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| 1 | |
Retailing is an important marketing activity. Not only do producers and consumers meet through retailing actions, but retailing also creates ___________ and has a significant impact on the economy. |
| | A) | the nation's largest source of tax revenues |
| | B) | public service to charities |
| | C) | harvesting possibilities |
| | D) | customer value |
| | E) | traffic congestion |
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| 2 | |
Enterprise car rental agency differentiates itself from other similar agencies by providing a delivery service. This delivery service is particularly valuable to someone who has been left stranded without transportation. By making it easy to rent temporary transportation, Enterprise is emphasizing which utility? |
| | A) | Product |
| | B) | Service |
| | C) | Possession |
| | D) | Form |
| | E) | Convenience |
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| 3 | |
At the Christmas Tree Shop, customers can shop for Christmas gifts at any time of year. What type of utility does this store primarily create for its customers? |
| | A) | Time |
| | B) | Place and conformance |
| | C) | Possession and form |
| | D) | Form |
| | E) | Performance |
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| 4 | |
One of the best-run banks in the United States, Wells Fargo reaches retail customers through 3,230 branch banks, 598 in-store minibanks, a worldwide network of 6,800 ATMs and its online banking service. The online service has more than 9 million users. Which utility does Wells Fargo best provide in this example? |
| | A) | Time |
| | B) | Place |
| | C) | Possession |
| | D) | Form |
| | E) | Performance |
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| 5 | |
Which method of classifying retail outlets would be most appropriate for describing all franchise operations? |
| | A) | Form of ownership |
| | B) | Level of service |
| | C) | Merchandise line |
| | D) | Method of operation |
| | E) | Revenue generated |
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| 6 | |
In which form of retail outlet would customers be offered convenience, quality personal service and lifestyle compatibility? |
| | A) | Corporate chain |
| | B) | Administered system |
| | C) | Contractual system |
| | D) | Independent retailer |
| | E) | Sole incorporation |
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| 7 | |
General merchandise stores such as Wal-Mart, Kmart and Target are usually considered __________ outlets. |
| | A) | full-service |
| | B) | limited service |
| | C) | self-service |
| | D) | customized service |
| | E) | functional service |
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| 8 | |
Stores like Dillard's, Macy's and Neiman Marcus carry a wide range of different types of products but not unusual sizes. They are known as __________. |
| | A) | limited line stores |
| | B) | general merchandise stores |
| | C) | scrambled merchandise stores |
| | D) | hypermarkets |
| | E) | regional dominator |
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| 9 | |
Which of the following currently have caused catalog retailers to focus on proven customers rather than prospective customers? |
| | A) | Large number of catalogs mailed each year |
| | B) | Postal rate increases |
| | C) | Increase in number of specialty catalogs targeted to market niches |
| | D) | Traditional retailers are adding catalog operations |
| | E) | All of the above have caused catalog retailers to focus on proven customers rather than prospective customers |
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| 10 | |
What advantage does online retailing offer the typical customer? |
| | A) | Online retailing creates time utility |
| | B) | Online retailing allows comparison shopping |
| | C) | Online retailing provides customers with in-home privacy |
| | D) | Online retailing provides customers with a great variety of products to choose from |
| | E) | All of the above statements describe advantages of online retailing |
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| 11 | |
Which of the following statements about telemarketing is true? |
| | A) | Shopping bots are computers that place automated telemarketing calls |
| | B) | Direct mail is typically viewed as more efficient than telemarketing |
| | C) | Telemarketing has declined in popularity as companies have searched for ways to decrease costs |
| | D) | As the use of telemarketing grows, industry standards for telemarketing have become a greater concern |
| | E) | All of the above statements about telemarketing are true |
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| 12 | |
Direct selling is likely to continue to grow in markets __________. |
| | A) | outside the United States |
| | B) | where convenience is not important |
| | C) | where there are effective distribution channels |
| | D) | in which consumers are knowledgeable shoppers |
| | E) | that have an excellent infrastructure |
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| 13 | |
To successfully position a retail store, it __________. |
| | A) | must be in an MSA with at least one other competitor in the same industry |
| | B) | must have an identity that is perceived by consumers to have some advantage over its competitors |
| | C) | should be located in either a strip location or in a regional shopping mall |
| | D) | must be in an area where the average per capita income meets or exceeds the national average |
| | E) | must offer the only service or product of its kind within a radius that contains one-eighth of the local population |
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| 14 | |
Many retailers advocate a(n) __________ strategy, a pricing strategy that may not offer the lowest prices but does try to create value for customers through its service and the total buying experience. |
| | A) | low-margin |
| | B) | everyday low pricing |
| | C) | everyday fair pricing |
| | D) | emphasized-value |
| | E) | accelerated maintenance |
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| 15 | |
Texas-based Whole Foods supermarkets targets people who want to eat healthy. The stores use placards throughout, which tell shoppers about the farmers who grew and harvested various products. This use of signage to provide consumer information is a part of which element of the retailing mix? |
| | A) | Communications mix |
| | B) | Discounts and allowances |
| | C) | Variety and assortment |
| | D) | Goods and services mix |
| | E) | Physical distribution mix |
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| 16 | |
Which of the following would be used by a retailer practicing consumer marketing at retail? |
| | A) | Analyzing data to determine consumer problems |
| | B) | Translating data into retailing mix actions |
| | C) | Executing shopper-friendly in-store programs |
| | D) | Monitoring the performance of the merchandise |
| | E) | All of the above would be used |
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| 17 | |
Accelerated development in the retail life cycle is similar to which stage in the product life cycle? |
| | A) | Introduction phase |
| | B) | Growth |
| | C) | Maturity |
| | D) | Decline |
| | E) | Harvest |
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| 18 | |
With the slogan, "There is a place for fun in your life!", Mall of America has verbalized its __________ strategy. |
| | A) | retail mix |
| | B) | wheel of retailing |
| | C) | retail life cycle |
| | D) | positioning |
| | E) | distribution |
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| 19 | |
Which of the following statements about managing the customer experience is true? |
| | A) | Retailers are paying less attention to men and their shopping behavior |
| | B) | Men are typically viewed as infrequent "mission shoppers" |
| | C) | Young men shop as their fathers do |
| | D) | Making the retail environment a sparse one appeals to male shoppers who value efficiency |
| | E) | All of the above are true |
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| 20 | |
Many fast food retailers, including McDonald's and Burger King, have followed a predictable pattern of how new forms of retail outlets enter the marketplace. McDonald's has evolved from a relatively simple hamburger joint with low margins, low prices, limited product offerings and low institutional status to a worldwide chain with higher margins, high status and a diverse list of products. This evolution of McDonald's restaurants is consistent with the __________. |
| | A) | wheel of retailing |
| | B) | evolution of retailing |
| | C) | retail cycle |
| | D) | fast food retail cycle |
| | E) | restaurant evolutionary cycle |
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