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116 Test Bank for Retailing Management Canadian Edition 3rd Edition Levy

Multiple Choice Questions - Page 1

Retailers compete with each other on:

1. A have high margins

2 B spend on visual displays

3 C sell merchandise in a no-frills atmosphere

4 D have low turnover

5 E provide extensive customer service

A fundamental way to describe and distinguish between retailers is their retail mix Which of the following is an element of that retail mix?

1. A The type of merchandise sold

2 B The variety of merchandise sold

3 C The level of service provided to customers

4 D The assortment of merchandise sold

5 E All answers provided are correct

The greater the diversity of retail formats, the greater the:

1. A competition in the industry

2 B level of service provided to customers

3 C maturation in the domestic market

4 D price points

5 E variety within a format

Isaac's Men's Store stocks 322 different styles and colours

of ties This assortment of ties can be referred to as Isaac's:

1. A store's supply standard

2 B complete retail offering

3 C breadth of merchandise

4 D retailer mix

5 E depth of merchandise

Price Choppers, a food store chain, offers no special

promotions and a "no-frills" shopping experience Which pricing strategy does Price Choppers practice?

1. A Bait and switch

2 B Demand based

3 C EDLP

4 D High-low pricing

5 E Weekly advertising

Al is the office manager for a large travel agency He is

responsible for maintaining the office supplies and works within a budget This month, he needs to restock the

agency's #10 envelopes, ball-point pens, coffee, sweetener and plastic spoons Where's the best place for him to shop?

The dominant department stores in Canada are:

1. A Sears and the Bay

2 B The Bay and Loblaws

3 C Sears and Future Shop

4 D Zellers and Sears

5 E The Bay and Wal-Mart

NAICS:

1. A Is a number used to identify and item in a company's inventory

2 B Is a classification scheme used by retailers in Canada to monitor after-tax profits

3 C Is an on-package series of thick and thin lines readable by check-out scanners

4 D Is a classification scheme where every North American business is assigned a 6-digit code

5 E None of these

Which of the following can be purchased at a hypermarket?

1. A Cut flowers and potted plants

2 B Prescription drugs

3 C Photographic film development

4 D Hotdogs and luncheon meat

5 E All answers provided are correct

Because the only merchandise category at the Futon Shop is double-sized futons, the Futon Shop can be said to have no:

Compared to other food retailers, convenience stores

1. A Have higher food prices

2 B Have a wide breadth and depth of selection

3 C Benefit from the high margins of gasoline

4 D Have less than 30% of their store devoted to food

5 E Is experiencing slow growth in Asia

Frank was shopping for electric fuses for his fuse box Flash Hardware sold them for $3.99 for a box of six, but when he went to the same retailer's website, he found the same set for $2.99 Flash Hardware has a problem with:

1. A price consistency across channels

2 B a pricing mistake by the store manager

3 C a communication problem between channels

4 D product consistency

5 E depth of merchandise

A supermarket that uses an everyday low pricing (EDLP) policy:

1. A relies on coupons to get customers to return to their stores

2 B creates low prices through the use of sales promotions

3 C will invest more in weekly newspaper advertising than supermarkets that use a hi-lo pricing strategy

4 D typically has lower prices than supermarkets that use a high-low pricing

strategy

5 E uses a fluctuating pricing strategy on non-food items

To compete against intrusions by other food retailing

formats, conventional supermarkets are:

1. A Targeting health conscious consumers

2 B Offering more private label products

3 C Emphasizing fresh perishables

4 D Providing a better in-store experience

5 E All answers provided are correct

Which of the following statements about warehouse clubs is true?

1. A Warehouse clubs only sell to ultimate consumers

2 B Warehouse clubs have a category specialist format

3 C Warehouse clubs typically have high inventory holding costs

4 D Warehouse clubs have simple exteriors and concrete floors

5 E Warehouse clubs have extensive merchandise depth

An example of brand image would be:

1. A Wal-Mart's wide variety of merchandise

2 B Holt Renfrew's focus on upper-class customers

3 C Talbot's red doors saying "Always classic, never closed"

4 D Sears men's casual apparel department

5 E Old Navy's current fashion merchandise

Which of the following describe a trend in retailing?

