a plan to reduce retail costs Suggestion selling, point-of-purchase displays, and attractive store layouts are used by retailers to _____.. customer service philosophyA retailer does gen
Trang 171 Test Bank for Retail Management A Strategic
Approach 12th Edition
by Berman Mutiple Choice Questions - Page 1
A retail strategy can be best defined as _
1 a the selection and appeal to a specific retail target market
2 b short-run activities conducted by a retailer to meet or exceed its retail objectives
3 c the overall plan guiding a retail firm
4 d a plan to reduce retail costs
Suggestion selling, point-of-purchase displays, and attractive store layouts are used by retailers to _
1 a reduce selling costs
2 b increase customer service
3 c increase impulse sales
4 d reduce channel conflict
A functional approach to the study of retailing stresses _
1 a retail planning
2 b the activities that retailers perform
3 c adaptation of strategy to match the retail environment
4 d opportunities and constraints in decision making
A strategic approach to the study of retailing stresses _
1 a lowering retail costs
2 b the types of retailing and their development
3 c planning for and adapting to a complex, changing environment
4 d merger, acquisition, and downsizing opportunities
The total retail experience is best defined as _
1 a a retail operating philosophy that stresses long-term relationships between
a retailer and its customers
Trang 22 b value-generating elements in the retail transaction
3 c all the elements in a retail offering that encourage or inhibit consumers during their contact with a retailer
4 d those retail strategies that contribute to total satisfaction among all retail stakeholders
According to the Department of Commerce, annual U.S retail store sales are nearly _
1 a $500 billion
2 b $1 trillion
3 c $3 trillion
4 d $5 trillion
A retailer’s selling to consumers via store, catalog, and the Web illustrates _
1 a selective distribution
2 b impulse purchasing
3 c intensive distribution
4 d multi-channel retailing
An approach to the study of retailing that stresses activities such as buying, pricing, and personnel practices is a _ approach
1 a strategic
2 b functional
3 c institutional
4 d retail audit
The sorting process refers to _
1 a physical distribution assortment by perishability
2 b a retailer’s pricing goods by quality and size
3 c government grading standards for produce
4 d a retailer’s collecting an assortment of goods and services from many vendors
On average, what percent of every sales dollar goes to department store retailers as compensation for the activities they perform?
Trang 31 a 25
2 b 33
3 c 45
4 d 50
While some manufacturers specialize by producing one product, consumers generally favor retailers with extensive selections from many manufacturers These divergent viewpoints can be reconciled through _
1 a the sorting process
2 b selective distribution
3 c intensive distribution
4 d exclusive distribution
All of the businesses and people involved in the physical movement and transfer of ownership of goods and services from producer to consumer constitute _
1 a a channel of distribution
2 b wholesaling
3 c retail management
4 d the sorting process
How many million people are employed by traditional retailers in the United States?
1 a 7
2 b 15
3 c 25
4 d 30
All of the elements in a retail offering that encourage or inhibit
consumers during their contact with a given retailer make up the _
1 a total retail experience
2 b retailing concept
3 c marketing concept applied to retailing
Trang 44 d customer service philosophy
A retailer does generally not stock a broad selection of brands in which form of distribution?
1 a exclusive distribution
2 b intensive distribution
3 c selective distribution
4 d operational distribution
Which of the following is not an element in the retailing concept?
1 a customer orientation
2 b high levels of customer service
3 c coordinated effort
4 d value driven
Channel relations tend to be most volatile in which form of
distribution?
1 a exclusive distribution
2 b intensive distribution
3 c selective distribution
4 d vertical integration
An electronics retailer accomplishes a consumer’s one-stop needs through _
1 a the sorting process
2 b a deep channel of distribution
3 c a wide channel of distribution
4 d exclusive distribution
In 2010, the ten largest U.S retailers earned average after-tax profits amounting to about _ percent of sales
1 a 1.1
2 b 2.5
3 c 3.5
4 d 5.7
Trang 5The identifiable, but sometimes intangible, activities undertaken by
a retailer in conjunction with the basic goods and services it sells comprise the retailer’s _
1 a level of commitment to the retail concept
2 b peripheral services
3 c customer satisfaction level
4 d customer service
A manufacturer seeking to maximize its sales should utilize _ distribution
1 a dual
2 b intensive
3 c selective
4 d exclusive
Which of the following illustrates channel conflict between a
manufacturer and its retailer customers?
