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Self Quiz
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1
Why have private brands recently assumed a new level of significance for establishing a distinctive identity among retailers?
A)Promotions became part of the marketing plans.
B)The size of retail firms has increased through consolidation, making private brands more popular, and acceptable to consumers.
C)National brands have become cheap with poor quality manufacturing.
D)Private brands have not become popular and in fact have fallen in popularity because of competitive pricing of national brands.
E)Retailers have partnered with manufacturers to sell private labels as national brands.
2
Why would a discount store most likely buy from vendors of manufacturer brands?
A)to increase its promotional expense
B)to create brand recognition
C)to gain a positive impact on its store image
D)to moderate its traffic flow
E)to do all of the above
3
Why would a buyer for a chain of mall specialty stores choose a private-label brand as opposed to a national brand of leather jackets?
A)to limit its store traffic to qualified buyers
B)to prevent its customers from comparison shopping
C)to increase its merchandising flexibility
D)to increase its sales expenses
E)for all of the above reasons
4
Which of the following does NOT describe benefits that a retailer receives from buying from vendors of manufacturer brands?
A)have a positive impact on store image
B)improve traffic flow
C)lower selling expenses
D)prevent comparison shopping
E)lower promotional expenses
5
Some customers who have shopped a variety of malls have used the term "cookie cutter stores" to describe how similar each apparel store appears and how each seems to stock identical merchandise. The stores look like they were cut from the same cookie cutter. This sameness is due in large part to:
A)mall promotional campaigns
B)the stocking of manufacturer brands
C)a perceived rather than an actual image
D)using the same architects
E)the development of store loyalty
6
What do buyers do when they meet with vendors during a trade show?
A)Buyers talk about free-rides.
B)Buyers discuss advertising allowances.
C)Buyers review performance of the vendor during the previous season.
D)Buyers make allowances for buybacks.
E)Buyers negotiate markdown money.
7
Which of the following statements about tariffs is true?
A)Retailers want to raise them.
B)Import tariffs have been used to shield domestic manufacturers from foreign competition.
C)Tariffs have never been used as a government fund raiser.
D)Tariffs lower the cost of imported merchandise.
E)The World Trade Organization is responsible for the increase in the tariff rate.
8
Which of the following statements supports sourcing closer to or in the United States?
A)It is easier to maintain a good standard of quality control.
B)It is easier to build a strategic partnership.
C)Some customers prefer products made in America.
D)It is easier to monitor potential human rights and child labor violations.
E)All of the above
9
Nick owns a small toy shop specializing in hobbies. At a recent trade show, he saw a new vendor selling electric trains that were powered by a single track. The merchandise looked detailed, seemed to run smoothly and didn't jump the track. He went back to his hotel to research the vendor on the Internet and to make a few calls to other shops to inquire about reputation. Nick is in which phase of the level of commitment?
A)expansion
B)consideration
C)exploration
D)commitment
E)awareness
10
Bernie, owner of Bernie's Jean Store, waited for a shipment of zip-off pants that were supposed to have arrived three days ago for a back-to-school sale. These popular and practical pants missed the sale and Bernie feels he has lost a great deal of money. What should he do?
A)give the vendor money to assure earlier deliveries in the future
B)take the vendor to court
C)accept vendors' gifts to repay the inconvenience of the late delivery
D)collect a chargeback
E)none of the above





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