Question 1

The first element in the retailing mix is the _____.

Accepted Answer

A)  retail promotion
B)  product offering
C)  retail location
D)  product pricingE) All of the above
F) B) and D)

Question 2

_____ is the technique used to sift through the data collected by point-of-purchase scanning equipment.

Accepted Answer

A)  Big data analysis
B)  Shopper marketing
C)  Market-basket analysis
D)  Shopper analyticsE) C) and D)
F) A) and B)

Question 3

Shopper marketing is responsible for the decline of the partnership trend between brand manufacturers and specific retailers.

Accepted Answer

A) True 
 B)False

Question 4

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. Since service industr...

Question 5

_____ is an emerging retailing trend that employs market data to best serve customers as they prepare to make a purchase.

Accepted Answer

A)  Channel omnification
B)  Click-and-collect
C)  Shopper marketing
D)  Cloud computingE) All of the above
F) A) and C)

Question 6

Unlike off-price retailers, specialty shops:

Accepted Answer

A)  adopt an operating model that implies low prices for customers.
B)  focus on lean inventory management.
C)  can accommodate a broader range of customer demands.
D)  de-emphasize customer service and product selection.E) None of the above
F) A) and D)

Question 7

Retailers can better acquire and use assets when they customize store layouts and merchandise mixes to the tastes of local consumer bases.

Accepted Answer

A) True 
 B)False

Question 8

In a franchise, a franchisor pays a franchisee for the right to use its name, product, and methods of operation.

Accepted Answer

A) True 
 B)False

Question 9

A _____ is a discount store that carries a vast depth and breadth of product within a single product category.

Accepted Answer

A)  supercenter
B)  specialty discount store
C)  warehouse club
D)  full-line discount storeE) None of the above
F) C) and D)

Question 10

In addition to making shopping easy and convenient for the customer, an effective layout:

Accepted Answer

A)  heightens the olfactory sense of the customers.
B)  provides customers with the ability to easily replace sold items.
C)  can persuade customers to purchase expensive products.
D)  has a powerful influence on traffic patterns and purchasing behavior.E) B) and D)
F) B) and C)

Question 11

Salespeople should practice trading-up techniques, whether customers need those products or not, to increase overall product sales.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following statements is true of retail channel omnification?

Accepted Answer

A)  Physical and online stores are combined into a single system for delivering on customer demand.
B)  Consumers are required to pick up their orders from a physical store after purchasing them online.
C)  Physical stores are replaced by warehouses to store goods that can be purchased online.
D)  Consumers are required to visit physical stores before getting access to their online store.E) B) and C)
F) A) and D)

Question 13

The use of mobile devices and social media while browsing, comparison shopping, and making a purchase limits retailers from accessing any useful information about their customers, thereby giving retailers no concrete way to appeal to shoppers.

Accepted Answer

A) True 
 B)False

Question 14

In-store retailing adds a level of convenience for customers who wish to shop from their current locations.

Accepted Answer

A) True 
 B)False

Question 15

_____ represents all the activities directly related to the sale of goods and services to the ultimate consumer for personal, nonbusiness use.

Accepted Answer

A)  Product development
B)  Production
C)  Retailing
D)  ManufacturingE) All of the above
F) A) and B)

Question 16

Customers are always skeptical about the reasons for retailer errors, however, their reactions to mistakes such as product stockouts and unexpectedly poor quality products are limited to casual indifference.

Accepted Answer

A) True 
 B)False

Question 17

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

Accepted Answer

A) True 
 B)False

Question 18

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)  wholesalerE) None of the above
F) C) and D)

Question 19

The Hunt, a liquor store, is famous for its unique and extensive collection of alcoholic beverages. 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 storeE) B) and C)
F) A) and D)

Question 20

A(n)  _____ is a retail business where the operator is granted a license to operate and sell a product under the brand name of a larger supporting organizational structure.

Accepted Answer

A)  chain store
B)  independent retail store
C)  franchise
D)  factory outletE) A) and B)
F) A) and C)

Exam 14: Retailing

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. Since service industr...View AnswerShow Answer

_____ is the technique used to sift through the data collected by point-of-purchase scanning equipment.

Correct AnswerverifiedShow Answer

Salespeople should practice trading-up techniques, whether customers need those products or not, to increase overall product sales.

Correct AnswerverifiedShow Answer

A _____ is a discount store that carries a vast depth and breadth of product within a single product category.

Correct AnswerverifiedShow Answer

In-store retailing adds a level of convenience for customers who wish to shop from their current locations.

Correct AnswerverifiedShow Answer

Retailers can better acquire and use assets when they customize store layouts and merchandise mixes to the tastes of local consumer bases.

Correct AnswerverifiedShow Answer

Which of the following statements is true of retail channel omnification?

Correct AnswerverifiedShow Answer

A(n) _____ is a retail business where the operator is granted a license to operate and sell a product under the brand name of a larger supporting organizational structure.

Correct AnswerverifiedShow Answer

Shopper marketing is responsible for the decline of the partnership trend between brand manufacturers and specific retailers.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

_____ represents all the activities directly related to the sale of goods and services to the ultimate consumer for personal, nonbusiness use.

Correct AnswerverifiedShow Answer

The Hunt, a liquor store, is famous for its unique and extensive collection of alcoholic beverages. 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 AnswerverifiedShow Answer

In addition to making shopping easy and convenient for the customer, an effective layout:

Correct AnswerverifiedShow Answer

The use of mobile devices and social media while browsing, comparison shopping, and making a purchase limits retailers from accessing any useful information about their customers, thereby giving retailers no concrete way to appeal to shoppers.

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

Customers are always skeptical about the reasons for retailer errors, however, their reactions to mistakes such as product stockouts and unexpectedly poor quality products are limited to casual indifference.

Correct AnswerverifiedShow Answer

_____ is an emerging retailing trend that employs market data to best serve customers as they prepare to make a purchase.

Correct AnswerverifiedShow Answer

Unlike off-price retailers, specialty shops:

Correct AnswerverifiedShow Answer

The first element in the retailing mix is the _____.

Correct AnswerverifiedShow Answer

In a franchise, a franchisor pays a franchisee for the right to use its name, product, and methods of operation.

Correct AnswerverifiedShow Answer

Correct Answer
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Answers will vary. Since service industr...
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