1 a a discounter’s selling a manufacturer’s product below the price levels at full-service retailers
2 b a cooperative advertising program in which retailers are encouraged to use selected advertising materials
3 c a manufacturer assisting retailers with inventory financing for its products
4 d a manufacturer developing a toll-free hot line for customer support
In 2010, the three largest retailing companies (based on annual sales) in order of size (from the largest firm) were _
1 a Sears, Kroger, and Wal-Mart
2 b Sears, Wal-Mart, and Costco
3 c Wal-Mart, Home Depot, and Kroger
4 d Wal-Mart, Kroger, and Target
The first stage in development of a retail strategy should be to
determine the retailer’s _
1 a most appropriate target market
Trang 62 b short-run objectives
3 c long-run objectives
4 d type of business and orientation of the firm
In exclusive distribution, suppliers _
1 a enter into agreements with one or a few retailers that designate the latter as the only companies in specified geographic areas to carry certain brands and/or product lines
2 b sell to as many retailers as possible
3 c sell to a moderate number of retailers
4 d utilize multiple channels of distribution to reduce channel conflict
The retailing concept is comprised of _
1 a price orientation, social responsibility, and competitive defensibility
2 b niche strategy, cost leadership, and market segmentation
3 c customer orientation, coordinated effort, value driven, and goal orientation
4 d short-run objectives, long-term strategy, implementable actions, and
channel control
Channel relations are generally smoothest in which form of
distribution?
1 a selective distribution
2 b intensive distribution
3 c exclusive distribution
4 d dual distribution
In relationship retailing, a retailer _
1 a seeks to maximize a customer’s short-term satisfaction
2 b prefers to attract new customers over retaining existing customers
3 c seeks to attract larger customers over smaller accounts
4 d plans to establish and maintain long-term bonds with its customers
Which of these is not a characteristic that distinguishes retailing from other types of business?
1 a Store location is more important for retailers than for wholesalers
Trang 72 b The average size of a sales transaction for retailers is less than for
manufacturers
3 c Retail sales are more cyclical than organizational sales
4 d While final consumers make many impulse purchases, organizational consumers are more systematic in their purchasing activity
Which one of the following is not a crucial element in Target’s
overall retail strategy?
1 a growth-oriented objectives
2 b a focus on its discount store niche
3 c sale of goods at the lowest competitive price
4 d strong customer service for its retail category
Which of the following distribution functions are generally not
provided by retailers for their manufacturer/wholesaler suppliers?
1 a contact with the final customer
2 b inventory storage prior to sale
3 c pre-paying for merchandise in advance of its being sold to final consumers
4 d delivery and installation of goods to final consumers
Which statement concerning customer service is correct?
1 a Customer service only concerns a retailer’s intangible activities
2 b Different people almost always judge a retailer’s customer service in a similar manner
3 c People’s assessment of customer service depends on perceptions—not necessarily reality
4 d Customer service only concerns a retailer’s tangible activities
Which statement concerning retailing is correct?
1 a Retailing activities cannot be performed by wholesalers
2 b It is the last stage in the distribution process
3 c All retail activities are store-based
4 d A lawyer purchasing stationery for use in his/her office is an example of retailing
A manufacturer’s long-term sales potential is most limited in _
Trang 81 a selective distribution
2 b cooperative wholesaling
3 c intensive distribution
4 d exclusive distribution
Which form of distribution balances channel cooperation with an increased opportunity for product sales?
1 a exclusive distribution
2 b selective distribution
3 c intensive distribution
4 d dual distribution
71 Free Test Bank for Retail Management A Strategic Approach 12th Edition by Berman Mutiple Choice
Questions - Page 2
Retail price competition is generally highest in _ distribution
1 a dual
2 b exclusive
3 c intensive
4 d selective
Which is a major limitation of exclusive distribution?
1 a poor relations among channel members
2 b limited sales potential
3 c high price competition
4 d low levels of customer service
Payment for shelf space by manufacturers to supermarkets
illustrates _
1 a the role of manufacturers’ representatives
2 b channel power by a retailer
3 c channel cooperation by retailers
4 d competition in the marketplace
Trang 9A manufacturer seeking maximum retailer cooperation should utilize which form of distribution?
