Deck 14: Managing People

Question 1

The IHIP characteristics refers to services that are:

A) intangible, heterogeneous, inseparable and performance based.
B) ineffective, heterogeneous, inseparable and performance based.
C) intangible, homogeneous, inseparable and performance based.
D) ineffective, homogeneous, inseparable and perishable.
E) intangible, heterogeneous, inseparable and perishable.

Answer 1

E

Question 2

One of the main reasons for the increased retail competition during the "marketing to" era was:

A) improved transport and communication.
B) growth of chain stores.
C) movement of customers from rural areas to larger cities.
D) the emergence of collaboration with vendors.
E) identifying specific consumer needs.

Answer 2

A

Question 3

All of the following discount mass merchandiser stores were founded in 1962,EXCEPT:

A) Walmart.
B) FedMart.
C) Kmart.
D) Woolco.
E) Target.

Answer 3

B

Question 4

The three primary forms of providing service are:

A) in person, via telephone, via Internet.
B) professionally, effectively, consistently.
C) openly, honestly, directly.
D) direct, via a good, via education.
E) courteous, kind, accepting.

Question 5

During the "to market" era the major challenge was:

A) identifying a target market.
B) bringing merchandise to the market.
C) selling the merchandise.
D) determining the cost of merchandise.
E) locating a supplier of the merchandise.

Question 6

The three era's of retailing are:

A) "to market", "marketing to", "marketing with"
B) "marketing for", "marketing with", "marketing without."
C) "target market", "market strategy", "market objective."
D) "objective market," "subjective market", "established market."
E) "mass market", "target market", "performance market."

Question 7

The "marketing with " era of retail marketing can also be thought of the era of active
Collaboration between retailers and their customers,suppliers and other stakeholders such as:

A) brokers.
B) owners.
C) investors.
D) employees.
E) silent partners.

Question 8

In order to achieve retail success,which of the following should be your primary focus?

A) Pricing.
B) Promotion.
C) Buying.
D) Customers.
E) Distribution.

Question 9

The application of knowledge and skills through deeds,processes,and performances for the benefit of another is known as:

A) marketing.
B) service.
C) community based retailing.
D) social networking.
E) performance based retailing.

Question 10

The retail model that shows how shows how inventory,space,and labor resources interrelate to yield high resource productivity is known as the:

A) Retail Resource Trinity Model.
B) Gross Margin Return on Space.
C) Retail Margin Model.
D) Gross Margin Return on Inventory.
E) Gross Margin Return on Labor.

Question 11

An important trend that has resulted in a shift to more collaborative relationships with
Suppliers,employees,and customers is:

A) a whole system approach.
B) increased one-on-one conflict resolution.
C) increased distribution of handbooks/manuals.
D) expansion of the one-to-many model.
E) improved and lower cost of telecommunication.

Question 12

A sporting goods store that has photo mural displays of people engaged in different sports is an example of:

A) value as unique.
B) resource integration.
C) service as basis of human exchange.
D) value co-creation.
E) sensory marketing.

Question 13

The main reason that Starbucks was able to have the main share of coffeehouses in the world is just two decades is that they:

A) were the only coffeehouse to offer premium coffee during extended hours.
B) used tangible resources to provide their product.
C) capitalized on the economic climate at the most opportune time.
D) continually expanded their stores at the expense of customer service.
E) successfully applied their knowledge and skills to better serve customers.

Question 14

The mass merchandising strategy is based upon all of the following EXCEPT:

A) low prices.
B) lowering customer service.
C) increasing customer service.
D) overloading the store with merchandise.
E) increasing inventory.

Question 15

It is important to know the history of retailing because it:

A) teaches you the basics of retailing.
B) gives you past retailing ideas that you can use today.
C) helps you to understand current retailing theory.
D) will help you understand where retailing is headed in the future.
E) helps you learn from competitors.

Question 16

During the _____era,the retailer began to view itself as a support system for all of its stakeholders with the customer at the center.

A) "marketing to"
B) "marketing from"
C) "marketing with"
D) "marketing without"
E) "to market"

Question 17

The mass merchandising formula is very much driven by low gross margins which means the retailer must keep its cost low resulting in:

A) higher customer service.
B) higher customer satisfaction.
C) lower customer service.
D) lower customer satisfaction.
E) higher customer traffic.

Question 18

During the "to market era",merchandise and goods moved primarily by:

A) waterways and automobile.
B) automobile and airplane.
C) horse and wagon.
D) railroads and waterways.
E) railroads and airplanes.

Question 19

The first US based chain store is 1859 was:

A) Walmart.
B) Sears Roebuck.
C) JCPenny.
D) Woolworth's.
E) The Great Atlantic and Pacific Tea Company (A&P).

Question 20

Which of the following is an example of an operand resource?

A) Store merchandise.
B) Employee's skills.
C) Employee's knowledge.
D) Balance sheets.
E) Target market segments.

