66 test bank for retailing management 9th edition

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66 Test Bank for Retailing Management 9th Edition

by Levy Multiple Choice Questions - Page 1

The value-creating retail activity that is particularly important to consumers with small living quarters who cannot store a large

quantity of products is:

1 A providing assortments

2 B breaking bulk

3 C holding inventory

4 D providing services

Tech Games, a retailer, purchases many of the video games DVDs, Wii games, and game consoles on a large scale It then offers the products to customers in small quantities based on their

requirements The value-creating function performed by Tech

Games in the given scenario is _

1 A providing assortments

2 B breaking bulk

3 C holding inventory

4 D providing services

5 E creating a retail mix

Shades n Hues is a company producing cosmetics It supplies products to stores and beauty salons and also manages its own retail outlets Therefore, Shades n Hues is engaged in _

1 A forward integration

2 B scrambled merchandising

3 C backward integration

4 D horizontal integration

5 E cross-selling

The U.S retail industry has:

1 A the greatest concentration of large firms

2 B the lowest retail density in the world.

3 C mostly small stores which operate independently

4 D a single large wholesale industry supplying to all retailers

5 E a fragmented distribution system

_ describes the voluntary actions taken by a company to address the ethical, social, and environmental impacts of its

business operations and the concerns of its stakeholders

1 A Forward integration

2 B Corporate social responsibility

3 C Integrity management

4 D Customer engagement

5 E Ethical behavior

_ occurs when a manufacturer undertakes retailing and wholesaling activities.

1 A Merchandising

2 B Exclusive dealing

3 C Backward integration

4 D Horizontal integration

5 E Forward integration

_ arises when a retailer performs some distribution and manufacturing activities, such as operating warehouses or

designing private-label merchandise

1 A Exclusive dealing

2 B Merchandising

3 C Backward integration

4 D Horizontal integration

5 E Forward integration

The Chinese distribution system:

1 A has a combination of large stores and large firms resulting in an efficient distribution system

2 B is characterized by many small and medium-sized firms

3 C has the most number of large retailers operating their own warehouses.

4 D is characterized by a high retail density

_ is the value-creating activity in which a retailer makes

available a wide range of products of different brands and prices at

a single location

1 A Providing services

2 B Breaking bulk

3 C Providing assortments

4 D Holding inventory

5 E Exclusive dealing

Essentials, a retail store, manages its own warehouse It also owns

a manufacturing facility where it produces private-label food

products Therefore, Essentials is practicing _

1 A scrambled merchandising

2 B backward integration

3 C cross-selling

4 D horizontal integration

5 E forward integration

A _ is a business that sells products and/or services to

consumers for their personal or family use

1 A manufacturer

2 B wholesaler

3 C retailer

4 D distributor

5 E none of these

Ruth's Fashions is a popular boutique in Atlanta It has a Web site that answers customer queries and also provides information on new arrivals and discounts Customers also receive product

information on their mobile phones From the given example, it can

be seen that Ruth's Fashions is involved in _, which is a value-creating activity

1 A breaking bulk

2 B holding inventory

3 C providing assortments

4 D exclusive distribution

5 E providing services

Which of the following statements about retailers holding inventory

is FALSE?

1 A This activity benefits customers with limited storage space, such as families living in small apartments

2 B It allows manufacturers to efficiently make and ship merchandise in larger quantities

3 C Holding inventory in a store helps serve customers' needs

4 D Retailers keep inventory so products are available when consumers want them

5 E Holding inventory reduces consumer's cost of storing products

A major value-providing activity performed by retailers is _, so that products will be available when consumers want them

1 A breaking bulk

2 B holding inventory

3 C scrambled merchandising

4 D backward integration

5 E providing assortments

Which of the following is NOT TRUE of distribution systems of the major international markets?

1 A The U.S distribution system has the greatest retail density and the greatest concentration of large retail firms

2 B The Indian distribution systems are characterized by small stores operated

by small firms and a large independent wholesale industry

3 C In the Chinese distribution system, the merchandise often passes through several levels of distribution to make the daily deliveries to the small retailers efficient

4 D Northern European retailing is similar to efficient distribution systems in the U.S

5 E Indian and European economic policies are aimed at merging small

independent neighborhood retailers with large retail chains

A retailer's role in a supply chain is to:

1 A act as the liaison between manufacturers and suppliers

2 B buy merchandise exclusively from the manufacturers

3 C negotiate with manufacturers to draw contracts for wholesalers

4 D add value to products and services sold to customers

5 E sell goods and services to wholesalers

Which of the following businesses would NOT be considered a retailer?