1 a exclusive distribution
2 b intensive distribution
3 c selective distribution
4 d dual distribution
An example of a retailer’s regularly reviewing operations is the
_
1 a appeal to a prime consumer market
2 b use of a one-price policy
3 c development of realistic sales and profit goals
4 d ongoing analysis of sales and costs by product category
An example of the contrasting viewpoints of retailers and
manufacturers is a manufacturer _
1 a sponsoring a cooperative advertising program
2 b attempting to increase national brand display space
3 c sponsoring training programs for retail sales personnel
4 d sponsoring point-of-sale materials
The greatest advantage to a manufacturer’s use of exclusive
distribution is _
1 a retailer concentration on key items
2 b smooth channel relations
3 c a high level of retail price competition
4 d maximization of long-run sales potential
A college bookstore that purchases goods from over 200 vendors demonstrates _
1 a economies of scale
2 b a channel of distribution
3 c the sorting process
4 d vertical integration
Trang 10The arrangement of goods within a supermarket or department store is systematically studied to maximize _
1 a manufacturer cooperation
2 b impulse sales
3 c payments by manufacturers
4 d self-service merchandising
Which statement concerning strategic planning is correct?
1 a Strategic planning should be conducted once a year
2 b Strategic plans should emphasize pricing
3 c Strategic plans should be adhered to despite their success/failure
4 d Strategic planning is a continuous process throughout the year
An example of the contrasting viewpoints of retailers and
manufacturers is a manufacturer _
1 a sponsoring a cooperative advertising program
2 b attempting to increase national brand display space
3 c sponsoring training programs for retail sales personnel
4 d sponsoring point-of-sale materials
The success of a manufacturer and its retailer customers is most directly interconnected in which form of distribution?
1 a exclusive distribution
2 b intensive distribution
3 c selective distribution
4 d dual distribution
A characteristic of a retail strategy is its _
1 a focus on past operations and success
2 b attention to short-run success
3 c attention to personnel availability and training
4 d systematic assessment of the environment to ascertain opportunities and constraints
Which of the following illustrates a retail transaction?
Trang 111 a an auto manufacturer purchasing brochures to be distributed by its dealers
2 b a supermarket purchasing a freezer case for meat
3 c the U.S government purchasing military aircraft
4 d a consumer buying coffee in a vending machine
Retailer power in a distribution channel can be increased through _
1 a decentralized purchasing
2 b the purchase of goods from multiple vendors
3 c franchising
4 d the development of large chains
One-stop shopping by consumers is enhanced by _
1 a the sorting process
2 b store-based inventory systems
3 c regionalization of department stores
4 d consumer credit
A retailer views the sales of merchandise through store, catalog, and Web-based operations as complementary to one another This approach illustrates _
1 a channel cooperation
2 b multi-channel retailing
3 c intensive distribution
4 d selective distribution
Channel cooperation, communication, and control is greatest when _
1 a selective distribution is used
2 b intensive distribution is used
3 c manufacturers operate their own retailing facilities
4 d exclusive distribution is used
A unique characteristic of retailing is _
1 a the high effect of the business cycle on sales
Trang 122 b high foreign competition
3 c low average sales
4 d saturation of retail facilities
The sorting process implies that a retailer typically purchases
_
1 a from domestic suppliers
2 b directly from a manufacturer
3 c from multiple manufacturers
4 d from a single manufacturer
Strategic planning in retailing _
1 a can be practiced by both small and large retailers
2 b requires computer-based marketing research and accounting systems to be successfully implemented
3 c should focus on short-run profits
4 d requires a high risk-taking philosophy to succeed
Neither channel cooperation nor sales potential is maximized in _ distribution
1 a vertical
2 b intensive
3 c exclusive
4 d selective
Manufacturers can generate increased power in a channel of
distribution through _
1 a developing brand loyalty through extensive advertising
2 b selling exclusively to major national retail chains
3 c allowing retailers to set final retail selling prices
4 d allocating promotional allowances to retailers based upon their overall sales volume
Because impulse sales are so important to retailers, there is a need
to _