 |
1 | |
Customix.com is a retail website that allows customers to visit its website and design a sneaker to their own personal specifications. This website would particularly appeal to people who exercise regularly and are very aware of what shoe styles fit comfortably on their feet. Customix.com best represents how retailers create _____ utility. |
| | A) | price |
| | B) | form |
| | C) | place |
| | D) | time |
| | E) | promotion |
|
|
2 | |
Which method of classifying retail outlets would be most appropriate for describing McDonald's, Holiday Inn, and Subway-all franchise operations? |
| | A) | form of ownership |
| | B) | level of service |
| | C) | merchandise line |
| | D) | method of operation |
| | E) | revenue generated |
|
|
3 | |
Which of the following forms of retail ownership offers entrepreneurs the ability to be their own boss? |
| | A) | limited partnership |
| | B) | franchise |
| | C) | corporate chain |
| | D) | corporate proprietorship |
| | E) | independent retailer |
|
|
4 | |
As a national franchiser, McDonald's assists its franchisees in selecting the store location, setting up the store, advertising, and: |
| | A) | paying their bills promptly. |
| | B) | shopping for the best food values. |
| | C) | keeping premises clean. |
| | D) | training personnel. |
| | E) | disciplining dishonest employees. |
|
|
5 | |
Which of the following statements BEST describes the term depth of product line? |
| | A) | Every unique item in the store has its own SKU. |
| | B) | Every stage of the product life cycle is represented by specific products in the store. |
| | C) | The retailer carries a large variety of different products. |
| | D) | The retail establishment carries enough merchandise so it never has to worry about a stockout. |
| | E) | The retailer carries a large assortment of each item. |
|
|
6 | |
A Woman's Place is a retail store, created and staffed by women, that offers products and services relating to maternity needs. It carries in stock 3,000 items for expectant mothers in all dress sizes. This is an example of the ____ a Woman's Place carries. |
| | A) | depth of product line |
| | B) | breadth of product line |
| | C) | variety of product line |
| | D) | versatility of product line |
| | E) | product mix |
|
|
7 | |
Which of the following types of nonstore retailing is lowest in both customer and retailer involvement? |
| | A) | automatic vending |
| | B) | television home shopping |
| | C) | telemarketing |
| | D) | direct selling |
| | E) | online retailing |
|
|
8 | |
Door-to-door retailing involves direct sales of goods and services to consumers through personal interactions and demonstrations in their homes or offices while direct selling: |
| | A) | involves demonstrations within stores. |
| | B) | uses the telephone to interact with customers. |
| | C) | allows consumers to evaluate and order products through the Internet. |
| | D) | sells through demonstrating and displaying products on television. |
| | E) | is exactly the same thing. |
|
|
9 | |
The _____ is a means of positioning retail outlets in terms of the breadth of their product line and value added. |
| | A) | BCG growth share matrix |
| | B) | payoff table |
| | C) | market-product grid |
| | D) | retail positioning matrix |
| | E) | service pyramid |
|
|
10 | |
A retailer bought a pair of designer eyeglass frames for $16. She sets the initial selling price at $48 dollars. The final selling price was $34. What was the original markup? |
| | A) | $32 |
| | B) | $48 |
| | C) | $16 |
| | D) | $34 |
| | E) | cannot be determined because manufacturer's cost is not given |
|
|
11 | |
A huge shopping strip with multiple anchor (or national) stores is called a: |
| | A) | central business district. |
| | B) | regional shopping centre. |
| | C) | community shopping centre. |
| | D) | mall. |
| | E) | power centre. |
|
|
12 | |
Lands' End is primarily known as a catalog retailer. However, it operates some retail stores and it sells at its website www.landsend.com. Lands' End is an example of one of the trends in retailing because it has: |
| | A) | used all of the elements of the utility mix. |
| | B) | created customers' needs where needs used to not exist. |
| | C) | uses a variety of sales locations to continually reposition itself on the retail positioning matrix. |
| | D) | eliminated the need for intermediaries to perform facilitating functions. |
| | E) | become a multichannel retailer. |
|