1. A Changing consumer preferences

2 B Increasing industry concentration

3 C Globalization

4 D The use of multiple channels to interact with customers

5 E All answers provided are correct

The purchase of Mark's Work Wearhouse in 2004 by

Canadian Tire has been a positive move for Canadian Tire because it widened the:

The spawning of new categories and retailers from

supercenters to the Internet best demonstrates the:

1. A growing diversity of retail formats

2 B necessity to focus on competition

3 C necessity to go global with domestic retailers

4 D need for training and development programs

5 E tremendous need for better customer services

Variety is often referred to as the:

1. A store's supply standard

2 B complete retail offering

2 B store counted item (SCI)

3 C stored and keyed unit (SKU)

4 D stock keeping unit (SKU)

5 E economic unit

Pinch-A-Penny sells a variety of pool maintenance supplies including filters, chemicals, lights, skimmers, and pool toys Pinch-A-Penny can be said to have:

2 B are avid supporters of the marketing concept

3 C invest time and money in setting up marketing relationships with their

customers

4 D offer "no frills" shopping experiences

5 E use very few sales promotions

Marks Work Wearhouse carries sizes for small, average, and big men, but all sizes are not available in all their stores What should Marks do to communicate this message to their customers?

1. A They should advertise big men's merchandise on all of their newspaper

supplements and commercials

2 B They should train their sales associates to mention this when closing sales with each customer

3 C A database should be developed of those who purchase merchandise for big men and then Marks should market specifically to those shoppers

4 D Marks should actively advertise these assortments to competitors

5 E Marks should advertise this by featuring big men on their Holiday Catalogue

The Home Depot offers customers a huge selection of home improvement merchandise As a result inventory

investment:

1. A increases because of the increase in demand in the home improvement

industry

2 B increases because they have to carry back up stock for each SKU

3 C increases because of the value of the assortment

4 D decreases because of the increase of the customer base

5 E decreases because of the introduction of back up stock

Which of the following is a self-service food store offering groceries, meat and produce with limited sales of non-food items?

1. A Big box food retailer

My Favourite Quilt Shop carries quilting thread of every

brand, colour and strength in cotton and poly-cotton blends With reference to quilting threads, My Favourite Quilt Shop has:

95 Free Test Bank for Retailing Management

Canadian Edition 3rd Edition Levy Multiple Choice Questions - Page 2

Category specialists in direct competition with each other typically compete on the basis of:

1. A advertising

2 B in-store promotions

3 C distribution strategies

4 D product variety and assortment

5 E cost of goods/retail price

Specialty stores that concentrate on health and personal grooming merchandise are:

Which of the following offers drive-up windows as a

response to competition from discounters and grocery

1. A the costs of paper has been increasing

2 B it is increasingly hard to capture consumers' attention

3 C.it is hard for smaller firms to compete with large well-established retailers who use a multichannel strategy

4 D.the length of time required to develop new catalogues makes it difficult to respond quickly to new trends

5 E All answers provided are correct

Which of the following statements about discount stores is true?

1. A They do not carry private-label merchandise

2 B They have greater depth of merchandise than department stores

3 C They typically carry more brands and sizes in each category than department stores

4 D They tend to offer a broad variety of merchandise

5 E All answers provided are true

Rona and Home Depot are both category specialists for the home improvement industry This means the stores:

1. A offer their customers narrow breadth and depth

2 B use quick-response inventory management systems

3 C have excellent after-the-sale service

4 D appeal to the mature consumers

5 E offer a narrow but deep assortment of merchandise

The two types of off-price retailers are:

1. A outlet and closeout stores

2 B value retailers and closeout stores

3 C closeout and value stores

4 D warehouse clubs and close-out stores

5 E outlet stores and warehouse clubs

Last March Julie went shopping at a _ and found leather coats for $45, name-brand tubes of lipstick for $1, and 10 cans of cat food for $2.00 When she returned this week, there was no lipstick or cat food, but she did find a 10-gallon aquarium for $8.00 and a plastic lawn chairs for $12

1. A have little customer service

2 B are limited to clothing, office supply, pet supplies, and toy retailing

3 C rely on warranty sales to promote loyalty

4 D offer a narrow variety but deep assortment of merchandise

5 E compete directly with off-price retailers

Off-price retailers:

1. A offer a consistent assortment of soft goods at low prices

2 B give cash refunds

3 C offer gift-wrapping services

4 D sell brand-name and even designer-label merchandise at reduced prices

5 E require suppliers to give them a variety of allowances and discounts

Manufacturers view their outlet stores as advantageous over selling to other off-price retailers because:

