Question 1

Direct mail and catalogue retailing are examples of:

Accepted Answer

A)  scrambled merchandising.
B)  non-store retailing.
C)  home marketing.
D)  residential marketing.E) C) and D)
F) None of the above

Question 2

Describe the concept of faster retailing and provide some recommendations to retailers who are looking to address the issue.

Accepted Answer

The answer of Describe the concept of faster retailing and...

Question 3

When compared to discount stores, off-price retailers:

Accepted Answer

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

Question 4

By 2017, 65% of the global population will be using a mobile phone. This is a leading reason for increase in:

Accepted Answer

A)  online retailing.
B)  travel retailing.
C)  faster retailing.
D)  mobile retailing.E) B) and C)
F) C) and D)

Question 5

Tudor Laundry is a new dry-cleaning and laundry company. The owner wants to attract people who will be within a 5 to 10 minute drive of the business. The best location for this new dry-cleaning and laundry service would be:

Accepted Answer

A)  a strip location.
B)  a regional shopping centre.
C)  the central business district.
D)  a community shopping centre.E) A) and B)
F) A) and C)

Question 6

Intangibles such as a sense of belonging, excitement, style, or warmth are considered to be__________ of a store's image.

Accepted Answer

A)  psychological attributes
B)  sociological qualities
C)  antecedent attributes
D)  functional qualitiesE) A) and B)
F) A) and D)

Question 7

Throughout the course of a day, a coffee shop replaces, on average, twenty cups of coffee because consumers or employees knocked them over or dropped them by accident. The coffee shop considers these spills as:

Accepted Answer

A)  Sponging.
B)  Spoilage.
C)  Spunking.
D)  Shrinkage.E) B) and C)
F) All of the above

Question 8

Franchising is attractive for the franchisee because:

Accepted Answer

A)  it offers the franchisee the opportunity to enter into a well-known, established business where managerial advice is provided.
B)  it relieves the franchisee from any company or product liabilities.
C)  the license fees paid to the franchisor is the only fees the franchisee pays.
D)  it gives the franchisee complete control over the delivery and presentation of merchandise.E) B) and D)
F) All of the above

Question 9

Which type of store gives shoppers the greatest variety of merchandise?

Accepted Answer

A)  a clothing outlet
B)  a limited line gift store
C)  a specialty clothing store
D)  a hypermarketE) C) and D)
F) B) and C)

Question 10

Explain the relationship between a franchisee and a franchisor.

Accepted Answer

The answer of Explain the relationship between a franchisee and...

Question 11

When retailers set prices on new models or styles of products, the prices of existing models must often be:

Accepted Answer

A)  marked up.
B)  off-priced.
C)  value-added .
D)  marked down.E) B) and C)
F) None of the above

Question 12

To successfully position a store, it:

Accepted Answer

A)  must have an identity that has some advantage over the competitors that is recognized by consumers.
B)  must be in an MSA with at least one other competitor in the same industry.
C)  should be located in either a strip location or in a regional shopping mall.
D)  must be in an area where the average per capita income meets or exceeds the national average.E) All of the above
F) C) and D)

Question 13

A Woman's Place is a retail store, created and staffed by women, that offers products and services relating to maternity needs. In addition, for expectant mothers it offers advice, personal shopping services, help with hair and/or make-up problems, and free delivery. A Woman's Place is an example of a(n)  ________retailer.

Accepted Answer

A)  minimal service
B)  exclusive service
C)  self-service
D)  full-serviceE) None of the above
F) A) and B)

Question 14

Figure 15-7
 
-According to Figure 15-7, both market share and profit achieve their greatest growth rates during which stage?

Accepted Answer

A)  "A" early growth
B)  "B" accelerated development
C)  "C" maturity
D)  "D" declineE) B) and C)
F) C) and D)

Question 15

Which store location consists of 50 to 150 stores that typically attract customers who live or work within an 8 to 16 km range and often contains two or three anchor stores, which are well-known national or regional stores, such as Sears and Hudson's Bay?

Accepted Answer

A)  central business district
B)  community shopping centre
C)  regional shopping centre
D)  strip locationE) A) and D)
F) None of the above

Question 16

One of the major reasons online stores can offer lower prices than their brick-and-mortar counterparts is because they have:

Accepted Answer

A)  faster delivery
B)  larger market
C)  can offer more products
D)  less overhead costsE) All of the above
F) A) and B)

Question 17

As a national franchisor, McDonald's assists its franchisees in selecting the store location, setting up the store, advertising, and:

Accepted Answer

A)  keeping premises clean.
B)  training personnel.
C)  shopping for the best food values.
D)  paying their bills promptly.E) C) and D)
F) B) and C)

Question 18

Retailers are facing challenges to sustain their growth for the future. Which one of the following would NOT represent a challenge for retailers to sustain their growth?

Accepted Answer

A)  Providing faster delivery service to get products to consumers faster.
B)  Use of mobile technology including apps, mobile payments, and wearables.
C)  Better understanding of the experience the Canadian shopper desires.
D)  Providing a satisfying customer experience to the travelling shopper.E) A) and D)
F) None of the above

Question 19

List the six store locations, or settings. How has the location of stores changed over the years?

Accepted Answer

The answer of List the six store locations, or settings....