Question 21

A women's shoe store that offers a play area for children is an example of the:

A) service as basis for exchange principle.
B) combined service and value principle.
C) value as unique principle.
D) resource integration principle.
E) value co-creation principle.

Question 22

All of the following are examples of financial goals EXCEPT:

A) sales growth.
B) sales ability.
C) gross margins.
D) labor productivity.
E) space productivity.

Question 23

The active involvement of the customer in the retailer's core activities is known as:

A) co-production.
B) co-creation of value.
C) co-participation.
D) co-exchange.
E) co-involvement.

Question 24

The two types of interfacing are soft interfacing and_____ interfacing.

A) complex
B) simple
C) hard
D) cognitive
E) affective

Question 25

When a retailer's actual results fall short of planned results,North America's retailing philosophy is to place blame on:

A) external factors.
B) management/employees.
C) the economy.
D) merchandisers.
E) decline in target markets.

Question 26

All of the following are facets around which customers are operant resources EXCEPT:

A) enabling.
B) engagement.
C) co-creating.
D) assessment.
E) co-producing.

Question 27

Which of the following is a possible explanation for a retailer's actual results falling short of planned results?

A) Internal complaints
B) Poor identification of assets
C) Ineffective collaboration
D) Failure to meet financial goals
E) Environmental factors

Question 28

In order to develop competitively compelling value propositions,all of the following should be utilized EXCEPT:

A) include customers social cost.
B) consider how value propositions will resonate with customers as well as employees.
C) include customers economic cost.
D) focus strictly on sales revenue
E) consider the resource integrating nature of your customers.

Question 29

One of the main differences between the traditional view of advertising and consumer-centric view of advertising is that:

A) consumer-centric advertising is designed primarily to sell its merchandise.
B) traditional orientation views advertising as a service.
C) consumer-centric retailers are moving towards a one way advertising service.
D) consumer-centric orientation views advertising as a service.
E) traditional orientation views advertising as part of the process of building relationships.

Question 30

A local paint store offers a free clinic to teach customers how to hang wallpaper.This service is an example of _____ a customer.

A) reaching
B) assisting
C) targeting
D) enabling
E) educating

Question 31

_______(is)are statements of how the retailer plans to positively affect customers,employees,suppliers,and other stakeholders.

A) Dialogue
B) Co-productions
C) Target initiatives
D) Value propositions
E) Co-creations

Question 32

The three types of learning are:

A) initial learning, transition learning, final learning.
B) pre-learning, actual learning, post-learning
C) beginning learning, middle learning, end learning.
D) single-loop learning, double-loop learning, triple-loop learning.
E) first-tier learning, second- tier learning, third-tier learning.

Question 33

The three processes that help facilitate engagement are:

A) interfacing, assessment and enabling.
B) interaction, assessment and enabling.
C) interfacing, enabling and co-producing.
D) interaction, experiencing and connecting.
E) interfacing, experiencing, and connecting.

Question 34

______ are the cognitive and affective responses that result from interfacing.

A) Consequences
B) Experiences
C) Results
D) Effects
E) Connections

Question 35

In retailing,how the customers interface,experience,and connect to various other actors in the economic system to include retailers is known as:

A) enabling.
B) relieving.
C) co-producing.
D) engagement.
E) assessment.

Question 36

Which of the following is a modern day example of "relieving" individuals of physical activity?

A) Automatic clothes dryer
B) Internet
C) Treadmill
D) Cell phones
E) Health clubs

Question 37

Interfacing and experiences result in _______with the retailer in the from of identification which further strengthens retailer/customer relationship.

A) friendship
B) loyalty
C) satisfaction
D) connecting
E) enabling

Question 38

The best combination of resources that are mobilized to a time and place for a particular individual to solve their problem(s)or for them to pursue opportunities at an optimal value or cost result is:

A) performance.
B) efficiency.
C) demand.
D) population.
E) density.

Question 39

The three major types of resources customers integrate as they co-create value in their daily lives are:

A) direct, indirect, and target.
B) market, public, and private.
C) tangible, intangible, and secondary.
D) intentional, unintentional and primary.
E) separable, inseparable and initial.

Question 40

Which learning style asks the question: "Are we doing things right?" to achieve our goals?

A) Double-loop learning.
B) Pre-learning.
C) Beginning learning.
D) Single-loop learning.
E) Triple-loop learning.

Question 41

The two primary determinants of return on assets that are utilized in single-loop learning are:

A) inventory productivity and labor productivity.
B) target market and customer satisfaction.
C) actual results and planned results.
D) co-creation and co-production.
E) net profit margin and asset turnover.

Question 42

Which learning style asks the question: "What is our right business model?"

A) Double-loop learning.
B) Pre-learning.
C) Triple-loop learning.
D) Single-loop learning.
E) Beginning learning.

Question 43

A local day center expands it's operating hours in order to provide child care for individuals who work 2nd and 3rd shifts.This is an example of:

A) form reconfiguration.
B) possession reconfiguration.
C) target market reconfiguration.
D) time reconfiguration.
E) place reconfiguration.