1 A A hot dog cart at the Highland Games

2 B Delta Airlines

3 C University bookstore

4 D Priceline.com

5 E Procter and Gamble

Fresh n Fragrant is a chain of flower shops offering a variety of flowers and ornamental plants It recently opened a distribution center to supply ornamental plants and cut flowers to all its stores within a 300-mile radius From the given scenario, it can be seen that Fresh n Fragrant is practicing _

1 A vertical integration

2 B channel expansion

3 C horizontal expansion

4 D horizontal integration

5 E channel diversification

_ means that a firm performs more than one set of activities in the channel, as occurs when a retailer engages in wholesaling activities by operating its own distribution centers to supply its

stores

1 A Channel diversification

2 B Horizontal development

3 C Horizontal integration

4 D Vertical expansion

5 E Vertical integration

Which of the following statements about the U.S distribution

system is TRUE?

1 A The U.S retail industry is mostly composed of many small and medium-sized firms

2 B Many U.S retailers are large enough to have their own warehouses

3 C The retail density in the U.S is lower than that found in Europe

4 D A large independent wholesale industry supplies goods to all retailers

5 E The U.S retail industry has a fragmented distribution system

A retailer that is vertically integrated:

1 A concentrates on selling only to businesses

2 B outsources all supply chain activities to independent firms

3 C has limited control on the activities of the supply chain

4 D performs more than one activity in the distribution channel

5 E concentrates only on operating its own retail stores

Retailers function as wholesalers when:

1 A they hold inventory

2 B they perform manufacturing activities

3 C they practice scrambled merchandising

4 D they sell to other businesses

5 E there is an intratype competition

Samson's is a large clothing retailer The store offers over 1,000 brands and 50,000 different products Which of the following value-creating activities can be seen in the given example?

1 A Breaking bulk

2 B Scrambled merchandising

3 C Vertical integration

4 D Offering assortments

5 E Add-on selling

The U.S retail industry:

1 A has the lowest concentration of large firms

2 B has the greatest retail density in the world

3 C mostly has small stores operating independently

4 D depends on a single large wholesale industry

5 E consists of a fragmented distribution system

Why is it imperative that manufacturers like HP and Procter and Gamble understand the operations of retailers?

1 A To sell directly on-line

2 B To encourage retailers to offer and promote their products

3 C To develop strategies for selling without retailers

4 D Retailers can expect fewer buyouts to occur

5 E To have a wide assortment of products for customers to choose from

Retailers provide important functions that increase the value of the products and services they sell to consumers Which of the

following is NOT a value-creating activity performed by a retailer?

1 A Providing an assortment of products

2 B Reducing production costs with innovative designs

3 C Breaking bulk

4 D Holding inventory

5 E Providing an assortment of services

Jenson's is a large retail store in Chicago It offers credit so that consumers can buy a product and pay for it later Which of the following value-creating activities is Jenson's undertaking in the given example?

1 A Exclusive dealing

2 B Breaking bulk

3 C Holding inventory

4 D Offering assortments

5 E Providing services

Dailies is a large retail chain in New Jersey Apart from selling to customers, Dailies supplies bread and vegetables to a large

number of restaurants in and around New Jersey Therefore,

Dailies is engaged in _ when selling to restaurants

1 A wholesaling

2 B retailing

3 C merchandising

4 D breaking bulk

5 E channel expansion

Which of the following value-creating activities has retailers offering products in quantities tailored to customers' consumption patterns?

1 A Providing assortments

2 B Breaking bulk

3 C Add-on selling

4 D Holding inventory

5 E Scrambled merchandising

Florals is a popular retail chain specializing in women's lingerie and perfume It designs the merchandise being sold in the store

Therefore, Florals is practicing _

1 A channel expansion

2 B scrambled merchandising

3 C backward integration

4 D horizontal integration

5 E product diversification

A(n) _ is a set of firms that make and deliver a given set of goods and services to the ultimate consumer

1 A supply chain

2 B buying network

3 C economic network

4 D integrated wholesale network

5 E extended enterprise

66 Free Test Bank for Retailing Management 9th Edition

by Levy Multiple Choice Questions - Page 2

Which of the following is true of the career opportunities offered by the retailing industry?