Question 20

You are developing a retailing strategy for a new women's clothing store. Your strategy should consider each of the following EXCEPT:

Accepted Answer

A)  establishing a retail image that differentiates the store from its chief competitors.
B)  developing a retail mix that corresponds to the neighbourhood where located.
C)  positioning the store based on the retail positioning matrix of breadth of product line and value added.
D)  selecting suppliers who will offer volume and seasonal discounts.E) A) and C)
F) None of the above

Exam 15: Retailing

When retailers set prices on new models or styles of products, the prices of existing models must often be:

Correct Answer
verified

Intangibles such as a sense of belonging, excitement, style, or warmth are considered to be__________ of a store's image.

Correct Answer
verified

Direct mail and catalogue retailing are examples of:

Correct Answer
verified

To successfully position a store, it:

Correct Answer
verified

Describe the concept of faster retailing and provide some recommendations to retailers who are looking to address the issue.

Correct Answer
verified

Franchising is attractive for the franchisee because:

Correct Answer
verified

Explain the relationship between a franchisee and a franchisor.

Correct Answer
verified

By 2017, 65% of the global population will be using a mobile phone. This is a leading reason for increase in:

Correct Answer
verified

Correct Answer
verified

Which type of store gives shoppers the greatest variety of merchandise?

Correct Answer
verified

Figure 15-7 -According to Figure 15-7, both market share and profit achieve their greatest growth rates during which stage?

Correct Answer
verified

Retailers are facing challenges to sustain their growth for the future. Which one of the following would NOT represent a challenge for retailers to sustain their growth?

Correct Answer
verified

You are developing a retailing strategy for a new women's clothing store. Your strategy should consider each of the following EXCEPT:

Correct Answer
verified

One of the major reasons online stores can offer lower prices than their brick-and-mortar counterparts is because they have:

Correct Answer
verified

Throughout the course of a day, a coffee shop replaces, on average, twenty cups of coffee because consumers or employees knocked them over or dropped them by accident. The coffee shop considers these spills as:

Correct Answer
verified

Tudor Laundry is a new dry-cleaning and laundry company. The owner wants to attract people who will be within a 5 to 10 minute drive of the business. The best location for this new dry-cleaning and laundry service would be:

Correct Answer
verified

When compared to discount stores, off-price retailers:

Correct Answer
verified

As a national franchisor, McDonald's assists its franchisees in selecting the store location, setting up the store, advertising, and:

Correct Answer
verified

Which store location consists of 50 to 150 stores that typically attract customers who live or work within an 8 to 16 km range and often contains two or three anchor stores, which are well-known national or regional stores, such as Sears and Hudson's Bay?

Correct Answer
verified

List the six store locations, or settings. How has the location of stores changed over the years?

Correct Answer
verified

Exam 15: Retailing

When retailers set prices on new models or styles of products, the prices of existing models must often be:

Correct AnswerverifiedShow Answer

Intangibles such as a sense of belonging, excitement, style, or warmth are considered to be__________ of a store's image.

Correct AnswerverifiedShow Answer

Direct mail and catalogue retailing are examples of:

Correct AnswerverifiedShow Answer

To successfully position a store, it:

Correct AnswerverifiedShow Answer

Describe the concept of faster retailing and provide some recommendations to retailers who are looking to address the issue.

Correct AnswerverifiedShow Answer

Franchising is attractive for the franchisee because:

Correct AnswerverifiedShow Answer

Explain the relationship between a franchisee and a franchisor.

Correct AnswerverifiedShow Answer

By 2017, 65% of the global population will be using a mobile phone. This is a leading reason for increase in:

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which type of store gives shoppers the greatest variety of merchandise?

Correct AnswerverifiedShow Answer

Figure 15-7 -According to Figure 15-7, both market share and profit achieve their greatest growth rates during which stage?

Correct AnswerverifiedShow Answer

Retailers are facing challenges to sustain their growth for the future. Which one of the following would NOT represent a challenge for retailers to sustain their growth?

Correct AnswerverifiedShow Answer

You are developing a retailing strategy for a new women's clothing store. Your strategy should consider each of the following EXCEPT:

Correct AnswerverifiedShow Answer

One of the major reasons online stores can offer lower prices than their brick-and-mortar counterparts is because they have:

Correct AnswerverifiedShow Answer

Throughout the course of a day, a coffee shop replaces, on average, twenty cups of coffee because consumers or employees knocked them over or dropped them by accident. The coffee shop considers these spills as:

Correct AnswerverifiedShow Answer

Tudor Laundry is a new dry-cleaning and laundry company. The owner wants to attract people who will be within a 5 to 10 minute drive of the business. The best location for this new dry-cleaning and laundry service would be:

Correct AnswerverifiedShow Answer

When compared to discount stores, off-price retailers:

Correct AnswerverifiedShow Answer

As a national franchisor, McDonald's assists its franchisees in selecting the store location, setting up the store, advertising, and:

Correct AnswerverifiedShow Answer

Which store location consists of 50 to 150 stores that typically attract customers who live or work within an 8 to 16 km range and often contains two or three anchor stores, which are well-known national or regional stores, such as Sears and Hudson's Bay?

Correct AnswerverifiedShow Answer

List the six store locations, or settings. How has the location of stores changed over the years?

Correct AnswerverifiedShow Answer

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