Question 44

Smaller stores and stores that are in non-traditional locations are demonstrating a new logic around geographic locations known as:

A) form reconfiguration.
B) possession reconfiguration.
C) target market reconfiguration.
D) time reconfiguration.
E) place reconfiguration.

Question 45

Restaurants such as Chik-Fil-A that have smaller stores located inside college student unions is an example of:

A) place reconfiguration.
B) target market reconfiguration.
C) form reconfiguration.
D) possession reconfiguration.
E) time reconfiguration.

Question 46

____ is when a retailer reframes its business in terms of the time it performs certain activities and offers service.

A) Form reconfiguration
B) Place reconfiguration
C) Possession reconfiguration
D) Target marketing reconfiguration
E) Time reconfiguration

Question 47

After 1900 retail advertising witnessed rapid growth in the form of print,billboards and television.

Question 48

The United Stated in 1900 was largely settled with the majority of people residing in cities.

Question 49

The increase in square footage in a retailers store from 20,000 square feet to 40,000 square feet is an example of:

A) form reconfiguration
B) time reconfiguration
C) possession reconfiguration
D) place reconfiguration
E) expansion

Question 50

The rapid growth of chain stores occurred during the 1940's.

Question 51

Where and how a customer takes physical possession of the merchandise is known as:

A) place reconfiguration.
B) time reconfiguration.
C) target market reconfiguration.
D) form reconfiguration.
E) possession reconfiguration.

Question 52

In double-loop learning,the retailer asks itself if the _____ and_____ on which it is focused are the appropriate or "right" ____ and _____.

A) co-creations, co- productions.
B) gross margins, net margins.
C) profits, losses.
D) goals, measures.
E) investments, assets.

Question 53

During the 1900's,the largest retailers were the general stores,which carried everything from wedding dresses to funeral caskets.

Question 54

During the "marketing to" era,retailers learned if they can expose shoppers to a lot of merchandise,they will tend to buy more.

Question 55

For most of the developed world,the "marketing to" era is the time prior to 1900.

Question 56

A change in any element of a retailer's physical structure including check out counters,merchandise fixtures or size of the store is known as:

A) possession reconfiguration.
B) time reconfiguration.
C) form reconfiguration.
D) target market reconfiguration.
E) place reconfiguration.

Question 57

Throughout most of human civilization there has been a large scarcity of manufactured or processed goods.

Question 58

Lowe's Home Improvement delivery,installation,and free appliance take away is an example of:

A) target marketing reconfiguration.
B) time reconfiguration.
C) possession reconfiguration.
D) place configuration.
E) form reconfiguration.

Question 59

The most sophisticated type of learning is:

A) single-loop learning.
B) post learning.
C) final learning
D) triple-loop learning.
E) double-loop learning.

Question 60

The most fixed resource in the resource trinity model is floor space.

Question 61

A service can be provided indirectly through a good.

Question 62

Social networks,such as Facebook and blogs,can be used to share both positive and negative customer and/or employee experiences with the public at large.

Question 63

Retailers that recognize that they are selling intangibles,even if their merchandise is tangible,will be able to develop more effective retail marketing strategies.

Question 64

A retailer cannot fully understand its customer if it does not go beyond simply trying
to understand how customers shop in its store.

Question 65

A retailer employing the mass merchandising formula can get trapped in an endless cycle of lower margins,frequent sales promotions,higher traffic,and higher efficiency.

Question 66

In traditional logic,services are viewed as homogeneous,since each customer is receiving something different from the service provider.

Question 67

During the "marketing to" era,communication was primarily broadcast on the one-to-many model.

Question 68

A speciality running store that offers a shoe clinic on how to choose the right running shoe is an example of providing a service through education.

Question 69

Employee skills and knowledge is an example of an operand resource.

Question 70

The new management mindset that retailers and businesses in general are moving toward is known as service-dominant.

Question 71

A service-dominant mindset views the customer or beneficiary as using what the firm sells to do something valuable or to create value.

Question 72

Customers integrate three major types of resources as they co-create value in their daily lives: personal resources,public resources,and private resources.

Question 73

Retailers that recognize that customers are incorporating what they sell into the value co-creation process are able to use this knowledge in their communication.

Question 74

During the "marketing with" era of retail marketing,long term relationships became a central premise of retail planning.

Question 75

Competing on tangibles always provides the retailer a competitive advantage because tangibles are hard to copy.

Question 76

The value of intangibles is measured by what is referred to as the price to book ratio.

Question 77

Service involves doing something of benefit for the customer,suppliers,and employees.

Question 78

Service is the fundamental basis of exchange; therefore it is also the basis of all competition.

Question 79

The traditional services marketing thought argues that services are distinct from goods and they have more desirable characteristics than goods.

Question 80

A retailer's intangible resources are always included on its balance sheet.