100 test bank for retail management a strategic approach 10th edition by berman đề trắc nghiệm marketing

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100 Test Bank for Retail Management A Strategic Approach 10th Edition by Berman

True - False Questions

The underlying principle of a strategic approach to the study

of retailing is that a retail firm needs to plan and revise its plans continually in order to adapt to a changing

Those business activities that involve the sale of goods and services to consumers for personal, family, or household use make up a definition of retailing

The final stage in a channel of distribution is retailing

The total retail experience deals with a customer’s

involvement with a retailer from pre-sale discussions to post-sale service

one-1 True

2 False

The principles of strategic planning in retailing are equally applicable to small and large retailers

Frequently, retailers and their suppliers have divergent

viewpoints that need to be reconciled

1 True

2 False

While they do not directly involve a store facility, Web

transactions, mail-order sales, direct selling, and vending machine sales are components of retailing

1 True

2 False

The sorting process allows retailers to purchase goods from

a variety of manufacturers and to sell them in small

quantities to consumers

1 True

2 False

Channel conflict can be minimized through intensive

distribution and/or horizontal integration

Relationship retailing focuses on keeping existing

customers, as well as attracting new ones

Only large firms can successfully adjust their retail

strategies in response to consumer preferences

1 True

2 False

Mutiple Choice Questions - Page 1

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.

2 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.

According to the Department of Commerce, annual U.S

retail store sales exceed _

1 a.$200 billion

2 b.$1 trillion

3 c.$2 trillion

4 d.$4 trillion

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

In 2004, 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.3.3

4 d.5.7

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

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.the activities that retailers perform

3 c.adaptation of strategy to match the retail environment

4 d.opportunities and constraints in decision making

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

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 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

A retailer’s selling to consumers via store, catalog, and the Web illustrates _

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

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 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

Which of the following illustrates a retail transaction?

1 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

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.

The 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

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

4 d.customer service philosophy

Which of the following is not an element in the retailing

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

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

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

2 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

A manufacturer’s long-term sales potential is most limited in _

1 a.selective distribution

2 b.cooperative wholesaling

3 c.intensive distribution

4 d.exclusive distribution

The first stage in development of a retail strategy should be

to determine the retailer’s _

1 a.most appropriate target market

2 b.short-run objectives

3 c.long-run objectives

4 d.type of business and orientation of the firm

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

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

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

Channel relations tend to be most volatile in which form of distribution?

On average, what percent of every sales dollar goes to

department store retailers as compensation for the activities they perform?

1 a.15

2 b.22

3 c.30

4 d.50

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 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 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

In 2004, the three largest retailing companies (based on

annual sales) in order of size (from the largest firm) were _

1 a.Sears, Kmart, and Federated Department Stores

2 b.Sears, Wal-Mart, and J.C Penney

3 c.Wal-Mart, Sears Roebuck, and Kroger

4 d.Wal-Mart, Home Depot, and Kroger

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 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

Which statement concerning the scope of retailing is

correct?

1 a.Retailing is limited to transactions involving tangible goods.

2 b.Purchases of goods made by retail organizations for further resale are part of retailing.

3 c.Retailing is limited to store-based transactions.

4 d.Wholesalers cannot conduct retail transactions.

70 Free Test Bank for Retail Management A Strategic Approach 10th Edition by Berman Mutiple Choice

Questions - Page 2

The arrangement of goods within a supermarket or

department store is systematically studied to maximize

2 b.a channel of distribution

3 c.the sorting process

4 d.vertical integration

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

The use of independent channel members in a channel of distribution allows manufacturers to _

1 a.improve channel communication and control

2 b.increase the average order size to retailers

3 c.receive payment based on when goods are shipped to retailers, not when goods are sold to final consumers

4 d.maximize profitability through vertical integration

Retail price competition is generally highest in _

6 Q#SRetail price competition is generally highest in _ 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

The potential for channel conflict (due to the high power of a retailer relative to a manufacturer) is greatest in which form

If retailers did not perform the sorting process, _

1 a.final consumers would have to visit multiple manufacturers to purchase their needs

2 b.final consumers would be more powerful in the channel of distribution

3 c.distribution channels would be more likely to be vertically integrated

4 d.manufacturers would have improved cash flow

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

Which is not a strategy for a retailer to increase its average sale?

1 a.placing impulse goods in high-traffic locations

2 b.opening additional hours

3 c.increasing impulse sales

4 d.suggestion selling

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

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

Which retail philosophy directly focuses on maintaining long-term bonds with past customers?

1 a.relationship retailing

2 b.coordinated effort

3 c.employee empowerment

4 d.a strategic approach to retailing

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 computer dealer determines customer satisfaction of recent computer buyers on the basis of questionnaires mailed to recent customers These questionnaires cover all aspects of the transaction from the first encounter with a salesperson to initial quality of the computer to satisfaction with any servicing the computer might require The survey involves _

1 a.coordinated effort

2 b.the total retail experience

3 c.long-run planning

4 d.relationship retailing

The sorting process enables manufacturers to _

1 a.increase their power in the channel of distribution

2 b.specialize in one item or product line

3 c.fulfill government grading requirements

4 d.limit product distribution to the most profitable geographic areas

The total retail experience, customer service, and

relationship retailing directly focus on which aspect of the retailing concept?

1 a.long-run planning

2 b.customer orientation

3 c.goal orientation

4 d.coordinated effort

Planning and adapting to a complex, changing environment

is the major focus of a(n) _ approach to the study of retailing

1 a.historical

2 b.strategic

3 c.institutional

4 d.functional

A unique characteristic of retailing is _

1 a.the high effect of the business cycle on sales

2 b.high foreign competition

3 c.low average sales

4 d.saturation of retail facilities

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

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.