1 A Retailers employ people with exclusive expertise in supply chain

management

2 B Retail managers are often given considerable responsibility early in their careers

3 C Retailing offers limited opportunities for entrepreneurs

4 D Retail management is not a very lucrative career path

5 E People with a marketing background have limited opportunities in the retail industry

A retailer's primary competitors are other retailers that:

1 A are more vertically integrated

2 B use the same type of store format

3 C have the same target market

4 D sell online

As the owner of Knights, a store specializing in men's suits, Isabella can use a retail strategy statement to identify all of the following EXCEPT:

1 A the advertising campaign developed to sell last season's merchandise

2 B the store's target market

3 C how the store will build a competitive advantage over other similar retailers

4 D what services the store will offer its customers

5 E what types of suits the store will stock

A retail mix is developed to:

1 A promote scrambled merchandising

2 B implement a retail strategy

3 C understand the retail market

4 D implement vertical integration

5 E formulate a retail strategy

Which of the following is NOT an element in the retail mix?

1 A Competitive response

2 B Merchandise pricing

3 C Location

4 D Customer service

5 E Advertising and promotion

A company in the final stage of integrating corporate social

responsibility into its strategies:

1 A only engages in CSR activities that are required of them by law

2 B engages in CSR activities that provide a short-term financial benefit

3 C engages in CSR activities because they believe it is the right thing to do

4 D engages in responsible activities for the well-being of everyone

A retail mix refers to:

1 A a strategy for identifying primary competitors through market research

2 B the idea of selling similar merchandise using different types of retail outlets, such as drug and department stores

3 C the concept of offering merchandise not typically associated with their type

of store

4 D a set of decisions retailers make to satisfy customer needs and influence their purchase decisions

5 E a retailer's decision to undertake wholesaling and manufacturing activities

A company in the first stage of incorporating corporate social

responsibility (CSR) into its strategies:

1 A only engages in CSR activities that are required of it by law

2 B engages in CSR activities that provide a short-term financial benefit

3 C engages in CSR activities because they believe it is the right thing to do

4 D engages in CSR activities for the well-being of everyone

The competition between the same type of retailers is called

_

1 A intertype competition

2 B indirect competition

3 C intratype competition

4 D scrambled merchandising

5 E intrinsic competition

_ form a part of the microenvironment that influences retail management decisions

1 A Competitors

2 B Technologies

3 C Politics

4 D Legal aspects

5 E Ethics

Prime Industries Inc is a large company producing a wide range of chemicals The company recently installed a waste water treatment facility in its premises It believes that releasing water containing chemical waste into the river would harm the entire population of the city Thus, it is in the _ stage of incorporating corporate social responsibility

1 A initial

2 B second

3 C tertiary

4 D final

5 E acquisition

The offering of merchandise not typically associated with the store type is called:

1 A scrambled merchandising

2 B intratype competition

3 C product diversification

4 D channel diversification

5 E vertical differentiation

Daily Needs and Smart Saves are two large retailers in Canada They compete with each other using similar marketing strategies Which form of competition is seen between these two retailers?

1 A Intertype competition

2 B Indirect competition

3 C Intratype competition

4 D Scrambled merchandising

5 E Intrinsic competition

Bright Automotive Inc does not have employees below the age of

16 since the law prohibits it Therefore, Bright Automotive is in the _ stage of incorporating corporate social responsibility

1 A initial

2 B second

3 C tertiary

4 D fourth

5 E acquisition

The intensity of competition is greatest among retailers when:

1 A price dominates the retail mix

2 B their retail offerings are considered to be similar

3 C they resort to scrambled merchandising

4 D they focus on a narrow demographic trend

5 E they offer a limited range of products and services

Retail information and supply chain management systems help retailers to:

1 A gain strategic advantages

2 B monitor the flow of information and merchandise

3 C make sure desired merchandise is available when customers want it

4 D minimize the retailer's inventory investment

5 E all of these

Which of the following is the first step in the retail management decision process?

1 A Developing the retail communication mix

2 B Buying merchandise

3 C Developing a retail marketing strategy

4 D Understanding the world of retailing