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1 | |
All activities involved in selling, renting, and providing goods and services to ultimate consumers for personal, family, or household use are called: |
| | A) | manufacturing. |
| | B) | wholesaling. |
| | C) | retailing. |
| | D) | facilitating. |
| | E) | logistics. |
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2 | |
Four utilities are offered to consumers through retailing. They are: |
| | A) | convenience, performance, possession, and form. |
| | B) | time, place, possession, and form. |
| | C) | product, price, place, and promotion. |
| | D) | form, possession, time, and performance e. |
| | E) | convenience, consistency, competition, and choice. |
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3 | |
The three major retail categories in Canada are: |
| | A) | automotive, food stores, and clothing. |
| | B) | floral, food stores, and furniture. |
| | C) | automotive, food stores, and furniture. |
| | D) | jewelry, furniture, and clothing. |
| | E) | appliance, food stores, and furniture |
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4 | |
Independent retailers, corporate chains, and contractual systems are all examples of retail outlets classified by: |
| | A) | level of service. |
| | B) | form of ownership. |
| | C) | merchandise line. |
| | D) | method of operation. |
| | E) | revenue generated. |
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5 | |
Multiple outlets under common ownership are what form of ownership? |
| | A) | corporate chain. |
| | B) | consumer cooperative. |
| | C) | contractual system. |
| | D) | independent retailer. |
| | E) | administered system. |
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6 | |
Contractual systems involve independently owned stores that band together to act: |
| | A) | belligerently. |
| | B) | imprudently. |
| | C) | discreetly. |
| | D) | like nonprofits. |
| | E) | like a chain. |
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7 | |
At which level of service would the consumer perform the greatest number of functions? |
| | A) | Exclusive service |
| | B) | Minimal service |
| | C) | Self-service |
| | D) | Limited service |
| | E) | Full service |
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8 | |
What level of service do department stores typically provide? |
| | A) | Exclusive service |
| | B) | Minimal service |
| | C) | Self-service |
| | D) | Limited service |
| | E) | Full service |
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9 | |
A store like Toys R Us is considered what type of retail structure? |
| | A) | Scrambled merchandiser |
| | B) | Hypermarket |
| | C) | Category killer |
| | D) | Super centre |
| | E) | Non-store retailer |
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10 | |
The variety of different items a store carries is referred to as: |
| | A) | retailing mix. |
| | B) | depth of line. |
| | C) | breadth of line. |
| | D) | level of service. |
| | E) | method of operation. |
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11 | |
includes direct mail, telemarketing, and in-home shopping. |
| | A) | Intertype competition |
| | B) | Dual channel marketing |
| | C) | Scrambled merchandising |
| | D) | Multi-service merchandising |
| | E) | Non-store retailing |
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12 | |
A matrix that positions retail outlets on two dimensions: breadth of product line and value added is referred to as a: |
| | A) | BCG growth share matrix. |
| | B) | payoff table. |
| | C) | market-product grid. |
| | D) | retail positioning matrix. |
| | E) | product life cycle. |
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13 | |
The first dimension of the retail positioning matrix is breadth of product line and the second is: |
| | A) | depth of line. |
| | B) | relative market share. |
| | C) | value added. |
| | D) | revenue generated. |
| | E) | stage in the life cycle. |
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14 | |
Markup is: |
| | A) | the difference between the final selling price and the retailer's cost. |
| | B) | selling brand name merchandise at lower than regular prices. |
| | C) | the amount added to the cost the retailer paid for a product to reach the final selling price. |
| | D) | the difference between the retail cost and initial selling price. |
| | E) | the reduction in retail price, usually expressed as a percentage equal to the amount reduced, divided by the original price, and multiplied by 100. |
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15 | |
Another term for gross margin is: |
| | A) | original markup. |
| | B) | maintained markup. |
| | C) | markdown. |
| | D) | off-price. |
| | E) | discount price. |
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16 | |
Off-price retailing is: |
| | A) | the difference between the final selling price and the retailer's cost. |
| | B) | selling brand name merchandise at lower than regular prices. |
| | C) | the amount added to the cost the retailer paid for a product to reach the final selling price. |
| | D) | the difference between the retail and initial selling price. |
| | E) | the reduction in retail price, usually expressed as a percentage equal to the amount reduced, divided by the original price, and multiplied by 100. |
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17 | |
A new variation of off-price retailing which requires customers to purchase a membership card for the privilege of shopping there, is called a: |
| | A) | one price store. |
| | B) | specialty store. |
| | C) | hypermarket. |
| | D) | warehouse club. |
| | E) | video-mart. |
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18 | |
What of the following are new types of retail locations? |
| | A) | Drive-thru windows and kiosks |
| | B) | Carts, kiosks, and wall units |
| | C) | Carts, booth and drive-thru windows |
| | D) | Retail counter, kiosks, and booths |
| | E) | Kiosks and retail counter |
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19 | |
A concept that describes how new retail outlets enter the market and change gradually in terms of status and margin is called: |
| | A) | the retail life cycle. |
| | B) | the product life cycle. |
| | C) | the wheel of retailing. |
| | D) | the service continuum. |
| | E) | the retail continuum. |
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20 | |
A concept that describes the process of growth and decline that retail outlets experience is called: |
| | A) | the retail life cycle. |
| | B) | the product life cycle. |
| | C) | the wheel of retailing. |
| | D) | the service continuum. |
| | E) | the retail continuum. |
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