Download business management and retail and more Exercises Business Economics in PDF only on Docsity!
- If you're a manufacturer, and you want to showcase your product in a store that has a narrow but deep selection of merchandise and where sales associates can assist customers with their selections, you'd likely choose Select one: a. a warehouse club. b. a specialty store. c. a department store. d. an extreme value retail
- Mira purchased some eyeliner from an Internet-based beauty supply house, and now she often receives online recommendations for other products from the same cosmetics line. These recommendations were probably the result of Select one: a. manufacturer clearances and overruns. b. the purchases she had made c. products she may have returned to the company. d. items the retailer no longer carries. e. purchases other customers had made that day.
- Retailers focusing on increasing sales to their best customers are attempting to Select one: a. compete with off-price retailers. b. slay the category killers. c. combat the inroads made by big-box specialty retailers. d. drive their supply chain. e. increase their share of wallet.
- Annabeth is looking for a Michael Kors chronograph watch and assumes she can view and try them on at Macy's. She makes a special trip to the store to look at the watches and selects the style she likes best. Which aspect of choosing a retail partner allowed Annabeth to confidently shop for this item at a particular store? Select one:
a. distribution intensity b. customer expectations c. vertical integration of channel d. channel structure e. channel characteristics
- Many retail golf stores have driving ranges, some with backdrops showing famous golf courses. These driving ranges allow Select one: a. retailers to avoid competition from knock-off products. b. retailers to improve the shopping experience through an improved product line assortment. c. customers to increase their share of wallet spending. d. customers to try before they buy. e. wholesalers to evaluate promotional discounts.
e. Large stocks of popular national brands 10.One advantage of a retail store that is NOT shared with an Internet channel is Select one: a. price matching competitors. b. accepting cash payments. c. collecting information about how consumers shop. d. offering a greater selection of products. e. providing meaningful product information. 11.Retailers use to get customers into their stores. Select one: a. in-store promotions b. off-price wholesaling c. specialty product displays d. supply chain relationships e. mass media advertising
12.Of the following retailers, the best example of a category killer is Select one: a. Dollar General. b. Kohl's. c. Staples. d. Target. e. Costco.
- F ull-line discount, category specialist, and specialty stores are all types of retailers. Select one: a. price sensitive b. special appeal c. general merchandise d. limited demand e. food 14.Retailing is the primary activity in all of the following situations EXCEPT Select one: a. buying and eating a fast-food meal. b. upgrading an airline ticket at the airport. c. purchasing one case of paper for the office at Office Max. d. transporting pallets of Daisy brand dairy products. e. visiting a tile store that sells at wholesale prices. 15.compared to conventional supermarkets, warehouse clubs have Select one: a. a broader assortment of food items. b. lower annual fees. c. a lower level of service.
- can purchase merchandise at one-fifth to one-fourth of the original wholesale prices because they do not ask the suppliers for advertising allowances or markdown adjustments. Select one: a. Specialty stores b. Category specialists c. Drugstores d. Department stores e. Off-price retailers 18.Retailers' coupons, rebates, and online discounts are types of Select one: a. in-store promotions. b. pricing promotions. c. specialty product displays. d. mass media advertising. e. off-price wholesaling. 19.ordan directs her salespeople to increase their share of wallet. Jordan is directing her salespeople to Select one: a. sell more store brands and fewer private-label products. b. expand retailing elasticity. c. focus on male consumers and not female consumers. d. focus on increasing sales to their best customers. e. become multichannel salespeople. 20.Heartland Plantation produces organic food products like stone-ground grits and wild rice. The company has limited production capacity and wants to carefully control where its products are sold. Heartland will likely choose distribution intensity. Select one: a. variable
b. intensive c. luxury d. exclusive e. monopolistic 21.Traditionally, retailers treated all their customers , but today, successful retailers . Select one: a. identically; provide more value to their best customers b. based on demographics; treat customers based on share of wallet c. based on share of wallet; treat all customers identically d. based on demographics; provide more value to mobile commerce customers e. identically; base customer attention on demographics
d. intensive, exclusive, and selective. e. global, national, and local.