1. A it allows them some control over where their branded merchandise is sold

2 B they do not have to work with buyers of other companies

3 C they are interested in by-passing traditional retailers and wholesalers and sell direct to the consumer

4 D they do not have to offer rock-bottom prices

5 E All answers provided are correct

A retailer that carries a broad variety and deep assortment, offers customer services, and are organized into separate departments for displaying merchandise is called a:

1. A are a modern form of the mom-and-pop grocery store

2 B are about the same size as the traditional supermarket

3 C earn most of their profit on sales of milk, eggs, and bread

4 D are in the introductory stage of the retail life cycle

5 E have great merchandise depth

Which of the following is an example of a department store?

What is one way a convenience store can develop a

sustainable advantage against competition?

1. A Close less convenient locations

2 B Extend hours of operation

3 C Nothing: convenience stores are becoming extinct

4 D Open more stores

5 E Sell prepared meals

Home improvement centers:

1. A advertise like discounters using EDLP strategy

2 B use quick-response inventory management systems

3 C are a type of specialty store

4 D offer equipment and material for the do-it-yourselfer

5 E All answers provided are correct

Zara, a specialty store, produces how much of its own

1. A can destroy the profit potential for a category of merchandise for other retailers

2 B are located at stand-alone sites

3 C have a broad merchandise mix and shallow assortment

4 D are often located in dying shopping malls

5 E carry mainly technologically obsolete merchandise

To respond to a competitive environment, discount retailers are fighting back by:

1. A developing more private label merchandise

2 B focusing on promotional pricing rather than the traditional EDLP strategy

3 C increasing assortments

4 D offering better customer service on the floor

5 E reducing prices below wholesale

How did Target, in the U.S., become a major competitor in the discount retailer area?

1. A They developed the EDLP strategy

2 B They utilize promotions unlike Wal-Mart

3 C.Target researched and reacted to consumer trends by offering stylish

merchandise, at low prices, that is unavailable elsewhere

4 D Target targets the stay-at-home-mom segment of the population

5 E All answers provided are correct

All of the following are commonly leased departments in department stores except:

1. A corporate development racing to catch up to store level

2 B downsizing of middle management

3 C expiration dates on perishables

4 D increasing level of competition from other types of retailers

5 E price wars

Bob is attending his company's annual picnic On his way,

he wants to pick up ice, chips, colas, and beer The best place for him to shop would be:

5 E Women's apparel

Department stores sales have stagnated in recent years, but are fighting back to ensure survival by:

1. A lowering prices

2 B investing in private labels

3 C revamping departments to look more progressive

4 D working closely with vendors ensuring better in-stock positions

5 E All answers provided are correct

As a result of increased competition, the category specialist sector is:

1. A closing stores

2 B differentiating on customer service

3 C opening stores on an as-per-needed basis

4 D re-evaluating management selection

5 E requiring suppliers to give them allowances until the economy improves

H&M uses the philosophy of "disposable chic" This means:

1. A Consumers can dispose of their income at H&M

2 B The product line at H&M is recyclable

3 C Its merchandise is so inexpensive it doesn't matter if it goes out of style

4 D It has a merchandise agreement with Gillette disposable razors

5 E Its merchandise is considered "chic" in Sweden

Kelly is a primary school teacher She needed some small gifts for her students She was pleased when she went in A Buck or Two and found she could buy coloring books,

plastic scissors, pencil bags, puzzles, and games all priced

at $1.00 each A Buck or Two is an example of a:

Zellers and Walmart are examples of:

95 Free Test Bank for Retailing Management

Canadian Edition 3rd Edition Levy Multiple Choice Questions - Page 3

Which of the following is a benefit of store channel

shopping?

1. A The touch and feel of products

2 B Personal service

3 C The ability to make cash payments

4 D The ability to browse

5 E All answers provided are correct

Which of the following best describes the target market for catalogue and direct-mail retailers?

1. A people who live in rural communities

2 B members of a pyramid network

3 C people who do not enjoy in-store shopping

4 D people who enjoy the convenience of shopping by catalogue

5 E people who mostly shop department stores

Where are most direct sales made?

1. A Via a computer connection

2 B At street festivals and craft shows

3 C Over the phone

4 D On the job site

5 E In the home