instead of in a Best Buy store This is an example of _ Select one: a leveraging b efficient fulfillment c inconsistent execution of services d cannibalization e market presence Question 54 Not yet answered Marked out of 1,00 Flag question Question text A(n) is a set of firms that make and deliver a given set of goods and services to the ultimate consumer Select one: a supply chain b buying network c trade association d integrated wholesale network e network Question 55 Not yet answered Marked out of 1,00 Flag question Question text Which of the following is ONLY a benefit of store channel shopping? Select one: a Convenience b Personal safety c Personalization d Immediate gratification e Broad and deep assortments Question 56 Not yet answered Marked out of 1,00 Flag question Question text When consumers collect product information on a retailer's website but buy the product from another retailer's store it is referred to as Select one: a channel migration b cross-shopping c multi-channel users d entrepreneurs e electronic agents Question 57 Not yet answered Marked out of 1,00 Flag question Question text A retailer that sells merchandise and/or services through more than one channel is called a/an: Select one: a computerized retailer b direct seller c electronic retailer d single-channel retailer e multi-channel retailer Question 58 Not yet answered Marked out of 1,00 Flag question Question text What is the word used to describe a retailer's merchandise ""depth""? Select one: a Apparition b Assortment c Modicum d Variety e Product Question 59 Not yet answered Marked out of 1,00 Flag question Question text Which of the following does NOT describe tactics that retailers use to convert positive evaluations of the merchandises or services to purchases? Select one: a Making a Website easy to navigate b Offering online reviews to reduce perceived risks c Offering liberal return policies d Offering entertaining graphics on a Web site e Offering more checkout lanes during heavy traffic times Question 60 Not yet answered Marked out of 1,00 Flag question Question text Automated retailing: Select one: a is most effective in high traffic areas b is based on the idea that social relationships influence buying habits c uses a master distributor as lead salesperson d is a recruiting tool for multilevel networks ... of 1, 00 Flag question Question text he retail market segments for licensed World Wrestling Federation shirts, jackets, and hats are 6- to 17 - year old boys, 18 - to 24-year old women, and 18 -... The time spent at a store e The number of abandoned carts on a Web site Question 11 Answer saved Marked out of 1, 00 Flag question Question text Which of the following is NOT a stage in the buying... Making a selection c Need recognition d Searching for information e Desire Question 12 Answer saved Marked out of 1, 00 Flag question Question text _ occurs when a manufacturer undertakes retailing