- In multichannel retailing, what visible element must often be adjusted because of competition faced in different channels? Select one: a. distribution b. return policies c. pricing d. place e. supply chain
- distribution intensity helps a seller to maintain a particular image and control the flow of merchandise into an area. Select one: a. Intensive b. Selective c. Collective d. Endogenous e. Variable
- are combating competitive pressures by increasing the amount of exclusive and private label merchandise they sell and expanding their online presence. Select one: a. Full-line discount stores b. Department stores c. Extreme value stores d. Off-price retailers e. Convenience stores 29.Unusual and exciting displays like Bass Pro Shops' climbing wall and stocked aquarium are examples of Select one: a. co-op advertising. b. mobile marketing. c. mass media gimmicks. d. promotional discounts. e. in-store promotions. 30.It is often difficult for retailers to distinguish themselves from their competitors through the merchandise they carry because Select one: a. consumers no longer recognize brand equity. b. there is not enough merchandise to go around.
32.When a manufacturer chooses one or more retailing partners, the overriding consideration must be Select one: a. the greatest possible customer convenience and satisfaction. b. the satisfaction of the retailing partners. c. the overall cost to the manufacturer. d. whether customers can participate in mobile commerce. e. the retailers' customary distribution intensity. 33.Benefits of the traditional retail store as a channel includes the ability to Select one: a. efficiently collect information about how consumers shop for a particular product. b. offer a greater selection of products. c. quickly compare prices across multiple channels. d. provide personalized and meaningful product information. e. offer an expanded market presence for all consumers. 34.Kohl's, JCPenney, and Bloomingdales are examples of Select one: a. off-price retailers. b. extreme value stores. c. category specialist stores. d. department stores. e. discount stores. 35.Which of the following retail stores would emphasize personal selling the most as part of the firm's promotional efforts? Select one: a. liquor store b. convenience store c. jewelry store d. second-hand clothing store
e. bakery 36.Retailers in expensive resort areas often find it difficult to hire quality salespeople. In a situation like this, retailers should consider augmenting or even replacing the sales and customer service functions with Select one: a. expanded hours of operation. b. special attention to product placement in their stores. c. variable pricing strategies. d. in-store kiosks or self-checkout lanes. e. continuous use of promotions.
d. store brand e. exclusive co-brand 41.For brick-and-mortar retailers, when making decisions regarding place, a key ingredient to success is Select one: a. private-label merchandise. b. customer relationship management. c. product placement promotion. I d. off-price placement. e. convenient locations.
42.Where does retailing fall in the supply chain? Select one: a. the end b. the center c. second d. no where e. first 43.Considering what you know about their target markets and merchandise, which of the following retailers is LEAST likely to have an online presence? Select one: a. category specialists b. off-price retailers c. full-line discount stores d. department stores e. convenience stores 44.Carol's Studio, located in a shopping mall, offers Zumba dance classes for all ages. Carol's Studio is known as aNo Select one: a. category specialist. b. small box specialist. c. service retailer. d. outlet studio. e. specialty store. 45.Amber has developed a line of organic lotions and handmade soaps with unique, herb- based scents and a touch of bee balm. She plans to sell these products to the wealthy residents of a nearby resort town. Which level of distribution intensity is probably best for this product? Select one: a. exclusive b. intensive
47.Today, retailers like Walmart, Home Depot, and Kroger dictate to their suppliers all of the following EXCEPT Select one: a. what should be made. b. which competitors they should collaborate with. c. when products should be delivered. d. what products should cost. e. how products should be configured. 48.Which of the following is NOT one of the typical outlets used by retailers? Select one: a. the Internet b. restaurants and hotels c. catalogs d. business-to-business requests for proposals (RFPs) e. brick-and-mortar stores 49.For retailers, promotion refers to Select one: a. both their in-store environment and their media communications. b. supply chain communication. c. the seasonal discounts offered to move end-of-season items. d. the relationship between price and product. e. the image a store attempts to maintain through its pricing strategy. 50.John used to work for a large, well-known retailer. He left that company to work for a much smaller company, and in doing so, he discovered that the channel functions were handled very differently in the smaller firm. Looking back at his experience, he noticed that larger firms Select one: a. are generally less efficient. b. use more independent salespeople. c. perform many channel functions themselves.
d. have less control in the channel. e. spend more money wastefully. 51.Andy purchased a number of books from Amazon.com, and he learned to trust the recommendations made to him. More than once he was pleasantly surprised at the books and authors he discovered this way. In this case, Amazon.com was creating value for Andy through Select one: a. expanded market presence. b. repeat business. c. rapid delivery. d. personalized offerings. e. interactive offerings.
