 |
| 1 | |
_________ refers to the number of different items in a merchandise category. |
| | A) | Inventory mixture |
| | B) | Product width |
| | C) | Product breadth |
| | D) | Variety |
| | E) | Assortment |
|
|
|
| 2 | |
My Favorite Quilt Shop carries quilting thread of every brand, color, and strength in cotton and poly-cotton blends. With reference to quilting threads, My Favorite Quilt Shop has: |
| | A) | broad variety |
| | B) | few SKU's |
| | C) | good customer base |
| | D) | little shrinkage |
| | E) | deep assortment |
|
|
|
| 3 | |
Sea Bees sells a variety of aquarium maintenance supplies ranging from filters, to chemicals, to lights, to feed and even aquatic toys. Sea Bees can be said to have: |
| | A) | supply standard |
| | B) | few SKU's |
| | C) | complete retail offering |
| | D) | little shrinkage |
| | E) | deep assortment |
|
|
|
| 4 | |
How can conventional supermarkets differentiate their offerings? |
| | A) | They can provide one-stop shopping services. |
| | B) | They can generate private label merchandise. |
| | C) | They can invest in a just-in-time inventory management. |
| | D) | They can increase store loyalty among customers. |
| | E) | They can eliminate perishables. |
|
|
|
| 5 | |
Convenience stores: |
| | A) | have great merchandise depth |
| | B) | are about the same size as the traditional supermarket |
| | C) | earn most of their profit on sales of milk, eggs, and bread |
| | D) | are in the introductory stage of the retail life cycle |
| | E) | are a modern form of the mom-and-pop grocery/general store |
|
|
|
| 6 | |
How can a convenience store develop a sustainable advantage against the competition? |
| | A) | extend hours of operation |
| | B) | sell impulse merchandise |
| | C) | close less convenient locations |
| | D) | grow the square footage of the stores |
| | E) | open smaller stores close to where consumers shop and work |
|
|
|
| 7 | |
Category specialists: |
| | A) | compete directly with off-price retailers |
| | B) | are limited to clothing and toy retailing |
| | C) | rely on warranty sales to promote loyalty |
| | D) | offer a narrow variety but deep assortment of merchandise |
| | E) | have little customer service |
|
|
|
| 8 | |
Which of the following statements does NOT describe electronic retailing correctly? |
| | A) | Perspectives on electronic retailing have changed dramatically over the past 10 years. |
| | B) | Electronic retailers who have niche target markets are more likely to be successful. |
| | C) | Online retail sales continue to grow much faster than retail sales through stores and catalogs. |
| | D) | Traditional store-based retailers are using the Internet to evolve into multichannel retailers. |
| | E) | It has been realized that the Internet is a revolutionary new retail format that will replace stores and catalogs. |
|
|
|
| 9 | |
The waiting room for the law firm had a brocade-covered sofa, a Degas print, a thick Persian rug, and handsomely framed diplomas. This sort of affluent furnishing that signals quality is a way to deal with the _____ of services. |
| | A) | intangibility |
| | B) | perishability |
| | C) | inconsistency |
| | D) | consumability |
| | E) | compatibility |
|
|
.